<div class=newsTextDataWrapInner>KUALA LUMPUR (May 18): Javawana Sdn Bhd, a major shareholder of GSB Group Bhd, has made a conditional mandatory general offer of 13 sen a share for the remaining 313.10 million shares in the company which it does not own.</div>

<div class=newsTextDataWrapInner>Today, Javawana purchased 127 million GSB shares, representing 24.05% of the company, for RM16.51 million. Its purchase boosted its stake to 40.71%, triggering the MGO.</div>

<div class=newsTextDataWrapInner>In a bourse filing, the offerors said they planned to maintain GSB’s listing status.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>Javawana, an investment holding company, is 50% owned by Tee Eng Seng, with Datin Toh Siew Chuon and Datuk Tee Eng Ho holding 25% each, respectively. The shareholders are joint ultimate offerors in the MGO.</div>

<div class=newsTextDataWrapInner>Tee Eng Ho is the executive chairman of Kerjaya Prospek Group Bhd.</div>

<div class=newsTextDataWrapInner>GSB closed 1.5 sen or 17.39% higher today at 13.5 sen, with 11.43 million shares traded. The company had a market capitalisation of RM71.29 million.</div>

KUALA LUMPUR (May 18): Javawana Sdn Bhd, a major shareholder of GSB Group Bhd, has made a conditional mandatory general offer of 13 sen a share for the remaining 313.10 million shares in the company which it does not own.

Today, Javawana purchased 127 million GSB shares, representing 24...

GSB receives 13 sen a share offer

United Airlines will receive compensation from planemaker Boeing for financial damages incurred in the first quarter due to the grounding of 737 MAX 9 aircraft, the carrier said on Wednesday.

United Airlines says Boeing to compensate for damages caused by MAX 9 grounding

Liquefied natural gas (LNG) remains the fuel of choice for lower-carbon shipping, despite the rise in orders for vessels equipped with dual-fuel methanol and ammonia engines, according to Oslo-based Rystad Energy.

LNG remains top choice for dual-fuelled vessels in shipping, says Rystad

US mortgage rates climbed to a four-month high last week, potentially signalling a bumpier recovery for the residential real estate market.

US 30-year mortgage rate rises to four-month high of 7.13%

Asian central banks’ need for assertive defense of their currencies is driving traders to turn less dovish on monetary policies in the region.

Slower US Fed pivot weakens rate-cut bets across emerging Asia

[Branded] Gamuda Land has always believed in building generational townships. For Gamuda Gardens, the developer has teamed up Skyline Luge to make a place where fun, community and the environment all harmoniously intersect.

A Community Affair at Gamuda Luge Gardens

Hong Leong Investment Bank (HLIB) research said Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cyber security solutions post-passage of the cyber security bill which was passed in Dewan Rakyat on April 3.

HLIB: Cloudpoint well positioned to capitalise burgeoning demand for cyber security solutions

UK Chancellor Jeremy Hunt said consumers shouldn’t foot the bill for mistakes made by the management and owners of struggling utility Thames Water.

Jeremy Hunt says Thames Water customers shouldn’t pay for its mistakes

TA Securities is maintaining its “buy” recommendation on Pantech Group Holdings

MORNING CALL: 18/4/24

President Joe Biden called China “xenophobic” while highlighting the Asian nation’s economic woes, as he sought to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania.

Biden calls China ‘xenophobic’, ramping up 2024 campaign rhetoric

Federal Reserve Bank of Cleveland president Loretta Mester said monetary policy is in a good place, adding that the central bank shouldn’t be in a hurry to cut interest rates.

Mester says US Fed can hold rates steady, not in a hurry to cut

KUALA LUMPUR (April 17): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

IGB Real Estate Investment Trust (IGB REIT) reported a 4.79% jump in its net property income (NPI) for the first quarter ended March 31...

IGB REIT, Affin Bank, Keyfield International, HeiTech Padu, Reservoir Link, LBS Bina, Menang, Excel Force and MFM

US Federal Reserve (Fed)&nbsp;chair Jerome Powell is making life tougher for his peers around the world, as the prospect of higher-for-longer US interest rates reduces room for easier policy elsewhere.

Powell's higher-for-longer US rate warning means headaches for rest of the world

NEW YORK (April 18): US stocks closed lower on Wednesday as crude prices tumbled and investors weighed cautious US Federal Reserve commentary and ongoing geopolitical strife against mixed quarterly earnings.

Benchmark US Treasury yields and the dollar eased back from multi-month highs, ...

US stocks end down, crude slides amid Fed, geopolitical crosscurrents

The Unity Government Leadership Consultative Council meeting agreed that the government must act firmly and not compromise against extreme actions that can jeopardise the country’s stability.

