<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 8): Berjaya Corporation Bhd (BCorp)’s wholly-owned subsidiary, Juara Sejati Sdn Bhd, had disposed of its entire 8.43% stake, comprising 13,716,900 ordinary shares of RM1.00 each in Magni-Tech Industries Bhd (Magni-Tech) for a cash consideration of about RM56.71 million or at an average price of RM4.13 per share.</p></div>

<div class=newsTextDataWrapInner><p>The disposal was done via direct business transactions during the period from Jan 13, 2016 to June, 7 2016. The average price of RM4.13 was at a discount of 24 sen from Magni-Tech’s closing price of RM4.37.</p></div>

<div class=newsTextDataWrapInner><p>According to an announcement on Bursa, the cash proceeds arising from the shares disposal will be utilized as working capital of the BCorp group. Based on the BCorp Group carrying value of RM56.00 million, the shares disposal resulted in a net gain of RM1.19 million, since the said carrying value has incorporated a re-measurement gain of RM29.23 million. The said gains were all recognized in the previous financial year ended April 30, 2016.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>As of closing today, BCorp edged up by 1.37% to 37 sen, with 10.46 million shares traded; while Magni-Tech’s share price fell by 0.68% to RM4.37, with only 69,600 shares exchanging hands.</p></div>


KUALA LUMPUR (June 8): Berjaya Corporation Bhd (BCorp)’s wholly-owned subsidiary, Juara Sejati Sdn Bhd, had disposed of its entire 8.43% stake, comprising 13,716,900 ordinary shares of RM1.00 each in Magni-Tech Industries Bhd (Magni-Tech) for a cash consideration of about RM56.71 million or at an...

Berjaya Corp disposes of entire 8.43% stake in Magni-Tech

Shares of CTOS Digital Bhd (KL:CTOS) rose to their highest in nearly two months as analysts flagged a pickup in earnings ahead following the seasonally weaker first-quarter results.

CTOS rises to near two-month high; analysts see stronger quarters ahead

The FBM KLCI was little changed in early trade on Wednesday although it held firm above the 1,600-point level.

KLCI little changed in early trade, hovers above 1,600 resistance level

United Overseas Bank (M) Bhd (UOB Malaysia) has launched a programme to assist businesses in understanding and preparing for the European Union's (EU) carbon border adjustment mechanism (CBAM), a carbon border tax that is set to take effect in 2026 and affect some 75% of Malaysian exports to the region.

UOB Malaysia introduces masterclass to prepare businesses for EU’s carbon border tax

The Department of Homeland Security (DHS) is piloting artificial intelligence (AI) to train officers who review applicants for refugee status in the US, Secretary Alejandro Mayorkas told reporters on Tuesday.

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The head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence (AI) technology said the country would divest from China if it were asked to do so by the US.

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Kim Ki Nam, one of the longest-serving North Korean officials who served all three generations of its leaders cementing their political legitimacy and heading the propaganda apparatus for the dynastic state, has died, official media said on Wednesday.

North Korean propaganda chief who served all three leaders dies

Brazil's bid to host the 2027 Women's World Cup scored higher than its rival, a joint bid from Belgium, Netherlands and Germany (BNG), in a Fifa's evaluation report released on Tuesday.

Brazil's bid to host the Women's World Cup tops European rival

Australia said on Wednesday it would raise the amount of savings international students will need to get a visa and warned several colleges of fraudulent student recruitment practices, as part of efforts to rein in record migration.

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Hong Leong Investment Bank Research is keeping its “buy” call on Kuala Lumpur Kepong, with an unchanged target price of RM24.41

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Global environmental, social, and governance (ESG) sukuk is expected to cross US$50 billion (RM237.32 billion) outstanding globally within the next two years, as issuers aim to meet their funding diversification goals and ESG mandates, alongside new regulatory frameworks and government-led sustainability initiatives, according to Fitch Ratings.

