<div class=newsTextDataWrapInner><p>KUALA LUMPUR (April 25): The Edge Communications Sdn Bhd and its owner Tan Sri Tong Kooi Ong have surfaced as substantial shareholders of Star Media Group Bhd&nbsp;—&nbsp;which publishes the country’s largest English daily <em>The Star</em>.</p></div>

<div class=newsTextDataWrapInner><p>Star Media’s filings with Bursa Malaysia show that Tong owns a direct interest of 1.84 million shares or 0.25% stake, as well as 37.5 million shares or 5.17% indirect interest through The Edge Communications.</p></div>

<div class=newsTextDataWrapInner><p>With a total of 5.42% stake, <em>The Edge </em>and its owner Tong would be substantial shareholders in the Main Market-listed Star Media. Malaysian Chinese Association (MCA) is the controlling shareholder holding 45.4% equity interest.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In an internal memo to staff, Tong said the acquisition is purely an investment.</p></div>

<div class=newsTextDataWrapInner><p>“This is an investment in a company whose share price and capitalisation have for several years been well below the cash it has, and the value of its property assets. It has no debt and is clearly undervalued,” he said.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Star Media, which gained 57% this month alone, closed five sen or 11% higher at 51 sen on Tuesday (April 25), giving it a market capitalisation of RM376.67 million.</p></div>


KUALA LUMPUR (April 25): The Edge Communications Sdn Bhd and its owner Tan Sri Tong Kooi Ong have surfaced as substantial shareholders of Star Media Group Bhd — which publishes the country’s largest English daily The Star.

Star Media’s filings with Bursa Malaysia show that Tong owns a direct interest of 1.84 million shares or 0.25% stake, as well as 37.5 million shares or 5.17% indirect interest through The Edge Communications.

The Edge owner buys 5.42% stake in Star Media

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KUALA LUMPUR (April 25): Agricore CS Holdings Bhd, a food ingredients supplier, has obtained approval from Bursa Malaysia Securities Bhd to list on its ACE Market.

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Investors are looking for the next policy domino to fall in Asia amid an escalating campaign against a resurgent dollar, after Indonesia used a surprise interest rate hike to defend the rupiah.

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Wireless carrier Axiata Group Bhd and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said.

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(April 24): Some of the world's largest solar equipment makers asked President Joe Biden's administration on Wednesday to impose tariffs on panels and cells from four Asian countries, to protect billions of dollars in investments in US manufacturing.

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Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms hammered tech shares, while the yen's slump past 155 per dollar for the first time since 1990 raised the spectre of intervention from Tokyo.

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Digital Nasional Bhd (DNB), the state-owned company in charge of the 5G network infrastructure rollout, on Thursday named five new board members, comprising senior leaders from the telecom and technology industries.

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<p>KUALA LUMPUR (April 25): YTL Corp Bhd, whose share price has surged over 42% year to date, “remains undervalued”, though there is a strong potential upside for the utilities-to-resorts conglomerate, said Hong Leong Investment Bank Bhd (HLIB).</p>


<p>KUALA LUMPUR (April 25): Mega First Corp Bhd shares have likely peaked following a recent rally to new all-time highs, and investors should stop buying the stock now, Maybank Investment Bank (Maybank IB) said and downgraded the stock to ‘hold’.</p>

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<p>Benchmark S&amp;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.</p>


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<p>Singapore's Keppel said on Thursday its first-quarter net profit excluding the effects of legacy offshore and marine assets was higher, boosted by strong performance in the global asset manager's infrastructure and connectivity segments.</p>


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<p>RHB Retail Research said Naim Holdings Bhd is likely to resume its uptrend after the recent consolidation above the 97.5 sen breakout level.</p>


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<p>RHB Retail Research said NationGate Holdings Bhd is observing a technical breakout after climbing above the RM1.70 immediate resistance on surging trading volume.</p>


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<p>Wireless carrier Axiata Group Bhd and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said.</p>


<p>Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms hammered tech shares, while the yen's slump past 155 per dollar for the first time since 1990 raised the spectre of intervention from Tokyo.</p>


<p>Synergy House Bhd may trend higher after breaking out from its one-week bullish rectangular pattern two sessions ago, to a new all-time high.</p>


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<p>Visa Inc recently reported impressive fiscal second quarter 2024 results, with net revenue increasing by 10% and payments volume growing by 8%.</p>


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<p>Venice becomes the first city in the world on Thursday to introduce a payment system for tourists in an effort to thin the crowds that throng the canals during the peak holiday season.</p>


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<p>Mark Zuckerberg is asking for investors to stay patient. Again.</p>

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<p>KUALA LUMPUR (April 25): Agricore CS Holdings Bhd, a food ingredients supplier, has obtained approval from Bursa Malaysia Securities Bhd to list on its ACE Market.</p>


<p>(April 24): Some of the world's largest solar equipment makers asked President Joe Biden's administration on Wednesday to impose tariffs on panels and cells from four Asian countries, to protect billions of dollars in investments in US manufacturing.</p>
