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June 19, 2018 2:12 PM Pentagon to set up ‘Space Force’

WASHINGTON: US President Donald Trump on Monday said he was ordering the creation of a sixth branch of the military to focus on space, a move critics said could harm the Air Force. "It is not enough to merely have an American presence in space. We must have American dominance in space," Trump said before a meeting of his National Space Council. "We are going 6

June 19, 2018 12:54 PM Tokio Marine to buy two SE Asian insurers

TOKYO: Tokio Marine Holdings said today it has agreed to acquire two insurance companies in Southeast Asia from Insurance Australia Group for ¥42.8 billion (RM1.5 billion) to bolster its operations in a fast-growing market. The Japanese insurance company will take a 98.6% stake in Safety Insurance Public in Thailand and an 80% stake in PT Asuransi Parolamas 5

June 14, 2018 9:21 AM Hap Seng Plantations scraps buyout of Kretam

PETALING JAYA: Hap Seng Plantations Holdings Bhd has terminated its buyout of Kretam Holdings Bhd as the due diligence results of Kretam were unsatisfactory and unacceptable. "Accordingly, the company has exercised its rights pursuant to Clause 8.4 to terminate the SSAs (share sale agreements) with immediate effect, with which the company will not extend 9

June 12, 2018 12:06 PM Media Prima takes control of Vocket Media for RM2.6 million

PETALING JAYA: Media Prima Bhd is acquiring a 52% stake in Vocket Media Sdn Bhd for RM2.6 million cash to expand its digital business. The group said in a filing with the stock exchange that its indirect wholly owned subsidiary Rev Asia Holdings Sdn Bhd had on June 12 entered into a conditional share sale purchase agreement with Jaffa Sany Mohd Ariffin 4

June 12, 2018 5:32 AM Ivanka Trump, Jared Kushner made US$82m last year: Reports

WASHINGTON: President Donald Trump's daughter and son in law made at least US$82 million (RM327 million) in outside income while serving as senior White House advisers last year thanks to investment deals from companies they had previously led, news reports said Monday. Ivanka Trump reported US$3.9 million (RM15 million) from her stake in the Trump International 9

June 7, 2018 1:31 PM CCM gets US$20m financing facility

PETALING JAYA: CCM Duopharma Biotech Bhd has secured US$20 million (RM79.4 million) financing from Oversea-Chinese Banking Corporation (Labuan Branch). It told Bursa Malaysia that the revolving credit-i Murabahah will be used to fund the RM59.16 million acquisition of an 8.39% stake in PanGen Biotech Inc from Chemical Company of Malaysia Bhd. “Apart 7

June 7, 2018 1:02 PM Straits Inter Logistics to acquire 55% of peer for RM35.75m

PETALING JAYA: Straits Inter Logistics Bhd plans to acquire a 55% stake in oil bunkering services company Tumpuan Megah Development Sdn Bhd for RM35.75 million to expand its business. In a filing with Bursa Malaysia today, Straits Inter said it had entered into a conditional share sale agreement with the vendor, Raja Ismail Raja Mohamed. Straits Inter 6

May 24, 2018 5:42 AM UMW says no to takeover price revision for MBM Resources

SHAH ALAM: UMW Holdings Bhd has no intention to raise its offer price for MBM Resources Bhd, which has stood firm onnot accepting the takeover deal at the current pricing. "We've extended the offer period. It's up to them to evaluate whether to sell or not. We still stick to the position (of not raising the offer price), until a time where it is suitable 5

May 15, 2018 1:28 PM Ewein raises stake in Ewein Zenith to 89%

PETALING JAYA: Ewein Bhd is acquiring a further 16% equity interest in Ewein Zenith Sdn Bhd for RM160,000 cash, which will increase its stake in the company from 73% to 89%. In a filing with Bursa Malaysia today, Ewein’s wholly owned subsidiary Ewein Land Sdn Bhd said it had entered into a share sale agreement with Consortium Zenith Construction Sdn Bhd for the proposed 11

May 14, 2018 1:19 PM FGV disposes of non-core chemical firm for RM145m

PETALING JAYA: Felda Global Ventures Holdings Bhd (FGV) is disposing of its 30% stake in Taiko Clay Chemicals Sdn Bhd for RM145 million, as part of the group’s efforts to dispose of non-core businesses. FGV told Bursa Malaysia that its 72%-owned subsidiary Felda Palm Industries Sdn Bhd, which in turn a wholly owned subsidiary of FGV, yesterday entered 9