<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 16): ACE Market-listed Scope Industries Bhd said today that its one-for two rights issue at 17.5 sen per rights share was over-subscribed by 33.67%.</p></div>

<div class=newsTextDataWrapInner><p>This is as the group saw 37.36% of valid excess applications, although total valid acceptances only amounted to 96.31% or 370.37 million shares, for the printed circuit board (PCB) manufacturer to raise RM64.81 million.</p></div>

<div class=newsTextDataWrapInner><p>The rights shares will be listed on July 27, the company added.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Scope Industries made the cash call to raise up to RM67.3 million, mainly for the expansion of electronic manufacturing facility in Perak, future investments and working capital.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Scope Industries rose half a sen or 2.17% to 23.5 sen, valuing the group at RM271.11 million.</p></div>


ACE Market-listed Scope Industries Bhd said today that its one-for two rights issue at 17.5 sen per rights share was over-subscribed by 33.67%.

This is as the group saw 37.36% of valid excess applications, although total valid acceptances only amounted to 96.31% or 370.37 million shares, for the printed circuit board (PCB) manufacturer to raise RM64.81 million.

Scope Industries rights issue 33% over-subscribed, raises RM64.81 million

OSLO (April 29): Norway's US$1.6 trillion sovereign wealth fund, one of the world's largest investors, will support HSBC's proposed bonus policy change for so-called material risk takers (MRTs), the Norwegian fund manager's updated voting intentions showed on Monday.

Norway sovereign wealth fund backs HSBC bonus policy reform

The business reorganisation plan announced last week by the two friends and business partners — Tan Sri Tony Fernandes and Datuk Kamarudin Meranun — is the final piece of the jigsaw to get the group of companies they control back on a stronger footing, at least in the restructuring of their balance sheet.

Frankly Speaking: Best chance for Cap A and AAX

The yen jumped suddenly against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities to boost the currency that is languishing near 34-year lows.

Japan's yen jumps against the dollar on suspected intervention 

Asian emerging market currencies were subdued on Monday after inflation data in the US further dimmed the prospects of interest rate cuts soon, with all eyes on the Federal Reserve's (Fed) policy meeting later in the week.

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KUALA LUMPUR (April 29): Bersatu Information Committee member Badrul Hisham Shaharin, or Chegu Bard, was charged in the Sessions Court here on Monday with two counts of inciting hatred and issuing defamatory remarks which will tarnish the good name of His Majesty Sultan Ibrahim, King of Malaysia.

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Tesla Inc is set to clear a key hurdle to introduce its advanced assisted driving features in China by partnering with Baidu Inc in mapping and navigation functions, people familiar with the matter said.

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Three people, including a two-year old boy, died after a Huawei-backed Aito M7 SUV burst into flames following a crash with a truck on a highway in the Chinese city of Yuncheng in the northern province of Shanxi, state media said.

China crash involving Huawei-backed Aito electric vehicle kills three

Shares of YNH Property Bhd surged to their highest in three weeks as investors breathed a sigh of relief after the real estate developer said it has remedied the technical default of its sukuk programme.

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Foreign direct investment into Indonesia rose 15.5% on a yearly basis in rupiah terms to 204.4 trillion rupiah (RM60 billion) in the first quarter, investment ministry data showed on Monday, up significantly from the 5.3% growth in the previous quarter.

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Chicago wheat futures fell on Monday but remained near four-month highs after concerns that adverse weather conditions in Russia, Europe and the US could reduce supply pushed prices up around 10% last week.

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<p>QSR Brands (M) Holdings Bhd is suspending over 100 KFC outlets temporarily nationwide after about half a year of boycott movement, <em>Nanyang Siang Pau</em> reported, citing information from Google Maps.</p>


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<p>Berjaya Corp Bhd (BCorp), which last week denied that its founder Tan Sri Vincent Tan Chee Yioun had participated in talks to revive a US$100 billion (RM477.60 billion) Forest City casino resort as reported recently, has lodged reports for the police to commence investigation into the above matter, specifically to, amongst others, ascertain and find out the purported “unnamed source” who disseminated complete untrue and false statements.</p>


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<p>KUALA LUMPUR (April 29): Mercury Securities Sdn Bhd has recommended investors “subscribe” ACE Market-bound Farm Price Holdings Bhd at an initial public offering (IPO) price of 24 sen and a fair value (FV) of 29 sen based on 13x FY2024F earnings per share, translating to 21% upside to IPO price.</...

