<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 18): Kretam Holdings Bhd's stock price nosedived in early trade today to its lowest since September 2015, after its plans to sell a 55% stake to Hap Seng Plantations Holdings Bhd had been called off.</p></div>

<div class=newsTextDataWrapInner><p>The stock opened 20.5 sen lower at 49 sen as trading resumed at Bursa Malaysia this morning. It then saw its share price plummet to a low of 39.5 sen subsequently, representing a 43.2% drop from its last closing price.</p></div>

<div class=newsTextDataWrapInner><p>Short selling of the plantation company has been suspended for the rest of the day as it breached its limit-down, the stock exchange announced.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>This leaves Kretam shares last traded at 44.5 sen — still down 25 sen or 36% — after a total of 73.84 million shares exchanged. Kretam is now valued at a market capitalisation of RM1.04 billion.</p></div>

<div class=newsTextDataWrapInner><p>Last Thursday (June 14), it was announced to the stock exchange that Hap Seng Plantations has decided not to proceed with the acquisition of a 55% stake in Kretam, after it found the results of the due diligence of the latter to be "unsatisfactory and unacceptable".</p></div>

<div class=newsTextDataWrapInner><p>The deal, which was for 1.28 billion Kretam shares at 92 sen apiece in cash, was first made known to the public in February.</p></div>

<div class=newsTextDataWrapInner><p>Hap Seng has since exercised its right to terminate the share sale agreement with immediate effect.</p></div>


KUALA LUMPUR (June 18): Kretam Holdings Bhd's stock price nosedived in early trade today to its lowest since September 2015, after its plans to sell a 55% stake to Hap Seng Plantations Holdings Bhd had been called off.

The stock opened 20.5 sen lower at 49 sen as trading resumed at Burs...

Kretam slumps to near three-year low; short selling suspended

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KUALA LUMPUR (May 8): Global sales of semiconductors jumped 15.2% year-on-yera in the first quarter of 2024 to total US$137.7 billion during the first quarter of 2024, according to the US-based Semiconductor Industry Association (SIA).

In a statement on Tuesday, the industry association...

First-quarter global semicon sales jumped 15.2% y-o-y to  US$137.7 billion, says SIA 

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US District Judge Aileen Cannon, who is overseeing the cr...

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PARIS (May 8): Borussia Dortmund showed great composure to reach their third Champions League final after Mats Hummels' second-half goal earned the visitors a 1-0 victory against misfiring Paris St Germain for a deserved 2-0 aggregate win on Tuesday.

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


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Yinson's major shareholder raises Icon stake to 56.67% as MGO closes

<p>Sapura Energy Bhd’s joint venture companies (JVCos) have bagged contracts worth US$1.8 billion (RM8.53 billion) to provide engineering services via six pipe-laying support vessels.</p>


Sapura Energy's JVs win US1.8b worth of contracts in Brazil

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<p>KUALA LUMPUR (May 7): Following its record-breaking year in 2023, CTOS Digital Bhd posted a 25.6% year-on-year jump in its first quarter net profit this year, as it recorded higher revenue and lower tax expense following the approval of a tax incentive for its main subsidiary CTOS Data Systems Sdn Bhd (CDS).</p>


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<p>AwanBiru Technology Bhd (Awantec) reported a net profit of RM2.14 million for its third quarter ended March 31, 2024 (3QFY2024), a significant turnaround from the net loss of RM1.99 million it incurred a year ago, as its software and services segment secured major contracts with higher revenue.</p>


Awantec reports profit in 3Q as revenue jumps on new contracts

<p>BATU KAWAN (May 7): The semiconductor industry presents Malaysia with a once-in-a-generation opportunity for exponential economic growth, and industry players are advised to capitalise on this billion-dollar sector, said&nbsp;Deputy Investment, Trade and Industry Minister Liew Chin Tong on Tuesday.</p>


Semiconductor industry offers Malaysia chance for exponential growth — deputy minister

<p>The Malaysian Communications and Multimedia Commission (MCMC) will sign a Memorandum of Understanding (MOU) with Microsoft on May 14 to develop a digitally skilled workforce, particularly in the artificial intelligence (AI) sector, through education.</p>


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Urusharta Jamaah emerges as third largest shareholder in Prolintas Infra

<p>Apple Inc unveiled a new artificial intelligence-focused iPad Pro and a larger iPad Air, aiming to reinvigorate a tablet lineup that has languished over the past two years.</p>


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<p>GCH Retail (M) Sdn Bhd, the operator of Giant hypermarkets, said the courts are still deciding on the company’s tenancy dispute with its landlord over premises it is currently occupying in Batu Caves.</p>


GCH Retail says Giant Batu Caves tenancy dispute with landlord still being decided by courts

<p>(May 7):&nbsp;Cargoes of an oil product from Russia are building up at sea as South Korean buyers turn cautious, highlighting how the invasion of Ukraine is still impacting flows more than two years later.</p>


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<p>KUALA LUMPUR (May 7):&nbsp;The strategic cooperation between the Malaysian Investment Development Authority (Mida) and the Ministry of Higher Education (MOHE) is expected to catalyse the country’s industrial growth, especially in supporting the development of&nbsp;more&nbsp;talents at the global level.&nbsp;</p>


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<p>KUALA LUMPUR (May 8): Global sales of semiconductors jumped 15.2% year-on-yera in the first quarter of 2024 to total US$137.7 billion during the first quarter of 2024, according to the US-based Semiconductor Industry Association (SIA).</p>

<p>In a statement on Tuesday, the industry association...

<p>(May 7):&nbsp;PCCW Ltd, the telecommunications group controlled by Hong Kong tycoon Richard Li, is in advanced talks to sell a significant minority stake in its fiber business to China Merchants Group Ltd, according to people familiar with the matter.</p>


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<p>Home furniture maker Mobilia Holdings Bhd is planning to issue up to 218.75 million free warrants (Warrants-B), on the basis of one Warrant-B for every four existing shares held by entitled shareholders.</p>


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<p>US stock indexes rose on Tuesday, extending their recent run on expectations that the Federal Reserve will cut interest rates this year, while a drop in shares of Walt Disney following the company's quarterly results limited their gains.</p>


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<p>TotalEnergies SE’s CEO has plenty of reasons to antagonise the French government with the possibility of moving its stock listing to Wall Street. When measured in dollars, there are tens of billions of them.</p>
