<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on June 26, 2018</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Sona Petroleum Bhd will be delisted from Bursa Malaysia on Thursday, June 28, the company said yesterday.</p></div>

<div class=newsTextDataWrapInner><p>“The entire issued share capital of Sona will be removed from the official list of Bursa Securities with effect from 9am, June 28, 2018 pursuant to Paragraph 16.11(1)(d) of the Main Market Listing Requirements of Bursa Securities,” it told Bursa Malaysia in a filing.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Sona Petroleum was listed on July 30, 2013 as a special purpose acquisition company, but it failed to proceed with its proposed US$25 million qualifying acquisition of the Stag Oilfield located off Western Australia in April 2016.</p></div>

<div class=newsTextDataWrapInner><p>Concerns were raised over the asset’s quality, as well as Sona’s ability to secure an extension of the licence for the oilfield, which expires this year.</p></div>

<div class=newsTextDataWrapInner><p>After missing the three-year QA deadline, Sona Petroleum began its winding up proceedings in August 2016, following which its shares were suspended from trading on Sept 27, 2016.</p></div>


KUALA LUMPUR: Sona Petroleum Bhd will be delisted from Bursa Malaysia on Thursday, June 28, the company said yesterday.

“The entire issued share capital of Sona will be removed from the official list of Bursa Securities with effect from 9am, June 28, 2018 pursuant to Paragraph 16.11(1)(...

Sona Petroleum to delist on Thursday

Hibiscus Petroleum Bhd said it has completed the drilling of the Bunga Aster-1 exploration well and is expecting its first oil production to begin in May.

Hibiscus Petroleum completes drilling at Bunga Aster-1 well, first oil production set for next month

Suria KLCC's established reputation as a premier shopping destination has set it apart from other malls in the same vicinity, which provided it an effective buffer against new competition, according to KLCCP Stapled Group chief executive officer Datuk Md Shah Mahmood.

Suria KLCC shrugs off competition from new malls, with occupancy rate hitting 98% at end-2023

Analysts predict a decline in earnings for Malaysian automotive companies in 2024, attributed to lower sales volumes and higher operating costs, coupled with the emergence of several Chinese original equipment manufacturers (OEMs) offering attractive pricing.

M'sian automakers expected to feel pinch from lower sales, higher costs, rise of Chinese OEMs

KUALA LUMPUR (April 24): Sapura Industrial Bhd plans to collaborate with Mili Tech Sdn Bhd on feasibility studies for electrified vehicle (EV) products and potentially establish a joint venture (JV) business in Malaysia.

Sapura Industrial inks MOU with Mili Tech for feasibility studies on EVs

Tesla expects to book more than US$350 million (RM1.6 billion) in costs in the current quarter for the mass layoffs it began last week, the automaker disclosed on Wednesday, as it shifts focus to more affordable models that it plans to introduce by early 2025.

Tesla expects to book over US$350m in costs for layoffs

Hong Kong Exchanges and Clearing (HKEX) named Carlson Tong as its new chairman, succeeding Laura M Cha who retired after the conclusion of the 2024 annual general meeting, the bourse operator said on Wednesday.

Hong Kong bourse operator names Carlson Tong as new chairman

The retail prices of RON97 and RON95 petrol, as well as diesel will remain unchanged at RM3.47 (RON97), RM2.05 (RON95) and RM2.15 (diesel) per litre from April 25 to May 1.

Fuel prices remain unchanged till May 1

GXBank, Malaysia’s first digital bank, said it plans to establish a regional centre of excellence (COE) for shared services in Malaysia, serving Grab-led digital banks and financial and operational services in the region.

Grab-led GXBank to establish regional centre of excellence in Malaysia by year-end

United Plantations Bhd’s (UP) net profit grew 18.54% year-on-year to RM132.87 million for the first quarter ended March 31, 2024 (1QFY2024), mainly due to a sharp drop in finance cost, on the back of slightly higher revenue, thanks to higher crude palm oil (CPO) and palm kernel (PK) prices.

United Plantations kicks off FY2024 on positive note as 1Q profit rises 18.5%

(April 24): Firms making up more than half of Asia’s stock market value are vulnerable to deforestation, species loss and other nature-related risks, according to a new report, as governments ramp up regulations and industries continue to deplete the planet’s resources.

