Tuesday, April 11th, 2017

 

Wall St extends losses as geopolitical risks mount

Wall St extends losses as geopolitical risks mount

NEW YORK (April 11): US stocks extended losses on Tuesday, setting up for their worst day in three weeks in a broad decline as mounting geopolitical tensions drove investors to safe-haven assets.

The White House said on Monday President Donald Trump was open to authorizing additional strikes on Syria if its government uses chemical weapons again or deploys barrel bombs, while North Korea warned of a nuclear attack on the United States if provoked as a US Navy strike group moved towards the western Pacific.

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James Tee has been appointed MD and CEO of Medini Iskandar Malaysia

James Tee has been appointed MD and CEO of Medini Iskandar Malaysia

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James Tee has been appointed MD and CEO of Medini Iskandar Malaysia’s

James Tee has been appointed MD and CEO of Medini Iskandar Malaysia's

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Wall Street drops as geopolitical risks weigh on sentiment

NEW YORK, April 11 ― US stocks edged lower today as rising geopolitical tensions in the Middle East and the Korean peninsula pushed investors to safe-haven assets such as gold. The White House said yesterday President Donald Trump was open to…


Siemens, Bombardier in talks to combine train units

Siemens, Bombardier in talks to combine train units

(April 11): Siemens AG and Bombardier Inc are in talks to combine their train operations, people familiar with the matter said, potentially creating a business that could better compete with rising competition from China.

The proposed joint venture, which could be worth at least €10 billion (US$10.6 billion), would merge the firms’ train-making and signalling activities, said the people, asking not to be identified because the discussions are private. A deal could come by the middle of the year, one of the people said.

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Ire-Tex’s substantial shareholder calls for EGM to remove seven directors

Ire-Tex's substantial shareholder calls for EGM to remove seven directors

KUALA LUMPUR (April 11): One of Penang-based Ire-Tex Corp Bhd’s substantial shareholders is calling for an extraordinary general meeting (EGM) on April 27 for the removal of seven directors and the  appointment of new board members.

Ire-Tex said it received a notice today from Singapore-based Elite Cosmo Group  Ltd, which holds a 14.29% stake in the group, to hold the EGM at The Maple Suite in Changkat Raja Chulan here for shareholders to consider nine resolutions.

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OFF-MARKET DEAL: Enra sees 4.5% stake traded off-market for RM13.8m

OFF-MARKET DEAL: Enra sees 4.5% stake traded off-market for RM13.8m

KUALA LUMPUR (April 11): Enra Group Bhd saw about six million of its shares, which represent a 4.5% stake in the company, being traded off-market today.

According to Bloomberg data, the trade was done in a single transaction at RM2.30 apiece — or RM13.8 million in all — which is at a discount of some 7% to its closing price today of RM2.78 a share.

Recently, Enra Group announced the proposed acquisition of a piece of 60-acre leasehold land in Labuan for RM7.57 million from a government agency.

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Cypark to bid for RM1b worth of projects in FY17

Cypark to bid for RM1b worth of projects in FY17

PETALING JAYA (April 11): Cypark Resources Bhd expects to tender for RM1 billion worth of tenders in environmental engineering, waste management, green techology and renewable energy in Malaysia and Singapore during its current financial year.

Chief executive officer Datuk Daud Ahmad said this would bring the green and clean technology solutions provider’s total tender book to around RM3 billion for the year ending Oct 31, 2017 (FY17) against RM2 billion in FY16.

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Hong Kong slaps property tax on home buyers to close loophole

HONG KONG, April 11 ― The Hong Kong government said today first-time home buyers purchasing more than one flat at the same time would be subject to a 15 per cent stamp duty, the latest bid to cool property prices in one of the world’s most…


Singapore fund GIC led Q1 2017 sovereign investor deals

LONDON, April 11 ― Singapore’s US$344 billion (RM1.5 trillion) GIC led the sovereign investor pack in the first three months of 2017, sealing two of the biggest investments of the quarter. Wealth funds and state pension funds participated in…