<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 13): Cheetah Holdings Bhd has upped its stake in Lambo Group Bhd to 19.64% after acquiring 23 million shares in the latter from the open market between Jan 6 to Jan 11 for RM2.16 million.</p></div>

<div class=newsTextDataWrapInner><p>The clothes retailer’s stake in Lambo Group previously stood at 18.14% or 279.5 million shares prior to the acquisition, according to its announcement to Bursa Malaysia on Thursday.</p></div>

<div class=newsTextDataWrapInner><p>Following the latest acquisition, Cheetah Holdings now has 302.5 million shares in Lambo Group, in addition to 95.8 million warrants C.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>According to its filing, the RM2.16 million share purchase was funded by internally-generated funds.</p></div>

<div class=newsTextDataWrapInner><p>Cheetah Holdings added that the reason for the acquisition was to revitalise its e-commerce presence as it had previously signed a Heads of Agreement with Lambo Group in March 2021.</p></div>

<div class=newsTextDataWrapInner><p>Notably, Koo Kien Yoon, currently the executive director and a substantial shareholder of Lambo Group, is also a shareholder in Cheetah Holdings.</p></div>

<div class=newsTextDataWrapInner><p>He is the brother of Koo Kien Keat, a former national badminton player who was appointed to serve as an independent and non-executive director of Cheetah Holdings on Feb 18, 2021.</p></div>

<div class=newsTextDataWrapInner><p>At market close, Cheetah Holdings' shares were unchanged at 16 sen apiece, giving the clothes retailer a market capitalisation of RM61.46 million.</p></div>


Cheetah Holdings Bhd has upped its stake in Lambo Group Bhd to 19.64% after acquiring 23 million shares in the latter from the open market between Jan 6 to Jan 11 for RM2.16 million.

The clothes retailer’s stake in Lambo Group previously stood at 18.14% or 279.5 million shares prior to the acquisition, according to its announcement to Bursa Malaysia on Thursday.

Cheetah Holdings ups stake in Lambo Group to 19.64%

PUTRAJAYA (April 30): Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki confirmed on Tuesday that the agency has recorded the statement from Perlis Menteri Besar Mohd Shukri Ramli to facilitate its investigations into an alleged abuse of power.

...

Azam Baki confirms Perlis MB quizzed by MACC earlier today

Shares of LPI Capital Bhd on Tuesday (April 30) extended their gain after the general insurer posted better-than-expected results.

LPI Capital shares rise on above-view 1Q

THE interest generated by the initial public offering (IPO) of 99 Speed Mart Retail Holdings Bhd could be a gauge of investor reaction and sentiment to the recent boycott of a close competitor, and whether such action adds to the risks of running retail outlets.

Among the recently repor...

Minimal impact from new risks associated with retail business

TOKYO (April 30): US hedge fund Elliott Management Corp has bought a stake in Sumitomo Corp worth several tens of billions of yen, a person familiar with the situation said on Tuesday.

Activist investor Elliott buys stake in Japan's Sumitomo, source says

Oil edged down on Tuesday after Israel-Hamas ceasefire talks in Cairo helped quell market fears of an expanding conflict in the Middle East, while worries about the outlook for US interest rates dragged on the market.

Oil slips as investors eye Israel-Gaza truce talks, US Fed policy review

MKH Oil Palm (East Kalimantan) Bhd (MKHOP), fresh off its Main Market debut on Tuesday, said it has no replanting plans as almost all of its prime mature oil palm trees are over a decade-old.

Main Market debutante MKH Oil Palm says no replanting activities in coming years 

JAKARTA (April 30): Indonesia has revised a wide-ranging trade ministry regulation to remove import restrictions on a number of affected items, including many raw materials used by industries, Trade Minister Zulkifli Hasan said on Tuesday.

Indonesian minister says removes import restrictions on some industrial materials

The future of one of the world’s largest carbon offset projects is in doubt after the Indonesian government revoked its license for violating local regulations.

World’s largest forestry pffsets project has license revoked

Banking

MARKET WEIGHT

UOB KAY HIAN RESEARCH (APRIL 15): As the five digital banks prepare to commence operations in the coming months, we anticipate a f...

Brokers Digest: Local Equities: Solarvest Holdings Bhd, Press Metal Aluminium Holdings Bhd, Lee Swee Kiat Group Bhd

Adidas' strong first-quarter results were helped by growth across all regions, excluding North America, where inventory levels are still high, the German sportswear brand said on Tuesday.

