<div class=newsTextDataWrapInner>KUALA LUMPUR (July 24): Shares in KUB Malaysia Bhd fell 2.53% this morning after the firm said it is selling its factory and land in Mukah, Sarawak for RM43 million and RM1.8 million respectively.</div>

<div class=newsTextDataWrapInner>At 9.26am, KUB dipped 1 sen to 38.5 sen for a market capitalisation of RM214.24 million.</div>

<div class=newsTextDataWrapInner>The group is selling the factory (inclusive of ancillary equipment and machinery) and the 60-hectare plot of leasehold land to Sinong Pelita Oil Mill Sdn Bhd.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>Proceeds from the sale of the factory will be used to settle bank borrowings and reduce other debts, while proceeds from the sale of the land will be used for operational requirements — with the proposed disposals slated for completion within 90 days, with a 30-day extension option at 8% interest per annum.</div>

KUALA LUMPUR (July 24): Shares in KUB Malaysia Bhd fell 2.53% this morning after the firm said it is selling its factory and land in Mukah, Sarawak for RM43 million and RM1.8 million respectively.

At 9.26am, KUB dipped 1 sen to 38.5 sen for a market capitalisation of RM214.24 million.

KUB falls 2.53% on disposing factory and land in Mukah 

Axis Real Estate Investment Trust (Axis REIT), which focuses on industrial assets, is disposing of its property in Nusajaya, Johor, for RM162 million cash to a data centre operator. It did not disclose the identity of the purchaser.

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The Civil Aviation Authority of Malaysia (CAAM) has revoked the air operator's certificate (AOC) of cash-strapped low-cost carrier MYAirline Sdn Bhd, effective April 15, after it failed to find a new investor before the April 14 deadline.

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OCR Group Bhd on Wednesday entered into a deal with a landowner to jointly develop a residential project on 18.37 acres (7.43 hectares) of freehold land in Templer, Rawang, with an estimated gross development value of RM313 million.

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The ringgit closed marginally lower on Wednesday on firmer US dollar Index (DXY) despite the US’ sluggish manufacturing purchasing managers' index (PMI) data on Tuesday.

Ringgit ends marginally lower on firmer US dollar index  

Malaysia's trade with China rose 3% year-on-year (y-o-y) in the first quarter of 2024 (1Q2024), following a better-than-expected gross domestic product (GDP) growth seen in the world's second largest economy during the quarter, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

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Mah Sing Group Bhd's land acquisition for its third development in Setapak, Kuala Lumpur, namely M Azura, has become unconditional. The developer has three months to pay the balance purchase price of about RM59 million. The land for M Azura was acquired on Dec 8, 2023 for a total cost of RM74.3 million.

Mah Sing's land acquisition for M Azura has become unconditional

The Ministry of Investment, Trade and Industry (Miti) will finalise a comprehensive strategic plan for the semiconductor industry to ensure Malaysia remains competitive in the sector.

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1Malaysia Development Bhd (1MDB) on Wednesday failed in its bid to have its US$250 million suit against Riza Aziz, Red Granite Pictures Inc, and Red Granite Capital Ltd heard by the same High Court, where a related 1MDB claim involving Riza's stepfather Datuk Seri Najib Razak is set to commence.

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Chin Hin Group Property Bhd said on Wednesday it had signed two agreements to develop two separate residential projects in Kuala Lumpur worth RM1.08 billion in combined gross development value (GDV).

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There is no issue of payment arrears by Syarikat Perumahan Negara Bhd (SPNB) to the contractors appointed to complete housing projects under the company as has been circulating on social media recently.

SPNB chairman Datuk Husam Musa said the issue of payment of arrears had been resolved in 2021, and the video that is being viralled now is an old one from 2019.

No payment arrears to contractors, says SPNB

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

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Farm Price Holdings Bhd on Wednesday began taking orders from investors for its initial public offering (IPO) on the ACE Market to raise up to RM32.4 million.

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Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is the entity that is bidding to acquire SriLankan Airlines, and if it materialises, will raise its own capital for the acquisition, according to chief executive officer Tan Sri Tony Fernandes.

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Analysts predict a decline in earnings for Malaysian automotive companies in 2024, attributed to lower sales volumes and higher operating costs, coupled with the emergence of several Chinese original equipment manufacturers (OEMs) offering attractive pricing.

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E-government services provider MyEG Services Bhd has inked an agreement to collaborate on the launch of a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products.

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One of the world’s busiest land checkpoints is set to become less congested as Malaysians travelling to Singapore on factory buses will be able to clear immigration through QR code.

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Carlsberg Brewery Malaysia Bhd, the locally-listed unit of the Danish brewer, confirmed the price increases for its beer products starting this month.

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Bursa Malaysia remained in positive territory at the midday break on Wednesday, supported by continuous buying in selected heavyweight counters, especially in the telecommunications and media sectors.&nbsp;

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Capital A Bhd’s board of directors has decided to extend Tan Sri Tony Fernandes'&nbsp;tenure as the chief executive officer for another five years, and as a strategic adviser to the airlines business, which is poised to be merged into AirAsia X Bhd.

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Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.

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JASMINE Loo was the third individual wanted by the authorities, on the Interpol Red Notice list, &nbsp;to return to Malaysia.

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Shares of DXN Holdings Bhd surged on Wednesday to its highest in more than a month as analysts continued to urge investors to buy the stock after the health supplement company’s fourth-quarter (4Q) results.

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The Malaysian Anti-Corruption Commission investigating officer (MACC IO) probing Datuk Seri Najib Razak in relation to the 1Malaysia Development Bhd (1MDB) debacle never asked the former prime minister if he had instructed for the controversial transfer of US$700 million to a company linked to fugitive Low Taek Jho (Jho Low), the court heard on Wednesday.

MACC officer did not ask Najib if he instructed controversial transfer of US$700m to Good Star

Haily Group Bhd shares continued their uptrend on Wednesday to a near all-time high, after the construction outfit won a RM109.5 million contract for terrace houses in Pontian, Johor.

Haily shares near all-time high after securing RM109.5m housing job

Gold’s record-setting rally this year has puzzled market watchers, as bullion has roared higher, despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.

Gold’s record-setting rally may have its roots in Chinese frenzy

KUALA LUMPUR (April 24): Dataprep Holdings Bhd said on Wednesday that Tan Sri Muhammad Ikmal Opat Abdullah has ceased to be the substantial shareholder in the IT products and services company.

Muhammad Ikmal of Widad ceases to be Dataprep’s substantial shareholder as shares sale continues

Several important developments related to Digital Nasional Bhd (DNB), including the appointment of its board members and the direction of the agency, will be announced on Thursday, said Communications Minister Fahmi Fadzil.

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French electronic manufacturing service firm eolane has launched a new manufacturing plant in Kulim Hi-Tech Park, Kedah involving an investment of €8.7 million (RM45 million) for the first phase of the project.

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Meta Bright Group Bhd said its wholly owned subsidiary FBO Land (Serendah) Sdn Bhd and Doople Tech Sdn Bhd have entered a solar supply agreement with Cherengin Hills Sdn Bhd, following its recent collaboration with Doople to form a joint venture (JV) company to bid for renewable energy (RE) projects with a Bumiputera equity requirement.