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- A + A HONG KONG/JOHANNESBURG (June 27): Prosus NV is planning to sell more of its US$134 billion stake in Chinese internet giant Tencent Holdings Ltd to finance a buyback programme, reversing a pledge to hold onto the full shareholding. Tencent declined in Hong Kong on Monday as investors pondered the extent to which Prosus, the Chinese company’s biggest shareholder, will unload its stock. The shares fell as much as 2.5% and traded 1.6% lower at the close. “We will keep selling Tencent shares to buy back our own, it’s open-ended and an unlimited programme,” Prosus Chief Executive Officer Bob Van Dijk said in an interview. “It’s actually a small part of Tencent daily traded volumes — it should be maximum between 3% to 5%.” The move represents a change of heart by Dutch e-commerce giant Prosus — majority owned by South Africa’s Naspers Ltd — which said after its last sale in April 2021 it wouldn’t offload more shares for three years. The company, spun off from … [Read more...] about Tencent backer Prosus to cut US$134 bil stake to buy stock

This article first appeared in The Edge Financial Daily, on April 3, 2020 . - A + A Minetech Resources Bhd (-ve) TRADING of shares in Minetech Resources Bhd (fundamental: 0.95/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the sixth time this year. The last time the counter triggered our momentum algorithm was Wednesday. The engineering services company’s stock closed 10.71% or 1.5 sen higher at 15.5 sen apiece, after 77.38 million shares were traded — making it the 10th most actively traded stock on Bursa Malaysia yesterday. This trading volume is about 16 times the counter’s 200-day average of 4.91 million shares. The stock has been climbing in the past four days. On Tuesday, the company announced that Serba Dinamik Holdings Bhd’s co-founder Datuk Awang Daud Awang Putera had been appointed its executive chairman, replacing Chin Kim Sang, who had been redesignated as the company’s executive director. Awang Daud first … [Read more...] about Stock With Momentum: Minetech Resources

This article first appeared in The Edge Financial Daily, on April 16, 2020 . - A + A Rubberex Corp (M) Bhd (+ve) TRADING of shares in Rubberex Corp (M) Bhd (fundamental: 1.8/3, valuation: 0.6/3) triggered our momentum algorithm yesterday for the ninth time this year. The company’s share price closed 4.85% or four sen higher at 86.5 sen. Some 10.42 million shares were traded, over seven times the counter’s 200-day average trading volume of 1.44 million shares. On Monday, the company said Med-Bumikar Mara Sdn Bhd had ceased to be its substantial shareholder after disposing of 67.31 million shares representing a 26.688% stake in the company via a direct business transaction. The stake was sold to Hextar Global Bhd’s non-independent executive director Datuk Ong Choo Meng, who then transferred it to Erpstar Inc Sdn Bhd, which Rubberex said emerged as its new substantial shareholder on the same day. Rubberex manufactures household and … [Read more...] about Stock With Momentum: Rubberex Corp

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A LAST week, CTOS Digital Bhd made a bold move to raise its stake in RAM Holdings Bhd (RAM), in which it already owns a 19.225% stake. This is the third acquisition that CTOS has undertaken within a year. CTOS, which bought into RAM shortly after it was listed in July last year, launched a general offer last week to buy out the remaining shares that it does not own in the credit rating agency (CRA) soon after it got the green light from the Securities Commission Malaysia (SC) to own more than 51%. CTOS has so far spent the bulk of the RM173.8 million raised from a private placement in March on mergers and acquisitions (M&A). RAM will be the first local CRA to have a controlling shareholder upon the completion of the takeover offer. Dollars and cents aside, the takeover bid has prompted some quarters to question whether the independence of RAM’s rating … [Read more...] about Making sense of CTOS’ venture into RAM

- A + A KUALA LUMPUR (June 27): Highway construction group MTD Capital Bhd has ceased to be a substantial sharelder in Reach Engery Bhd, after disposing of  a 10.36% stake in the oil and gas company. The stake, comprising 114 million shares, were sold in the open market on June 24, said Reach Energy in a bourse filing. MTD Capital, which was the second largest shareholder of Reach Energy, had emerged as a substantial shareholder in October 2016 after acquiring a 11.68% stake, comprising 117.87 million shares. Following the disposal, MTD Capital is left with a 0.05% stake or 595,690 shares in Reach Energy. Reach Energy shares settled five sen or 5.88% lower at 8 sen on Monday (June 27), giving the group a market capitalisation of RM82.84 million. S Kanagaraju … [Read more...] about MTD Capital disposes of 10.36% stake in Reach Energy

- A + A KUALA LUMPUR (June 27): Here is a brief look at some corporate announcements and news flow on Monday (June 27) which include Dagang NeXchange Bhd, MyNews Holdings Bhd, AirAsia X Bhd, Spritzer Bhd, Sapura Energy Bhd, Pertama Digital Bhd, Southern Cable Group Bhd, Tenaga Nasional Bhd and Reach Energy Bhd. Dagang NeXchange Bhd (DNeX) signed a memorandum of understanding with Saudi Arabia-based Ajlan & Bros Holding Group (Abilitii) to explore business synergy between the two companies. DNeX said the companies will look into business collaboration in technology, software products and platforms for facilitating trade, oil and gas production and trade, software development, system integration and consultation services. MyNews Holdings Bhd posted its ninth consecutive quarter in the red, with a net loss of RM10.22 million for the second quarter ended April 30, 2022, from RM10.32 million a year ago. The results came amid higher revenue, offset by higher cost … [Read more...] about DNeX, MyNews, AAX, Spritzer, Sapura Energy, Pertama Digital, Southern Cable, TNB, Reach Energy

Share to Twitter Share to Linkedin By Nathan Resnick Sending out a press release is a great way to get significant attention for your company. While the majority of journalists use press releases as a source for news, standing out in today’s digital environment can be difficult. Some news outlets receive hundreds of press releases in a single day—so it shouldn’t be surprising that 70% of journalists spend less than a minute reading each one. You don’t have much time to make an impression and get that coveted press coverage for your brand. Putting in some extra work to make sure the press release will be a smashing success before you send it out can make all the difference. What makes a great press release? 1. Your content is truly newsworthy This is the first big test: Is the topic of your press release actually newsworthy? Is it something that journalists—and the wider audience they serve—will care about? In many ways, … [Read more...] about 4 Signs Your Latest Press Release Will Be A Success