<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 3): Ho Wah Genting Bhd has called off its proposed placement of up to 63.39 million irredeemable convertible preference shares (ICPS) to selected investors.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Following this, the group has also decided to terminate the 15 separate subscription agreements signed with its substantial shareholder Ho Wah Genting Sdn Bhd (HWGH) and 14 other investors for the subscription of the ICPS at 49.7 sen per share.</p></div>

<div class=newsTextDataWrapInner><p>The group will not be asking its shareholders to vote for an amendment to its constitution for the ICPS issuance, Ho Wah Genting said in a filing today.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>However, the plan to issue 40.25 million new ordinary shares at a price of 49.7 sen per share, to settle RM20 million worth of debts owed to HWGH and Prime King Investment Ltd (PKIL), will still go on.</p></div>

<div class=newsTextDataWrapInner><p>On June 10, Ho Wah Genting announced it would be raising RM31.5 million in fresh capital through the ICPS issuance, which would be used for its healthcare-related business.</p></div>

<div class=newsTextDataWrapInner><p>The debt settlement is expected to be completed in the fourth quarter of this year.</p></div>

<div class=newsTextDataWrapInner><p>Ho Wah Genting shares closed 4.90% or five sen lower at 97 sen today, valuing the group at RM508.31 million. The counter saw 15.24 million shares done.</p></div>


Ho Wah Genting Bhd has called off its proposed placement of up to 63.39 million irredeemable convertible preference shares (ICPS) to selected investors. 

Following this, the group has also decided to terminate the 15 separate subscription agreements signed with its substantial shareholder Ho Wah Genting Sdn Bhd (HWGH) and 14 other investors for the subscription of the ICPS at 49.7 sen per share.

Ho Wah Genting calls off ICPS plan

Berjaya Asset Bhd (KL:BJASSET) on Saturday officially launched Times Square 2, a luxury serviced apartment development located next to Berjaya Times Square in Jalan Imbi, Kuala Lumpur.

Berjaya Asset officially launches Times Square 2

Singapore will resume flying its F-16 fleet after suspending training when one of the jets crashed earlier this month, the defence ministry on Saturday.

Singapore to resume flying F-16 jets after crash this month

If the past three years have taught us anything, it is that low inflation cannot be taken for granted.

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Two men were arrested on Friday for attempting to trespass into Istana Negara.

In a statement on Friday, Kuala Lumpur police chief Commissioner Datuk Rusdi Mohd Isa said a police officer had stopped a Perodua Kembara vehicle that had attempted to enter Gate 3 of Istana Negara with the passengers intending to meet the King.

Two men arrested for attempting to trespass into Istana Negara

The suspect killed in the attack at the Ulu Tiram police station, here on Friday, was believed to have acted alone, said Home Minister Datuk Seri Saifuddin Nasution Ismail.

Suspect in Ulu Tiram police station attack acted alone, says Saifuddin Nasution

Crypto lender Genesis Global received court approval on Friday to return about US$3 billion (RM14.06 billion) in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital Currency Group, with no recovery from the bankruptcy.

Crypto lender Genesis to return US$3b to customers in bankruptcy wind-down

Seven individuals, including a Singaporean, were remanded for seven days from Saturday until May 24, to assist in the investigation into the attack on the Ulu Tiram police station, early on Friday morning.

Ulu Tiram police station attack: Singaporean among seven remanded

If an exciting race, a packed crowd with A-list bristle, and a surprise winner was the happening event Formula One needed in America, then the Miami Grand Prix delivered in spades. But that’s not all a scorching afternoon in the Florida sunshine achieved; it also added fuel to the “end of empire” feeling about Red Bull’s domination of the sport.

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Home Minister Datuk Seri Saifuddin Nasution Ismail has given his assurance that the Jemaah Islamiyah (JI) movement in the country is still under control.

Saifuddin Nasution: Jemaah Islamiyah movement in Malaysia still under control

Genting Singapore has confirmed its interest in developing an integrated resort (IR) development in the United Arab Emirates (UAE), as per its executive chairman Tan Sri Lim Kok Thay’s comments to shareholder queries at the gaming group’s annual general meeting (AGM) last Friday.

