<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 19): Metronic Global Bhd has withdrawn its suit against the 11 defendants it accused of conspiring to injure and blackmail the company for RM20 million.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia today, Metronic said the suit was withdrawn since the collective shareholding of the defendants has dropped below the percentage as claimed in the company’s civil suit.</p></div>

<div class=newsTextDataWrapInner><p>"It was therefore of no necessity for the company to proceed with the suit," it said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>On May 9, Metronic launched legal action against its shareholders who collectively held a 39% stake, alleging they had conspired to injure and had blackmailed the company for RM20 million and to withdraw a police report against Tan Ew Chew.</p></div>

<div class=newsTextDataWrapInner><p>It claimed these shareholders had also failed to undertake a mandatory general offer, after they had gained control over the company.</p></div>

<div class=newsTextDataWrapInner><p>Metronic named the 11 defendants as Ew Chew, Tan Kian Hong, Tan Hong Hong, Tan Lian Hong, Ooi Chieng Sim, Lagenda Perdana Sdn Bhd, Progerex Sdn Bhd, Skylitech Resources Sdn Bhd, Hock Lok Siew Realty Sdn Bhd, A1 Capital Sdn Bhd and Ng Wai Yuan.</p></div>


Metronic Global Bhd has withdrawn its suit against the 11 defendants it accused of conspiring to injure and blackmail the company for RM20 million.

In a filing with Bursa Malaysia today, Metronic said the suit was withdrawn since the collective shareholding of the defendants has dropped below the percentage as claimed in the company’s civil suit

Metronic Global withdraws suit against shareholders for conspiracy, blackmail

(April 19): West Ham United forward Michail Antonio criticised the refereeing in Thursday's Europa League quarter-final against Bayer Leverkusen and said his side were "playing against 14".

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Saudi Arabia will need a higher oil price than previously thought this year as the Opec+ leader spearheads the group’s production cuts, according to the International Monetary Fund.

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Vietnam's central bank said on Friday it had continued providing support to Saigon Joint Stock Commercial Bank (SCB), which it put under special supervision in October 2022 after a run on its deposits.

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Kenanga Investment Bank has initiated coverage on soon-to-be listed oil and gas services firm Keyfield International Bhd at RM1.90 — reflecting a 111% premium over its IPO price of 90 sen per share — while giving it an “outperform” rating.

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Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.

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<p>Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.</p>


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<p>Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;</p>


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<p>The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.</p>


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<p>Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict.</p>


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<p>Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.</p>


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<p>RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).</p>


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<p>Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.</p>


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<p>The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).</p>


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<p>Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.</p>


<p>The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.</p>


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<p>The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.</p>


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<p>Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.</p>


<p>Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.</p>


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<p>The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.</p>


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<p>RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.</p>


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<p>Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.</p>

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<p>Chinese government-linked hackers have burrowed into US critical infrastructure and are waiting "for just the right moment to deal a devastating blow," FBI director Christopher Wray said on Thursday.</p>


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<p>Malaysia Airlines has commenced the gradual reinstatement of flights to and from Sabah, Sarawak and Labuan since the evening of April 18, in response to prevailing weather conditions.</p>
