<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 19): Iskandar Waterfront City Bhd (IWCity) shares rose 3.79% in active trade this morning after Ekovest Bhd issued a takeover notice to buy a 62% stake in IWCity at RM1.50 per share, via a cash deal or a one-for-one share swap deal to take the latter private.</p></div>

<div class=newsTextDataWrapInner><p>At 9.15am, IWCity rose 5 sen to RM1.37 with 2.49 million shares done.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, Ekovest added 0.55% or 0.5 sen to 92 sen with 1.51 million shares done.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Ekovest said its board of directors, after having considered all aspects of the proposed offer, has decided to present the bid for consideration to its shareholders at an extraordinary general meeting (EGM) which is aimed to be convened in the middle of February next year, or earlier.</p></div>

<div class=newsTextDataWrapInner><p>The offer price of RM1.50 represents a discount of more than 50% to IWCity’s estimated revised net asset value of RM3.03, IWCity said. As at Dec 11, Ekovest does not hold any shares in IWCity.</p></div>

<div class=newsTextDataWrapInner><p>Ekovest also updated that it has inked a conditional share sale agreement (SSA) with Kumpulan Prasarana Rakyat Johor Sdn Bhd to acquire the latter’s 6.4% stake in IWCity for RM80.39 million or RM1.50 per share.</p></div>


KUALA LUMPUR (Dec 19): Iskandar Waterfront City Bhd (IWCity) shares rose 3.79% in active trade this morning after Ekovest Bhd issued a takeover notice to buy a 62% stake in IWCity at RM1.50 per share, via a cash deal or a one-for-one share swap deal to take the latter private.

At 9.15am...

IWCity active, up 3.79% on takeover notice from Ekovest 

Bursa Malaysia opened slightly lower on Thursday but moved up thereafter.

Bursa turns positive in early trade after opening lower

Research analysts covering IGB Real Estate Investment Trust (IGB REIT) remained sanguine on the stock’s prospects after it reported a 4.79% jump in its net property income (NPI) for the first quarter ended March 31, 2024 (1QFY2024) to RM124.24 million, from RM118.55 million a year earlier, thanks largely to higher rental income.

Analysts remain sanguine on IGB REIT’s prospects going forward

SINGAPORE/JAKARTA (April 18): Indonesia's economy was primed for monetary easing later this year, but an unwelcome plunge in its currency is complicating matters for Bank Indonesia and could force it to grudgingly raise rates as early as next week.

As Indonesian markets returned from a ...

Indonesia's plunging rupiah twists the policy plot

The ringgit extended Wednesday’s gains to open higher against the US dollar on Thursday as the greenback retreated from multi-month highs after a pullback in US Treasury yields, said an analyst.

Ringgit extends gains against US dollar at opening

Alphabet-owned Google is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.

Google lays off employees, shifts some roles abroad amid cost cuts

Oil prices rose in early trade on Thursday, slightly paring the previous session's losses after the US said it would reinstate oil sanctions Venezuela, while the European Union talked of fresh curbs on Iran.

Oil inches up after US reimposes Venezuela oil sanctions

Shares of PIE Industrial Bhd extended its rally to a new all-time high on Thursday, after Kenanga Investment Bank flagged that the electronic services firm has secured a new client that will take up the entirety of its largest facility.

PIE Industrial extends rally to new all-time high as Kenanga flags new client

Federal Reserve Bank of Cleveland president Loretta Mester said monetary policy is in a good place, adding that the central bank shouldn’t be in a hurry to cut interest rates.

Mester says US Fed can hold rates steady, not in a hurry to cut

United Airlines will receive compensation from planemaker Boeing for financial damages incurred in the first quarter due to the grounding of 737 MAX 9 aircraft, the carrier said on Wednesday.

United Airlines says Boeing to compensate for damages caused by MAX 9 grounding

Liquefied natural gas (LNG) remains the fuel of choice for lower-carbon shipping, despite the rise in orders for vessels equipped with dual-fuel methanol and ammonia engines, according to Oslo-based Rystad Energy.

LNG remains top choice for dual-fuelled vessels in shipping, says Rystad

<p>KUALA LUMPUR (April 17): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:</p>

<p><strong>IGB Real Estate Investment Trust </strong>(IGB REIT) reported a 4.79% jump in its net property income (NPI) for the first quarter ended March 31...

IGB REIT, Affin Bank, Keyfield International, HeiTech Padu, Reservoir Link, LBS Bina, Menang, Excel Force and MFM

<p>US Federal Reserve (Fed)&nbsp;chair Jerome Powell is making life tougher for his peers around the world, as the prospect of higher-for-longer US interest rates reduces room for easier policy elsewhere.</p>


Powell's higher-for-longer US rate warning means headaches for rest of the world

<p>The Unity Government Leadership Consultative Council meeting agreed that the government must act firmly and not compromise against extreme actions that can jeopardise the country’s stability.</p>

<p>Unity Government Secretariat chief Dr Asyraf Wajdi Dusuki said the matter was decided at Wednesday’s Unity Government Leadership Consultative Council meeting at Seri Perdana, Putrajaya.</p>


Unity Govt meeting: No compromise on extreme actions that can jeopardise country’s stability

<p>President Joe Biden called China “xenophobic” while highlighting the Asian nation’s economic woes, as he sought to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania.</p>


Biden calls China ‘xenophobic’, ramping up 2024 campaign rhetoric

<p>NEW YORK (April 18): US stocks closed lower on Wednesday as crude prices tumbled and investors weighed cautious US Federal Reserve commentary and ongoing geopolitical strife against mixed quarterly earnings.</p>

<p>Benchmark US Treasury yields and the dollar eased back from multi-month highs, ...

