<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 18): NetX Holdings Bhd has ceased to be a substantial shareholder of MLabs Systems Bhd after disposing of 30 million shares in the latter.</p></div>

<div class=newsTextDataWrapInner><p>NetX said following the disposal, its shareholding in MLabs is reduced to 3.91% from 7.32% previously.</p></div>

<div class=newsTextDataWrapInner><p>The disposal of the shares was carried out by its Hong Kong subsidiary, First United Technology Ltd, in the open market on Dec 16, NetX added in a filing with Bursa Malaysia.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The group did not disclose the transaction price, but based on&nbsp; MLabs’s closing price of eight sen on Dec 16, the block of shares is valued at RM2.4 million.</p></div>

<div class=newsTextDataWrapInner><p>NetX’s share price closed half a sen or 3.45% higher at 15 sen today, after 6.25 million shares were traded. Its market capitalisation stands at RM125.4 million.</p></div>

<div class=newsTextDataWrapInner><p>MLabs closed unchanged at eight sen with 12.32 million shares changing hands. Its current market value is RM17.62 million.</p></div>


NetX Holdings Bhd has ceased to be a substantial shareholder of MLabs Systems Bhd after disposing of 30 million shares in the latter.

NetX said following the disposal, its shareholding in MLabs is reduced to 3.91% from 7.32% previously.

NetX ceases to be substantial shareholder of MLabs

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.

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<p>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.</p>


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<p>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;</p>


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<p>Sunway Putra Hotel Kuala Lumpur marked the commencement of its lobby area refurbishment with a ground-breaking ceremony.</p>
