<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 9): ES Ceramics Technology Bhd, whose share price has soared 500% year-to-date, announced today that its non-independent non-executive director Datuk Kamal YP Tan has ceased to be a substantial shareholder after disposing of his remaining 47.18 million shares, or a 10.463% stake, in the company.</p></div>

<div class=newsTextDataWrapInner><p>The hand mold supplier for glove companies said in a filing that the shares were sold at 57.5 sen per share on Nov 5, pricing the block of shares at RM27.13 million.</p></div>

<div class=newsTextDataWrapInner><p>Tan was the largest shareholder of the company before he disposed of his shares on Nov 4, when 48.25 million shares, or a 10.7% stake, in the company were sold at 58.6 sen per share, valuing them at RM28.28 million.<br />
&nbsp;<br />
Tan, 68, has been on the board since 2009.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Besides that, he is currently also the acting group chief executive officer and adviser of Envictus International Holdings Ltd, a company listed on the Singapore Exchange.</p></div>

<div class=newsTextDataWrapInner><p>ES Ceramics' net profit for the first quarter ended Aug 31, 2020 trippled to RM3.2 million, from RM1 million a year ago, while revenue rose 36.41% to RM11.94 million versus RM8.75 million.</p></div>

<div class=newsTextDataWrapInner><p>The company's share price closed unchanged at 60 sen, after 30.39 million shares changed hands.</p></div>


ES Ceramics Technology Bhd, whose share price has soared 500% year-to-date, announced today that its non-independent non-executive director Datuk Kamal YP Tan has ceased to be a substantial shareholder after disposing of his remaining 47.18 million shares, or a 10.463% stake, in the company.

Kamal Tan disposes of remaining shares in ES Ceramics

The Malaysian Bar filed a judicial review application last Friday (April 26) to seek a declaration that the decision by the Federal Territories Pardons Board on Jan 29 to halve Datuk Seri Najib Razak's jail sentence from 12 years to six years and reduce the fine in his SRC International graft conviction from RM210 million to RM50 million is unconstitutional, void, and unlawful.

Malaysian Bar challenges Pardons Board decision to reduce Najib’s sentence

Ekuiti Nasional Bhd, the state-owned private equity firm also known as Ekuinas, said on Tuesday it has acquired an 80% stake in pharmaceutical ingredients maker Symbiotica Speciality Ingredients Sdn Bhd.

Ekuinas acquires 80% stake in pharma ingredients maker Symbiotica

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KUALA LUMPUR (April 30): Stock exchange operator Bursa Malaysia Bhd said on Tuesday that its net profit rose 34% in the first quarter of the year, from a year earlier, thanks to higher trading activity and fees from listings and other services.

Bursa Malaysia’s 1Q net profit surges 34%, optimistic to hit 2024 targets

KUALA LUMPUR (April 30): Sime Darby Plantation Bhd, the world’s largest palm oil producer by acreage, said on Tuesday that it plans to change its name to SD Guthrie Bhd.

Sime Darby Plantation plans to change name to SD Guthrie

Microsoft will invest US$1.7 billion (RM8.1 billion) in Indonesia to empower the Southeast Asian country with cloud services and artificial intelligence, including by building data centres, visiting chief executive Satya Nadella said on Tuesday.

Microsoft to invest US$1.7b in cloud, AI in Indonesia, CEO says

KUALA LUMPUR (April 30): The average price for new apartments in Kuala Lumpur has surged to RM582,887, which is seen as surpassing the national average and setting a new benchmark in the industry, according to the real estate technology group Juwai IQI.

Average KL price of new apartment hits RM582,887, surpasses national average — Juwai IQI

China's manufacturing and services activity both expanded at a slower pace in April, official surveys showed on Tuesday, suggesting some loss of momentum for the world's second-biggest economy at the start of the second quarter.

China's slow April factory, services activity dents economic momentum

Relatively lower inflation in Asia means the region's central banks can focus more on domestic conditions and less on what the US Federal Reserve might do when setting monetary policy, the International Monetary Fund said on Tuesday.

Asian central banks in good position to move independently of Fed, says IMF

HSBC chief executive Noel Quinn will retire, it said on Tuesday, in a surprise departure from the bank that he has overhauled in the past five years through a sweeping series of asset sales across the globe.

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<p>KUALA LUMPUR (April 30): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday (April 29):</p>

<p>QSR Brands and KFC Malaysia confirmed it suspended operations of its outlets to manage costs, amid news that over 100 of its outlets have ceased...

