<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 26): DeGem Bhd's share price rose as much as 22 sen or 27% to RM1.05 so far today after the jeweller's major shareholder Legion Master Sdn Bhd offered to privatise DeGem at RM1.10 a share via a selective capital reduction and repayment (SCR) exercise.</p></div>

<div class=newsTextDataWrapInner><p>At 12:12pm, DeGem shares were traded at RM1.03 with 78,700 units transacted. The counter was among Bursa Malaysia's top gainers. DeGem's share trade resumed today following a suspension yesterday pending the SCR announcement.</p></div>

<div class=newsTextDataWrapInner><p>Yesterday, DeGem said the company received a letter from Legion Master requesting the jeweller to undertake the SCR exercise, which will enable Legion Master to privatise DeGem.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"The proposed SCR involves DeGem undertaking a selective capital reduction and a corresponding capital repayment of a proposed cash amount of RM1.10 per ordinary share in DeGem held by the entitled shareholders," DeGem said.</p></div>

<div class=newsTextDataWrapInner><p>According to the letter, Legion Master and persons acting in concert already owned 108.71 million DeGem shares representing an estimated 83.09% stake in the company as at Tuesday (Sept 24).</p></div>


KUALA LUMPUR (Sept 26): DeGem Bhd's share price rose as much as 22 sen or 27% to RM1.05 so far today after the jeweller's major shareholder Legion Master Sdn Bhd offered to privatise DeGem at RM1.10 a share via a selective capital reduction and repayment (SCR) exercise.

At 12:12pm, DeGe...

DeGem up among Bursa top gainers on privatisation offer

The yen was parked by a 34-year low on the dollar and decade lows on other crosses ahead of a Bank of Japan (BOJ) meeting where interest rates are expected to stay low, while the dollar dipped elsewhere on softer-than-expected US growth data.

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Copper hit US$10,000 (RM47,762) a tonne for the first time in two years as speculation builds that the world’s mines will struggle to meet a coming wave of demand from green industries.

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Pavilion Real Estate Investment Trust rose to its highest in more than a month after the release of its first-quarter results, while analysts expect the REIT, which mainly manages shopping malls, to benefit further from higher tourist arrivals.

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Malaysia’s producer price index (PPI), which measures price changes for goods at the producer level, increased by 1.6% year-on-year in March 2024, compared with 0.3% in February, said the Department of Statistics Malaysia.

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The yen fell amid volatile trade on Friday after the Bank of Japan (BOJ) maintained its accommodative monetary policy stance at the conclusion of its two-day policy meeting, while Asian shares rose in the broader market.

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Anyone called in by the Malaysian Anti-Corruption Commission (MACC), either as a witness or subject of investigation, is given ample opportunity to provide additional, detailed information as they please, and this includes imprisoned former prime minister Datuk Seri Najib Razak.

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Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.

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<p>The Inland Revenue Board (IRB) has extended the deadline for non-business taxpayers to submit their tax return form for the year of assessment 2023 via e-Filing from April 30 to May 15.</p>


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


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<p>Maxis Bhd could work with another consortium partner to lower the cost of deploying the second 5G network, even after the recapitalisation of Digital Nasional Bhd (DNB), said RHB Research in a note on Friday.</p>


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<p>Shares of ViTrox Corp Bhd are headed for its worst day in 18 months as first-quarter (1Q) results disappointed investors while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.</p>


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<p>Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.</p>


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<p>RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.</p>


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<p>Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected US economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.</p>


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<p>Analysts are positive that Capital A Bhd's proposed restructuring plan to streamline its aviation segments will help it exit the Practice Note 17 (PN17) status and enhance its competitive stance against established full-service carriers.</p>


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<p>Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.</p>


<p>RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.</p>


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<p>Uday Kotak built his Kotak Mahindra Bank Ltd over decades to become Asia’s richest banker. After India’s regulator slapped his firm with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth.</p>


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<p><em><strong>More to come</strong></em></p>
...

Govt to announce second 5G network next week, coverage now at 80.3%, says Fahmi

<p>The Tesla Inc shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion (RM267.54 billion) pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.</p>


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<p>The battle for consumer attention in China's electric car market is being fought over touches of "tech luxury" that car buyers in other markets have never seen.</p>

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<p>The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.</p>


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<p>European and American investors showed converse interest in sustainable funds during the first quarter, research firm Morningstar said on Thursday, with a record US$8.8 billion (RM42.03 billion) in net withdrawals from the products in the US.</p>


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<p>Former president Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter.</p>


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<p>Anyone called in by the Malaysian Anti-Corruption Commission (MACC), either as a witness or subject of investigation, is given ample opportunity to provide additional, detailed information as they please, and this includes imprisoned former prime minister Datuk Seri Najib Razak.</p>


<p>The corporate exercise to merge the AirAsia airline businesses under AirAsia X Bhd (AAX) is apparently sufficient to offset all of the RM8.7 billion negative equity in Capital A Bhd, according to chief executive officer Tan Sri Tony Fernandes.</p>
