<div class=newsTextDataWrapInner>SINGAPORE (Aug 30): mm2 Asia has confirmed the sale of its controlling stake in its chain of cinemas. While it will collect net proceeds of S$67.3 million, it will also book a loss of S$84.7 million.</div>

<div class=newsTextDataWrapInner>Under terms of an agreement signed on Monday, mm2 Asia will sell 80% of its cinema business to one Jasmine Foo Mei Ling, who is buying the stake via Kingsmead Properties.&nbsp;</div>

<div class=newsTextDataWrapInner>According to mm2 Asia, she manages her<a href="https://www.theedgesingapore.com/news/company-news/mm2-asia-confirms-sale-controlling-stake-cinema-business-loss-847-mil" target="_blank">...(click on link for full story on theedgesingapore.com)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (Aug 30): mm2 Asia has confirmed the sale of its controlling stake in its chain of cinemas. While it will collect net proceeds of S$67.3 million, it will also book a loss of S$84.7 million.

mm2 Asia confirms sale of controlling stake of cinema business at a loss of S$84.7 mil

Late last year, a Chinese carrier accidentally sold flight tickets at about US$1.30 each during a two-hour technical glitch in its mobile phone app and some ticket booking platforms. Naturally, consumers started sharing the great deal on social media until the airline company rectified the glitch.

Coffee Break: A matter of honour?

Embattled French tech company Atos SE has received offers to help bail out the company that will frame the discussions with its stakeholders around its restructuring.
 
David Layani’s OnePoint, a group of Atos creditors, private equity firm Bain Capital and billionaire Daniel Kretinsky alongside credit fund Attestor Ltd submitted offers last week, the company said in a statement on Monday. The company decided not to pursue discussions with Bain Capital because the private equity firm’s offer didn’t meet Atos’ objectives.

Atos gets buyout offers from billionaire Kretinsky, OnePoint

KUALA LUMPUR (May 6): Defence Services Asia (DSA) and National Security Exhibition (Natsec) Asia 2024 are able help the country gauge whether its defence assets are in line with the latest technological advances.

Asia defence services and security exhibition a medium to evaluate national assets in line with current tech — minister

Black Hawk helicopters descended to Itbayat before noon on Monday, ushering a platoon of US and Philippine marines to conduct rare military drills on the Southeast Asian nation’s northernmost inhabited island — and one of its closest to Taiwan.

US holds drills with the Philippines at tiny island near Taiwan

After spending decades establishing townships such as Mutiara Damansara and Mutiara Hills in Selangor as well as Mutiara Rini in Skudai, Johor, Boustead Properties Bhd is now looking to elevate them — starting with the regeneration of Mutiara Damansara.

Mutiara Damansara, which spans 35...

Cover Story: Boustead Properties to unveil The Lines in Mutiara Damansara in 3Q2024

ALTHOUGH Indonesia’s central bank last Wednesday surprised with a rate hike of 25 basis points to 6.25% — the nation’s highest — to shore up the rupiah, Malaysia does not face any pressure to do the same, as economic growth remains a priority of Bank Negara Malaysia, economists say.

Fur...

The State of the Nation: No pressure for Malaysia to follow suit after Indonesia’s surprise rate hike, economists say

Rehda Youth, the youth division of the Real Estate and Housing Developers’ Association Malaysia, organised a study tour of six sites in Penang last August.

Among them were PKT Logistics Group’s One Auto Hub, an integrated logistics hub in Batu Kawan, and Paramit Malaysia Sdn Bhd’s manuf...

Getting up to date on Penang’s real estate industry on Rehda Youth tour

GEORGE TOWN (May 6): The implementation of the Perak-Penang water project will not only benefit the three northern states in the peninsula, but also guarantee the needs of 32,993 user accounts in the affected Seberang Prai Selatan (SPS) district in Penang.

Chow: Perak-Penang water project to benefit 32,993 Seberang Prai Selatan users, development centres

The Public Service Department (JPA) has adopted Pulau Aman under the MADANI village adoption programme with an allocation of RM2.5 million aimed at developing it into a tourist attraction and improving the living standards of its residents.

JPA adopts Pulau Aman as Madani village with RM2.5 mil allocation

KUALA LUMPUR (May 6): Addressing non-traditional security risks requires prioritising resources for the younger generation, emphasised Defence Minister Datuk Seri Mohamed Khaled Nordin.

Prioritise younger generation in addressing non-traditional risks — defence minister

BMI, a Fitch Solutions company, said Malaysia's deepwater explorations are expected to accelerate as more investments are directed towards under-explored areas.

