<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 11): Hong Leong Financial Group Bhd (HLFG) confirmed today that it has disposed of 27 million shares, equivalent to a 10.94% stake, in Hong Leong Capital Bhd (HLCAP), in a bid to increase the latter's public shareholding spread.</p></div>

<div class=newsTextDataWrapInner><p>Following the disposal of the shares, HLFG's stake in HLCAP is reduced to 173.8 million shares or 70.396%.</p></div>

<div class=newsTextDataWrapInner><p>The shares were disposed of via a private placement, the group said in a filing with Bursa Malaysia today. The party or parties involved in the placement exercise were not revealed.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Yesterday, HLCAP told the bourse that the private placement had increased its public shareholding spread to 29.6%, thus meeting the 25% minimum requirement under the listing rules.</p></div>

<div class=newsTextDataWrapInner><p>With this, HLCAP shares are set to resume trading on Friday, after being suspended for over five years.</p></div>

<div class=newsTextDataWrapInner><p>HLCAP was suspended on March 26, 2015 due to its public shareholding spread falling below 25%. As at end-2014, its public shareholding spread was 18.67%.</p></div>

<div class=newsTextDataWrapInner><p>HLCAP was last traded at RM9.38, giving a market capitalisation of RM2.26 billion.</p></div>


Hong Leong Financial Group Bhd confirmed today that it has disposed of 27 million shares, equivalent to a 10.94% stake, in Hong Leong Capital Bhd, in a bid to increase the latter's public shareholding spread.

HLFG confirms disposal of stake in Hong Leong Capital to address public shareholding spread shortfall

Paragon Globe Bhd (KL:PGLOBE) is selling part of a parcel of freehold land it had just acquired in the district of Plentong, Johor Bahru, for RM238.32 million to improve its liquidity and financial position.

Paragon Globe to sell part of JB land it just bought for RM238 mil

In today’s edition of Evening 5: 00:00 Top 100 stocks add RM175 bil to market cap 01:54 Axiata, Sinar Mas seeking permission for merger from Indonesian govt 03:09 Record earnings push MNRB to record highs 04:26 Finance costs weigh on Sentral REIT 06:03 Go Hub Capital gets nod for ACE Market listing

EVENING 5: Malaysia’s top 100 stocks add RM175 bil to market cap

EVENING 5: Five things you need to know today

Communication Minister Fahmi Fadzil has stressed that the police investigation into the news report about the proposed casino development in Forest City, Johor, was not initiated by the government but resulted from a police report lodged by a law firm representing a company mentioned in the article.

Govt had nothing to do with police probe into Forest City casino issue — Fahmi

The Home Ministry (KDN) has inked 14 contracts with local companies valued at RM2.156 billion in conjunction with the Defence Services Asia (DSA) Exhibition & Conference 2024 and National Security (NATSEC) Asia 2024.

Home Minister Datuk Seri Saifuddin Nasution Ismail said the signing of the contracts is symbolic of the ministry’s continuous efforts for agencies under its purview.

Home Ministry signs 14 contracts with local companies worth over RM2 bil

SINGAPORE (May 8): Local telco operators StarHub and M1 are said to be back to exploring a potential merger of their businesses, according to TMT Finance, citing five sources familiar with the matter.

StarHub, M1 potential merger said to be back on — TMT Finance

The Transport Ministry (MOT) does not reject any strategic partnerships with private parties to provide services for its agencies, but such partnerships needed to be done properly and required official approval.

Its minister, Anthony Loke said the ministry did not want any company to launch or announce any services for government departments suddenly without the knowledge of the ministry itself.

Loke tells BJAK to submit official application for strategic partnership with MOT, JPJ

Intel Corp expects second-quarter revenue to fall below the midpoint of previously issued projections because of a new US ban on chip exports to Huawei Technologies Co.

Intel sees revenue falling below midpoint on US Huawei ban

The Construction Industry Development Board Malaysia (CIDB) has identified several potential collaboration areas in Australia's mining and energy sectors including Technical and Vocational Education and Training (TVET) programmes and labour supply.

CIDB receives significant interest from Australian construction landscape

PUTRAJAYA (May 8): The appointment of the chairman of the Public Service Commission (SPA) will be made after the Conference of Rulers meeting.

Appointment of Public Service Commission chairman to be decided after Conference of Rulers’ meeting — Mohd Zuki

<p>Former prime minister Tan Sri Muhyiddin Yassin has been granted a temporary release of his passport to visit a sick family member in Australia.</p>

<p>Sessions Court judge Azura Alwi allowed the Bersatu chief's application and ordered the travel document to be released on Wednesday and for it to be returned to the court on May 28.</p>


Muhyiddin gets temporary release of passport to visit sick family member abroad

<p>Shares in low-cost aviation operators Capital A Bhd (KL:CAPITALA) and AirAsia X Bhd (KL:AAX) rose in early trade on Wednesday, tracking gains at the broader market.</p>


Capital A and AAX active, advance in post-merger trade

<p>Shares in Sime Darby Plantation Bhd [KL: SIMEPLT] rose to their highest in two years following its announcement to develop the Tali Ayer estate in Perak into a green industrial park.</p>


Sime Darby Plantation shares surge to two-year high following proposed solar project in Perak

