<div class=newsTextDataWrapInner>SINGAPORE (April 26): The managers of Frasers Hospitality Trust (FHT) have declared a distribution per stapled security (DPS) of 1.1126 Singapore cents for the second quarter ended Mar 2018, down 7.8% from its DPS of 1.2063 Singapore cents a year ago on weaker overall portfolio performance, save for its Japan and Singapore properties.</div>

<div class=newsTextDataWrapInner>The latest quarter’s results brings FHT’s DPS for 2H18 to 2.4233 Singapore cents, which is 4.3% lower than its half-year DPS of 2.5321 Singapore cents previously.</div>

<div class=newsTextDataWrapInner>Gross revenue for 2Q18 came in at S$37.5 million, down 3.1% from S$38.7 million a year ago mainly as the Australia portfolio turned in weaker performance due to a more competitive trading environment in Sydney, as well as Novotel Sydney Darling Square’s renovation which was completed in end Jan 2018... <a href="https://www.theedgesingapore.com/frasers-hospitality-trusts-2q-dps-falls-78-11126-cents-weaker-portfolio-performance-overseas" target="_blank">(Click here to read the full story)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (April 26): The managers of Frasers Hospitality Trust (FHT) have declared a distribution per stapled security (DPS) of 1.1126 Singapore cents for the second quarter ended Mar 2018, down 7.8% from its DPS of 1.2063 Singapore cents a year ago on weaker overall portfolio performance, save ...

Frasers Hospitality Trust's 2Q DPS falls 7.8% to 1.1126 S'pore cents on weaker portfolio performance overseas

LONDON (April 25): Crystal Palace made absolutely sure of Premier League safety with an impressive 2-0 home defeat of Newcastle United on Wednesday with both goals scored by Jean-Philippe Mateta.

It was a well-deserved win for the hosts while Newcastle's European hopes were dealt a blow...

Mateta double fires Palace to win over Newcastle

CAIRO/JERUSALEM (April 25): Israeli warplanes pounded the northern Gaza strip for a second day on Wednesday in a fierce assault that has shattered weeks of comparative calm, and Israel said it was moving forward with plans for an all-out assault on Rafah in the south.

After an abrupt Is...

Israel says Rafah assault looms; massive Gaza airstrikes end weeks of relative calm

MANCHESTER (April 25): Manchester United captain Bruno Fernandes came to his side's rescue with two goals in a 4-2 home victory over the Premier League's bottom club Sheffield United on Wednesday just when more trouble loomed for beleaguered manager Erik ten Hag.

Twice United trailed ag...

Fernandes digs Man Utd out of hole in win over Sheff Utd

NEW YORK/LONDON (April 25): U.S. and European shares finished mixed on Wednesday ahead of more corporate earnings this week, and the yen was mired near 34-year lows, keeping traders wary of intervention from Japan.

An auction of a record $70 billion worth of five-year U.S. Treasury note...

Equities mixed as investors eye earnings; yen on intervention watch

LIVERPOOL, England (April 25): Everton's Jarrad Branthwaite and Dominic Calvert-Lewin scored in a pulsating 2-0 home victory over Liverpool in the Merseyside derby on Wednesday that could prove to be the death of the visitors' withering Premier League title hopes.

Everton's first derby ...

Everton deal Liverpool big blow with shock 2-0 derby victory

(April 25): Barcelona boss Xavi Hernandez on Wednesday reversed his decision to step down at the end of the season and agreed to stay in charge of the LaLiga giants for the 2024-25 campaign, a club spokesperson confirmed to Reuters.

Xavi spent most of the day in meetings with Barca offi...

Xavi to continue as Barcelona manager, LaLiga club confirms

The Civil Aviation Authority of Malaysia (CAAM) has revoked the air operator's certificate (AOC) of cash-strapped low-cost carrier MYAirline Sdn Bhd, effective April 15, after it failed to find a new investor before the April 14 deadline.

MYAirline loses licence to operate as commercial airline as CAAM revokes AOC

Chin Hin Group Property Bhd on Wednesday announced that troubled developer YNH Property Bhd has appointed it to develop a 6.49-acre plot of land in Segambut, featuring a potential gross development value (GDV) of RM685.1 million.

YNH aborts sale of Segambut land, appoints Chin Hin Group Property to develop it instead

Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.

Eden's major shareholder proposes land transfer to settle RM45.65m debt owed to company

TikTok's chief executive said on Wednesday that the company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban the popular short video app used by 170 million Americans.

TikTok CEO expects to defeat US restrictions: 'We aren't going anywhere'

The Civil Aviation Authority of Malaysia (CAAM) has revoked the air operator's certificate (AOC) of cash-strapped low-cost carrier MYAirline Sdn Bhd, effective April 15, after it failed to find a new investor before the April 14 deadline.

Chin Hin Group Property Bhd on Wednesday announced that troubled developer YNH Property Bhd has appointed it to develop a 6.49-acre plot of land in Segambut, featuring a potential gross development value (GDV) of RM685.1 million.

OYO plans to add 100 self-operated hotels in Malaysia in 2024 and will be looking to secure annual to long-term management contracts on a revenue-sharing basis for these properties. This is part of OYO's programme aimed at fostering economic growth in communities via partnerships.&nbsp;

OYO plans to launch 100 self-operated hotels in Malaysia for 2024, with the first in Kota Damansara

The daughter of a Chinese nickel billionaire purchased a multimillion-dollar mansion in Singapore, adding to the list of wealthy people seizing buying opportunities during the market lull.

