<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 5): Magnum Bhd saw 70 million of its shares cross off-market today. This represents 4.93% of the group's total 1.42 billion outstanding shares.</p></div>

<div class=newsTextDataWrapInner><p>Bloomberg data showed that the shares were crossed in 11 blocks, at between 600,000 shares and 20 million shares, for RM154 million or RM2.20 apiece.</p></div>

<div class=newsTextDataWrapInner><p>The transacted price is at a discount of 8.6% from Magnum's closing price of RM2.39 in the open market today.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>However, it is not immediately known as to whom the parties involved in the transaction are.</p></div>

<div class=newsTextDataWrapInner><p>Magnum’s largest shareholder is its non-independent non-executive chairman Tan Sri Surin Upatkoon, who held a 35.84% stake in the company as at Jan 18.</p></div>

<div class=newsTextDataWrapInner><p>At its latest closing price, Magnum has a market capitalisation of RM3.4 billion.</p></div>


KUALA LUMPUR (March 5): Magnum Bhd saw 70 million of its shares cross off-market today. This represents 4.93% of the group's total 1.42 billion outstanding shares.

Bloomberg data showed that the shares were crossed in 11 blocks, at between 600,000 shares and 20 million shares, for RM154...

4.93% Magnum shares traded off-market

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Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.

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Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.

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PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.

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The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.

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<p>Attention this week will be on the March inflation rate, with the <strong>Department of Statistics Malaysia</strong> (DOSM) slated to put out <strong>Consumer Price Index</strong> (CPI) — the key gauge for inflation — data on Thursday.</p>

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<p>A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.</p>


<p>A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.</p>


<p>Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.</p>


<p>Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.</p>


<p>The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.</p>


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<p>Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.</p>


<p>Persistent inflation and higher-for-longer interest rates were cited as key risks to financial stability in the Federal Reserve's (Fed) latest survey of US central bank contacts, with geopolitical troubles and the 2024 US presidential election also mentioned as "a potentially significant source of shocks".</p>


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<p>The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.</p>


<p>PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.</p>


<p>Next week’s earnings reports from some of the market’s biggest technology and growth companies could prove an important test for the US stock rally, which has flagged as expectations for interest cuts fade.</p>


<p>Efforts to reform the Bretton Woods institutions – the International Monetary Fund and the World Bank – are progressing, albeit slowly. In December, the IMF Board of Governors approved a 50% increase in member quotas, which will reduce its reliance on borrowed resources, and the World Bank has re...