<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 15): Sona Petroleum Bhd announced today it has obtained the tax clearance needed for a final distribution of monies in its cash trust account to its shareholders.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with the stock exchange today, the special purpose acquisition company (SPAC) said the final distribution will be made in April, with an actual date to be announced in due course.</p></div>

<div class=newsTextDataWrapInner><p>The SPAC had initially aimed to return remaining cash in its cash trust account of 1.39 sen per share to its shareholders by December 2017. The distribution can only be made after tax clearance is obtained.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>As the liquidator has called for a proof of debt, creditors of the company have until April 5 to submit details, in writing, of any claim against the company to the liquidator to be included in the distribution.</p></div>

<div class=newsTextDataWrapInner><p>In September 2016, the High Court granted an order to wind up the SPAC after its failure to make a qualifying acquisition, which had to be completed by July 3, 2017.</p></div>

<div class=newsTextDataWrapInner><p>It then returned 47.99 sen per share in October 2017, which represented 97% of the monies held in its cash trust account.</p></div>

<div class=newsTextDataWrapInner><p>Additionally, the winding up of the company's wholly-owned Sona Goldhill Sdn Bhd is ongoing, while that of its unit Sona E&amp;O (Perth) Pty Ltd has been completed, it said in its bourse filing today.</p></div>

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KUALA LUMPUR (March 15): Sona Petroleum Bhd announced today it has obtained the tax clearance needed for a final distribution of monies in its cash trust account to its shareholders.

In a filing with the stock exchange today, the special purpose acquisition company (SPAC) said the final...

Sona Petroleum gets tax clearance for final cash distribution due April

The debris from a missile that landed in the Ukrainian city of Kharkiv on Jan 2 was from a North Korean Hwasong-11 series ballistic missile, United Nations sanctions monitors told a Security Council committee in a report seen by Reuters on Monday.

UN experts say North Korea missile landed in Ukraine's Kharkiv

KUALA LUMPUR (April 30): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday (April 29):

QSR Brands and KFC Malaysia confirmed it suspended operations of its outlets to manage costs, amid news that over 100 of its outlets have ceased...

QSR Brands, Nestle, ViTrox, LPI Capital, Ajiya, YTL REIT, Tex Cycle, Gadang, HHRG, Sapura, MSC, Capital A, BSL, Oppstar

YNH Property Bhd on Monday made a belated announcement about transactions involving its 6.49-acre land in Segambut, which it had inked an agreement in September last year to sell for RM59.58 million but revoked last week to have Chin Hin Group Property Bhd develop the plot in return for at least RM52 million.

YNH makes belated announcement about transactions involving its Segambut land

Shares of YTL Power International Bhd and YTL Corp Bhd rose to fresh highs on Monday as investors piled on stocks with exposure in artificial intelligence (AI).

YTL Power, YTL Corp touch new highs

Kossan Rubber Industries Bhd has clarified that the fire at a paint factory in Meru Industrial Park, Klang on Monday (April 29) had no impact on operations at its rubber glove factories.

Fire outbreak at paint processing plant 'has nothing to do with Kossan Rubber Industries', says MD

A vessel that reported on Monday an explosion in its proximity, 54 nautical miles northwest of Yemen's Mokha, has sustained damage but the ship and crew are safe and proceeding to next port of call, the United Kingdom Maritime Trade Operations (UKMTO) agency said.

Vessel sustains damage near Yemen's Mokha after explosion in its proximity, says UKMTO 

HHRG Bhd was slapped with a RM58.18 million suit by Ooi Chieng Sim, in relation to a loan given out by the former executive chairman to the company.

HHRG faces RM58 mil suit over alleged default of loan by ex-chairman

Integrated circuit (IC) design service provider Oppstar Bhd is collaborating with South Korea’s tech giant Samsung Electronics Co Ltd for the production of industrial ICs manufactured using Samsung’s 14 nanometre (nm) FinFET technology foundry process.

Oppstar partners with Samsung to produce industrial integrated circuits

Prime Minister Datuk Seri Anwar Ibrahim held a bilateral meeting with his Pakistani counterpart Muhammad Shehbaz Sharif on the sidelines of the World Economic Forum (WEF) Special Meeting here on Monday.

PM meets Pakistani counterpart, Turkiye foreign minister

The ideas and initiatives of the National TVET council and the National Entrepreneur Development Council will be coordinated to ensure the rapid development of the technopreneur section, Deputy Prime Minister Datuk Seri Dr Ahmad Zahd Hamidi said.

