<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 22): Far East Holdings Bhd is buying a 3,204 acre plot of land from PHG Plantation Sdn Bhd for a total price of RM110.57 million.</p></div>

<div class=newsTextDataWrapInner><p>In its local bourse filing today, the group said it has entered into a sale and purchase agreement with the PHG Plantation yesterday, to buy the land located in Rompin, Pahang.</p></div>

<div class=newsTextDataWrapInner><p>The group said the proposed acquisition is in line with its expansion plan and would broaden the group’s core income base, through increased plantation acreage at a reasonable cost and at a strategic location.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The proposed acquisition demonstrates the board's initiative in pursuing continued growth and sustainability of the business. The board firmly believes that the proposed acquisition will expand the group's development activities and is expected to contribute positively to Far East’s future prospects and earnings,” the filing said.</p></div>

<div class=newsTextDataWrapInner><p>The proposed acquisition is not expected to have any material impact on the consolidated earnings of Far East for financial year ending Dec 31, 2017 (FY17).<br />
Far East last traded yesterday at RM8.90, for a market capitalisation of RM1.26 billion.&nbsp;</p></div>


KUALA LUMPUR (Aug 22): Far East Holdings Bhd is buying a 3,204 acre plot of land from PHG Plantation Sdn Bhd for a total price of RM110.57 million.

In its local bourse filing today, the group said it has entered into a sale and purchase agreement with the PHG Plantation yesterday, to bu...

Far East buys land in Pahang for RM110.57 mil

MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30.

Main Market-bound MKH Oil Palm’s IPO oversubscribed by 8.43 times

WASHINGTON (April 18): The International Monetary Fund urged Asian central banks on Thursday to focus on domestic inflation and avoid tying their policy decisions too closely to anticipated moves by the U.S. Federal Reserve.

Receding expectations for a near-term interest cut by the U.S....

IMF tells Asian central banks not to follow Fed too closely

Batik Air will suspend its operations to Istanbul, Turkiye, effective May 1, 2024, and affected passengers will be notified via email and text, said the airline operator, Malindo Airways Sdn Bhd.

Batik Air to suspend operations to Istanbul from May 1

Indonesia said fiscal and monetary policies are in sync to cushion the economy from the rising dollar, demonstrating an all-hands-on-deck approach, with the central bank signalling they’re intervening more actively to aid the rupiah.

Indonesia takes steps to shield economy from strong dollar

Some lenders to Thames Water could face losses of as much as 40% in the event that it ends up being nationalised by the UK government, according to contingency plans drawn up by officials.

Thames Water lenders face 40% losses if it’s nationalised

(April 19): Hedge funds and other international investors are sounding alarms after a profitable education company from China defaulted on its convertible bonds in March.

Hedge funds cry foul over Chinese education firm’s default

Mah Sing Group Bhd's M Oscar development in Sri Petaling has achieved an 85% Quality Assessment System in Construction (Qlassic) from the Construction Industry Development Board (CIDB). The certification was presented by CIDB Malaysia CEO Datuk Mohd Zaid Zakaria at an appreciation night for the completion of M Oscar recently.

Mah Sing's M Oscar awarded 85% Qlassic score

Cities are facing a growing number of crises that cannot be resolved by traditional means. These include the challenges of coexisting with significant cultural differences and diversity, developing the sustainability agenda and discovering the city’s role and purpose on an economic, cultural and ...

Shaping Kuala Lumpur into a creative city

Emerging Asian equities and currencies were sharply lower on Friday as reports Israel attacked Iran in an escalation of tensions in the Middle East led investors to flee to safe-haven assets, including the US dollar.

Surging dollar pressures Asian FX; South Korean won leads losses

PUTRAJAYA (April 19): Payment of fees for training or classes in esports, equestrian, swimming, motorsports and taekwondo is eligible for tax relief of up to RM1,000 from next year, said Youth and Sports Minister Hannah Yeoh.

Payment of fees for sports training eligible for tax relief from next year — Hannah

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

<p>Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.</p>


Israel attacks Iran, Reuters reports, as drones shot down over Isfahan 

<p>Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;</p>


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<p>Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.</p>


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<p>PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.</p>


PIE Industrial confirms bagging new client, expects additional RM2.5 bil revenue

<p>RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).</p>


RHB upgrades Public Bank to ‘buy’, raises target price to RM4.80

<p>The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.</p>


 Sarawak aiming to transform itself into a centre for clean hydrogen energy

<p>Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.</p>


Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

<p>Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict.</p>


Stocks sink, oil jumps after Israeli attack on Iran

<p>Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.</p>


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<p>The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).</p>


Margma optimistic of rebound in 2024, expects surge to 450 billion pieces by 2027

<p>The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.</p>


KLCI up 0.43% with focus on energy, plantation, financial stocks

<p>MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;</p>


<p>Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.</p>


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<p>Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.</p>


Malaysia’s March exports down 0.8%, imports surge 12.5%

<p>The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.</p>


Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern — analysts

<p>RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.</p>


Inari poised to challenge RM3.27 resistance, says RHB Retail Research 

<p>The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.</p>


US stops UN from recognising a Palestinian state through membership

<p>The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.</p>


US bank reserve balances see largest drop since 2022 tax season

<p>Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.</p>

<p>According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.</p>