BMI: Deepwater exploration in Malaysia gathers momentum

The FBM KLCI’s uptrend has been relentless since mid-April as accumulation on blue chips&nbsp;by both local institutions and foreign funds continues, according to Rakuten Trade.

Banks, construction to be in focus as FBM KLCI could test 1,600 soon, says Rakuten Trade 

Fraser &amp; Neave Holdings Bhd (F&amp;N) shares surged to their highest in five years on Monday, as better-than-expected results buoyed investors' optimism, while analysts maintained their calls following a briefing.

F&N surges to five-year high on better earnings, outlook

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

In an alert last Thursday, the commission said the following persons/entities were added to the list:

SC adds six entities to Investor Alert List, four being potential clones

Foreign buying of Malaysian equities surged 3.6 times to RM1.06 billion last week from RM292.2 million the prior week, as they net bought every day of the week.

Foreign buying of local equities surged to RM1.06b last week, says MIDF

Maybank Investment Bank (Maybank IB) on Monday began coverage of SAM Engineering &amp; Equipment (M) Bhd with a counter-consensus ‘buy’ call, betting on the cyclical recovery of aerospace and semiconductor sectors.

Maybank IB joins coverage of SAM Engineering with counter-consensus ‘buy’ call

Prime Minister Datuk Seri Anwar Ibrahim will be having an online meeting with tech giant Google on Monday.

Without disclosing more details on the issues to be discussed, he said Malaysia has continued to receive interests from foreign investors.

Anwar scheduled to have online meeting with Google on Monday

Phillip Capital has initiated coverage on T7 Global Bhd with a “buy” rating at 53 sen and a target price of 68 sen.

Phillip Capital starts coverage on T7 Global, target price 68 sen 

Proton Holdings Bhd reported on Monday its car sales rose by 17.1% to 11,025 vehicles in April (including domestic and exports) compared to the 9,415 units sold last year.&nbsp;

Proton records sales of 11,025 units in April, higher by 17.1% y-o-y

President Xi Jinping has arrived in France to begin talks aimed at stabilising China’s relationship with Europe, as he tries to perform damage limitation on trade ties with the key bloc.

Xi begins Europe tour in Paris as Macron seeks to reset ties

Asian stocks rose to their highest in over a year on Monday on renewed bets that the Federal Reserve (Fed) would most likely ease rates this year, while the yen weakened after a strong surge last week from Tokyo's suspected currency intervention.

Asia shares rally on China's gains, Fed cut bets; yen weakens

The Attorney General's Chambers (AGC) will be objecting to Muar Member of Parliament Syed Saddiq's leave application to take legal action against Prime Minister Datuk Seri Anwar Ibrahim and the government over RM730,300 in allocations meant for his constituency.

AGC to object to Syed Saddiq's leave application over unpaid allocations

Robusta coffee prices have climbed to the highest in 45 years, according to the International Coffee Organisation (ICO), as a supply crunch intensifies for the variety used in espresso blends and instant drinks.

Coffee variety priciest in 45 years in blow to instant brews

LONDON (May 6): High Chinese tariffs on EU brandy would leave French companies with vast amounts of cognac that could be hard to sell elsewhere, according to Reuters' calculations, analysts, and investors who fear firms could be forced to discount.

China opened an anti-dumping investiga...

Chinese tariffs could leave cognac makers with too much brandy

Analysts have raised their earnings forecasts and target prices (TPs) for plastic packaging maker SLP Resources Bhd, after the group's latest financial results beat their expectations due to improved product mix and higher output.

Analysts raise SLP Resources earnings forecasts, TPs after strong 1Q performance

Across much of the developed world, one of the most dependable drivers of economic growth is faltering.

For decades, the rapid inflow of migrants helped countries including Canada, Australia and the UK stave off the demographic drag from aging populations and falling birth rates.

Global housing shortages are crushing immigration-fuelled growth

NCT Group of Companies has signed memorandums of understanding (MOUs) with SMARTSEL Sdn Bhd and Mikro Sdn Bhd to scale up the capabilities of the NCT Smart Industrial Park (NSIP), while introducing advanced sustainability practices geared to positively impact its carbon footprint.

NCT inks deal to integrate 4G and 5G networks at NCT Smart Industrial Park

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

Inta, SNS, Harbour, Marco, Fiamma, SAM 

Billionaire investor Warren Buffett said there are “load of opportunities” in India, but he’s leaving them to future management.

Buffett says India holds ‘unexplored’ opportunities for future Berkshire leaders

KUALA LUMPUR (May 6): Communications Minister Fahmi Fadzil said the World Press Freedom Index produced by Reporters Without Borders (RSF) is not the golden standard but a mere benchmark for the government to consider the actions that can be taken to improve the nation’s media freedom.