<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 15): Axiata Group Bhd's subsidiary SmartLuy PLC has merged with Cambodia cashless-payment platform Pi Pay PLC after the National Bank of Cambodia (NBC) and the Ministry of Commerce of Cambodia (MOC) approved the corporate exercise.</p></div>

<div class=newsTextDataWrapInner><p>Mobile telecommunication network provider Axiata Group said in a Bursa Malaysia filing today notification of the successful application for the merger was received from the NBC and the MOC yesterday when the legal existence of SmartLuy ceased with the continuance of SmartLuy and Pi Pay as one entity.</p></div>

<div class=newsTextDataWrapInner><p>"The cessation of SmartLuy will not have any material effect on the earnings or net assets of the Axiata Group for the financial year ending Dec 31, 2020.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"The cost of investment of SmartLuy is US$2 million (about RM8.53 million). None of the directors or major shareholders of Axiata or persons connected with them have any interest, direct or indirect, in the said cessation," Axiata Group said.</p></div>

<div class=newsTextDataWrapInner><p>Axiata Group said SmartLuy is a subsidiary held through Smart Axiata Co Ltd and Axiata (Cambodia) Holdings Ltd. Axiata Group claimed that Pi Pay is a leading cashless-payment platform in Cambodia.</p></div>

<div class=newsTextDataWrapInner><p>In Malaysia today, Axiata Group's share price rose one sen or 0.29% to RM3.43 at 3.07pm for a market capitalisation of RM31.45 billion. The stock saw 1.66 million units change hands.</p></div>


Axiata Group Bhd's subsidiary SmartLuy PLC has merged with Cambodia cashless-payment platform Pi Pay PLC after the National Bank of Cambodia and the Ministry of Commerce of Cambodia approved the corporate exercise.

Axiata subsidiary merges with Cambodia cashless-payment platform

Berkshire Hathaway Inc posted a record quarterly profit on Saturday, boosted by strength in its insurance operations, and appears to have sold a significant number of Apple shares as its cash stake swelled to US$189 billion (RM895.86 billion).

Berkshire has record profit, cash soars to US$189b as Apple stake sinks

Communications Minister Fahmi Fadzil on Saturday said the Cabinet has not discussed about a price hike for petrol and diesel yet.

Fahmi: Foreign media reports not true as Cabinet yet to discuss price hike for petrol and diesel

Hong Kong issued its first red rainstorm warning of the year on Saturday as downpours caused flooding in areas of the territory, shutting roads and disrupting public transportation.

Hong Kong issues 2024’s first red storm signal amid flooding

Indonesia will permanently relocate the entire population of an island in North Sulawesi province because a volcano is threatening their safety.

Indonesia’s Ruang becomes ghost island as volcano erupts

The flight instructor and trainee of the Cessna 172 (9M ADA) type training aircraft which crashed in an oil palm plantation in Besout 2 Tambahan plantation, Sungkai near here have been identified as Captain Shahrul Imran Surea, 26, and Ho Jia Lee, 20.

Survivors of Sungkai plane crash identified

The Civil Aviation Authority of Malaysia (CAAM) has confirmed that a Cessna 172N Skyhawk aircraft with the registration number 9M-ADA crashed near Felda Gunung Besout, Sungkai, Perak on Saturday.

CAAM confirms Cessna 172N Skyhawk aircraft crashed near Felda Gunung Besout

The Melaka state government is setting its sights on bolstering its local business landscape by encouraging more companies in the state to be listed on Bursa Malaysia.

Melaka aims to boost local businesses, eyes more listings on Bursa Malaysia

The government is currently studying the proposal from marine robotics company Ocean Infinity to resume the search for Malaysia Airlines Flight MH370, which went missing while en route to Beijing 10 years ago.

Loke: Govt studying Ocean Infinity's proposal to resume search for MH370

Construction work on the East Coast Rail Link (ECRL) project in Kelantan, Terengganu, Pahang and Selangor has reached an average of 65% as of April, said Transport Minister Anthony Loke.

Progress of ECRL project in four states reaches 65%, says Loke

A training aircraft crashed in the Besout 2 Tambahan plantation area in Sungkai on Saturday.

Light aircraft crashes in Sungkai, two passengers survive

<p>Berkshire Hathaway Inc posted a record quarterly profit on Saturday, boosted by strength in its insurance operations, and appears to have sold a significant number of Apple shares as its cash stake swelled to US$189 billion (RM895.86 billion).</p>


<p>The flight instructor and trainee of the Cessna 172 (9M ADA) type training aircraft which crashed in an oil palm plantation in Besout 2 Tambahan plantation, Sungkai near here have been identified as Captain Shahrul Imran Surea, 26, and Ho Jia Lee, 20.</p>


<p>The Melaka state government is setting its sights on bolstering its local business landscape by encouraging more companies in the state to be listed on Bursa Malaysia.</p>


<p>Communications Minister Fahmi Fadzil on Saturday said the Cabinet has not discussed about a price hike for petrol and diesel yet.</p>


<p>The Civil Aviation Authority of Malaysia (CAAM) has confirmed that a Cessna 172N Skyhawk aircraft with the registration number 9M-ADA crashed near Felda Gunung Besout, Sungkai, Perak on Saturday.</p>


<p>Construction work on the East Coast Rail Link (ECRL) project in Kelantan, Terengganu, Pahang and Selangor has reached an average of 65% as of April, said Transport Minister Anthony Loke.</p>


<p>A training aircraft crashed in the Besout 2 Tambahan plantation area in Sungkai on Saturday.</p>


<p>Hong Kong issued its first red rainstorm warning of the year on Saturday as downpours caused flooding in areas of the territory, shutting roads and disrupting public transportation.</p>


<p>The government is currently studying the proposal from marine robotics company Ocean Infinity to resume the search for Malaysia Airlines Flight MH370, which went missing while en route to Beijing 10 years ago.</p>


<p>The Philippines central bank will require financial institutions to submit a report within 24 hours of discovering risks linked to money laundering and terrorist financing, as the Southeast Asian nation steps up its fight against illicit transactions.</p>


Philippines' central bank tightens dirty money risk reporting rule

<p>Malaysia's latest position in the Press Freedom Index is still considered good compared to the previous government, said Communications Minister Fahmi Fadzil.</p>
