<div class=newsTextDataWrapInner>KUALA LUMPUR (June 10): Shares in Lion Industries Corp Bhd rose in active trade this morning, following news that it was disposing of its hot-briquettes iron (HBI) plant and business in Labuan for US$128 million (RM546.56 million) cash to Singapore's Esteel Enterprise Pte Ltd. 
 
At the time of writing, Lion Industries was the fifth most actively traded counter across Bursa Malaysia, with share transactions topping 28 million, as its share price rose 6.5 sen or 23.21% to 34.5 sen. 
 
Yesterday, Lion Industries said it had inked a sale and purchase agreement with Esteel for the disposal of 100% stake in Antara Steel Mill Sdn Bhd, which operates the HBI plant in Labuan. 
 
Upon completion of the proposed disposal, the group is expected to realise a gain of RM433.16 million, and will increase the group's net asset per share by 63.62 sen. 
 
The deal also represents 5.08 times price-to-earnings based on its profit after tax of RM107.65 million for the financial year ended June 30, 2019. Comparatively, Lion Industries' entire steel business results booked a loss of RM75.14 million for the period.</div>
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Shares in Lion Industries Corp Bhd rose in active trade this morning, following news that it was disposing of its hot-briquettes iron plant and business in Labuan for US$128 million cash to Singapore's Esteel Enterprise Pte Ltd.

Lion Industries rises on proposed disposal of Labuan hot-briquettes iron biz

KUALA LUMPUR (April 29): YNH Property Bhd on Monday made a belated announcement about transactions involving its 6.49-acre land in Segambut, which it had inked an agreement in September last year to sell for RM59.58 million but revoked last week to have Chin Hin Group Property Bhd develop th...

YNH makes belated announcement about transactions involving its Segambut land

Shares of YTL Power International Bhd and YTL Corp Bhd rose to fresh highs on Monday as investors piled on stocks with exposure in artificial intelligence (AI).

YTL Power, YTL Corp touch new highs

Kossan Rubber Industries Bhd has clarified that the fire at a paint factory in Meru Industrial Park, Klang on Monday (April 29) had no impact on operations at its rubber glove factories.

Fire outbreak at paint processing plant 'has nothing to do with Kossan Rubber Industries', says MD

A vessel that reported on Monday an explosion in its proximity, 54 nautical miles northwest of Yemen's Mokha, has sustained damage but the ship and crew are safe and proceeding to next port of call, the United Kingdom Maritime Trade Operations (UKMTO) agency said.

Vessel sustains damage near Yemen's Mokha after explosion in its proximity, says UKMTO 

HHRG Bhd was slapped with a RM58.18 million suit by Ooi Chieng Sim, in relation to a loan given out by the former executive chairman to the company.

HHRG faces RM58 mil suit over alleged default of loan by ex-chairman

Integrated circuit (IC) design service provider Oppstar Bhd is collaborating with South Korea’s tech giant Samsung Electronics Co Ltd for the production of industrial ICs manufactured using Samsung’s 14 nanometre (nm) FinFET technology foundry process.

Oppstar partners with Samsung to produce industrial integrated circuits

Prime Minister Datuk Seri Anwar Ibrahim held a bilateral meeting with his Pakistani counterpart Muhammad Shehbaz Sharif on the sidelines of the World Economic Forum (WEF) Special Meeting here on Monday.

PM meets Pakistani counterpart, Turkiye foreign minister

The ideas and initiatives of the National TVET council and the National Entrepreneur Development Council will be coordinated to ensure the rapid development of the technopreneur section, Deputy Prime Minister Datuk Seri Dr Ahmad Zahd Hamidi said.

TVET, entrepreneur development councils to be coordinated to ensure rapid development — DPM

The Orang Asli community in the Kuala Kubu Baharu (KKB) constituency must support the Pakatan Harapan (PH) candidate during the May 11 by-election because Barisan Nasional (BN) is a friend and component party of PH.

Orang Asli community in KKB must continue support for PH candidate — Ramli

Pakatan Harapan (PH) candidate Pang Sock Tao will announce the party’s Kuala Kubu Baharu (KKB) by-election manifesto this Friday.

KKB polls: PH candidate to announce manifesto on Friday

Shares of YTL Power International Bhd and YTL Corp Bhd rose to fresh highs on Monday as investors piled on stocks with exposure in artificial intelligence (AI).

SUPERMAX Holdings Sdn Bhd (SHSB), which holds 40.3% in Supermax Corp Bhd, is the subject of a winding-up petition.

SHSB is the private company of Datuk Seri Stanley Thai and his wife, Datuk Wira Cheryl Tan Bee Geok. The couple, who have been and still are having differences in their rel...

Newsbreak: Supermax's Cheryl Tan seeks to wind up holding company

Shares of Capital A Bhd and AirAsia X Bhd (AAX) climbed further during Monday’s morning trading session, riding on a proposal announced last Thursday to merge the short- and long-haul airline operations of both companies.

