<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on December 10, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: ACE Market-bound Powerwell Holdings Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>The switchboard manufacturer said Mercury Securities will underwrite 32.15 million shares to be offered by the group under the “retail offering” portion of its initial public offering (IPO).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In a statement, Powerwell said the shares will be made available to the public via balloting and also to the company’s eligible directors and staff.</p></div>

<div class=newsTextDataWrapInner><p>The IPO comprises a public issue of 87.40 million new shares and an offer for sale of 58.06 million existing shares at 25 sen apiece. The 32.15 million shares to be underwritten will consist of 23.80 million new shares from the public issue portion and 8.35 million shares under the offer for sale portion.</p></div>

<div class=newsTextDataWrapInner><p>The company will have a market capitalisation of RM145.14 million based on its enlarged issued share capital of 580.55 million shares after the IPO.</p></div>


KUALA LUMPUR: ACE Market-bound Powerwell Holdings Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd.

The switchboard manufacturer said Mercury Securities will underwrite 32.15 million shares to be offered by the group under the “retail offering” portion of its ini...

Powerwell signs underwriting pact with Mercury Securities

Bursa Malaysia opened higher on Wednesday, tracking Wall Street's upbeat overnight performance, as confidence was buoyed by a spate of solid corporate earnings that many see as a precursor of those from the mega caps which will be reported over the next few days, said an analyst.

Bursa opens higher tracking overnight Wall Street

The ringgit rebounded in early trade on Wednesday as the US dollar retreated after S&P Purchasing Managers' Index (PMI) data disappoint.

Ringgit rebounds on softer US dollar after PMI data

Meta Bright Group Bhd said its wholly owned subsidiary FBO Land (Serendah) Sdn Bhd and Doople Tech Sdn Bhd have entered a solar supply agreement with Cherengin Hills Sdn Bhd, following its recent collaboration with Doople to form a joint venture (JV) company to bid for renewable energy (RE) projects with a Bumiputera equity requirement.

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KUALA LUMPUR (April 24): Rakuten Trade said Nationgate Holdings Bhd may extend it upward trajectory after breaking out from its one-month rectangular pattern yesterday.

In a technical view note on Wednesday, the research house said that in view of the stock bouncing off the 20-day expon...

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In a trading stocks note on Wednesday, the research house said that as such, the bullish momentum may...

Censof observing a technical breakout, says RHB Retail Research 

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In a trading stocks note on Wednesday, the research house said that the bullish ...

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MIDF says Axis REIT is strengthening its presence in Bukit Raja.

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Mergers and acquisitions (M&A) activities fell to the lowest in a decade in 2023. According to the “Global M&A Report” published by Bain & Co, the total M&A market fell by 15% year on year last year to US$3.2 trillion, the lowest in a decade.

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The investment banking giant reported first-quarter earnings last week that included a massive profit beat, which one analyst heralded as a “near-p...

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(April 24): Digital payments company Block Inc., formerly known as Square, has finished the development of its Bitcoin mining chip as Chief Executive Jack Dorsey continues to advocate for a more accessible and decentralized system — an effort he’s championed since 2021.

The three-nanome...

Jack Dorsey’s block finishes development of Bitcoin mining chip

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KomarkCorp, Topmix, PavREIT, Axis REIT, KIP REIT, Cypark, Crest Builders, Capital A, Gadang, Haily, DXN, Inta Bina, Comfort Gloves, AHB

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PavREIT says Pavilion KL, Elite's footfalls unaffected by opening of TRX mall

<p>Chin Hin Group Bhd’s conditional mandatory takeover offer to acquire the remaining shares it does not own in Signature International Bhd has turned unconditional, after it aggregated more than 50% of the voting shares.</p>


Chin Hin's MGO for Signature International turns unconditional as shareholding surpasses 50%

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<p>The M503-3 Maritime Operations Helicopter (HOM) that was involved in a crash Tuesday morning was used for the first time in the flyby for the 90th Royal Malaysian Navy (TLDM) Anniversary parade.</p>


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<p>Sarawak’s strategic alliances with the UK's leading industry partners in the development of compound semiconductors will drive innovation to increase the capability of microchips to power new technologies and applications, said Sarawak Premier Tan Sri Abang Johari Tun Openg.</p>


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<p>KOTA KINABALU (April 23): The Kibing Group has successfully exported its inaugural batch of solar glass manufactured in Sabah, totalling 672 tonnes, to Cambodia last Sunday (April 21).&nbsp;</p>


Kibing Group exports 672 tonnes of Sabah’s first batch of solar glass to Cambodia

<p>(April 24): U.S. stocks closed higher on Tuesday following positive earnings from top-tier companies and as investors were focused on quarterly results from Magnificent Seven and other megacap growth stocks.</p>

<p>Tesla kicked off the earnings cycle for technology heavyweights after markets c...

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<p>Inta Bina Group Bhd has bagged a contract worth RM169.67 million to develop a serviced apartment project in Country Heights.</p>


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<p>IPOH (April 23): The post-mortems of 10 victims of the tragedy of two helicopters colliding near the Royal Malaysian Navy (TLDM) base in Lumut, currently being carried out at the Raja Permaisuri Bainun Hospital here, are expected to be completed by Wednesday (April 24) afternoon.</p>


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<p>NEW YORK/LONDON (April 24): Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the U.S. megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.</p>

<p>Treasury yields dipped after data showed U.S. business activity cooled to ...

Stocks gear up for Big Tech earnings; yen touches multi-year lows

<p>(April 24): Tesla Inc. is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales.</p>

<p>The electric-vehicle maker plans to start production on the cheaper cars before the second half of 2025, when it had previously pledged to begi...

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<p>KOTA KINABALU (April 23):&nbsp;The Sabah government has not imposed state sales tax&nbsp;and the Royal Malaysian Customs Department has also not levied export duties on gold taken out of Sabah to Peninsular Malaysia, the Sabah State Legislative Assembly was told on Tuesday.</p>


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<p>Wall Street's main indexes rose on Tuesday as some growth and chip shares gained, while stocks like General Motors and Spotify advanced on upbeat earnings updates ahead of quarterly reports from big technology companies.</p>


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<p>US business activity cooled in April to a four-month low due to weaker demand, while rates of inflation eased slightly even as input prices rose sharply, suggesting some possible relief ahead as the Federal Reserve looks for signs that the economy is ebbing enough to bring inflation down further.</p>


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<p>KOTA KINABALU (April 23):&nbsp;A total compensation of RM651 million has been paid to 1,591 landowners and stakeholders involved in the construction of the Pan Borneo Highway project in Sabah.</p>


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<p>Mergers and acquisitions (M&amp;A) activities fell to the lowest in a decade in 2023. According to the “Global M&amp;A Report” published by Bain &amp; Co, the total M&amp;A market fell by 15% year on year last year to US$3.2 trillion, the lowest in a decade.</p>


<p>HHRG Bhd, formerly known as Heng Huat Resources Group Bhd, aims to raise between RM16.1 million and RM18.14 million through a private placement of up to 10% of its expanded issued share capital to yet-to-be identified third-party investors, at a price to be fixed.</p>