Investors spot new nature-related risk in firms worth half of Asia’s market value

<p>The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.</p>




Najib's 1MDB-Tanore trial live reporting (April 24)

<p>Farm Price Holdings Bhd on Wednesday began taking orders from investors for its initial public offering (IPO) on the ACE Market to raise up to RM32.4 million.</p>

<p>The IPO, priced at 24 sen apiece, involves a public issuance of 102 million new shares as well as an offer for sale of 33 million existing shares, according to its prospectus. All in, the listing offers investors a 30% stake in the Johor-based wholesalers and vegetables distributor.</p>


Farm Price starts taking orders for ACE Market IPO to raise up to RM24.48 mil

<p>Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is the entity that is bidding to acquire SriLankan Airlines, and if it materialises, will raise its own capital for the acquisition, according to chief executive officer Tan Sri Tony Fernandes.</p>


AirAsia Consulting, not AirAsia, is bidding for SriLankan Airlines, says Fernandes

<p>Analysts predict a decline in earnings for Malaysian automotive companies in 2024, attributed to lower sales volumes and higher operating costs, coupled with the emergence of several Chinese original equipment manufacturers (OEMs) offering attractive pricing.</p>


<p>With Malaysia’s 5G outdoor coverage having reached the 80% target for coverage of populated areas (CoPA) at the end of 2023 and after the signing of the share subscription agreements (SSAs) by five mobile network operators (MNOs) on Dec 1, 2023, what’s next for the next stage of 5G deployment in Malaysia?</p>


What’s next for 5G deployment in Malaysia?

<p>Carlsberg Brewery Malaysia Bhd, the locally-listed unit of the Danish brewer, confirmed the price increases for its beer products starting this month.</p>


Carlsberg Malaysia raises prices of beers to preserve margin

<p>JASMINE Loo was the third individual wanted by the authorities, on the Interpol Red Notice list, &nbsp;to return to Malaysia.</p>

<p>More than 10 years on from the first signs of trouble at 1Malaysia Development Bhd (1MDB), there are still a number of individuals who remain on the run, sought ...

Most yet to return to face the music

<p>One of the world’s busiest land checkpoints is set to become less congested as Malaysians travelling to Singapore on factory buses will be able to clear immigration through QR code.</p>


Malaysia to start using QR code at checkpoints with Singapore, report says

<p>E-government services provider MyEG Services Bhd has inked an agreement to collaborate on the launch of a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products.</p>


MyEG inks partnership to launch Hong Kong virtual assets

<p>Bursa Malaysia remained in positive territory at the midday break on Wednesday, supported by continuous buying in selected heavyweight counters, especially in the telecommunications and media sectors.&nbsp;</p>


Telco shares lift Bursa higher at midday

<p>Capital A Bhd’s board of directors has decided to extend Tan Sri Tony Fernandes'&nbsp;tenure as the chief executive officer for another five years, and as a strategic adviser to the airlines business, which is poised to be merged into AirAsia X Bhd.</p>


Fernandes to be CEO of Capital A for another five years

<p>Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.</p>


NationGate may extend upward trajectory, says Rakuten Trade 

<p>Shares of DXN Holdings Bhd surged on Wednesday to its highest in more than a month as analysts continued to urge investors to buy the stock after the health supplement company’s fourth-quarter (4Q) results.</p>


DXN climbs over one-month high, analysts see positive outlook

<p>French electronic manufacturing service firm eolane has launched a new manufacturing plant in Kulim Hi-Tech Park, Kedah involving an investment of €8.7 million (RM45 million) for the first phase of the project.</p>


France-based eolane launches RM45 mil facility in Kulim Hi-Tech Park

<p>The Malaysian Anti-Corruption Commission investigating officer (MACC IO) probing Datuk Seri Najib Razak in relation to the 1Malaysia Development Bhd (1MDB) debacle never asked the former prime minister if he had instructed for the controversial transfer of US$700 million to a company linked to fugitive Low Taek Jho (Jho Low), the court heard on Wednesday.</p>


MACC officer did not ask Najib if he instructed controversial transfer of US$700m to Good Star

<p>Gold’s record-setting rally this year has puzzled market watchers, as bullion has roared higher, despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.</p>


Gold’s record-setting rally may have its roots in Chinese frenzy

<p>Haily Group Bhd shares continued their uptrend on Wednesday to a near all-time high, after the construction outfit won a RM109.5 million contract for terrace houses in Pontian, Johor.</p>


Haily shares near all-time high after securing RM109.5m housing job

<p>KUALA LUMPUR (April 24): Dataprep Holdings Bhd said on Wednesday that Tan Sri Muhammad Ikmal Opat Abdullah has ceased to be the substantial shareholder in the IT products and services company.</p>


Muhammad Ikmal of Widad ceases to be Dataprep’s substantial shareholder as shares sale continues

<p>Several important developments related to Digital Nasional Bhd (DNB), including the appointment of its board members and the direction of the agency, will be announced on Thursday, said Communications Minister Fahmi Fadzil.</p>


Digital minister to unveil DNB board, announce new developments tomorrow — Fahmi

<p>Bursa Malaysia closed at a two-year high on Wednesday with the key index rising 0.63%, driven by a positive outlook on the local bourse and amid an upbeat performance by regional peers.&nbsp;</p>
