<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 5): Muar Ban Lee Group Bhd (MBL) has proposed to undertake a private placement of up to 20% of its total number of issued shares to raise up to RM25.69 million to repay bank borrowings.</p></div>

<div class=newsTextDataWrapInner><p>MBL said in a bourse filing on Tuesday the proposed private placement will entail the issuance of up to 58.85 million placement shares, which will be issued to investors at an issue price to be identified later.</p></div>

<div class=newsTextDataWrapInner><p>Based on an illustrative issue price of 43.66 sen, the exercise is expected to raise up to RM25.69 million, of which RM25.03 million will be used to repay bank borrowings. &nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The board is of the opinion that the proposed private placement is a cost-effective source of capital to raise additional funds and an expeditious way of fundraising from the capital market as opposed to other forms of fundraising,” said MBL.</p></div>

<div class=newsTextDataWrapInner><p>The proposed private placement is expected to be completed by the end of 2021.</p></div>

<div class=newsTextDataWrapInner><p>MBL closed 0.5 sen or 1.02% lower at 48.5 sen, valuing the group at RM108.92 million.</p></div>


Muar Ban Lee Group Bhd (MBL) has proposed to undertake a private placement of up to 20% of its total number of issued shares to raise up to RM25.69 million to repay bank borrowings.

Muar Ban Lee plans private placement to raise up to RM25.69m to repay bank borrowings

Tesla Inc is set to clear a key hurdle to introduce its advanced assisted driving features in China by partnering with Baidu Inc in mapping and navigation functions, people familiar with the matter said.

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<p>Real estate developer UOA Development Bhd said it plans to launch two new projects worth an estimated RM2.7 billion in gross development value (GDV) this year.</p>


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<p>TotalEnergies, a global energy supplier based in France, has stated its commitment to increasing its investment in Malaysia’s upstream oil and gas (O&amp;G) sector, said Prime Minister Datuk Seri Anwar Ibrahim.</p>


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<p>Top Glove Corporation Bhd bagged the Platinum Trusted Brand Award in the Hygiene/Disposable Gloves category at the Reader’s Digest Malaysian Trusted Brand 2024 awards.</p>


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<p>The Japanese yen hit its weakest levels since April 1990 on Monday, in trading thinned by a holiday in Japan and attempts by traders to test key levels and stop-loss orders in a nervous, illiquid market.</p>


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<p>KUALA LUMPUR (April 28): Malaysia believes there is a need to revisit commitments to sustainable development, efficient global resources and fair and balanced trade among countries, said the Ministry of Investment, Trade and Industry (Miti).</p>


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<p>Shares of Turiya Bhd rallied on Monday to their highest in over three years after Tan Sri Mohan MK Swami and his partner agreed to acquire a 58% stake in the property management firm for RM52.86 million.</p>


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<p>RIYADH (April 28): The Asean-Gulf Cooperation Council (Asean-GCC) should find mechanisms to advance trade, investments, collaboration and research, said Malaysian Prime Minister Datuk Seri Anwar Ibrahim.</p>


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<p>Engineering solutions provider Kawan Renergy Bhd on Monday began taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM33 million.</p>


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