Author name: admin

Kumpulan Jetson Bhd is disposing of its adhesives and healthcare trading businesses for RM15.8 million as part of its plan to streamline operations and focus on its core automotive anti-vibration parts business. In a filing with Bursa Malaysia, the group said it has signed a share sale agreement with THH Electrical Engineering Sdn Bhd to sell its entire stake in wholly-owned subsidiary GRP Holdings Sdn Bhd. GRP Holdings owns businesses involved in adhesives, sealants, pharmaceutical products and medical devices. Kumpulan Jetson said the disposal is part of its efforts to become a more focused, agile and financially resilient company. The latest deal comes after an earlier RM14.8 million sale of GRP Sdn Bhd was terminated in March after conditions were not met. The group also cited a fire incident that damaged key factory assets and affected the earlier transaction. Under the new sale, RM3 million will be paid in cash, while the remaining RM12.8 million will be settled through the assumption of debts and intercompany loans. The cash proceeds will be used for working capital, including raw materials, production costs, staff expenses, utilities and logistics for its manufacturing units.

MTR Corp Ltd has raised HK$18.9 billion (US$2.4 billion or RM9.5 billion) through its first-ever public Hong Kong dollar bond issuance, as more borrowers tap into the city’s funding market. The Hong Kong government–backed public transport operator and property developer priced five-, 10- and 30-year green notes to finance or refinance eligible projects, according to a person familiar with the matter. The combined order book exceeded HK$60 billion. Historically, most Hong Kong dollar bond issuances have been private placements or unlisted deals, and MTR’s previous issuances in the currency were also unlisted. However, more issuers have recently turned to the public bond market as demand for Hong Kong dollar assets rises, supported by its perceived safe-haven status amid global geopolitical tensions. According to data compiled by Bloomberg, corporate and government issuers have raised HK$34.1 billion from publicly announced Hong Kong dollar bond deals so far this year, a record for the period. Market participants said the shift is being driven by lower funding costs compared to US dollar markets and strong investor demand for high-quality assets. Analysts noted that Hong Kong dollar investments have traditionally been dominated by private placements and certificates of deposit, which tend to be held to maturity. A rise in high-quality issuers could improve market liquidity and broaden investor participation. Recent issuances in the market include bonds from Germany’s KfW development bank, the Asian Infrastructure Investment Bank, and the African Development Bank.

Malaysia has introduced a RM5 billion loan facility to assist small and medium enterprises (SMEs) and other affected sectors facing pressure from the global energy crisis. Prime Minister Datuk Seri Anwar Ibrahim announced the special relief facility after chairing a roundtable discussion with financial institutions on Tuesday. He said further details of the financing programme will be announced by Bank Negara Malaysia (BNM) soon. The new loan facility, together with an additional RM5 billion in financing guarantees under Syarikat Jaminan Pembiayaan Perniagaan (SJPP), forms part of broader government efforts to support micro, small and medium enterprises (MSMEs). Anwar said the total SJPP guarantee allocation has now been increased to RM10 billion. Guarantee coverage has also been raised from 70% to 80%, while the repayment period has been extended from seven years to 10 years. He said the measures are aimed at reducing the impact of global uncertainties, including geopolitical tensions, while supporting continued economic growth. Priority will be given to SMEs in sectors such as logistics, agriculture and construction. Support will also be extended to micro-entrepreneurs, including small traders, farmers and food operators. Anwar also called for faster approval processes under existing financing schemes, including SJPP, to ensure businesses receive assistance without delay. Earlier this week, the government also announced a one-year postponement of e-invoicing implementation for businesses with annual sales between RM1 million and RM5 million, extending the deadline to Dec 31, 2027. In addition, temporary import duty and sales tax exemptions will be given until year-end for Malaysian goods reimported due to supply chain disruptions linked to the Middle East conflict. Separately, Anwar said the government will soon unveil additional measures to improve job opportunities, especially for graduates and job seekers. He added that Malaysia’s economic fundamentals remain strong, with growth projected at 4% to 5% this year despite global challenges. He also highlighted continued investment momentum in sectors such as electrical and electronics (E&E), data centres and artificial intelligence (AI).

A unit of Sinopec has sold 8.5 million Hong Kong-listed shares in Chinese battery giant CATL for about US$770 million, according to a term sheet released on Wednesday. The move allows Sinopec to capitalise on CATL’s strong stock market performance. The shares were sold through an accelerated bookbuild at HK$708 each, representing a discount of about 3.8% from CATL’s Tuesday closing price of HK$736. Goldman Sachs acted as the sole placing agent for the transaction. Following the sale, Sinopec (Hong Kong) also agreed to a 90-day lock-up period on its remaining CATL stake. Based on market data, Sinopec previously held about a 9.45% stake in CATL’s Hong Kong share capital. The 8.5 million shares sold account for around 5.5% of CATL’s Hong Kong-listed shares in issue. The selldown comes after CATL’s Hong Kong-listed stock nearly tripled from its May 2025 listing price of HK$263. Shares have also risen 46.9% so far this year, giving the company a market capitalisation of around US$304 billion. CATL is one of the world’s largest electric vehicle battery manufacturers, supplying major automakers such as Tesla, BMW, Volkswagen, Xiaomi and Nio. The company raised about US$4.6 billion in its Hong Kong listing, the largest IPO globally that year, with most proceeds earmarked for a new battery plant in Hungary as part of its international expansion plans. Earlier this year, CATL reported fourth-quarter and full-year 2025 profits that exceeded market expectations. Reuters also reported that the company is exploring another Hong Kong equity fundraising exercise that could raise around US$5 billion, although details remain under review.