<div class=newsTextDataWrapInner><p>BENGALURU (July 12): Australian Pharmaceutical Industries on Monday said it has received an unsolicited, non-binding buyout proposal from retail conglomerate Wesfarmers that values the pharmacy chain operator at A$679.9 mln ($508.9 mln).</p></div>

<div class=newsTextDataWrapInner><p>Under the offer, shareholders of the pharmaceutical firm would get A$1.38 apiece, a premium of 20.5% to API's last close of A$1.145 on Friday.</p></div>

<div class=newsTextDataWrapInner><p>The deal would give Wesfarmers access to API's network of retail stores, skincare clinics, and a distribution network of pharmaceutical and healthcare products, marking Wesfarmers' entry into the country's health sector.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"If the proposal is successful, API would form the basis of a new healthcare division of Wesfarmers and a base from which to invest and develop capabilities in the health and wellbeing sector," Wesfarmers said in a separate exchange filing.</p></div>

<div class=newsTextDataWrapInner><p>API's major shareholder Washington H Soul Pattinson Co , which owns 19.3% in the pharmaceutical firm, has indicated its support for the proposal and agreed to vote in favour of it, the retail conglomerate added.</p></div>

<div class=newsTextDataWrapInner><p>Earlier, API said in a separate filing that it would stop manufacturing personal care and over-the-counter products in New Zealand in a move to simplify its business, and flagged a hit to its earnings for the full-year ending Aug. 31.</p></div>


Australian Pharmaceutical Industries on Monday said it has received an unsolicited, non-binding buyout proposal from retail conglomerate Wesfarmers that values the pharmacy chain operator at A$679.9 mln ($508.9 mln). Under the offer, shareholders of the pharmaceutical firm would get A$1.38 apiece, a premium of 20.5% to API's last close of A$1.145 on Friday.

Australian Pharmaceutical Industries gets US$509 mln buyout proposal from Wesfarmers

Thailand's 500 billion baht (US$13.51 billion or RM64.57 billion) "digital wallet" stimulus policy gained cabinet approval on Tuesday, Prime Minister Srettha Thavisin said, clearing another hurdle for the signature policy of the ruling Pheu Thai party.

Thailand's US$13.5b household stimulus plan gets cabinet approval

KUALA LUMPUR (April 23): The Ministry of Energy Transition and Water Transformation (Petra) is on the right track to achieve 98% access to clean water and sewerage coverage in rural areas by the end of 2025, said Deputy Minister Akmal Nasrullah Mohd Nasir.

Ministry poised for 98% rural area access to clean water, sewerage coverage by end-2025 — Akmal Nasrullah

MOSCOW (April 22): Russia said on Monday that U.S., British and French military support for Ukraine has pushed the world to the brink of a direct clash between the world's biggest nuclear powers that could end in catastrophe.

Lavrov said Western support for Ukraine was putting the Unite...

Russia warns of direct clash with West over Ukraine

The Sabah Forestry Department collected a revenue of RM155.32 million in 2023, the Sabah legislative assembly was told on Tuesday.

Assistant Minister to the Chief Minister Datuk Nizam Abu Bakar Titingan said from this amount, RM93.27 million is from royalties from timber-related activities and RM3.87 million is from the collection of fees for the inspection of exported wood products.

Sabah Forestry collects RM155.32 mil in revenue

A total of 71,052 vehicles were sold in March 2024 throughout Malaysia, up 10.5% month-on-month from the 64,290 units sold in February, but down nearly 10% from a year ago, according to the Malaysian Automotive Association (MAA).

MAA: Vehicles sales up 10.5% month-on-month in March

India's sugar consumption this year is poised to hit a record high as demand during the peak summer season gets a boost from heat waves and the mobilisation of millions for elections in the scorching temperatures.

India's sugar demand surges in heat wave and election season

US Supreme Court justices confronted the nation's homelessness crisis on Monday as they wrestled with the legality of local laws used against people who camp on public streets and parks in a case involving a southwest Oregon city's anti-vagrancy policy.

US Supreme Court scrutinises anti-camping laws used against the homeless

The bodies of the 10 victims involved in the mid-air collision and crash involving two helicopters at the Royal Malaysian Navy (RMN) base in Lumut were recovered earlier on Tuesday.

Police confirm all bodies recovered from helicopters' crash

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

Najib's 1MDB-Tanore trial live reporting (April 23)

KUALA LUMPUR (April 23): Malaysia still has the advantages for the “China plus one” (China+1) strategy, despite facing rising competition from its neighbouring countries, according to the Socio-Economic Research Centre (SERC).

