<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 10): Lee Thiam Wah — the founder of retail chain 99 Speedmart — has emerged as the substantial shareholder of Alliance Bank Malaysia Bhd, with a 5.076% stake.</p></div>

<div class=newsTextDataWrapInner><p>A filing on Friday (Feb 10) shows that Lee’s company Global Success Network Sdn Bhd acquired 1.38 million shares or a 0.089% stake on the open market on Thursday (Feb 9), bumping his stake in the bank to 5.076%.</p></div>

<div class=newsTextDataWrapInner><p>Note that Lee is also the third-largest shareholder of Alliance Bank, after Vertical Theme Sdn Bhd (29.06%) and the Employees Provident Fund (EPF) (10.5%).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>A check with the Companies Commission Malaysia (SSM) shows that Vertical Theme is 51%-owned by Langkah Bahagia Sdn Bhd, while the remaining 49% is held by Duxton Investments Pte Ltd, whose ultimate shareholder is Singapore’s state-owned Temasek Holdings Ltd.</p></div>

<div class=newsTextDataWrapInner><p>Langkah Bahagia is 33.68%-owned by Ong Tiong Sin, while both Singapore hotelier Ong Beng Seng and corporate adviser Seow Lun Hoo hold 33.16% each.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Alliance Bank finished one sen or 0.29% up at RM3.48, giving the bank a market capitalisation of RM5.39 billion.</p></div>


Lee Thiam Wah — the founder of retail chain 99 Speedmart — has emerged as the substantial shareholder of Alliance Bank Malaysia Bhd, with a 5.076% stake.

99 Speedmart founder emerges as Alliance Bank’s substantial shareholder

Pakatan Harapan (PH) candidate Pang Sock Tao will announce the party’s Kuala Kubu Baharu (KKB) by-election manifesto this Friday.

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Copper’s surge to US$10,000 (RM46,650) a tonne just days after the bombshell news that BHP Group is trying to buy Anglo American plc is highlighting a core disconnect at the heart of the industry: miners just aren’t building enough mines.

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All routes along the Malaysia-Thailand border area in the districts of Tak Bai, Sungai Golok, and Weng have been temporarily closed following a bomb explosion and shooting incident that injured four police officers.

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<p>Shares in LPI Capital Bhd snapped a three-day losing streak on Monday, after the general insurer reported a 37% net profit surge in the first quarter, thanks largely to sharply lower net expenses from reinsurance contracts held and higher investment income.</p>


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Supercomnet Technologies, MyEG, BP Plastics, LGMS, Turiya

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<p>Engineering services firm Kawan Renergy Bhd, en route to list on Bursa Malaysia's ACE Market next month, said on Monday it will pass higher cost from escalating steel prices to its customers.</p>


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<p>Gadang Holdings Bhd has called off its planned acquisition of a 21.08-acre land in Kwasa Damansara — known as R3-1 — for RM114.78 million from Kwasa Development (3) Sdn Bhd (KD3), to be developed into a residential project.</p>


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<p>Financial details of Shell's vast oil and gas trading business are some of the company's closest-held secrets. Documents in a lawsuit filed by a former employee, however, revealed its US crude trading regularly earns around US$1 billion (RM4.77 billion) every year.</p>


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