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


Sime Darby Plantation, Pekat, Siab, OCK, Sapura Energy, CTOS, Awantec, Mobilia, Prolintas, Power Root

<p>The takeover bid by Yinson Holdings Bhd’s major shareholder for Icon Offshore Bhd was made at 63.5 sen per share, as wellas 0.1 sen per warrant.</p>


Yinson's major shareholder raises Icon stake to 56.67% as MGO closes

<p>Power Root Bhd's subsidiaries have successfully recovered trademark of its own “Ah Huat” brand for coffee and tea beverages, after reaching an amicable out-of-court settlement with its Indonesian distributor CV Ego Sun Star Sukses Mandiri (CV Ego) following an infringement wrangle that started in 2013.</p>


Power Root reclaims ‘Ah Huat’ brand in Indonesia after decade-long trademark tussle 

<p>Urusharta Jamaah Sdn Bhd (UJSB) — a special purpose vehicle established under the Ministry of Finance to rehabilitate, restructure and monetise underperforming assets transferred to it from Lembaga Tabung Haji — has emerged as a substantial shareholder in Prolintas Infra Business Trust.</p>


Urusharta Jamaah emerges as third largest shareholder in Prolintas Infra

<p>GCH Retail (M) Sdn Bhd, the operator of Giant hypermarkets, said the courts are still deciding on the company’s tenancy dispute with its landlord over premises it is currently occupying in Batu Caves.</p>


GCH Retail says Giant Batu Caves tenancy dispute with landlord still being decided by courts

<p>Global sales of semiconductors jumped 15.2% year-on-year (y-o-y) to US$137.7 billion (RM653.24 billion) during the first quarter of 2024, according to the US-based Semiconductor Industry Association (SIA).</p>


First-quarter global semicon sales jump 15.2% y-o-y to US$137.7b, says SIA 

<p>Former National and Johor Darul Ta’zim (JDT) skipper Safiq Rahim became the third National footballer to be attacked within a week, although the JDT player’s attack seemed more of a warning than personal harm.</p>


Two suspects on motorcycles break Safiq Rahim's car windscreen in third attack on footballers 

<p>United Overseas Bank (M) Bhd (UOB Malaysia) has launched a programme to assist businesses in understanding and preparing for the European Union's (EU) carbon border adjustment mechanism (CBAM), a carbon border tax that is set to take effect in 2026 and affect some 75% of Malaysian exports to the region.</p>


<p>A key measure of world indebtedness has resumed its climb as global debt hit a record high of US$315 trillion (RM1.5 quadrillion) in the first quarter of the year, fuelled by borrowing in emerging markets, the US and Japan, a study showed.</p>


Key debt ratio resumes rise as global debt burden hits record US$315 tril, IIF says

<p>Apple Inc unveiled a new artificial intelligence-focused iPad Pro and a larger iPad Air, aiming to reinvigorate a tablet lineup that has languished over the past two years.</p>


Apple revamps iPads with AI-focused Pro model, bigger Air

<p>TikTok and its Chinese parent company ByteDance said on Tuesday they filed suit in US federal court seeking to block a law signed by President Joe Biden that would force the divestiture of the short video app used by 170 million Americans or ban its use.</p>


TikTok, ByteDance sue to block US law seeking sale or ban of app

<p>The S&amp;P 500 and Dow Jones Industrial Average both clung onto gains to ended slightly higher on Tuesday, extending recent winning streaks fueled by renewed expectations that the Federal Reserve (Fed) will cut interest rates this year.</p>


S&P, Dow end slightly up, extend closing streaks despite Disney drag

<p>Home furniture maker Mobilia Holdings Bhd is planning to issue up to 218.75 million free warrants (Warrants-B), on the basis of one Warrant-B for every four existing shares held by entitled shareholders.</p>


Home furniture maker Mobilia plans one-for-four free warrants

<p>As Malaysia aims to achieve high-income status, it needs to improve its human capital outcomes to match those of high-income countries.</p>


Aspiring to high-income status: Education matters

<p>The Malaysian Anti-Corruption Commission (MACC) is studying allegations against Housing and Local Government Minister Nga Kor Ming with regards to his announcement of an allocation for infrastructure in Kuala Kubu Bharu (KKB) recently.</p>


MACC looking into minister’s KKB allocation announcement ahead of poll

<p>The head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence (AI) technology said the country would divest from China if it were asked to do so by the US.</p>


<p>Wall Street pared earlier gains on Tuesday after equity markets elsewhere rallied as investors parsed when and by how much the Federal Reserve (Fed) cuts interest rates this year, while a resurgent dollar helped weaken the yen further.</p>


Wall Street loses steam, dollar gains as investors mull rate cut timing

<p>Australia said on Wednesday it would raise the amount of savings international students will need to get a visa and warned several colleges of fraudulent student recruitment practices, as part of efforts to rein in record migration.</p>


<p>The FBM KLCI was little changed in early trade on Wednesday although it held firm above the 1,600-point level.</p>


<p>Reddit Inc jumped more than 10% in extended trading after reporting quarterly sales that topped analysts’ estimates, impressing investors in its first results as a public company.</p>
