<div class=newsTextDataWrapInner><p>This article first appeared in <em>The Edge Financial Daily, </em>on June 8, 2016.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>KUALA LUMPUR: Berjaya Land Bhd (BLand) and its wholly-owned subsidiary Gateway Benefit Sdn Bhd have sold nine million shares, representing a 0.67% stake, in Berjaya Sports Toto Bhd (BToto) for RM25.75 million.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The shares were disposed of on May 24 and June 6, at an average price of RM2.86 per share, BLand said in a filing with Bursa Malaysia yesterday.</p></div>

<div class=newsTextDataWrapInner><p>It said the disposals resulted in a net loss of RM5.57 million as the shares, which had been purchased since 1992, had a total carrying value of RM31.32 million, or an average of RM3.48 per share.</p></div>

<div class=newsTextDataWrapInner><p>“The net cash proceeds from the disposals will be utilised as working capital and repayment of borrowings of the BLand group,” it added.</p></div>

<div class=newsTextDataWrapInner><p>Following the disposals, BLand and its unlisted subsidiaries hold a total of 539.88 million shares, representing a 40.05% equity interest, in BToto.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, BLand, together with its holding company Berjaya Corp Bhd and its unlisted subsidiaries, collectively hold a total of 655.4 million shares, or a 48.62% stake, in BToto.</p></div>

<div class=newsTextDataWrapInner><p>BToto remains a subsidiary of BLand, which in turn is a subsidiary of Berjaya Corp, said BLand.</p></div>


This article first appeared in The Edge Financial Daily, on June 8, 2016.

 

KUALA LUMPUR: Berjaya Land Bhd (BLand) and its wholly-owned subsidiary Gateway Benefit Sdn Bhd have sold nine million shares, representing a 0.67% stake, in Berjaya Sports Toto Bhd (BToto...

Berjaya Land disposes of Berjaya Toto shares at a loss

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European car giants Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue on Tuesday as they geared up to launch new models, faced higher costs and were hit by weaker demand for new cars as interest rates remain high.

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Citigroup CEO Jane Fraser told shareholders on Tuesday that US consumers are becoming more cautious with their spending and making smaller purchases.

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McDonald's missed quarterly profit estimates for the first time in two years as budget-conscious consumers looked past its offers and the Middle East conflict weighed on the burger chain's international sales.

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Treasury Secretary Janet Yellen on Tuesday defended a global corporate tax deal against Republicans' accusations that it would siphon away US revenues and said she was working to carve out an allowance for the US research and development tax credit.

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Starbucks Corp sales fell for the first time since 2020 as half-off deals and new lavender lattes weren’t enough to entice increasingly budget-conscious consumers.

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An early investor in bitcoins dubbed the "Bitcoin Jesus" has been arrested in Spain on US charges that he evaded paying at least US$48 million (RM228.9 million) in taxes, the US Department of Justice said on Tuesday.

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<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday (April 30):</p>


Bursa, SimePlant, SEGi, Capital A, Duopharma, Rimbunan Sawit, MKHOP, Tasco, CIMB, Atrium REIT, KSL, GUH, Lebtech, Mentiga, Ge-Shen, Green Packet, Apex Equity

<p>KUALA LUMPUR (May 1): Malaysia’s top six universities have soared in Times Higher Education’s (THE) 2024 Asia University Rankings, compared to last year’s performance.</p>


Malaysian universities rise in Times Higher Education’s 2024 Asia rankings

<p>The proposed sale of Cyberjaya Education Group Bhd's Asia Metropolitan University license and business to Austin Legacy Education Sdn Bhd for RM15 million cash has fallen through.</p>


Cyberjaya Education's RM15 mil sale of Asia Metropolitan University falls through

<p>Duopharma Biotech Bhd has accepted 11 letters of offers from a subsidiary of Pharmaniaga Bhd to supply 86 pharmaceutical and/or non-pharmaceutical products worth RM578.09 million in total, to government offices and facilities that Pharmaniaga operates.</p>


Duopharma secures RM578 mil supply contracts from Pharmaniaga

<p>PUTRAJAYA (April 30): Perlis Menteri Besar Mohd Shukri Ramli on Tuesday testified for almost nine hours at the Malaysian Anti-Corruption Commission (MACC) headquarters here.</p>

