<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on June 1, 2017</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Green Packet Bhd is expecting an internal rate of return (IRR) of up to 30% over the next four years for its investment in G3 Global Bhd’s (formerly Yen Global Bhd) Internet of things (IoT) business venture, which it anticipates will break even by the first quarter of next year.</p></div>

<div class=newsTextDataWrapInner><p>On Aug 3 last year, Green Packet announced it had bought a 22% stake in G3 Global for RM18.15 million via an off-market deal.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In the same month, Atilze Digital Sdn Bhd, G3 Global’s wholly-owned subsidiary, said it was collaborating with Axiata Group Bhd to explore and develop IoT opportunities across Southeast Asia, with an initial focus on connected car solutions and the commercialisation of city-wide, low-power, long-range wireless communication (LoRa) network deployments.</p></div>

<div class=newsTextDataWrapInner><p>“Axiata is bringing a lot of regional reach to Atilze, but we don’t expect to see big numbers for the time being. It could break even by the first quarter of next year. Like other business cases, we usually evaluate it based on a five-year period. Our targeted IRR is about 20% to 30% during this period,” Green Packet chief executive officer Tan Kay Yen told reporters after the group’s annual general meeting yesterday.<br />
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KUALA LUMPUR: Green Packet Bhd is expecting an internal rate of return (IRR) of up to 30% over the next four years for its investment in G3 Global Bhd’s (formerly Yen Global Bhd) Internet of things (IoT) business venture, which it anticipates will break even by the first quarter of next year....

IoT investment should break even in 1Q18 — Green Packet

KUALA LUMPUR (May 3): Yayasan Hasanah, the social impact foundation of sovereign wealth fund Khazanah Nasional Bhd, marked a decade of philanthropy this week, reporting the disbursement of RM1.6 billion to date.

Announcing the launch of the 10th edition of The Hasanah Report 2023 on Mon...

Yayasan Hasanah marks 10th year of social impact work, spending RM1.6 bil to date

Plantation company WTK Holdings Bhd is raising its stake in Sarawak-based rival Durafarm Sdn Bhd by another 15% for RM28.33 million.

WTK buys another 15% in Sarawak planter Durafarm for RM28m

Indonesia's central bank is confident that the rupiah currency will continue to regain ground against the dollar until the end of 2024, as capital inflows have returned after its recent unexpected rate hike, its governor said on Friday.

Bank Indonesia confident rupiah will strengthen into year-end, governor says

XOX Bhd has proposed to undertake a share capital reduction to wipe out RM303 million of the virtual mobile network operator’s accumulated losses.

The company, which had been in the red for five straight years, had racked up losses totalling RM307.48 million by the end of 2023 despite a slew of fundraising exercises.

XOX proposes RM303mil share capital reduction

GEORGE TOWN (May 3): China Southern Airlines plans to double its weekly flights from Guangzhou, China to Penang, increasing from seven to 14, starting June 20.

China Southern Airlines to double weekly flights to Penang starting June 20

Malaysia’s commitment to building its 5G network has given the country a world-class digital infrastructure, says Telefonaktiebolaget LM Ericsson president and chief executive officer Börje Ekholm.

NEWS: Ericsson hails Malaysia’s ‘world-class’ digital infrastructure

Plastic packaging maker SLP Resources Bhd’s net profit surged 63% in the first quarter from a year earlier bolstered by better product mix and higher output.

Net profit for the three months ended March 31, 2024 (1QFY2024) was RM4.94 million compared with RM3.03 million over the same period last year, SLP said in an exchange filing. Earnings per share came in at 1.56 sen in 1QFY2024, higher than 0.96 sen in 1QFY2023.

SLP Resources net profit soars on better product mix, higher output

KUALA LUMPUR (May 3): Fresh vegetables wholesaler and distributor Farm Price Holdings Bhd, which is set for listing on the ACE Market of Bursa Malaysia on May 14, said on Friday that its initial public offering (IPO) had been oversubscribed by 91.35 times.

ACE Market-bound Farm Price’s IPO oversubscribed by 91.35 times

In a majority decision, the Federal Court has dismissed a woman's final challenge to change her religious status as a Muslim.

Top court dismisses woman's attempt to change religious status

HULU SELANGOR (May 3): Home Minister Datuk Seri Saifuddin Nasution Ismail on Friday denied claims that the proposed pay rise for civil servants that was announced by Prime Minister Datuk Seri Anwar Ibrahim recently was a campaign tool for the Kuala Kubu Baharu (KKB) by-election.

