Man proposes god disposes

- A + A KUALA LUMPUR (Aug 17): PMB Technology Bhd's subsidiary PMB Land (Sg Besi) Sdn Bhd has proposed to sell land in Kuala Lumpur for RM37 million and use the proceeds to repay a loan and for working capital. The disposal of the freehold land, measuring 6,658 square metres, is part of the company's plans to streamline its operations by focusing on its core business of aluminium smelting and channelling the proceeds towards its daily operating activities, it said in a filing with Bursa Malaysia. PMB Technology will use RM21 million of the proceeds to settle bridging loan within six months, RM14.45 million as its working capital within 12 months, and RM1.55 million to defray expenses incurred from the sale. "The proposed disposal is expected to contribute a net gain of approximately RM1.58 million to the group, of which shall increase the group's earnings per share for the financial year ending Dec 31, 2022," it said. PMB Technology expects to complete the … [Read more...] about PMB Technology unit to dispose of KL land for RM37 mil to repay loan, raise working capital

Former president of Kiehl’s Chris Salgardo dedicated 18 years of his career to leading the New York-based brand to becoming one of the best-selling beauty brands in history. Today, more than two years after leaving Kiehl’s, Salgardo launches Atwater , a men’s grooming range named after his father’s hometown in California. At launch, Atwater will comprise of 10 products—ranging from cleanser to exfoliant to moisturizer—and will be available via direct-to-consumer channels as well as in Nordstrom store locations in the United States. advertisement advertisement Atwater is the latest beauty brand to launch in recent memory that’s founded by industry veterans with decades of experience and institutional knowledge at their disposal—legendary makeup artist Bobbi Brown brought Jones Road to market the moment her 25-year non-compete lifted in 2020, and former Estee Lauder VP Chaz Giles debuted personalized skin-care platform Revea last year. … [Read more...] about Former Kiehl’s president Chris Salgardo launches Atwater, a grooming brand for men

Chamath Palihapitiya - A + A NEW YORK (Aug 17): The news came with little fanfare. It was late on a sleepy summer afternoon last week, and few on Wall Street even seemed to notice the pair of filings when they hit the Securities and Exchange Commission's (SEC) website. In terse, boilerplate language, the documents stated that two special-purpose acquisition companies (SPACs) launched by Chamath Palihapitiya needed to push back the deadlines they had set to make acquisitions. Palihapitiya was in no mood to trumpet the news. There were no tweets, no interviews, none of the braggadocio that came with so many of his big SPAC deals, back when the market was the hot new thing in finance, a sure-fire, money-minting machine, and Palihapitiya was its undisputed king. But if those euphoric moments two years ago represented the peak of SPAC frenzy — a phenomenon created out of the same ingredients (unprecedented monetary and fiscal stimulus) that gave us meme stocks and … [Read more...] about US SPAC king goes silent with his empire shrivelling