Malaysia still frontrunner for China+1 strategy despite rising competition from regional countries, says SERC

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


<p>Ten members of the Royal Malaysian Navy (RMN) were confirmed dead in an incident where two helicopters collided and crashed at the Royal Malaysian Navy (RMN) base in Lumut, Perak on Tuesday morning.</p>


Two helicopters crash in Lumut, 10 confirmed killed — RMN

<p>Shares of Topmix Bhd surged 32% in its trading debut on Tuesday after the surface decorative products company’s initial public offering (IPO) on the ACE Market raised RM31.7 million.</p>


Topmix surges 32% on ACE Market debut

<p>Healthcare stocks still have legs to run following the recent rally and investors should continue to buy hospital operators for their further earnings growth this year, analysts said.</p>


KPJ near record high, IHH surges as analysts bet on more upside

<p>Brazil's government said on Monday that four additional poultry plants have been cleared to sell halal products to Malaysia, a move it hopes will allow exports to the Asian country to double when compared to last year's levels.</p>


Brazil says Malaysia clears four more halal poultry plants for export

<p>Eight contractors face possible Malaysia Competition Commission (MyCC) fines for alleged bid rigging in 2019, in respect of two tenders of the Public Works Department (JKR) and one tender of the Department of Drainage and Irrigation.</p>


Eight contractors face possible MyCC fines for bid rigging in tenders worth RM473m

<p>Malaysia’s construction tender prices are&nbsp;expected to grow by 3% in 2024, compared to the previous year, driven by various factors such as project type, industry procurement strategy and currency fluctuations, according to a report by global professional services company Turner &amp; Townsend.</p>


Malaysia’s construction tender prices to grow by 3% in 2024, says Turner & Townsend

<p>Asian shares extended gains on Tuesday, taking cues from Wall Street as investors' focus shifts to earnings reports from US tech giants in the week, while a still strong dollar pressured the Japanese yen to fresh 34-year lows.</p>


Asian shares extend gains ahead of tech earnings, yen fragile

<p>Former Umno Supreme Council member Hizatul Isham Abdul Jalil or better known as Isham Jalil has offered to make an unreserved apology to bring an end to his contempt of court proceedings.</p>


Ex-Umno leader ready to apologise in contempt of court case

<p>Indonesian President Joko Widodo and his son, incoming vice-president Gibran Rakabuming Raka, are no longer members of the country's largest party after they backed rival candidate and election winner Prabowo Subianto, a party official said on Tuesday.</p>


Indonesia's biggest party confirms President Jokowi no longer a member after backing Prabowo

<p>Datin Seri Rosmah Mansor's appeal against her guilty conviction and sentence over all three counts of graft pertaining to the RM1.25 billion solar hybrid project for 369 rural schools in Sarawak will be heard in October.</p>


October hearing for Rosmah's appeal in solar project graft trial

<p>Chinese universities and research institutes recently obtained high-end Nvidia artificial intelligence (AI) chips through resellers, despite the US widening a ban last year on the sale of such technology to China.</p>


China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show

<p>Hong Leong Investment Bank (HLIB) has a “trading buy” rating on SDS Group Bhd and said with 33 of its F&amp;B outlets situated across Johor state, and a wholesale segment that is focusing in this region, SDS appears strategically positioned to leverage the burgeoning vibrancy in Johor, propelled further by the continuous influx of visitors from Singapore.</p>


SDS strategically positioned to leverage burgeoning vibrancy in Johor, says HLIB 

<p>Bursa Malaysia opened higher on Tuesday, taking its cue from Wall Street’s better performance overnight, as sentiment improves after Iran said it will not escalate the conflict with Israel, said an analyst.</p>


Bursa up in early trade, tracking Wall Street overnight

<p>Malton Bhd has unveiled the final tower (Block B) of River Park, following the successful launch of its previous Tower A and Tower C blocks with more than 70% take-up rate.</p>


Malton unveils River Park's final tower

<p>Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is still in the pre-qualification stage for the acquisition of national carrier SriLankan Airlines.&nbsp;</p>

<p>However, AirAsia Consulting has yet to submit any price bid since due diligence has not been carried out, its chief executive officer Subashini Silvadas told <em>The Edge</em> on Tuesday.</p>


Capital A’s unit in RFQ process for SriLankan Airlines, no price bid yet

<p>Swatch Group (M) Sdn Bhd&nbsp;said the seizure of its 172 rainbow-themed watches had caused much grief to its international reputation, as the renowned Swiss watch maker had always been dutiful citizens of any state where the watches were sold.</p>


Swatch says advocating compassion for LGBTQ is not a crime, seizure illegal

<p>Rakuten Trade has a “buy” rating on ACE Market-bound surface decorative products company Topmix Bhd at an initial public offering (IPO) price of 31 sen, with a fair value of 40 sen based on financial year 2024 (FY2024) forecast price-earnings (PE) of 15x, in line with industry peers.</p>


Rakuten Trade values Topmix at 40 sen, expects FY2023-FY2026 earnings to grow at CAGR of 25%

<p>Wall Street stocks ended higher on Monday following a market sell-off in previous sessions as investors eyed a busy week for quarterly results from key companies that would provide a glimpse of the US economy's health.</p>


Wall Street stocks end higher with major corporate earnings in view

<p>The two helicopters which collided and crashed at the Royal Malaysian Navy (RMN) Base were undergoing a rehearsal for the third time in conjunction with RMN Fleet Open Day celebration scheduled on Saturday (April 27).</p>