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<p>The Sessions Court here on Tuesday was told that the contract for the ‘Central Spine Road: Sertik to East Coast Highway Intersection’ project worth RM232 million was awarded to Nepturis Sdn Bhd.</p>


Central Spine Road project worth RM232 mil awarded to Nepturis, says witness

<p>McDonald's missed quarterly profit estimates for the first time in two years as budget-conscious consumers looked past its offers and the Middle East conflict weighed on the burger chain's international sales.</p>


<p>Starbucks Corp sales fell for the first time since 2020 as half-off deals and new lavender lattes weren’t enough to entice increasingly budget-conscious consumers.</p>


<p>Communications Minister Fahmi Fadzil has slammed Bersatu supreme council member Dr Afif Bahardin for making sexist remarks against Pakatan Harapan’s (PH) Kuala Kubu Baharu (KKB) by-election candidate Pang Sock Tao.</p>


KKB by-election: Fahmi tells Afif not to be a sexist

<p>Apex Equity Holdings Bhd's external auditor is unconvinced that the group will be able to recover RM23.8 million in loan receivable, though its directors is confident that the sum is recoverable and had made no impairment loss in its financial statements for the year ended Dec 31, 2023.</p>


Apex Equity's auditor unconvinced group can recover RM24m loan

<p>A pair of traders in Hong Kong have left Societe Generale SA (SocGen) after the French bank discovered a batch of risky bets that went undetected by the firm’s risk-management systems, according to people familiar with the matter.</p>


SocGen traders in Asia exit after options bets go undetected

<p>Logistics solutions provider Tasco Bhd saw its net profit for the financial quarter ended March 31, 2024 (4QFY2024) fell 18% year-on-year, attributable to lower profit reported in its air freight forwarding and ocean freight forwarding divisions, as freight rates fell to pre-pandemic levels.</p>


Tasco’s 4Q profit fell 18% amid lower freight rates; declares 2.35 sen dividend

<p>Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating US laws against money laundering at the world's largest cryptocurrency exchange.</p>


Binance crypto founder Zhao sentenced to four months in prison

<p>It was my privilege to have had the opportunity to participate in the Sejahtera Malaysia Forum on April 29, at Le Quadri Hotel, Kuala Lumpur, where the Minister of National Unity Malaysia, Datuk Aaron Ago Dagang, delivered the keynote address alongside distinguished panel speakers such as Dr Kelvin Yii Lee Wuen, MP of Kuching, Faye Lim, founder of The Rojak Projek, and Tan Sri Michael Yeoh, president of the KSI Strategic Institute for the Asia-Pacific. I was struck by the profound depth of our discourse.</p>


Appreciation of history: A pathway to national unity

<p>Malaysia received 5.8 million foreign tourists from January to March this year, which was a growth of 32.5% compared with 4.3 million for the same period last year.</p>

<p>Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing said the top ten tourist-generating markets for Malaysia were Singapore, Indonesia, China, Thailand, Brunei, India, South Korea, Australia, the United Kingdom and the Philippines.</p>


Malaysia received 5.8 mil tourists from January to March this year — Tiong

<p>Fraser &amp; Neave Holdings Bhd (F&amp;N) posted a net profit of RM165.41 million in the second quarter ended March 31, 2024 (2QFY2024), higher by 63.48% compared to RM101.18 million a year before, driven by higher sales amid Chinese New Year and Hari Raya festival seasons and better margins.</p>


Festive sales and better margins lift F&N’s 2Q net profit by 63%

<p>The federal government is always committed to empowering national schools, but parents retain the right to choose the educational stream for their children, said PKR vice-president Nik Nazmi Nik Ahmad.</p>


Parents' right to pick children's educational stream — Nik Nazmi

<p>US stocks ended lower on Tuesday as markets weighed economic data showing rising labour costs and deteriorating consumer confidence on the day of a key Federal Reserve policy meeting to decide the direction of interest rates.</p>


Wall Street stocks fall as markets weigh strong wage data, Fed meeting 

<p>An early investor in bitcoins dubbed the "Bitcoin Jesus" has been arrested in Spain on US charges that he evaded paying at least US$48 million (RM228.9 million) in taxes, the US Department of Justice said on Tuesday.</p>


<p>There have been no discussions between the Terengganu state government and the federal government regarding the proposal to implement public caning for shariah offences in the state.</p>
