<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 6): Parkson Holdings Bhd said its Hong Kong-listed subsidiary Parkson Retail Group Ltd (PRGL) is withdrawing from its proposed joint venture (JV) to seek land plots in China's Jiaxing city for potential property development projects.</p></div>

<div class=newsTextDataWrapInner><p>PRGL, through wholly-owned Shanghai Shengrui Commercial Management Co Ltd, entered into an agreement with Hongxiang Real Estate Co Ltd to form the JV — Jiaxing Gold Lion Real Estate Development Co Ltd — in October 2020.</p></div>

<div class=newsTextDataWrapInner><p>PRGL withdrew from the JV as the firm could not identify suitable plots of land to be used for commercial and retail purposes, Parkson said in a filing with Bursa Malaysia.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"The withdrawal does not have a material impact on the earnings of Parkson for the financial period ending Dec 31, 2021 and the net assets of Parkson based on the audited consolidated statement of financial position of the company as at June 30, 2020," Parkson said.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Parkson rose half a sen or 2.13% to close at 24 sen today, valuing the retailer at RM257.07 million.</p></div>


Parkson Holdings Bhd said its Hong Kong-listed subsidiary Parkson Retail Group Ltd is withdrawing from its proposed joint venture to seek land plots in China's Jiaxing city for potential property development projects.

Parkson pulls out of property development JV in China due to absence of suitable land

(April 25): 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.

Totaling...

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

(April 25): 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.

Shares of Facebook’s parent were down as much as 19% in after-hours trading and...

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

(April 25): Russia vetoed a United Nations Security Council resolution that would have reaffirmed a global commitment against deploying nuclear weapons in space, rebuffing US efforts to shine a spotlight on Moscow’s reported plans to do so.

The resolution underscored that countries are ...

Russia blocks US bid to reaffirm nuclear-arms ban in space

NEW YORK (April 25): Benchmark S&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.

An auction of a record $70 billion worth of five-year U.S. Treasury notes on We...

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

WOLVERHAMPTON, England (April 25): Bournemouth snapped a three-game winless run in the Premier League with a 1-0 victory at former manager Gary O'Neil's Wolverhampton Wanderers on Wednesday courtesy of a first-half strike from Antoine Semenyo.

The win moved Bournemouth up to 10th place ...

Bournemouth back to winning ways with 1-0 victory over Wolves

LONDON (April 25): Crystal Palace made absolutely sure of Premier League safety with an impressive 2-0 home defeat of Newcastle United on Wednesday with both goals scored by Jean-Philippe Mateta.

It was a well-deserved win for the hosts while Newcastle's European hopes were dealt a blow...

Mateta double fires Palace to win over Newcastle

CAIRO/JERUSALEM (April 25): Israeli warplanes pounded the northern Gaza strip for a second day on Wednesday in a fierce assault that has shattered weeks of comparative calm, and Israel said it was moving forward with plans for an all-out assault on Rafah in the south.

After an abrupt Is...

Israel says Rafah assault looms; massive Gaza airstrikes end weeks of relative calm

MANCHESTER (April 25): Manchester United captain Bruno Fernandes came to his side's rescue with two goals in a 4-2 home victory over the Premier League's bottom club Sheffield United on Wednesday just when more trouble loomed for beleaguered manager Erik ten Hag.

Twice United trailed ag...

Fernandes digs Man Utd out of hole in win over Sheff Utd

NEW YORK/LONDON (April 25): U.S. 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.

An auction of a record $70 billion worth of five-year U.S. Treasury note...

Equities mixed as investors eye earnings; yen on intervention watch

LIVERPOOL, England (April 25): Everton's Jarrad Branthwaite and Dominic Calvert-Lewin scored in a pulsating 2-0 home victory over Liverpool in the Merseyside derby on Wednesday that could prove to be the death of the visitors' withering Premier League title hopes.

Everton's first derby ...