US stocks end down, crude slides amid Fed, geopolitical crosscurrents

<p>Shares of PIE Industrial Bhd extended its rally to a new all-time high on Thursday, after Kenanga Investment Bank flagged that the electronic services firm has secured a new client that will take up the entirety of its largest facility.</p>


<p>Sabah has lost an experienced and exceptional leader with the passing of Parti Bersatu Rakyat Sabah (PBRS) founder Tan Sri Joseph Kurup, says Chief Minister Datuk Seri Hajiji Noor.</p>

<p>Expressing sympathy and condolences to the late leader's family, Hajiji said he had worked alongside Joseph as an assistant minister in the Sabah Ministry of Industrial Development in 1994, earning a deep respect for the veteran Sabah leader.</p>


Sabah lost an exceptional leader with Joseph Kurup's passing — Hajiji

<p>The stock market saw its longest losing streak since January as a handful of big techs sold off — despite a slide in bond yields.</p>


S&P 500 suffers its longest slide since January

<p>The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Wednesday, owing to weakness in the soybean oil futures on the Chicago Board of Trade and lower crude oil prices.</p>

<p>Palm oil trader David Ng told Bernama that the weaker market sentiment, however, was limited by the expectation of a stronger demand in the coming weeks.</p>


CPO futures ends lower amid weaker soybean oil futures, oil prices

<p>Hong Leong Investment Bank (HLIB) research said Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cyber security solutions post-passage of the cyber security bill which was passed in Dewan Rakyat on April 3.</p>


HLIB: Cloudpoint well positioned to capitalise burgeoning demand for cyber security solutions

<p>Executives at Dutch computer chip equipment maker ASML on Wednesday said they expect demand from Chinese customers to remain strong, representing "in the ballpark" of 20% of the company's order backlog.</p>


ASML executives say they expect continuing strong sales in China

<p>Prime Minister Datuk Seri Anwar Ibrahim has expressed his condolences to Deputy Minister of Agriculture and Food Securities Datuk Arthur Joseph Kurup and his family on the demise of his father, Tan Sri Joseph Kurup on Wednesday.</p>


PM extends condolences to family of Joseph Kurup

<p>Alphabet-owned Google&nbsp;is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.</p>


<p>Federal Reserve Bank of Cleveland president Loretta Mester said monetary policy is in a good place, adding that the central bank shouldn’t be in a hurry to cut interest rates.</p>


<p>A woman brought a 68-year-old man in a wheelchair into a bank branch and tried to get him to sign for a loan, but he had been dead for hours, Brazilian police said on Wednesday.</p>

<p>Erika Vieira Nunes wheeled the cadaver into the bank in a Rio suburb on Tuesday and told the teller the man wanted a loan for 17,000 reais (US$3,250), security camera video showed.</p>


Woman wheels corpse into Brazil bank to sign for loan

<p>Gold prices firmed on Wednesday as geopolitical turmoil in the Middle East spurred safe-haven demand, but fading US rate cut hopes capped further upside.</p>

<p>Spot gold rose 0.4% to US$2,391.10 per ounce, as of 9.40am ET (1340 GMT). Prices hit an all-time high of US$2,431.29 on Friday.</p>


Gold drifts higher as Middle East turmoil lifts appeal

<p>Asian central banks’ need for assertive defense of their currencies is driving traders to turn less dovish on monetary policies in the region.</p>


Slower US Fed pivot weakens rate-cut bets across emerging Asia

<p>Asian countries probably don't want it and they certainly didn't cause it, but a 'beggar thy neighbour' wave of exchange rate depreciation may be about to hit the continent.</p>

<p>If not a full-blown currency war, then a series of skirmishes is looming as policymakers grapple with a resurgent US dollar, a fragmented G10 central bank policy path, and a staggering slump in the Japanese yen which appears to have Tokyo's tacit approval.</p>


Asia braces for unwanted, but unavoidable FX battle

<p>United Airlines will receive compensation from planemaker Boeing for financial damages incurred in the first quarter due to the grounding of 737 MAX 9 aircraft, the carrier said on Wednesday.</p>


<p>Federal jurors in New York heard sharply contrasting arguments on whether a trader manipulated the Mango Markets cryptocurrency exchange to steal US$110 million (RM527.1 million) or executed a perfectly legal strategy that was permissible under the rules of the platform. &nbsp;</p>