Mercury Securities advises investors to subscribe ACE Market-bound Farm Price with fair value of 29 sen 

<p>Shares of YNH Property Bhd surged to their highest in three weeks as investors breathed a sigh of relief after the real estate developer said it has remedied the technical default of its sukuk programme.</p>


<p>KOTA BHARU (April 28): Oil and gas exploration and production outfit Hibiscus Petroleum Bhd is looking to leverage the economic boom in the Tok Bali area (in Kelantan), by using it as one of its operating hubs.&nbsp;</p>


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<p>When South Korea decided to host a US anti-ballistic missile system, the lucrative flow of tourists from neighboring China suddenly dried up. When Australia accused Beijing of meddling in its domestic politics and demanded answers over the origins of Covid-19, China stopped buying exports like coal, wine and beef.</p>


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<p>Real estate developer UOA Development Bhd said it plans to launch two new projects worth an estimated RM2.7 billion in gross development value (GDV) this year.</p>


UOA Development to launch two projects worth RM2.7b by June

<p>An appliance maker in southern China is finding it hard to ship its products to Russia, not because of any problems with the gadgets but because China's big banks are throttling payments for such transactions out of concern over US sanctions.</p>


China firms go 'underground' on Russia payments as banks pull back

<p>Top Glove Corporation Bhd bagged the Platinum Trusted Brand Award in the Hygiene/Disposable Gloves category at the Reader’s Digest Malaysian Trusted Brand 2024 awards.</p>


TotalEnergies has stated commitment to boost investment in Malaysia's upstream O&G sector — Anwar

<p>Shares of Turiya Bhd rallied on Monday to their highest in over three years after Tan Sri Mohan MK Swami and his partner agreed to acquire a 58% stake in the property management firm for RM52.86 million.</p>


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<p>Three people, including a two-year old boy, died after a Huawei-backed Aito M7 SUV burst into flames following a crash with a truck on a highway in the Chinese city of Yuncheng in the northern province of Shanxi, state media said.</p>


<p>The yen jumped suddenly against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities to boost the currency that is languishing near 34-year lows.</p>


<p>Engineering solutions provider Kawan Renergy Bhd on Monday began taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM33 million.</p>


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<p>RIYADH (April 28): Agrobank&nbsp;president and chief executive officer Tengku Ahmad Badli Shah Raja Hussin has been re-elected as vice-chairman of the Association of National Development Finance Institutions in Member Countries of the Islamic Development Bank (Adfimi) from 2025-2027.</p>


Agrobank’s Tengku Ahmad re-elected as Türkiye-based Islamic bank association’s vice-chairman

<p>After eight consecutive weeks of net selling, foreign investors shifted to become net buyers on Bursa Malaysia last week, with a total investment of RM292.2 million.</p>


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<p>RIYADH (April 28): The Asean-Gulf Cooperation Council (Asean-GCC) should find mechanisms to advance trade, investments, collaboration and research, said Malaysian Prime Minister Datuk Seri Anwar Ibrahim.</p>


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<p>Once renowned as avid overseas tourists, the Japanese are staying closer to home these days.</p>


Weaker yen keeps Japanese tourists at home while visitors throng

<p>Singapore Telecommunications on Monday forecast non-cash impairment provisions of S$3.1 billion (RM10.8 billion) for second-half of 2024 which would lead to the telecom giant reporting a net loss for the period.</p>


Singtel sees US$2.3b impairment hit, net loss in 2H2024

<p>Asian stocks got off to a positive start on Monday ahead of the Federal Reserve's policy meeting later in the week, while the dollar broke past the psychologically key level of ¥160 for the first time in decades.</p>