QSR Brands, Nestle, ViTrox, LPI Capital, Ajiya, YTL REIT, Tex Cycle, Gadang, HHRG, Sapura, MSC, Capital A, BSL, Oppstar

<p>The Genting group companies' operations have recovered from the impact of the Covid-19 pandemic, and its earnings are expected to further grow, albeit more gradually, according to S&amp;P Global Ratings.</p>


S&P: Genting's operations have recovered from impact of pandemic, earnings to further grow

<p>MKH Oil Palm (East Kalimantan) Bhd (MKHOP) opened at 63 sen in its Main Market debut on Tuesday, up 1.6% from its initial public offering (IPO) price of 62 sen.</p>


MKH Oil Palm rises 1.6% to 63 sen in Main Market debut 

<p>Shares in Oppstar Bhd rose to a five-month high on Tuesday after the integrated circuit (IC) design service provider announced it is partnering with South Korea’s tech giant Samsung Electronics Co Ltd to produce industrial ICs.</p>


Oppstar surges to five-month high after announcing Samsung tie-up

<p>RHB Investment Bank Research has maintained its “overweight” rating on the rubber products sector and said it expects glove makers to record positive quarter-on-quarter (q-o-q) net profit growth in the upcoming March quarterly reporting season.</p>


RHB sees glove makers recording positive q-o-q net profit growth in March earnings

<p>The Malaysian Bar filed a judicial review application last Friday (April 26) to seek a declaration that the decision by the Federal Territories Pardons Board on Jan 29 to halve Datuk Seri Najib Razak's jail sentence from 12 years to six years and reduce the fine in his SRC International graft conviction from RM210 million to RM50 million is unconstitutional, void, and unlawful.</p>


<p>China needs to further reduce its Treasuries holdings, in part to lessen the potential leverage of Washington over its Asian rival, according to a paper published by a Chinese state think tank.</p>


China’s US Treasury holdings becoming ‘hostages,’ academic warns

<p>It’s “better to ask for forgiveness than permission” when it comes to complying with the law, the billionaire founder of the Binance cryptocurrency exchange once told his team, according to the US government.</p>


Binance and CZ’s fortunes are set to grow, jail or no jail 

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


SC adds two potential clones to Investor Alert List

<p>Hong Leong Investment Bank (HLIB) Research has valued ACE Market-bound Sin-Kung Logistics Bhd at 17 sen, based on 15x price earnings ratio on FY2024F of 1.1 sen.</p>


HLIB values ACE Market-bound Sin-Kung Logistics at 17 sen

<p>Elon Musk’s net worth is soaring after it plunged to the lowest level in almost a year.</p>


Musk’s fortune soars by most since before Twitter purchase

<p>KUALA LUMPUR (April 30): Shares of Nestlé (Malaysia) Bhd (Nestlé Malaysia) rose to its highest in eight months after reporting results that came in slightly ahead of expectations, though analysts flagged sales pressure ahead for the food-and-drink company.</p>


Nestle Malaysia shares rise to eight-month high after 1Q results

<p>KUALA LUMPUR (April 30): Sime Darby Plantation Bhd, the world’s largest palm oil producer by acreage, said on Tuesday that it plans to change its name to SD Guthrie Bhd.</p>


<p>Amy Wang was counting on a 100,000 yuan (RM65,743) subsidy promised by authorities in the eastern Chinese city of Weifang to fit and furnish an apartment she bought two years ago. Still waiting for the money, she is yet to move in.</p>


Strained Chinese cities struggle to pay home buying subsidies

<p>KUALA LUMPUR (April 30): The average price for new apartments in Kuala Lumpur has surged to RM582,887, which is seen as surpassing the national average and setting a new benchmark in the industry, according to the real estate technology group Juwai IQI.</p>


<p>Samsung Electronics Co’s earnings surged after the semiconductor business returned to profitabilty for the first time since 2022, boosted by broad spending on artificial intelligence development.</p>


Samsung’s profit surges after AI boom reverses chip losses 

<p>Ekuiti Nasional Bhd, the state-owned private equity firm also known as Ekuinas, said on Tuesday it has acquired an 80% stake in pharmaceutical ingredients maker Symbiotica Speciality Ingredients Sdn Bhd.</p>


<p>Microsoft will invest US$1.7 billion (RM8.1 billion) in Indonesia to empower the Southeast Asian country with cloud services and artificial intelligence, including by building data centres, visiting chief executive Satya Nadella said on Tuesday.</p>


<p>HSBC chief executive Noel Quinn will retire, it said on Tuesday, in a surprise departure from the bank that he has overhauled in the past five years through a sweeping series of asset sales across the globe.</p>


<p>Relatively lower inflation in Asia means the region's central banks can focus more on domestic conditions and less on what the US Federal Reserve might do when setting monetary policy, the International Monetary Fund said on Tuesday.</p>
