<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 15): Shares in IHH Healthcare Bhd took a beating in afternoon trade today after India's Supreme Court extended its ban on the group's US$1.1 billion (RM4.5 billion) acquisition of a 31.1% stake in Fortis Healthcare Ltd.</p></div>

<div class=newsTextDataWrapInner><p>According to a <em>Bloomberg </em>news report, a two-judge panel headed by Justice Ranjan Gogoi declined to hear Fortis' plea immediately and said it would hear the case on Feb 26.</p></div>

<div class=newsTextDataWrapInner><p>IHH was the second largest decliner (in terms of value) on Bursa Malaysia. After the news broke this afternoon, the counter slid 22 sen or 3.81% to RM5.55.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>As at 4.20pm, the stock regained some lost ground, bouncing back from the day's low of RM5.55, trading at RM5.63. Some 2.21 million shares changed hands.</p></div>

<div class=newsTextDataWrapInner><p>The Supreme Court had halted the sale of the Fortis stake on Dec 14, 2018 after the Japanese drugmaker Daiichi Sankyo accused the company's former promoters, Malvinder Singh and Shivinder Singh, of acting in contempt of the court by creating fresh encumbrances to their shares in Fortis.</p></div>

<div class=newsTextDataWrapInner><p>Daiichi had approached the High Court to block the sale in July, after IHH was announced the winner of the costly bidding war to acquire the stake in Fortis.</p></div>


Shares in IHH Healthcare Bhd took a beating in afternoon trade today after India's Supreme Court extended its ban on the group's US$1.1 billion (RM4.5 billion) acquisition of a 31.1% stake in Fortis Healthcare Ltd.

According to a Bloomberg news report, a two-judge panel headed by Justice Ranjan Gogoi declined to hear Fortis' plea immediately and said it would hear the case on Feb 26.

IHH down as much as 22 sen; Indian court extends ban on Fortis sale

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

China passes tariff law amid tensions with trading partners

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

Thyssenkrupp sells stake in steel unit to Czech billionaire Kretinsky

Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

BCorp, Capital A, AAX, YNH, Sam Engineering, Turiya, Gadang, Microlink, Nestle, Wiradani, D&O, Homeritz, Unisem

(April 26): HSBC Holdings Plc successfully fought off a London court claim brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co film financing.

HSBC wins £1.3 bil suit over Disney film finance scandal

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

KUB extends deadline for CCB MGO a second time

EVENING 5: Five things you need to know today

KUALA LUMPUR (April 26): KPJ Healthcare Bhd, through its premier educational institution KPJ Healthcare University (KPJU), has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise healthcare.

KPJ Healthcare, Trusx Malaysia collaborate for AI-driven healthcare solutions

Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over US$2 trillion (RM9.5 trillion), while an in-line inflation reading calmed interest rate jitters.

Wall Street rises as Big Tech charges higher

In today’s edition of Evening 5: 00:00 Merger of airlines enough to reverse negative equity - Fernandes 02:16 Govt set to unveil second 5G network next week  03:26 Unisem’s 1Q hit by margins, forex 04:30 Berjaya Corp denies Forest City casino talks   05:30 Homeritz’s 2Q earnings spike on stronger greenback

EVENING 5: Merger of airlines enough to reverse negative equity - Fernandes

A weekly round-up of tanker and dry bulk market (April 26, 2024)

Baltic Exchange shipping updates: April 26, 2024

<p>KUALA LUMPUR (April 26): Gamuda Land, the property arm of Gamuda Bhd, has unveiled partners for Gardens Square, the latest commercial development at the 810-acre Gamuda Gardens in Sungai Buloh.</p>


Gamuda Land announces retail partners for upcoming commercial development in Gamuda Gardens

<p>The Employees Provident Fund (EPF) has emerged as the second largest shareholder of aero-engine components manufacturer Sam Engineering &amp; Equipment (M) Bhd, after Singapore's sovereign wealth fund Temasek Holdings Pte Ltd.</p>


EPF emerges as second largest shareholder of Sam Engineering

<p>Shares of AirAsia X Bhd (AAX) rose to a six-month high as investors cheered a restructuring plan that would make the company the largest low-cost carrier in Southeast Asia.</p>