Announcement of pay rise for civil servants not a campaign tool for KKB by-election — Saifuddin

<p>Malaysia’s planned increase in civil servant salaries will boost earnings of RCE Capital Bhd, which mainly provides consumer financing to government employees, Maybank Investment Bank (Maybank IB) said and upgraded the stock to ‘buy’.</p>


Higher civil servant salaries will boost RCE Capital's earnings, says Maybank IB

<p>KUALA LUMPUR (May 3): Digital Nasional Bhd (DNB) will hold a meeting next week to review due diligence findings on the 5G network rollout, Digital Minister Gobind Singh Deo said on Friday.</p>


Digital Nasional to meet next week to discuss due diligence on 5G network — minister

<p>Shares of Ajinomoto (Malaysia) Bhd surged to their highest in nearly six years after the food and seasoning company announced the ex-date for its special dividend.</p>


Ajinomoto Malaysia surges to highest in nearly six years

<p>Naza Corp Holdings Sdn Bhd has completed the acquisition of a 100% stake in Berjaya Enviro Holdings Sdn Bhd (BEnviro) from Berjaya Corp Bhd for RM700 million in cash, marking its entry into the green economy with a focus on municipal and scheduled waste, as well as the waste-to-energy sector.</p>


Naza completes acquisition of waste management company from Berjaya for RM700m cash 

<p>Malaysia’s commitment to building its 5G network has given the country a world-class digital infrastructure, according to Telefonaktiebolaget LM Ericsson president and chief executive officer Börje Ekholm.</p>


Ericsson CEO hails Malaysia’s ‘world-class’ digital infrastructure

<p>Ranhill Utilities Bhd has declared a share dividend distribution on a basis of 0.5 share for every 100 shares held in the utility group.</p>


Ranhill declares share dividend distribution

<p>KUALA LUMPUR (May 3): Fraser &amp; Neave Holding Bhd (F&amp;N) said on Friday that the company will focus on fixed asset optimisation over the next three years, after having allocated more than RM3 billion in capital expenditure (capex) and development of its integrated farm in Gemas.</p>


F&N to focus on sweating off its assets after investing RM3b in capex and development

<p>KUALA LUMPUR (May 3): Engineering firm UUE Holdings Bhd said on Friday that it has signed an agreement with M&amp;A Securities to underwrite its initial public offering (IPO) on the ACE Market.</p>


UUE signs underwriting deal with M&A Securities for ACE Market IPO

<p>The country faces higher imports of gas energy for electricity use in the coming years if it continues to depend on the commodity without efforts to accelerate the transition to more sustainable energy.</p>


Rafizi warns of hike in gas imports for electricity without switch to sustainable energy

<p>Malayan Cement Bhd will likely report strong third quarter earnings when the company reports its results by this month-end, as volume and average selling prices stay high, CGS International said.</p>


Malayan Cement likely to report strong 3Q results, says CGS International

<p>Individuals who have fallen victim to fraudulent investment schemes risk losing the right to recover their money even after going through the legal avenue.</p>


Bukit Aman: Victims of investment scams won’t be able to recoup losses

<p>Hong Kong stocks are on their longest-winning streak since 2018, adding to signs that a recovery in one of the worst-performing markets last year is well underway.</p>


Hong Kong stocks are on their longest winning streak since 2018

<p>In a majority decision, the Federal Court has dismissed a woman's final challenge to change her religious status as a Muslim.</p>


<p>The Penang High Court on Friday dismissed former Penang chief minister Lim Guan Eng, his wife Betty Chew Gek Cheng, and businesswoman Phang Li Koon’s attempt to strike out their graft and money-laundering charges.</p>


Double jeopardy does not apply, Penang court rules in dismissing Guan Eng, wife and Phang's challenge on graft charge

<p>Lotte Chemical Titan Holding Bhd (LC Titan) is expected to face widening core losses in the second quarter ending June 30, 2024 (2QFY2024) from lower sales volume and weak product spread, according to TA Securities.</p>


Lotte Chemical Titan to face widening losses in 2QFY2024 on lower volume, weak product spread, says TA Securities

<p>Ocean Fresh Bhd has signed an agreement with KAF Investment Bank (KAF IB) to underwrite the frozen seafood company’s initial public offering (IPO) on the ACE Market.</p>


Ocean Fresh inks underwriting agreement with KAF IB for ACE Market IPO

<p>As the latest purchasing managers’ index (PMI) data indicated a softer contraction in Malaysia's manufacturing sector in April, economists are expecting the country's manufacturing condition to gradually recover in the near term, though it remains slightly behind regional peers.</p>


Malaysia's manufacturing sector to recover gradually despite lagging behind regional peers — economists

<p>KUALA LUMPUR (May 3): KL Wellness City Sdn Bhd, through KL International Hospital Sdn Bhd, has launched KL International Tertiary Hospital as part of the first phase of the KL Wellness City township in Bukit Jalil here on Thursday (May 2).</p>


KL Wellness City launches tertiary hospital as part of the township’s first phase

<p>The US Treasury Department's top sanctions official will travel to Singapore and Malaysia next week, a source familiar with the matter told <i>Reuters</i>, as Washington seeks to combat funding for Iran and its proxy groups as well as evasion of its sanctions on Russia.</p>


Top US Treasury official to travel to Singapore, Malaysia to discuss sanctions

<p>KUALA LUMPUR (May 3): Muar Member of Parliament (MP) Syed Saddiq Syed Abdul Rahman is seeking a judicial review against Prime Minister Datuk Seri Anwar Ibrahim and the government over RM730,300 in allocations for his constituency.</p>