Genting Singapore keen on UAE casino resort development

<p>The slide in Kuala Lumpur International Airport (KLIA)’s position on the list of the World's Top 100 Airports over the last decade is just a symptom of bigger problems in the management and structure of the airport industry in Malaysia.</p>


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<p>Genting Singapore has confirmed its interest in developing an integrated resort (IR) development in the United Arab Emirates (UAE), as per its executive chairman Tan Sri Lim Kok Thay’s comments to shareholder queries at the gaming group’s annual general meeting (AGM) last Friday.</p>


<p>A rebound that has taken the US stock market to record highs this week may have further to run, if history is any guide.</p>


Stock market's record-setting rebound may have further to go

<p>A US company has become the world’s most valuable solar manufacturer for the first time since 2018, as Chinese rivals suffer from a profit-slashing price war and an onslaught of trade barriers erected by Washington.</p>


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<p>The seven individuals who were arrested on Friday over an attack at the Ulu Tiram police station here will be brought to the Magistrate's Court here on Saturday to obtain a remand order.</p>


Ulu Tiram police station attack: Seven individuals to be taken to court for remand

<p>World stock indexes were nearly flat while US Treasury yields rose on Friday as investors tried to assess the timing of potential interest rate cuts by the Federal Reserve (Fed) this year.</p>


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<p>The suspect killed in the attack at the Ulu Tiram police station, here on Friday, was believed to have acted alone, said Home Minister Datuk Seri Saifuddin Nasution Ismail.</p>


<p>Seven individuals, including a Singaporean, were remanded for seven days from Saturday until May 24, to assist in the investigation into the attack on the Ulu Tiram police station, early on Friday morning.</p>


<p>As the local stock market edged higher, investors will be closely monitoring the financial performance of listed firms to justify the ongoing rally with the <b>FBM KLCI</b> reaching a multi-year high of 1,619.45 points last Friday in intra-day trade. The better-than-expected Malaysian economic growth of 4.2% in 1Q2024, which was released last Friday, is expected to help sustain the positive market sentiment.</p>


The Week Ahead: Corporate earnings, trade data and US Fed minutes in focus

<p>Two men were arrested on Friday for attempting to trespass into Istana Negara.</p>

<p>In a statement on Friday, Kuala Lumpur police chief Commissioner Datuk Rusdi Mohd Isa said a police officer had stopped a Perodua Kembara vehicle that had attempted to enter Gate 3 of Istana Negara with the passengers intending to meet the King.</p>


<p>Traders are keeping a close eye on flows into equities from the retail crowd as stocks hover near record highs and meme stocks popped and then fizzled this week.</p>


Goldman sees fear of underperforming as retail crowd returns

<p>The Dow Jones industrial average closed above the 40,000 mark for the first time on Friday, with other major indexes also scoring weekly gains, as data supported expectations for interest rate cuts by the Federal Reserve (Fed) this year.</p>


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<p>Home Minister Datuk Seri Saifuddin Nasution Ismail has given his assurance that the Jemaah Islamiyah (JI) movement in the country is still under control.</p>


<p>The US Justice Department and TikTok on Friday asked a US appeals court to set a fast-track schedule to consider the legal challenges to a new law requiring Chinese-based ByteDance to divest TikTok's US assets by Jan 19 or face a ban.</p>


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<p>Citigroup Inc was accused in a lawsuit of racial discrimination for its policy of waiving ATM fees for customers of minority-owned banks.</p>


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<p>Mercedes-Benz Group AG employees in Alabama voted against joining the United Auto Workers, a major blow to the union’s recently reinvigorated efforts to grow its ranks.</p>


Mercedes workers in Alabama reject union in pivotal vote

<p>Crypto lender Genesis Global received court approval on Friday to return about US$3 billion (RM14.06 billion) in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital Currency Group, with no recovery from the bankruptcy.</p>


<p>Spot silver surpassed US$30 an ounce to hit the highest level in more than a decade.</p>

<p>The precious metal closed 6.5% higher at US$31.49 an ounce Friday, the highest since February 2013. It has soared 32% this year, outpacing gold and making it one of the year’s best-performing major commodities.</p>


Spot silver tops US$30 an ounce to hit highest since 2013

<p>The US awarded contracts for the purchase of 3.3 million barrels of oil to help replenish the Strategic Petroleum Reserve (SPR) after a massive sale from the stockpile in 2022, the Department of Energy said on Friday.</p>


US to buy 3.3 million barrels of oil for Strategic Petroleum Reserve

<p>North Korean leader Kim Jong Un oversaw the test of tactical ballistic missiles with new guidance technology on Friday, state media <em>KCNA </em>said on Saturday.</p>