Xiang Yangyang, the daughter of Xiang Guangda, who owns Tsingshan Holding Group Co, the world’s largest nickel and stainless steelmaker, agreed to buy the 2,612 sq m (28,111 sq ft) house in the country’s Bin Tong Park enclave, according to a property record seen by Bloomberg News.

Chinese metal tycoon’s heir buys US$62m Singapore mansion

Mah Sing Group Bhd's land acquisition for its third development in Setapak,&nbsp;Kuala Lumpur, namely M Azura, has become unconditional. The developer has three months to pay the balance purchase price of about RM59 million. The land for M Azura was acquired on Dec 8, 2023 for a total cost of RM74.3 million.

Mah Sing's land acquisition for M Azura has become unconditional

KUALA LUMPUR (April 24): Construction outfit Fajarbaru Builder Group Bhd has bagged a RM252.26 million contract from WCT Holdings Bhd to undertake Phase 1 of a two-phase development of two blocks of serviced apartments in Johor Bahru.

Fajarbaru Builder bags RM252m construction job in Johor Bahru from WCT

KUALA LUMPUR (April 24):&nbsp;Petronas&nbsp;Chemicals Group Bhd&nbsp;is focused on advancing its growth initiatives and strengthening its operational performance, despite the expectation that 2024 will continue&nbsp;to be a challenging year.

Petronas Chemicals to focus on advancing growth initiatives, strengthening operational performance

KUALA LUMPUR (April 24): A meeting with 70 financial fund investors and corporate members at the recently concluded joint investors meeting in London&nbsp;has touched on the Madani government’s immediate action to stimulate strategic investment in important technologies, according to the Ministry of Finance (MOF).

MOF: Meeting with 70 fund investors highlights Madani govt’s action to spur strategic investments

KLCCP Stapled Group, controlled by national oil and gas company Petroliam Nasional Bhd, said on Wednesday that it is still actively pursuing and exploring opportunities.

KLCCP Stapled Group on active lookout to expand portfolio

Hibiscus Petroleum Bhd said it has completed the drilling of the Bunga Aster-1 exploration well and is expecting its first oil production to begin in May.

Hibiscus Petroleum completes drilling at Bunga Aster-1 well, first oil production set for next month

Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday.

KLCCP, Suria Capital, Capital A, Calsberg, Hibiscus Petroleum, Chin Hin, OCR, Fajarbaru, I-Bhd, Farm Price, United Plantations, AME REIT, Axis REIT, MyEG

Suria KLCC's established reputation as a premier shopping destination has set it apart from other malls in the same vicinity, which provided it an effective buffer against new competition, according to KLCCP Stapled Group chief executive officer Datuk Md Shah Mahmood.

Suria KLCC shrugs off competition from new malls, with occupancy rate hitting 98% at end-2023

KUALA LUMPUR (April 24): Suria Capital Holdings Bhd’s wholly owned Sabah Ports Sdn Bhd has roped in DP World, an Emirati multinational logistics company based in Dubai, to manage Sapangar Bay Container Port (SBCP), in a bid to cement the port’s position as a regional trade hub for the East Asean growth area spanning Brunei, Indonesia, Malaysia and the Philippines (BIMP-EAGA).

Suria Capital’s Sabah Ports ropes in Dubai’s DP World to manage Sapangar Bay Container Port

The potential imposition of plain packaging for cigarette and vape products, together with a ban on the display of such products in stores, will incur a "huge financial burden" on privately owned sundry shops, according to the Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM).

Potential ban on display of cigarettes, vape products will burden retailers, on top of proposed plain packaging — sundry goods merchants

Zeekr, a luxury electric vehicle (EV) brand under the Geely group, is mulling about entering Malaysia's automotive market with its newly developed right-hand drive (RHD) vehicles.

Zeekr mulling entry into Malaysian market 

United Plantations Bhd’s (UP) net profit grew 18.54% year-on-year to RM132.87 million for the first quarter ended March 31, 2024 (1QFY2024), mainly due to a sharp drop in finance cost, on the back of slightly higher revenue, thanks to higher crude palm oil (CPO) and palm kernel (PK) prices.

United Plantations kicks off FY2024 on positive note as 1Q profit rises 18.5%

The Ministry of Investment, Trade and Industry (Miti) will finalise a comprehensive strategic plan for the semiconductor industry to ensure Malaysia remains competitive in the sector.

Miti to finalise comprehensive strategic semiconductor plan by next month

Axis Real Estate Investment Trust (Axis REIT), which focuses on industrial assets, is disposing of its property in Nusajaya, Johor, for RM162 million cash to a data centre operator. It did not disclose the identity of the purchaser.

Axis REIT to dispose of Axis Steel Centre @ SiLC in Johor for RM162m cash

(April 24):&nbsp;Firms making up more than half of Asia’s stock market value are vulnerable to deforestation, species loss and other nature-related risks, according to a new report, as governments ramp up regulations and industries continue to deplete the planet’s resources.

Investors spot new nature-related risk in firms worth half of Asia’s market value

GXBank, Malaysia’s first digital bank, said it plans to establish a regional centre of excellence (COE) for shared services in Malaysia, serving Grab-led digital banks and financial and operational services in the region.