<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on October 30, 2018</span></p></div><div class=newsTextDataWrapInner><p><strong>Selangor Properties Bhd (-ve)</strong><br />
TRADING of shares in Selangor Properties Bhd (fundamental: 1.7/3, valuation: 1.4/3), which last Thursday received a proposal on selective capital repayment (SCR) from the controlling shareholder, triggered our proprietary momentum algorithm yesterday for the first time since May 2017. The proposed SCR is to pave way for a privatisation exercise by the Wen family.</p></div>

<div class=newsTextDataWrapInner><p>The stock finished 11 sen or 2.09% up at its all-time high of RM5.38 yesterday, with a total of 601,200 shares traded. In comparison, the stock only saw a 200-day average trading volume of 12,035 shares.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Last Thursday, it was announced to the stock exchange that the Wen family was looking to take the company private through SCR of RM5.70 per share. Under the proposed SCR, the entitled shareholders will receive a total capital repayment of RM622.27 million or RM5.70 per share.</p></div>

<div class=newsTextDataWrapInner><p>The stock has so far gained RM1.32 or 32% since the news broke, from its previous closing of RM4.06 last Wednesday.</p></div>


Selangor Properties Bhd (-ve)
TRADING of shares in Selangor Properties Bhd (fundamental: 1.7/3, valuation: 1.4/3), which last Thursday received a proposal on selective capital repayment (SCR) from the controlling shareholder, triggered our proprietary momentum algorithm ye...

Stock With Momentum: Selangor Properties

Apple Inc has renewed discussions with OpenAI about using the start-up’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.

Apple intensifies talks with OpenAI for iPhone generative AI features

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

Perak to collaborate with rare earth elements company from South Korea, says MB

Global stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen sank to a 34-year low after the Bank of Japan (BOJ) kept monetary policy loose.

Global stocks gain on Big Tech lift; yen slides to 34-year low

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

Who pays for anytime EPF withdrawals?

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

China passes tariff law amid tensions with trading partners

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

Thyssenkrupp sells stake in steel unit to Czech billionaire Kretinsky

Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

BCorp, Capital A, AAX, YNH, Sam Engineering, Turiya, Gadang, Microlink, Nestle, Wiradani, D&O, Homeritz, Unisem

(April 26): HSBC Holdings Plc successfully fought off a London court claim brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co film financing.

HSBC wins £1.3 bil suit over Disney film finance scandal

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

KUB extends deadline for CCB MGO a second time

EVENING 5: Five things you need to know today

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


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<p>KNM Group Bhd said it is seeking court sanction for a new scheme of arrangement with its creditors. The PN17 group is also seeking a further extension of time to submit its regularisation plan.</p>


KNM seeks fresh scheme of arrangement with creditors

<p>China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.</p>


<p>The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.</p>


<p>(April 26):&nbsp;HSBC Holdings Plc successfully fought off a London court&nbsp;claim&nbsp;brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co&nbsp;film financing.</p>


<p>KUALA LUMPUR (April 26):&nbsp;KPJ Healthcare Bhd, through its premier educational institution&nbsp;KPJ Healthcare University (KPJU),&nbsp;has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise&nbsp;healthcare.</p>


KPJ Healthcare, Trusx Malaysia collaborate for AI-driven healthcare solutions

<p>Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over US$2 trillion (RM9.5 trillion), while an in-line inflation reading calmed interest rate jitters.</p>


Wall Street rises as Big Tech charges higher

<p>KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.</p>


<p>US equity funds registered their fourth successive weekly outflows in the week ended April 24, hit by fading expectations for rate cuts this year.</p>


US equity funds see fourth straight week of outflows amid rate cut reassessment

<p>HULU SELANGOR (April 28): The Ministry of Health (MOH) stands by its decision to amend the Medical Act 1971 (Act 50) to bridge the gap between the parallel pathway programme (PPP) and the local medical degree programme, despite objections from some parties.</p>


Health Ministry stands by decision to amend Medical Act 1971

<p>Fast-fashion firm&nbsp;Shein&nbsp;has been drawn under the scope of flagship&nbsp;European Union (EU) rules designed to clamp down on illegal and harmful content online, aimed at stopping the spread of counterfeit items on the platform.</p>


EU hits fast-fashion giant Shein with new digital rules

<p>FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp&nbsp;will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel&nbsp;Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.</p>


<p>HOUSTON/BENGALURU (April 26): Oil giant&nbsp;Chevron&nbsp;Corp&nbsp;beat estimates for first-quarter profit on Friday, as higher production volumes&nbsp;in the US&nbsp;helped offset a hit from weak natural gas prices&nbsp;and fuel margins.</p>


Chevron posts 1Q profit beat with oil production gains

<p>Global&nbsp;stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen&nbsp;sank to a&nbsp;34-year low after the Bank of Japan (BOJ)&nbsp;kept&nbsp;monetary policy loose.</p>


<p>WASHINGTON (April 26):&nbsp;Ukrainian President Volodymyr Zelenskiy called on Friday for additional air defence systems to be sent to Kyiv to help protect against Russian strikes, adding that a pause in US&nbsp;funding had helped Moscow seize the initiative.</p>


Ukraine's Zelenskiy calls for air defence systems as allies meet

<p><strong>A weekly round-up of tanker and dry bulk market (April 26, 2024)</strong></p>


Baltic Exchange shipping updates: April 26, 2024

<p>The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).</p>
