<div class=newsTextDataWrapInner>KUALA LUMPUR (Oct 2): Pensonic Holdings Bhd is disposing of its land and warehouse in Penang to Cheung Woh Technologies (Malaysia) Sdn Bhd for RM9.25 million or RM231.25 per sq ft. 
 
The disposal is expected to result in a gain of RM7.97 million. 
 
Pensonic plans to use proceeds from the disposal for working capital, to reduce its borrowings and/or contribute towards the expansion of its core business. 
 
In a filing with Bursa Malaysia today, Pensonic said its wholly-owned unit Keat Radio Co Sdn Bhd has signed a sale and purchase agreement with Cheung Woh Technologies for the proposed disposal. 
 
“The net book value of the property based on the latest audited financial statements of Pensonic group for the financial year ended May 31, 2014, was RM919,522,” said the electrical and electronic appliance maker. 
 
“The disposal represents an opportunity for Pensonic group to unlock the value of assets which do not contribute towards the group’s core business of home electrical appliances. 
 
“The disposal would also free the group from future holding and maintenance costs of the investment properties,” said Pensonic. 
 
The disposal is expected to be completed within six months. 
 
Pensonic closed unchanged at 46 sen today, giving it a market capitalisation of RM59.65 million.</div>

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KUALA LUMPUR (Oct 2): Pensonic Holdings Bhd is disposing of its land and warehouse in Penang to Cheung Woh Technologies (Malaysia) Sdn Bhd for RM9.25 million or RM231.25 per sq ft.

The disposal is expected to result in a gain of RM7.97 million.

Pensonic plans to use ...

Pensonic to dispose Penang properties for RM9.25m

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YX Precious Metals Bhd, a 70%-owned subsidiary of Tomei Consolidated Bhd, has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

In a bourse filing, the gold jewellery wholesaler and manufacturer said it has also satisfied the Securities Commission Malaysia (SC) and Main Market listing requirements on financial position, public shareholding spread and Bumiputera equity.

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KUALA LUMPUR (April 19): Oil-and-gas services firm Yinson Holdings Bhd said on Friday that its indirect wholly owned subsidiary Yinson Production Offshore Pte Ltd (Yinson Production) has successfully placed a US$500 million five-year senior secured bond issue.

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KUALA LUMPUR (April 19): Fajarbaru Builder Group Bhd said it has secured a RM13.33 million contract to upgrade fire engineering systems at the Kuala Lumpur International Airport’s Terminal 1 satellite building.

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Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.

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Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.

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Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;

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RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).

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Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.

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MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;

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Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.

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The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).

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The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.

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The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.

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Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.

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Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.

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Sime Darby Property Bhd, Malaysia’s biggest developer in terms of landbank, has secured commitment for the remaining 30% of its industrial development fund to close at RM1 billion.

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Financial services provider MIDF has reported a recent cyber security incident to relevant authorities and is collaborating closely with them on addressing the matter.

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Kenanga Investment Bank has initiated coverage on soon-to-be listed oil and gas services firm Keyfield International Bhd at RM1.90 — reflecting a 111% premium over its IPO price of 90 sen per share — while giving it an “outperform” rating.

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PUTRAJAYA (April 19): Payment of fees&nbsp;for training or classes in esports, equestrian, swimming, motorsports and taekwondo is&nbsp;eligible for&nbsp;tax relief of up to RM1,000 from next year, said Youth and Sports Minister Hannah Yeoh.

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Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.

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KUALA LUMPUR (April 19): Oil-and-gas services firm Yinson Holdings Bhd said on Friday that its indirect wholly owned subsidiary Yinson Production Offshore Pte Ltd (Yinson Production) has successfully placed a US$500 million five-year senior secured bond issue.

Automotive electronic parts manufacturer MCE Holdings Bhd has commenced the construction for its MCE Auto Hub, the company’s new manufacturing facility in Serendah, Selangor, with an initial investment of RM50 million for the first phase of the development.&nbsp;