<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 20): Sarawak Cable Bhd is selling a helicopter for RM35.18 million to partially pay off its debts.</p></div>

<div class=newsTextDataWrapInner><p>The group said its wholly-owned subsidiary Aerial Power Lines Sdn Bhd (APL) — which is involved in aerial power lines operation and rental management of helicopters — has inked an agreement to sell the Makila 2A1 helicopter to Singapore-based helicopter distributor Rotortrade Services Pte Ltd.</p></div>

<div class=newsTextDataWrapInner><p>The estimated gain on disposal for the helicopter will be some RM371,000, it added in a bourse filing.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The proposed disposal is undertaken by the group as part of the asset rationalisation programme which shall reduce our gearing level as the relevant bank borrowings for the aircraft shall be pared down substantially,” said Sarawak Cable.</p></div>

<div class=newsTextDataWrapInner><p>It said RM33.09 million of the proceeds will go towards paying back a loan it has with the Export-Import Bank of Malaysia Bhd, where the outstanding amount is RM42.66 million.</p></div>

<div class=newsTextDataWrapInner><p>Following the disposal, Sarawak Cable's borrowings would decline to RM501.12 million from RM534.21 million as of Dec 31, 2019.</p></div>

<div class=newsTextDataWrapInner><p>Its gearing ratio would decline to 3.13 times from 3.35 times currently.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Sarawak Cable closed 5.41% or two sen lower at 35 sen, valuing the group at RM117.45 million. The counter saw 1.44 million shares traded.</p></div>


Sarawak Cable Bhd is selling a helicopter for RM35.18 million to partially pay off its debts.

The group said its wholly-owned subsidiary Aerial Power Lines Sdn Bhd (APL) — which is involved in aerial power lines operation and rental management of helicopters — has inked an agreement to sell the Makila 2A1 helicopter to Singapore-based helicopter distributor Rotortrade Services Pte Ltd.

Sarawak Cable sells helicopter for RM35.1m to pare down debts

With Malaysia’s 5G outdoor coverage having reached the 80% target for coverage of populated areas (CoPA) at the end of 2023 and after the signing of the share subscription agreements (SSAs) by five mobile network operators (MNOs) on Dec 1, 2023, what’s next for the next stage of 5G deployment in Malaysia?

What’s next for 5G deployment in Malaysia?

(April 23): Tesla said it will lay off 6,020 employees in Texas and California ahead of its quarterly results on Tuesday when CEO Elon Musk is expected to outline the electric-vehicle maker's strategy to combat slowing demand and falling margins.

Last week, Tesla announced&nbs...

Tesla to cut more than 6,000 jobs in Texas, California, notices show

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Najib's 1MDB-Tanore trial live reporting (April 24)

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.

Meta Bright lands solar supply deal after forming JV company with Doople

Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.

NationGate may extend upward trajectory, says Rakuten Trade 

RHB Retail Research said Censof Holdings Bhd is observing a technical breakout after climbing above the 26.5 sen immediate resistance on surging trading volume.

Censof observing technical breakout, says RHB Retail Research 

RHB Retail Research said YBS International Bhd is set to resume its uptrend after climbing above the 80.5 sen immediate resistance, surpassing the 21-day simple moving average line.

YBS International set to resume uptrend, says RHB Retail Research 

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

MORNING CALL: 24/4/24

<p>The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.</p>




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


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

<p>The fatal collision between two Royal Malaysian Navy helicopters that killed 10 personnel abroad could be due to a failure in the critical points of the aircraft structure, aviation expert Assoc Prof Maj Dr Mohd Harridon Mohamed Suffian said.</p>


Critical point failure could’ve led to fatal Lumut chopper crash, says expert

<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%

<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>


Downed HOM chopper used for the first time in flyby, says defence minister 

<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>


Sarawak eyeing partnership with UK companies to boost semicon capabilities

<p>US 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>


Wall Street closes higher as investors digest earnings, megacap outlook

<p>Tesla Inc is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales.</p>


Tesla to accelerate launch of cheaper cars after sales miss

<p>Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the US megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.</p>


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

<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>


Helicopter tragedy: Victims’ post-mortems expected to be completed on April 24 afternoon

<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>


Wall Street gains on bright earnings, megacaps' support

<p>Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.</p>


<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>


M&A activities hit a low in 2023, pickup expected this year

<p>RHB Retail Research said Censof Holdings Bhd is observing a technical breakout after climbing above the 26.5 sen immediate resistance on surging trading volume.</p>


<p>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 decentralised system — an effort he’s championed since 2021.</p>


Jack Dorsey’s block finishes development of Bitcoin mining chip

<p>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.</p>


<p>International Business Machines Corp (IBM) is in advanced talks to acquire software company HashiCorp Inc, according to people with knowledge of the matter.</p>


IBM is in advanced talks to acquire software provider HashiCorp

<p>KOTA BHARU (April 23): The man involved in&nbsp;the shooting incident at the Kuala Lumpur International Airport (KLIA) in Sepang on April 14 will be charged in a&nbsp;Kota Bharu court on Wednesday (April 24), according to the police.</p>


KLIA shooting suspect to be charged in Kota Bharu on Wednesday

<p>Malaysia's education system must be synonymous with the development of the country, said Higher Education Minister Datuk Seri Zambry Abd Kadir.</p>


Zambry: Education system must be synonymous with country’s development

<p>RHB Retail Research said YBS International Bhd is set to resume its uptrend after climbing above the 80.5 sen immediate resistance, surpassing the 21-day simple moving average line.</p>
