<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 24): Karambunai Corp Bhd shares surged 29% this morning after its largest shareholder Tan Sri Dr Chen Lip Keong, who holds a 73.41% stake in the company, offered to take Karambunai private in a deal worth an estimated RM184.67 million.</p></div>

<div class=newsTextDataWrapInner><p>At 9.21am, Karambunai rose 2.5 sen to 11 sen, valuing it at RM635.43 million.</p></div>

<div class=newsTextDataWrapInner><p>Karambunai has received an unconditional voluntary takeover offer from UOB Kay Hian Securities (M) Sdn Bhd on behalf of Chen to acquire the remaining 1.54 billion shares or 26.59% interest in the company not already held by him, at a cash price of 11 sen per share. He is also offering 3 sen apiece for the remaining 523.5 million warrants, representing 51.57% of the outstanding warrants he does not hold.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The gaming tycoon, better known as founder of Hong Kong-listed NagaCorp Ltd, also has another indirect stake of 339.18 million or 5.87% in Karambunai held via FACB Industries Incorporated Bhd (FACBII), by virtue of him being a major shareholder of FACBII, who is the person acting in concert (PAC) with him in the offer.</p></div>


KUALA LUMPUR (Sept 24): Karambunai Corp Bhd shares surged 29% this morning after its largest shareholder Tan Sri Dr Chen Lip Keong, who holds a 73.41% stake in the company, offered to take Karambunai private in a deal worth an estimated RM184.67 million.

At 9.21am, Karambunai rose 2.5 s...

Karambunai surges 29% on offer to take private

NEW YORK/LONDON (April 26): Stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook and Instagram owner Meta hammered the tech sector, and Japan's yen sank through 155 per dollar for the first time since 1990.

Tepid U.S. GDP data pushed Wall Street...

Equities fall amid earnings gloom, as persistent inflation lifts Treasury yields

(April 26): Boeing's credit rating faced pressure for a second time this week as S&P brought the company one step closer to a junk rating on Thursday after a January mid-air blowout of a cabin panel led the planemaker to slow production of its best-selling jet.

The rating agency cha...

S&P slashes Boeing credit outlook as rating hovers above junk status

WASHINGTON (April 26): The Federal Communications Commission said on Thursday it is ordering the U.S. units of China Telecom, China Unicom and China Mobile to discontinue fixed or mobile broadband internet operations in the United States.

The FCC said it was requiring the Chinese carrie...

Agency bars Chinese telecom carriers from offering US broadband services

NEW YORK (April 26): Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected U.S. economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms META.O.

Data on...

Wall Street stocks fall as weak GDP growth spreads rate-cut gloom

(April 26): Alphabet announced its first-ever dividend on Thursday and a $70 billion stock buybuck, cheering investors who sent the stock surging nearly 16% after the bell.

The Google parent is returning capital while spending billions of dollars on data centers to catch up with rivals ...

Google parent Alphabet announces first-ever dividend, shares soar

BRIGHTON, England (April 26): Phil Foden struck twice as Manchester City stepped up their bid for a fourth Premier League crown in a row with a ruthless 4-0 victory at Brighton & Hove Albion on Thursday.

A day after Liverpool's title challenge suffered a huge blow with a 2-0 defeat ...

Man City humble Brighton to keep pressure on Arsenal

WASHINGTON (April 26): When the U.S. Supreme Court ultimately rules on Donald Trump's claim of presidential immunity from prosecution, a third of those deciding the matter will be justices he appointed to their lifetime posts.

Those three - Amy Coney Barrett, Brett Kavanaugh and Neil Go...

Trump's three US Supreme Court appointees thrash out immunity claim

Harvey Weinstein's 2020 conviction for sexual assault and rape was overturned by New York's highest court, reopening the landmark case that fuelled the #MeToo movement and highlighting the challenges of holding powerful men accountable.

Harvey Weinstein's rape conviction overturned by top New York court

Honda Motor Co will spend C$15 billion (US$11 billion or RM52.54 billion) to build out its electric vehicle (EV) supply chain in Canada, with billions of dollars of financial aid from government, as the Japanese automaker seeks to tap long-term demand in the region.

Honda to spend US$11 bil on EV strategy in Canada

Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.

PN names Hulu Selangor Bersatu acting division head as candidate for KKB by-election

<p>AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business, has announced the mechanics of its plan via a bourse filing on Thursday.</p>


AirAsia X to buy Capital A's aviation business for RM6.8b via share and debt deal 

<p>Chin Teck Plantations Bhd’s net profit surged sevenfold for the financial quarter ended Feb 29, 2024 (2QFY2024) thanks to higher palm oil production as well as lower operating and administrative expenses.</p>


Chin Teck’s 2Q net profit up sevenfold

<p>MKH Oil Palm (East Kalimantan) Bhd (MKHOP), the plantation arm of property developer MKH Bhd, reported RM16.02 million net profit on the back of RM86.05 million revenue for the second quarter ended March 31, 2024 (2QFY2024), ahead of its listing on Bursa Malaysia’s Main Market.</p>


