<div class=newsTextDataWrapInner>KUALA LUMPUR (Dec 5): Southern Steel Bhd has fixed the conversion price of its five-year 5% redeemable convertible unsecured loan stocks (RCULS) at RM1.05 each. 
 
The conversion price of RM1.05 represents a discount of 27 sen or 20.45% to the five-day volume-weighted average market price, and a discount of 18 sen or 14.63% to the theoretical ex-rights price of RM1.23. 
 
Southern Steel is undertaking a rights issue which entails an issuance of RM209.7 million nominal value of RCULS. This will be on the basis of one RM1 RCULS for every two shares held. 
 
"The conversion price will provide all existing shareholders with an attractive opportunity to further increase their equity participation in the company at a discount to the prevailing market price of the Southern Steel shares," it said in a filing with Bursa Malaysia today. 
 
Shares in Southern Steel closed down 2 sen or 1.52% at RM1.30 today, giving it a market capitalisation of RM545.24 million. 
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KUALA LUMPUR (Dec 5): Southern Steel Bhd has fixed the conversion price of its five-year 5% redeemable convertible unsecured loan stocks (RCULS) at RM1.05 each.

The conversion price of RM1.05 represents a discount of 27 sen or 20.45% to the five-day volume-weighted average market p...

Southern Steel RCULS fixed at RM1.05 each

The High Court on Tuesday set a three-day trial in January 2026 for the defamation suit filed by former culture, arts, and tourism minister Tan Sri Abdul Kadir Sheikh Fadzir against businessman Datuk Seri Aliff Syukri Kamaruzaman over defamatory statements involving tens of millions of ringgit in investment debts.

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Iran’s unprecedented attack on Israel and the prospect of escalating hostilities have threatened to embroil Jordan, a key Western ally and a country regarded by Gulf states as pivotal to their own security.

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The Sik district is being targeted to become a hub for ‘huma’ (hill) paddy cultivation in Kedah, as an alternative measure to increase local rice supply.

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Kossan Rubber Industries Bhd has proposed a final dividend of two sen per share for the financial year ended Dec 31, 2023 (FY2023).

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KUALA LUMPUR (April 16): Bursa Malaysia Bhd is collaborating with the UK government’s Mobilising Institutional Capital Through Listed Product Structures (Mobilist) programme to help address the funding gap needed in Malaysia to achieve the United Nations’ (UN) Sustainable Development Goals (SDGs) by 2030.

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The collective wealth of tycoons listed on the 2024 Forbes Malaysia Rich List increased by a modest 2% to US$83.4 billion (RM398.8 billion), according to Forbes Asia.

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E-government services providers MyEG Services Bhd and HeiTech Padu Bhd have formed a partnership to collaborate on IT projects in Malaysia.

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Analysts are positive on Malaysia’s pilot green power exports to Singapore using existing infrastructure in both countries, following establishment of the platform enabling cross-border trading of green electricity, the Energy Exchange Malaysia (Enegem).

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CIMB Group Holdings Bhd, Malaysia’s second-biggest banking group by assets, said on Tuesday its chief executive Datuk Abdul Rahman Ahmad will step down on June 30.

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Alliance Bank Malaysia Bhd’s (ABMB) net profit is expected to jump by 37.3% year-on-year (y-o-y) to RM179 million for the fourth quarter ended March 31, 2024 (4QFY2024), according to AmInvestment Bank Research.

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The Ministry of Transport clarified on Tuesday that the higher contract value of RM190.01 million awarded to HeiTech Padu Bhd for Road Transport Department (JPJ) services was only due to a longer extended contract duration.

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The automotive industry is not exactly the place one would want to be in the next few years.

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Transport Minister Anthony Loke Siew Fook said his ministry has no objection to MMC Corp Bhd divesting a stake in MMC Port Holdings Sdn Bhd, including to foreign entities, as long as it does not contravene the government's policy that requires 51% ownership of major national assets to remain with local companies.

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Carlo Rino Group Bhd has filed for an initial public offering (IPO) that would raise more funds for the apparel company as part of its listing transfer to the ACE Market from the LEAP Market.

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Former prime minister Tan Sri Muhyiddin Yassin has requested for a bench of five Court of Appeal (COA) judges to hear his review against the court’s own decision to reinstate abuse of power charges involving RM232.5 million against him.

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Singapore’s Prime Minister Lee Hsien Loong is stepping down on May 15 after two decades in office. Lee, 72, will hand the reins over to his deputy Lawrence Wong, 51, in a widely-telegraphed transition.

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China said it believed Iran could "handle the situation well and spare the region further turmoil" while safeguarding its sovereignty and dignity, referring to an attack on Iran's embassy in Syria and its retaliatory strike over the weekend.

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Bursa Malaysia ended the morning session lower on Tuesday, in tandem with the weaker regional performance due to a broad sell-off on Wall Street overnight, said an analyst. &nbsp;

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KTI Landmark Bhd (KTI) has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia Securities Bhd.

In a statement on Tuesday, the Sabah-based integrated property developer said the initial public offering (IPO) comprises a public issue of 160 million new shares and an offer for sale of 45 million existing shares, representing 20% and 5.6% of the enlarged share capital of KTI respectively.

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European Commission President Ursula von der Leyen is unleashing a barrage of trade restrictions against China as she seeks to follow through on a pledge to make the EU a more relevant political player on the global stage.

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EP Manufacturing Bhd's (EPMB) shares climbed on Tuesday and marked their best day in 10 months after the Shah-Alam based auto parts maker signed an assembly deal with a Chinese carmaker.

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Outsourced semiconductor assembly and testing (OSAT) player Globetronics Technology Bhd is in the final stages of discussion with two prospective clients interested in leveraging advanced packaging technology.

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Gold is set to reach US$3,000 (RM14,381.71) an ounce over the next six to 18 months on increasing investor inflows amid expectations that the Federal Reserve will eventually cut interest rates, Citigroup Inc said, adding to a roll call of Wall Street banks that have raised forecasts.

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China’s rapidly expanding petrochemicals industry is making life increasingly difficult for producers in Asia’s next-biggest exporter of the building blocks for making plastics. 
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Asia’s largest economy used to be the major market for South Korean companies like LG Chem Ltd and Lotte Chemical Corp. But the exporters of the chemicals used to make everything from nylon to disposable bottles and car interiors are now being forced to downsize their operations after a frenzy of petchem-plant building in China over the last few years created a supply glut. &nbsp;