Everton deal Liverpool big blow with shock 2-0 derby victory

<p>The Civil Aviation Authority of Malaysia (CAAM) has revoked the air operator's certificate (AOC) of cash-strapped low-cost carrier MYAirline Sdn Bhd, effective April 15, after it failed to find a new investor before the April 14 deadline.</p>


MYAirline loses licence to operate as commercial airline as CAAM revokes AOC

<p>The daughter of a Chinese nickel billionaire purchased a multimillion-dollar mansion in Singapore, adding to the list of wealthy people seizing buying opportunities during the market lull.</p>

<p>Xiang Yangyang, the daughter of Xiang Guangda, who owns Tsingshan Holding Group Co, the world’s largest nickel and stainless steelmaker, agreed to buy the 2,612 sq m (28,111 sq ft) house in the country’s Bin Tong Park enclave, according to a property record seen by <em>Bloomberg News.</em></p>


Chinese metal tycoon’s heir buys US$62m Singapore mansion

<p>Mah Sing Group Bhd's land acquisition for its third development in Setapak,&nbsp;Kuala Lumpur, namely M Azura, has become unconditional. The developer has three months to pay the balance purchase price of about RM59 million. The land for M Azura was acquired on Dec 8, 2023 for a total cost of RM74.3 million.</p>


Mah Sing's land acquisition for M Azura has become unconditional

<p>KUALA LUMPUR (April 24): Construction outfit Fajarbaru Builder Group Bhd has bagged a RM252.26 million contract from WCT Holdings Bhd to undertake Phase 1 of a two-phase development of two blocks of serviced apartments in Johor Bahru.</p>


Fajarbaru Builder bags RM252m construction job in Johor Bahru from WCT

<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>Hibiscus Petroleum Bhd said it has completed the drilling of the Bunga Aster-1 exploration well and is expecting its first oil production to begin in May.</p>


Hibiscus Petroleum completes drilling at Bunga Aster-1 well, first oil production set for next month

<p>(April 25): 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>

<p>Shares of Facebook’s parent were down as much as 19% in after-hours trading and...

<p>Suria KLCC's established reputation as a premier shopping destination has set it apart from other malls in the same vicinity, which provided it an effective buffer against new competition, according to KLCCP Stapled Group chief executive officer Datuk Md Shah Mahmood.</p>


Suria KLCC shrugs off competition from new malls, with occupancy rate hitting 98% at end-2023

<p>KUALA LUMPUR (April 24): Suria Capital Holdings Bhd’s wholly owned Sabah Ports Sdn Bhd has roped in DP World, an Emirati multinational logistics company based in Dubai, to manage Sapangar Bay Container Port (SBCP), in a bid to cement the port’s position as a regional trade hub for the East Asean growth area spanning Brunei, Indonesia, Malaysia and the Philippines (BIMP-EAGA).</p>


Suria Capital’s Sabah Ports ropes in Dubai’s DP World to manage Sapangar Bay Container Port

<p>United Plantations Bhd’s (UP) net profit grew 18.54% year-on-year to RM132.87 million for the first quarter ended March 31, 2024 (1QFY2024), mainly due to a sharp drop in finance cost, on the back of slightly higher revenue, thanks to higher crude palm oil (CPO) and palm kernel (PK) prices.</p>


United Plantations kicks off FY2024 on positive note as 1Q profit rises 18.5%

<p>Axis Real Estate Investment Trust (Axis REIT), which focuses on industrial assets, is disposing of its property in Nusajaya, Johor, for RM162 million cash to a data centre operator. It did not disclose the identity of the purchaser.</p>


Axis REIT to dispose of Axis Steel Centre @ SiLC in Johor for RM162m cash

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EVENING 5: Five things you need to know today

<p>GXBank, Malaysia’s first digital bank, said it plans to establish a regional centre of excellence (COE) for shared services in Malaysia, serving Grab-led digital banks and financial and operational services in the region.</p>


Grab-led GXBank to establish regional centre of excellence in Malaysia by year-end

<p>(April 24):&nbsp;Firms making up more than half of Asia’s stock market value are vulnerable to deforestation, species loss and other nature-related risks, according to a new report, as governments ramp up regulations and industries continue to deplete the planet’s resources.</p>


Investors spot new nature-related risk in firms worth half of Asia’s market value

<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>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>The yen fell on Wednesday to its weakest levels against the dollar since 1990, with markets alert to any signs of intervention from the Japanese authorities to prop up their currency.</p>


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<p>US President Joe Biden’s recent polling bump in key battleground states has mostly evaporated, as a deep current of pessimism about the trajectory of the US economy hurts his standing with voters.</p>


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<p>OCR Group Bhd on Wednesday entered into a deal with a landowner to jointly develop a residential project on 18.37 acres (7.43 hectares) of freehold land in Templer, Rawang, with an estimated gross development value of RM313 million.</p>


OCR Group inks JV agreement for residential development in Rawang

<p>Malaysia's trade with China rose 3% year-on-year (y-o-y) in the first quarter of 2024 (1Q2024), following a better-than-expected gross domestic product (GDP) growth seen in the world's second largest economy during the quarter, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.</p>