<p>Shell said on Wednesday it has agreed to sell its refinery and petrochemical assets in Singapore, Asia's main oil hub, to a joint venture between Indonesian chemicals firm Chandra Asri and Swiss miner and commodities trader Glencore.</p>


Shell to sell Singapore refinery, petchem assets to Chandra Asri and Glencore

<p>Interim liquidators appointed by the Shah Alam High Court pursuant to a petition by Hitachi Ltd to look into the affairs of its wholly-owned Fusiotech Holdings Sdn Bhd are investigating claims of potential diversion of business by Fusionex Malaysia to third parties.</p>


Fusionex liquidators probing alleged diversion of business to third parties

<p>Homegrown information and communications technology (ICT) distributor Vstecs Bhd’s (KL: VSTECS) wholly-owned subsidiary, Vstecs Ku Sdn Bhd, has been picked as Amazon Web Services' (AWS) first distributor in Malaysia.</p>


Amazon Web Services picks Vstecs as first distributor in Malaysia

<p>KUALA LUMPUR (May 8): Petronas Dagangan Bhd (KL:PETDAG) faces a threat from Saudi Aramco’s possible entry into Malaysia’s fuel retailing market, on top of the impending withdrawal of fuel subsidies, CGS International warned.</p>


Petronas Dagangan faces twin share de-rating threats — CGS

<p>KUALA LUMPUR (May 8): Insurer and reinsurer MNRB Holdings Bhd’s (KL:MNRB) net profit more than doubled year-on-year (y-o-y) in the fourth quarter, thanks to lower insurance expenses and higher investment income, sending its shares surging to an all-time high.</p>


MNRB logs record profits from lower insurance expenses, higher investment income

<p>Malaysia’s largest 100 companies added RM175.33 billion to their market value since the start of the year as optimism for a US Federal Reserve rate cut fuelled a broad rally in sectors ranging from technology to utilities.</p>


RM175 bil poured into Malaysia's top 100 stocks since start of 2024, more seen coming

<p>China has extended the visa-free policy for short-term visits to China for Malaysia and 11 other countries until the end of 2025, <em>Xinhua </em>reported, citing Chinese Foreign Ministry spokesperson Lin Jian.</p>


China extends visa-free travel policy for Malaysia until end of 2025

<p>Offshore drilling firm Velesto Energy Bhd (KL:VELESTO) is expected to report that its net profit may more than tripled in the first quarter (1Q) from a year earlier with all of its rigs utilised, Maybank Investment Bank said.</p>


Velesto may report strong 1Q results with rigs fully occupied — Maybank IB

<p>The US has revoked licences that allowed companies including Intel and Qualcomm to ship chips used for laptops and handsets to sanctioned Chinese telecoms equipment maker Huawei Technologies, three people familiar with the matter said.</p>


US revokes Intel, Qualcomm's export licences to sell to China's Huawei — Reuters

<p>Communications Minister Fahmi Fadzil said the government is prepared to engage with the US counterparts to understand the details regarding possible sanctions against Malaysian companies.</p>


Govt prepared to engage with US counterparts over possible sanctions — Fahmi

<p>Shares of Bursa Malaysia Bhd (KL:BURSA) extended gains to its highest since March 2021, following news that Malaysian stocks trading in its exchange hit a historical high of RM2 trillion in market capitalisation on Tuesday (May 7).</p>


Bursa Malaysia shares hit fresh three-year high as local equities breach RM2 trillion market cap

<p>SYDNEY/HONG KONG/SINGAPORE (May 8): Global private equity investors and asset managers are readying for billions of dollars worth of mergers and acquisitions (M&amp;As) and investments linked to data centres in the Asia Pacific, as the artificial intelligence (AI) boom fuels demand for digital infrastructure.</p>


AI boom set to fuel data centre deals in Asia this year

<p>Shares of CTOS Digital Bhd (KL:CTOS) tested their highest in nearly two months as analysts flagged a pickup in earnings ahead&nbsp;following the seasonally weaker first-quarter results.</p>


CTOS Digital shares back away two-month high 

<p>A Singapore Air Force F-16 jet crashed during takeoff at a military airbase, the Ministry of Defence said on Wednesday.</p>


Singapore Air Force F-16 fighter jet crashes after takeoff

<p>MNRB Holdings Bhd (KL:MNRB) was Bursa Malaysia’s biggest gainer on Wednesday, after the insurer and reinsurer announced record quarterly and annual net profit for the financial year ended March 31, 2024 (FY2024).</p>


MNRB makes biggest single-day jump after record FY2024 earnings

<p>The former director and chairman of the board of SRC International Sdn Bhd has slammed Datuk Seri Najib Razak for passing the blame to the board for the misappropriation of RM3.6 billion from the company, saying the accusation was nothing more than an afterthought and without basis.</p>


Former SRC director slams Najib for blaming SRC board for misappropriation of RM3.6b, says his accusation a baseless afterthought

<p>KUALA LUMPUR (May 8): Go Hub Capital Bhd (KL:GOHUB), a provider of information technology (IT) services catering to the transportation sector, said on Wednesday that it has received approval for its listing on the ACE Market of Bursa Malaysia.&nbsp;</p>
