<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 1): Plastic packaging materials manufacturer Tomypak Holdings Bhd announced that two of its directors, Chow Wen Chye and Teng Chew Guat, have entered into a share sale agreement to dispose of a combined 25.48% stake in the company to New Orient Resources Sdn Bhd.<br />
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Both Chow and Teng will be disposing 6.59 million shares (6.02% stake) and 21.3 million shares (19.48% stake) in Tomypak respectively, at RM1.30 per share.<br />
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Tomypak added the completion of the sale and purchase will take place on Oct 15, or at any other time as may be mutually agreed.<br />
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“The company will make further announcement to the exchange, upon the receipt of further notification by the above mentioned parties,” it added.<br />
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Shares in Tomypak remained flat at RM1.30 today, with market capitalisation of RM142.14 million.</p></div>

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KUALA LUMPUR (Oct 1): Plastic packaging materials manufacturer Tomypak Holdings Bhd announced that two of its directors, Chow Wen Chye and Teng Chew Guat, have entered into a share sale agreement to dispose of a combined 25.48% stake in the company to New Orient Resources Sdn Bhd.

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Tomypak directors to sell 25.48% stake at RM1.30 per share

Four of seven ships trapped in Baltimore Harbour since the Francis Scott Key Bridge collapsed last month have cleared the wreckage and are en route to their destinations.

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Intel forecast second-quarter revenue and profit below market estimates on Thursday, sending its shares tumbling roughly 8% as it faces weak demand for its traditional data centre and PC chips and trails in the surging market for artificial intelligence (AI) components.

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China’s top diplomat Wang Yi warned his American counterpart that problems are mounting between the world’s largest economies, as the US threatens Beijing with sanctions for its support of Russia.

China warns Blinken ‘negative factors’ building in US relations

Microsoft beat Wall Street estimates for third-quarter revenue and profit on Thursday, driven by gains from adoption of artificial intelligence (AI) across its cloud services, and the company's shares jumped more than 4% in extended trade.

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The US plans to award Micron Technology Inc US$6.1 billion (RM29.14 billion) in grants and as much as US$7.5 billion in loans to help the memory-chip maker build new American factories, rounding out a slew of major federal awards for advanced semiconductor manufacturing.

Micron clinches up to US$13.6b in US grants, loans

US Treasury Secretary Janet Yellen said on Thursday the strong dollar reflected the strength of the US economy and high interest rates, insisting that interventions by governments in currency markets were acceptable only in rare circumstances.

Yellen says currency intervention acceptable only in rare situations

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

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Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.

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HLIB is positive on how AME REIT ended the year.

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China is preparing a United Nations General Assembly resolution that it says is intended to help close gaps between rich and developing countries in the advance of artificial intelligence (AI), an initiative that follows an extensive and ambitious campaign by the US, its biggest AI competitor.

China prepares UN resolution to tap AI for good

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


AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

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<p>TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.</p>


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<p>Harvey Weinstein's 2020 conviction for sexual assault and rape was overturned by New York's highest court, reopening the landmark case that fuelled the #MeToo movement and highlighting the challenges of holding powerful men accountable.</p>


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<p>Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.</p>


<p>US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told <em>Reuters </em>on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.</p>


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<p>The Securities Commission Malaysia (SC) has updated its Investor Alert List.</p>


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<p>RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.</p>


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<p>RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.</p>


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<p>The Tesla Inc shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion (RM267.54 billion) pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.</p>


Tesla fires back at investor who doesn’t want pay fight in Texas

<p>Former president Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter.</p>


Trump advisers discuss penalties for nations that move away from the dollar

<p>Alphabet announced its first-ever dividend on Thursday and a US$70 billion (RM334.43 billion) stock buyback, cheering investors who sent the stock surging nearly 16% after the bell.</p>


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<p>One fixture lurking like a troll in Arsenal's Premier League title run-in has probably consumed the thoughts of the club's fans more than any other — Sunday's short trip to arch-rivals Tottenham Hotspur.</p>


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<p>China is preparing a United Nations General Assembly resolution that it says is intended to help close gaps between rich and developing countries in the advance of artificial intelligence (AI), an initiative that follows an extensive and ambitious campaign by the US, its biggest AI competitor.</p>


<p>Foreign states are using UK universities to “steal advantage” by covertly acquiring British intellectual property, the government warned, saying it would explore proposals to protect cutting-edge research and technology.</p>


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<p>Stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook and Instagram owner Meta hammered the tech sector, and Japan's yen sank through 155 per dollar for the first time since 1990.</p>