AAX, Capital A lift off on merger proposal to extend rally

Saudi Arabia-based renewable energy giant ACWA Power has expressed interest in investing more than&nbsp;US$10 billion (RM47.64&nbsp;billion) in Malaysia over a 10-year period.

Among the proposed projects are those to be undertaken through collaboration with a local company, Cypark Resources Bhd.

Saudi-based ACWA Power keen on investing over US$10b in M'sia, some projects in collaboration with Cypark

Permodalan Kedah Bhd (PKB) has inked a memorandum of understanding (MOU) with Royal Eco Train Development, Republic of Korea (RETD Korea), for the Light Rail Transit (LRT) project in Langkawi.

Permodalan Kedah inks MOU with Korean firm for LRT in Langkawi

Sime Darby Property Bhd has achieved a 100% take-up rate for The Corak freehold commercial hub at the Serenia City township in Sepang, according to a press statement issued on Monday. The Corak is the township's first commercial hub.

Sime Darby Property achieves 100% take-up for The Corak commercial hub in Serenia City

Following reports that over 100 KFC outlets have been temporarily closed after about half a year of boycott movement, QSR Brands and KFC Malaysia said they suspended the operations of the outlets to manage increasing business costs amid challenging economic conditions, and to focus on high engagement trade zones.&nbsp;

QSR Brands confirms temporary closure of KFC outlets, says it is to manage rising costs

theedgemalaysia.com&nbsp;highlighted three with positive momentum and two stocks with negative momentum at Bursa Malaysia's afternoon close on Monday.

Supercomnet Technologies, MyEG, BP Plastics, LGMS, Turiya

KUALA LUMPUR (April 29): Capital A Bhd said on Monday that the number of passengers it carried rose 17% year-on-year (y-o-y) to 15.4 million in the first quarter of 2024 (1Q2024), on the back of strong travel demand during the school holidays and Chinese New Year.

Capital A’s passenger volume rises 17% in 1Q, load factor climbs to 90%

Twenty-eight National Service Training Programme operators nationwide have filed a multimillion-ringgit suit against the government for purported breach of the main contract resulting in losses of rental for 27 months and total losses of RM108.737 million to them.

Twenty-eight National Service Training Programme operators sue govt for RM108.74m in losses

The Jana Wibawa programme, which was established to assist Bumiputera contractors impacted by the Covid-19 pandemic, only took off following Cabinet approval in 2020, the court heard on Monday.

Jana Wibawa programme could only take off with Cabinet approval, says witness

Engineering services firm Kawan Renergy Bhd, en route to list on Bursa Malaysia's ACE Market next month, said on Monday it will pass higher cost from escalating steel prices to its customers.

ACE Market-bound Kawan Renergy to pass higher cost from rising steel prices to customers

Gadang Holdings Bhd has called off its planned acquisition of a 21.08-acre land in Kwasa Damansara — known as R3-1 — for RM114.78 million from Kwasa Development (3) Sdn Bhd (KD3), to be developed into a residential project.

Gadang fails in appeal to EPU for Bumi equity waiver to buy Kwasa Damansara land

Nestlé (Malaysia) Bhd's net profit for the first quarter ended March 31, 2024 (1QFY2024) dipped 0.8% to RM195.51 million from RM197.15 million a year earlier, due mainly to the impact of slightly lower sales, offset by proactive cost management initiatives as well as better commodity costs.

Nestlé's 1Q net profit dips 0.8% to RM195.5m on lower domestic sales

Tex Cycle Technology (M) Bhd said on Monday it has partnered with Evolusi Bersatu Sdn Bhd to invest RM100 million in Sabah’s first integrated scheduled waste management facility.

Tex Cycle in JV to invest RM100m to build Sabah waste management facility

Automated test equipment maker ViTrox Corp Bhd, which has just seen its net profit halve in the first quarter of 2024, is expecting a gradual recovery in the semiconductor sector towards the second half of the year (2H2024) and is continuing to ramp up its research and development (R&amp;D) investments in anticipation of that.

ViTrox to continue to ramp up R&D investment on anticipated semiconductor recovery in 2H2024

SEPANG (April 29): The Malaysian Aviation Commission (Mavcom) is aiming for a full implementation of its quality standard framework for the country’s two main airports by the end of this year.

Mavcom to fully implement Airports Quality of Service Framework at KLIA T1, T2 by year end

National car maker Perusahaan Otomobil Nasional Sdn Bhd (Proton) inaugurated its research and development (R&amp;D) centre in China last Saturday to strengthen its collaboration with partner Zhejiang Geely Holding Ltd (Geely) and complement its facilities in Malaysia.

Proton opens R&D facility in China’s Hangzhou Bay 

Sapura Energy Bhd has landed a five-year contract from PTTEP Sabah Oil Ltd and PTTEP Sarawak Oil Ltd to provide underwater services.

Sapura Energy bags underwater service contract from Thai-owned PTTEP group

Tin producer Malaysia Smelting Corp Bhd (MSC) on Monday declared a final dividend of seven sen per share, amounting to RM29.4 million, for the financial year ended Dec 31, 2023 (FY2023).