AirAsia X logs best day in six months on Capital A restructuring

<p>Gadang Holdings Bhd has secured a RM280 million contract to design and develop the Klang Valley Data Centre&nbsp;Block 2 in Cyberjaya from TM Technology Services Sdn Bhd, a business entity of Telekom Malaysia Bhd.</p>


Gadang wins RM280 mil Klang Valley data centre jobs from TM Technology

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.</p>


<p>Penang Chief Minister Chow Kon Yeow&nbsp;has announced that he is in talks with a group of companies which have recently participated in Selangor’s integrated circuit (IC) design park.</p>


Integrated circuit design firms to announce investments in Penang on Saturday, says Chow

<p>S P Setia Bhd will launch Casaville, which comprises 38 single-storey bungalows, in its Setia EcoHill township in Semenyih at end-April.</p>

<p>With a gross development value (GDV) of RM50 million, the homes measure 52ft by 90ft each, with built-ups from 1,994 to 2,074 sq ft, and a three-bedroom, three-bathroom layouts. The selling price starts from RM1.376 million. It is slated for completion in the second quarter of 2026.</p>


S P Setia to launch single-storey bungalows in Setia EcoHill at end-April

<p>Wiradani Development Sdn Bhd — a property developer linked to the son of former finance minister Tun Daim Zainuddin — has filed a fresh winding-up petition against SPNB Aspirasi Sdn Bhd, a wholly-owned subsidiary of Syarikat Perumahan Negara Bhd (SPNB).</p>


SPNB unit faces fresh winding-up petition on failure to complete payment to Wiradani after settlement

<p>Homeritz Corporation Bhd’s net profit surged by 65.9% in the second quarter ended Feb 29, 2024 (2QFY2024) to RM9.24 million, due to increased sales volume and a stronger US dollar.</p>


Homeritz’s 2Q net profit jumps 66% on increased sales volume, stronger greenback

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<p>Datuk Seri Anwar Ibrahim said he will be returning the allowance received as chairman of Khazanah Nasional Berhad, reiterating that he does not draw a salary for the position of prime minister that he has held since November 2022.</p>


Anwar returns Khazanah allowance, reiterates stance on salary waiver

<p>Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's defamation lawsuit against former prime minister Tan Sri Muhyiddin Yassin is headed for a settlement after the two leaders agreed to end a personal dispute between them.</p>


Zahid and Muhyiddin agree to settle defamation suit

<p>China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.</p>


<p>KNM Group Bhd said it is seeking court sanction for a new scheme of arrangement with its creditors. The PN17 group is also seeking a further extension of time to submit its regularisation plan.</p>


KNM seeks fresh scheme of arrangement with creditors

<p>There are no plans to open or operate any casinos in the state, Johor Menteri Besar&nbsp;Datuk Onn Hafiz Ghazi said.</p>

<p>He said the news is merely a rumour intended for sabotage, and to maliciously tarnish the image of Forest City and the state of Johor as a whole.</p>


Johor MB says no plan to open casino in Forest City

<p>US monthly inflation rose moderately in March, but stubbornly higher housing and transportation costs suggested the Federal Reserve could keep interest rates elevated for a while.</p>


US inflation rises in line with expectations; consumer spending strong

<p>The US equity market will continue to rely on a handful of megacap stocks for direction until an uptick in real interest rates ignites recession fears, according to Bank of America Corp strategists.</p>


US megacaps to lead stock rally until real rates bite, says BofA

<p>(April 26):&nbsp;HSBC Holdings Plc successfully fought off a London court&nbsp;claim&nbsp;brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co&nbsp;film financing.</p>


<p>The allies of Republican presidential candidate Donald Trump are drafting proposals that would attempt to erode the Federal Reserve's independence if he wins, the <i>Wall Street Journal</i> reported on Thursday, citing people familiar with the matter.</p>


Trump allies drafting plans to erode Fed's independence — WSJ

<p>KUALA LUMPUR (April 26):&nbsp;KPJ Healthcare Bhd, through its premier educational institution&nbsp;KPJ Healthcare University (KPJU),&nbsp;has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise&nbsp;healthcare.</p>