TVET, entrepreneur development councils to be coordinated to ensure rapid development — DPM

<p>Saudi Arabia-based renewable energy giant ACWA Power has expressed interest in investing more than&nbsp;US$10 billion (RM47.64&nbsp;billion) in Malaysia over a 10-year period.</p>

<p>Among the proposed projects are those to be undertaken through collaboration with a local company, Cypark Resources Bhd.</p>


Saudi-based ACWA Power keen on investing over US$10b in M'sia, some projects in collaboration with Cypark

<p>Permodalan Kedah Bhd (PKB) has inked a memorandum of understanding (MOU) with Royal Eco Train Development, Republic of Korea (RETD Korea), for the Light Rail Transit (LRT) project in Langkawi.</p>


Permodalan Kedah inks MOU with Korean firm for LRT in Langkawi

<p>Following reports that over 100 KFC outlets have been temporarily closed after about half a year of boycott movement, QSR Brands (M) Holdings Bhd and KFC Holdings (M) Bhd (KFC Malaysia) said they suspended the operations of the outlets to manage increasing business costs amid challenging economic conditions, and to focus on high engagement trade zones.&nbsp;</p>


QSR confirms temporary closure of KFC outlets, says it is to manage rising costs

<p>KUALA LUMPUR (April 29): Capital A Bhd said on Monday that the number of passengers it carried rose 17% year-on-year (y-o-y) to 15.4 million in the first quarter of 2024 (1Q2024), on the back of strong travel demand during the school holidays and Chinese New Year.</p>


Capital A’s passenger volume rises 17% in 1Q, load factor climbs to 90%

<p>Twenty-eight National Service Training Programme operators nationwide have filed a multimillion-ringgit suit against the government for purported breach of the main contract resulting in losses of rental for 27 months and total losses of RM108.737 million to them.</p>


Twenty-eight National Service Training Programme operators sue govt for RM108.74m in losses

<p>Gadang Holdings Bhd has called off its planned acquisition of a 21.08-acre land in Kwasa Damansara — known as R3-1 — for RM114.78 million from Kwasa Development (3) Sdn Bhd (KD3), to be developed into a residential project.</p>


Gadang fails in appeal to EPU for Bumi equity waiver to buy Kwasa Damansara land

<p>Tin producer Malaysia Smelting Corp Bhd (MSC) on Monday declared a final dividend of seven sen per share, amounting to RM29.4 million, for the financial year ended Dec 31, 2023 (FY2023).</p>


Malaysia Smelting Corp announces final dividend of seven sen per share

<p>Sapura Energy Bhd has landed a five-year contract from PTTEP Sabah Oil Ltd and PTTEP Sarawak Oil Ltd to provide underwater services.</p>


Sapura Energy bags underwater service contract from Thai-owned PTTEP group

<p>SEPANG (April 29): The Malaysian Aviation Commission (Mavcom) does not expect any further delays to the implementation of the Airports Quality of Services (QoS) Framework at the Kuala Lumpur International Airport (KLIA) beyond this year. &nbsp;</p>


No more delays for full implementation of Airports QoS Framework at KLIA, says Mavcom

<p>KK Supermart &amp; Superstore Sdn Bhd Group founder and executive chairman Datuk Seri Dr Chai Kee Kan&nbsp;and his wife, Datin Seri Loh Siew Mui, who are facing two counts of intentionally wounding the religious feelings of others over&nbsp;the sale of socks bearing the word 'Allah', will submit a representation to the Attorney General's Chambers (AGC).</p>


'Allah' socks: KK Mart founder, wife to submit representation to AGC

<p>Here’s a quick look at some of the stories that made headlines today.</p>


EVENING 5: Five things you need to know today

<p>KUALA LUMPUR (April 30): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday (April 29):</p>

<p>QSR Brands and KFC Malaysia confirmed it suspended operations of its outlets to manage costs, amid news that over 100 of its outlets have ceased...

<p>Kuala Lumpur Kepong Bhd (KLK) said that it had completed all reimbursements of recruitment and related fees in compliance with the group’s strict no-recruitment-fee policy.</p>


KLK says it completed reimbursement of fees following unethical recruitment allegations

<p>Analysts have raised their earnings forecasts and target prices (TPs) for Homeritz Corp Bhd, after the group's latest set of financial results beat their expectations on higher-than-expected sales volume.&nbsp;</p>


Analysts raise Homeritz earnings forecasts, TPs on 2Q beat despite cautious outlook

<p>The regular market for US equities runs for 390 minutes on a standard trading day. But at the rate things are going, eventually the last 10 might be the only ones that matter.</p>


Increasingly, only last 10 minutes of US stock trading matter

<p>YTL Hospitality REIT (YTL REIT) is planning to develop a hotel in Hokkaido, Japan, for an estimated total cost of RM199 million.</p>


YTL REIT to develop a Moxy hotel in Hokkaido for RM199 mil

<p>China hinted on Monday that it could retaliate after US President Joe Biden signed into law legislation to boost Taiwan's defences and seeks to get TikTok's Chinese owner to divest from the social media platform.</p>


China hints at retaliation after Biden signs Taiwan, TikTok legislation

<p>The Malaysian government is committed to ensuring that investments made by the Armed Forces Fund Board (LTAT) in domestic and international companies yield consistent and robust returns, according to Defence Minister Datuk Seri Mohamed Khaled Nordin.</p>


Govt committed to ensuring LTAT's investments yield consistent returns — minister

<p>Yahoo is letting go of its editorial and social media teams in Singapore. In total, 17 staff will leave the digital news publication after May 7,&nbsp;<i>The Edge Singapore&nbsp;</i>understands.&nbsp;</p>


Yahoo to lay off all journalists, social media executives in Singapore — source

<p>AirAsia X Bhd’s (AAX) passenger load factor rose to 83% in the first quarter of this year (1Q2024), from 80% in the same period a year earlier, driven by robust travel demand.&nbsp;</p>