Adidas first-quarter growth dimmed by North America sales dip

<p>The Genting group companies' operations have recovered from the impact of the Covid-19 pandemic, and its earnings are expected to further grow, albeit more gradually, according to S&amp;P Global Ratings.</p>


S&P: Genting's operations have recovered from impact of pandemic, earnings to further grow

<p>MKH Oil Palm (East Kalimantan) Bhd (MKHOP) opened at 63 sen in its Main Market debut on Tuesday, up 1.6% from its initial public offering (IPO) price of 62 sen.</p>


MKH Oil Palm rises 1.6% to 63 sen in Main Market debut 

<p>Shares in Oppstar Bhd rose to a five-month high on Tuesday after the integrated circuit (IC) design service provider announced it is partnering with South Korea’s tech giant Samsung Electronics Co Ltd to produce industrial ICs.</p>


Oppstar surges to five-month high after announcing Samsung tie-up

<p>The Malaysian Bar filed a judicial review application last Friday (April 26) to seek a declaration that the decision by the Federal Territories Pardons Board on Jan 29 to halve Datuk Seri Najib Razak's jail sentence from 12 years to six years and reduce the fine in his SRC International graft conviction from RM210 million to RM50 million is unconstitutional, void, and unlawful.</p>


Malaysian Bar challenges Pardons Board decision to reduce Najib’s sentence

<p>KUALA LUMPUR (April 30): Sime Darby Plantation Bhd, the world’s largest palm oil producer by acreage, said on Tuesday that it plans to change its name to SD Guthrie Bhd.</p>


Sime Darby Plantation plans to change name to SD Guthrie

<p>RHB Investment Bank Research has maintained its “overweight” rating on the rubber products sector and said it expects glove makers to record positive quarter-on-quarter (q-o-q) net profit growth in the upcoming March quarterly reporting season.</p>


RHB sees glove makers recording positive q-o-q net profit growth in March earnings

<p>KUALA LUMPUR (April 30): The average price for new apartments in Kuala Lumpur has surged to RM582,887, which is seen as surpassing the national average and setting a new benchmark in the industry, according to the real estate technology group Juwai IQI.</p>


Average KL price of new apartment hits RM582,887, surpasses national average — Juwai IQI

<p>Ekuiti Nasional Bhd, the state-owned private equity firm also known as Ekuinas, said on Tuesday it has acquired an 80% stake in pharmaceutical ingredients maker Symbiotica Speciality Ingredients Sdn Bhd.</p>


Ekuinas acquires 80% stake in pharma ingredients maker Symbiotica

<p>The Securities Commission Malaysia (SC) has updated its Investor Alert List.</p>


SC adds two potential clones to Investor Alert List

<p>Microsoft will invest US$1.7 billion (RM8.1 billion) over the next four years into expanding cloud services and artificial intelligence in Indonesia, including building data centres, visiting chief executive Satya Nadella said on Tuesday.</p>


Microsoft to invest US$1.7b in cloud, AI in Indonesia, CEO says

<p>China needs to further reduce its Treasuries holdings, in part to lessen the potential leverage of Washington over its Asian rival, according to a paper published by a Chinese state think tank.</p>


China’s US Treasury holdings becoming ‘hostages,’ academic warns

<p>It’s “better to ask for forgiveness than permission” when it comes to complying with the law, the billionaire founder of the Binance cryptocurrency exchange once told his team, according to the US government.</p>


Binance and CZ’s fortunes are set to grow, jail or no jail 

<p>HSBC said on Tuesday its chief executive Noel Quinn will retire — a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset sales across the globe.</p>


HSBC chief executive Quinn announces surprise retirement

<p>Hong Leong Investment Bank (HLIB) Research has valued ACE Market-bound Sin-Kung Logistics Bhd at 17 sen, based on 15x price earnings ratio on FY2024F of 1.1 sen.</p>


HLIB values ACE Market-bound Sin-Kung Logistics at 17 sen

<p>KUALA LUMPUR (April 30): Shares of Nestlé (Malaysia) Bhd (Nestlé Malaysia) rose to its highest in eight months after reporting results that came in slightly ahead of expectations, though analysts flagged sales pressure ahead for the food-and-drink company.</p>


Nestle Malaysia shares rise to eight-month high after 1Q results

<p>Elon Musk’s net worth is soaring after it plunged to the lowest level in almost a year.</p>


Musk’s fortune soars by most since before Twitter purchase

<p>Amy Wang was counting on a 100,000 yuan (RM65,743) subsidy promised by authorities in the eastern Chinese city of Weifang to fit and furnish an apartment she bought two years ago. Still waiting for the money, she is yet to move in.</p>


Strained Chinese cities struggle to pay home buying subsidies

<p>KUALA LUMPUR (April 30): Stock exchange operator Bursa Malaysia Bhd said on Tuesday that its net profit rose 34% in the first quarter of the year, from a year earlier, thanks to higher trading activity and fees from listings and other services.</p>


Bursa Malaysia’s 1Q net profit surges 34%, optimistic to hit 2024 targets

<p>Samsung Electronics Co’s earnings surged after the semiconductor business returned to profitabilty for the first time since 2022, boosted by broad spending on artificial intelligence development.</p>


Samsung’s profit surges after AI boom reverses chip losses 

<p>Asian central bankers should tailor their policies based on domestic fundamentals instead of being too fixated on the US Federal Reserve’s interest rate trajectory, said IMF Asia-Pacific director Krishna Srinivasan.</p>
