<div class=newsTextDataWrapInner><p>SINGAPORE (Dec 18): Olam International is selling a 50% stake in its wholly-owned subsidiary, Far East Agri, for US$100 million (S$135 million) to Mitr Phol Sugar Corporation, Asia’s largest and the world’s fourth largest sugar producer.</p></div>

<div class=newsTextDataWrapInner><p>Far East operates a sugar refinery in Indonesia, PT Dharmapala Usaha Sukses (PT DUS) in Cilacap, Central Java. Olam will retain a remaining 50% stake in the company.</p></div>

<div class=newsTextDataWrapInner><p>This comes as part of Olam’s strategic partnership with Mitr Phol for integrated sugar milling and refining in Indonesia, through which both companies will jointly explore the development of a green-field sugar mill in Indonesia... <a href="https://www.theedgesingapore.com/olam-sells-50-stake-indonesian-subsidiary-mitr-phol" target="_blank">(Click here to read the full story.)</a></p></div><div class=inPageAd id=div-gpt-ad-inpage></div>


SINGAPORE (Dec 18): Olam International is selling a 50% stake in its wholly-owned subsidiary, Far East Agri, for US$100 million (S$135 million) to Mitr Phol Sugar Corporation, Asia’s largest and the world’s fourth largest sugar producer.

Far East operates a sugar refinery in Indonesia, ...

Olam sells 50% stake in Indonesian subsidiary to Mitr Phol for S$135 mil

The Singapore Pools has signed an agreement with the UK Tote Group to commingle pools, combining the liquidity of Singapore Pools betting customers into the UK Tote’s pools on British racing meetings.

Singapore Pools to commingle pools with UK Tote Group on British races — report

(April 25): US mortgage rates increased to the highest level in five months, pushing down home-purchase applications for the fifth time in the last six weeks.

The contract rate on a 30-year fixed mortgage increased 11 basis points in the week ended April 19 to 7.24%, the highest since N...

US 30-year mortgage rises to five-month high of 7.24%

WASHINGTON (April 24): Sales of new U.S. single-family homes rebounded in March from February's downwardly revised level, drawing support from a persistent shortage of previously owned houses on the market, but momentum could be curbed by a resurgence in mortgage rates.

The report from ...

US new home sales rebound to six-month high; rising mortgage rates a concern

Housing and Local Government Minister Nga Kor Ming’s press secretary Pang Sock Tao was announced as the unity government’s candidate for the Kuala Kubu Baharu by-election on May 11.

Nga's press secretary Pang picked as unity govt's candidate for Kuala Kubu Baharu by-election

A made-in-China electric vehicle (EV) will hit US dealers this summer offering power and efficiency similar to the Tesla Model Y, the world's best-selling EV, but for about US$8,000 (RM38,228) less.

How Volvo landed a cheap Chinese EV on US shores in a trade war

US Secretary of State Antony Blinken will meet business leaders in Shanghai on Thursday as ties between Washington and Beijing stabilise, pushing to resolve a raft of issues threatening the newly gained equilibrium between the rivals.

Blinken to meet businesses in Shanghai as he kicks off a tough China trip

VENICE (April 25): Venice becomes the first city in the world on Thursday to introduce a payment system for tourists in an effort to thin the crowds that throng the canals during the peak holiday season.

Any visitor who is not staying the night must pay a 5 euro ($5.35) entry fee online...

Overcrowded Venice introduces first payment charge for tourists

Mark Zuckerberg is asking for investors to stay patient. Again.

After Meta Platforms Inc revealed that it will spend billions of dollars more than expected this year — fueled by investments in artificial intelligence — the company’s chief executive officer did his best to soothe Wall Street.

Zuckerberg asks for patience after Meta’s AI push irks investors

Synergy House Bhd may trend higher after breaking out from its one-week bullish rectangular pattern two sessions ago, to a new all-time high.

Synergy House may trend higher, says Rakuten Trade

Singapore's Keppel said on Thursday its first-quarter net profit excluding the effects of legacy offshore and marine assets was higher, boosted by strong performance in the global asset manager's infrastructure and connectivity segments.