MKH Oil Palm posts RM16 mil net profit in 2Q, q-o-q up 44% ahead of Main Market listing

<p>Global semiconductor firm Nasdaq-listed TTM Technologies Inc has invested US$200 million (about RM958 million) for its first manufacturing plant in Malaysia.</p>


Nasdaq-listed TTM Technologies invests RM958 mil for manufacturing plant in Penang

<p>Practice Note 17 (PN17) company Khee San Bhd will increase the allotment underwritten in its proposed rights issue after Ng Meng Kee ceased to be a substantial shareholder and requested to discharge his undertaking.&nbsp;</p>


Khee San revises underwriting of rights issue after substantial shareholder ceases to be, withdraws undertaking

<p>Pantech Group Holdings Bhd is considering to list two wholly-owned subsidiaries — Pantech Stainless &amp; Alloy Industries Sdn Bhd and Pantech Steel Industries Sdn Bhd — on the Main Market of Bursa Malaysia via a special purpose vehicle (SPV).</p>

<p>Plans for this are still at the preliminary stage and extensive preparatory work needs to be carried out, Pantech said in a bourse filing on Thursday.</p>


Pantech mulls listing two subsidiaries on Main Market via SPV

<p>ViTrox Corp Bhd saw its net profit nearly halved for the financial quarter ended March 31, 2024 (1QFY2024), primarily due to unfavourable product mix and higher research and development (R&amp;D) expenditures to support the introduction of new products.</p>


ViTrox 1Q’s net profit nearly halved, extending declining profits to five quarters

<p>Construction company Inta Bina Group Bhd has secured a contract worth RM224.8 million to develop a 38-storey business serviced apartment in Subang Jaya.</p>


Inta Bina bags RM224.8m job to build business serviced apartments in Subang Jaya

<p>The newly constituted board of Digital Nasional Bhd (DNB) will convene a meeting soon to review due diligence findings and address the remaining conditions precedent in the share subscription agreements (SSAs), said Digital Minister Gobind Singh Deo.</p>


DNB's new board to review due diligence findings, finalise share subscription agreements soon — Gobind

<p>While March’s headline inflation of 1.8% year-on-year (y-o-y) came in slightly lower than consensus expectations of 2%, economists are maintaining their projection that Malaysia's headline inflation will progressively accelerate towards the end of the year on account of the government's fuel subsidy rationalisation plan, utility tariff hikes, and its recent adjustments of the service tax.</p>


Inflation to pick up soon on fiscal consolidation measures after weaker-than-expected March print — economists

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:</p>


AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

<p>Pavilion Real Estate Investment Trust (PavREIT) reported that its first quarter net property income (NPI) jumped 33.2% year-on-year, thanks largely to contribution from its newly acquired mall, Pavilion Bukit Jalil. The increase was also attributed to higher occupancy rates and higher revenue rent from its other retail malls.</p>


PavREIT’s 1Q NPI jumps 33%, pays 2.48 sen distribution per unit

<p>US economic growth slowed more than expected in the first quarter, but an acceleration in inflation suggested that the Federal Reserve would not cut interest rates before September.</p>


US economic growth slows more than expected in first quarter

<p>KUALA LUMPUR (April 25): The Companies Commission of Malaysia (SSM) expects more companies to utilise the new corporate rehabilitation framework introduced by the Companies (Amendment) Act 2024, which came into force on April 1.</p>


SSM expects more companies to utilise new corporate rehabilitation framework

<p>The Malaysian Anti-Corruption Commission (MACC) has served a senior police officer arrested on suspicion of protecting an illegal syndicate in the country's capital a notice to declare his assets before April 28.</p>


Senior police officer arrested for alleged corruption given until April 28 to declare assets to MACC

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EVENING 5: Five things you need to know today

<p>KUALA LUMPUR (April 25): HeiTech Padu Bhd targets&nbsp;stronger earnings growth after returning to profitability for the financial year ending Dec&nbsp;31, 2023 (FY2023), amid greater competition.</p>


HeiTech Padu targets stronger earnings growth after returning to black in 2023

<p>TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.</p>


TAS Offshore’s 3Q net profit up nine-fold, shares surge to eight-year high

<p>KUALA LUMPUR (April 25): Atlan Holdings Bhd’s net profit fell over 42% to RM5.07 million or two sen per share, from RM8.75 million or 3.45 sen per share in the fourth quarter ended Feb 29, 2024 (4QFY2024), as increased revenue was more than offset by higher operating expenses, depreciation and amortisation, as well as finance costs.</p>


Atlan Holdings’ 4Q earnings came in lower despite higher revenue

<p>PARIS (April 25): French President Emmanuel&nbsp;Macron&nbsp;appealed on Thursday for stronger, more integrated European defences and said the continent must not become a vassal of the United States, as he&nbsp;outlined&nbsp;his vision for a more assertive European Union (EU)&nbsp;on the global stage.</p>