Unity Government Secretariat chief Dr Asyraf Wajdi Dusuki said the matter was decided at Wednesday’s Unity Government Leadership Consultative Council meeting at Seri Perdana, Putrajaya.

Unity Govt meeting: No compromise on extreme actions that can jeopardise country’s stability

President Joe Biden called China “xenophobic” while highlighting the Asian nation’s economic woes, as he sought to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania.

Former Parti Bersatu Rakyat Sabah (PBRS) president Tan Sri Joseph Kurup&nbsp;passed away on Wednesday night.

This&nbsp;was confirmed by an officer&nbsp;to his son, Datuk Arthur Joseph Kurup, who is the current&nbsp;PBRS president and the deputy agriculture and food security minister.

Former PBRS president Joseph Kurup passes away

Sabah has lost an experienced and exceptional leader with the passing of Parti Bersatu Rakyat Sabah (PBRS) founder Tan Sri Joseph Kurup, says Chief Minister Datuk Seri Hajiji Noor.

Expressing sympathy and condolences to the late leader's family, Hajiji said he had worked alongside Joseph as an assistant minister in the Sabah Ministry of Industrial Development in 1994, earning a deep respect for the veteran Sabah leader.

Sabah lost an exceptional leader with Joseph Kurup's passing — Hajiji

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Wednesday, owing to weakness in the soybean oil futures on the Chicago Board of Trade and lower crude oil prices.

Palm oil trader David Ng told Bernama that the weaker market sentiment, however, was limited by the expectation of a stronger demand in the coming weeks.

CPO futures ends lower amid weaker soybean oil futures, oil prices

NEW YORK (April 18): US stocks fell in choppy trading on Wednesday as investors assessed the Federal Reserve's interest rate stance and a batch of soft earnings early in the financial reporting season.

Travelers tumbled 7.41% and was among the biggest drags on the S&amp;P 500 and larges...

Stocks decline as interest rate uncertainty, earnings weigh

Executives at Dutch computer chip equipment maker ASML on Wednesday said they expect demand from Chinese customers to remain strong, representing "in the ballpark" of 20% of the company's order backlog.

ASML executives say they expect continuing strong sales in China

Prime Minister Datuk Seri Anwar Ibrahim has expressed his condolences to Deputy Minister of Agriculture and Food Securities Datuk Arthur Joseph Kurup and his family on the demise of his father, Tan Sri Joseph Kurup on Wednesday.

PM extends condolences to family of Joseph Kurup

Hong Leong Investment Bank (HLIB) research said Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cyber security solutions post-passage of the cyber security bill which was passed in Dewan Rakyat on April 3.

A woman brought a 68-year-old man in a wheelchair into a bank branch and tried to get him to sign for a loan, but he had been dead for hours, Brazilian police said on Wednesday.

Erika Vieira Nunes wheeled the cadaver into the bank in a Rio suburb on Tuesday and told the teller the man wanted a loan for 17,000 reais (US$3,250), security camera video showed.

Woman wheels corpse into Brazil bank to sign for loan

Germany and China have signed a joint declaration to cooperate on autonomous and connected driving which Germany hopes will enable carmakers to transfer data from China to Germany, a contentious topic for foreign businesses in China.

Germany, China sign joint declaration on car data sharing

Gold prices firmed on Wednesday as geopolitical turmoil in the Middle East spurred safe-haven demand, but fading US rate cut hopes capped further upside.

Spot gold rose 0.4% to US$2,391.10 per ounce, as of 9.40am ET (1340 GMT). Prices hit an all-time high of US$2,431.29 on Friday.

Gold drifts higher as Middle East turmoil lifts appeal

Asian countries probably don't want it and they certainly didn't cause it, but a 'beggar thy neighbour' wave of exchange rate depreciation may be about to hit the continent.

If not a full-blown currency war, then a series of skirmishes is looming as policymakers grapple with a resurgent US dollar, a fragmented G10 central bank policy path, and a staggering slump in the Japanese yen which appears to have Tokyo's tacit approval.

Asia braces for unwanted, but unavoidable FX battle

Federal Reserve Bank of Cleveland president Loretta Mester said monetary policy is in a good place, adding that the central bank shouldn’t be in a hurry to cut interest rates.

Federal jurors in New York heard sharply contrasting arguments on whether a trader manipulated the Mango Markets cryptocurrency exchange to steal US$110 million (RM527.1 million) or executed a perfectly legal strategy that was permissible under the rules of the platform. &nbsp;

Crypto trader’s US$110m manipulation case now with jury

United Airlines will receive compensation from planemaker Boeing for financial damages incurred in the first quarter due to the grounding of 737 MAX 9 aircraft, the carrier said on Wednesday.

The world’s two great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with US spending creating trouble for many other countries by keeping interest rates high, officials of&nbsp;the International Monetary Fund (IMF) said in a report.