Singapore's Keppel profit rises on strong infra, connectivity performance

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday.</p>


KLCCP, Suria Capital, Capital A, Calsberg, Hibiscus Petroleum, Chin Hin, OCR, Fajarbaru, I-Bhd, Farm Price, United Plantations, AME REIT, Axis REIT, MyEG

<p>Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.</p>


Eden's major shareholder proposes land transfer to settle RM45.65m debt owed to company

<p>A disappointing earnings report from Meta Platforms Inc has technology investors on edge with results from some of the stock market’s biggest and most important companies due in the coming days.</p>


Meta’s miss sparks fear in tech world with big earnings looming

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>TikTok's chief executive said on Wednesday that the company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban the popular short video app used by 170 million Americans.</p>


TikTok CEO expects to defeat US restrictions: 'We aren't going anywhere'

<p>Binance co-founder Changpeng Zhao is facing up to three years in prison, if efforts by US prosecutors to secure his sentencing prove successful. More than 160 friends, colleagues and investors are determined for the crypto executive to escape incarceration entirely.</p>


Friends, family, royalty seek mercy for crypto’s richest man

<p>The High Court here on Wednesday dismissed a judicial review application by Musang King durian planters around Raub to challenge the Pahang government's decision to issue eviction notices against them.</p>


High Court bins Musang King farmers’ bid to challenge land eviction notice in Pahang

<p>The prosecution succeeded in its appeal at the Federal Court on Wednesday to forfeit RM1,112,700 from 79 investors involved in an illegal deposit-taking scheme.</p>


Apex court allows forfeiture of RM1.11m belonging to investors of illegal deposit-taking scheme

<p>A made-in-China electric vehicle (EV) will hit US dealers this summer offering power and efficiency similar to the Tesla Model Y, the world's best-selling EV, but for about US$8,000 (RM38,228) less.</p>


<p>Benchmark S&amp;P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.</p>


S&P 500 ends higher as markets weigh rising yields, upbeat corporate results

<p>CapitaLand Malaysia Trust (CLMT) reported a 63% in its first quarter net property income to RM63.98 million from RM39.24 million a year ago, driven by full quarter revenue contribution from Queensbay Mall, higher occupancies and positive rental reversions.</p>


CLMT’s 1Q net property income jumps 63% to RM64m, DPU up 37%

<p>The strategic collaboration between Sabah Ports Sdn Bhd (SPSB) and DP World, a global port terminal operator, will be a boon to Sabah’s aspiration to promote the Sapangar Bay Container Port (SBCP) as a key transshipment hub in the region, said Chief Minister Datuk Seri Hajiji Noor.</p>


Hajiji: Tie-up between Sabah Ports, DP World to boost state’s aim to become transshipment hub

<p>RHB Retail Research said Naim Holdings Bhd is likely to resume its uptrend after the recent consolidation above the 97.5 sen breakout level.</p>


Naim Holdings likely to resume its uptrend, says RHB Retail Research 

<p>RHB Retail Research said NationGate Holdings Bhd is observing a technical breakout after climbing above the RM1.70 immediate resistance on surging trading volume.</p>


NationGate is observing technical breakout, says RHB Retail Research 

<p>Singapore's Keppel said on Thursday its first-quarter net profit excluding the effects of legacy offshore and marine assets was higher, boosted by strong performance in the global asset manager's infrastructure and connectivity segments.</p>


<p>US and European shares finished mixed on Wednesday ahead of more corporate earnings this week, and the yen was mired near 34-year lows, keeping traders wary of intervention from Japan.</p>


Equities mixed as investors eye earnings; yen on intervention watch

<p>Housing and Local Government Minister Nga Kor Ming’s press secretary Pang Sock Tao was announced as the unity government’s candidate for the Kuala Kubu Baharu by-election on May 11.</p>


<p>Synergy House Bhd may trend higher after breaking out from its one-week bullish rectangular pattern two sessions ago, to a new all-time high.</p>


<p>Mark Zuckerberg is asking for investors to stay patient. Again.</p>

<p>After Meta Platforms Inc revealed that it will spend billions of dollars more than expected this year — fueled by investments in artificial intelligence — the company’s chief executive officer did his best to soothe Wall Street.</p>


<p>VENICE (April 25): Venice becomes the first city in the world on Thursday to introduce a payment system for tourists in an effort to thin the crowds that throng the canals during the peak holiday season.</p>

<p>Any visitor who is not staying the night must pay a 5 euro ($5.35) entry fee online...