<div class=newsTextDataWrapInner>SINGAPORE (May 10): Oversea-Chinese Banking Corporation Ltd (OCBC) has announced a S$1.4 billion voluntary unconditional general offer for the 11.56% stake in Great Eastern Holdings (GEH) that it does not currently own.</div>

<div class=newsTextDataWrapInner>According to a Friday statement, this will strengthen OCBC’s business pillars of banking, wealth management and insurance, and optimise its capital to enhance shareholder returns.&nbsp;</div>

<div class=newsTextDataWrapInner>The offer price of S$25.60 represents a<a href="https://www.theedgesingapore.com/news/company-news/ocbc-makes-privatisation-bid-great-eastern-2560-offer-price?utm_source=WeekdayEDM&amp;utm_medium=email&amp;utm_campaign=FREE" target="_blank">...(click on link for full story on theedgesingapore.com)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>Read also: 
<a href="https://theedgemalaysia.com/node/711044" target="_blank">Singapore’s OCBC posts record 1Q profit, lifts margin guidance for 2024</a></div>

SINGAPORE (May 10): Oversea-Chinese Banking Corporation Ltd (OCBC) has announced a S$1.4 billion voluntary unconditional general offer for the 11.56% stake in Great Eastern Holdings (GEH) that it does not currently own.

Singapore’s OCBC makes privatisation bid for Great Eastern with S$25.60 offer price

Shares of Nvidia Corp, the chipmaker at the centre of an artificial intelligence (AI) boom, surged on Thursday after a bullish sales forecast showed that AI computing spending remains strong.

Nvidia stock surges as sales forecast delivers on AI hopes

US business activity accelerated in early May at the fastest pace in two years, largely reflecting stronger growth at service providers and accompanied by a pickup in inflation.

US business activity expands most in two years, prices pick up

Tobacco companies still actively target young people via social media, sports and music festivals and new, flavoured products, the World Health Organization (WHO) said on Thursday, accusing companies of trying to hook a new generation on nicotine.

Tobacco industry aims to hook new generation on vapes, WHO says

The man detained over the shooting of Robert Fico said he had wanted to hurt the Slovak prime minister because he disagreed with government policies and used a gun he had owned for more than 30 years, a court document released on Thursday showed.

Slovakia shooting suspect says he wanted to hurt Fico, not kill him

In today’s edition of Evening 5: 00:00 Sime Darby Property enters the data centre business02:05 Acquisitions kick in for Sime Darby’s 3Q earnings 03:52 Ongoing Starbucks boycott drags BFood to another red quarter 04:54 Public Bank loses case against house buyer 06:39 MSM reports second consecutive quarter of profit

EVENING 5: Sime Darby Property signs a RM2 bil data centre deal

EVENING 5: Five things you need to know today

The number of Americans filing new claims for unemployment benefits fell last week, pointing to underlying strength in the labour market that should continue to support the economy.

US weekly jobless claims fall further as labour market remains strong

China has invested more than RM19.4 billion, mainly in solar, steel and wood-based manufacturing projects in Sarawak, leading to the creation of more than 10,000 jobs for the local population and spin-offs for the local economy.

China’s investments in Sarawak reach RM19.4 bil, creating over 10,000 jobs — Abang Johari

Malayan Banking Bhd’s (KL:MAYBANK) digital banking platforms and debit card transactions were down for at least two hours from around 6pm on Thursday, according to customers who took their complaints to social media after being unable to access their accounts or conduct transactions.

Maybank banking app, website, debit card transactions down for two hours on Thursday

All 10 Malaysians, including a flight attendant, from Singapore Airlines (SIA) flight SQ321 are in stable condition, said Malaysia’s ambassador to Thailand Datuk Jojie Samuel.

All Malaysians on turbulence-hit Singapore Airlines flight in stable condition, says envoy

Public Bank Bhd (KL:PBBANK) has lost a case against a house buyer, who sued the bank for terminating a loan facility agreement after the first disbursement.

The court found that the bank failed to provide documents of purported falsified supporting documents and claims that the customer inflated his income, which had resulted in the facility and house purchase to be terminated.

Public Bank loses case against house buyer on failure to prove falsification of supporting documents

Sime Darby Property Bhd (KL:SIMEPROP) said on Thursday it will build and lease out a hyperscale data centre at its Elmina Business Park in a deal worth RM2 billion, marking the group’s entry into the data centre segment.

Sime Darby Property to build, lease out data centre in RM2 bil deal

Hartalega Holdings Bhd (KL:HARTA) may continue to grapple with massive industry oversupply that will limit earnings upside and further gains in its share price, analysts cautioned, even after the world’s second-largest glove maker by volume reported better-than-expected results.

Hartalega to face massive oversupply even after 4Q turnaround, say analysts

Shares of QES Group Bhd (KL:QES) rose to their highest in 15 months after Public Investment Bank started coverage of the automated test equipment company with an “outperform” rating, citing sharp earnings rebound and clean balance sheet.

QES Group rises to 15-month high after Public Investment Bank starts coverage

A former political secretary to ex-home minister Datuk Seri Hamzah Zainudin has claimed trial to two counts of receiving RM350,000 bribe from a company to obtain a tender in supplying infrastructure, communications systems and software to&nbsp;the police.

Hamzah Zainudin's former political secretary charged with graft

Sime Darby Bhd (KL:SIME), which assembles motor vehicles and sells heavy equipment, said on Thursday its net profit rose 41.7% for&nbsp;the third quarter from a year earlier, thanks to higher sales and income from newly acquired businesses.

Sime Darby's 3Q net profit rises 41.7%, flags tough markets in China, Australia

British newspapers had a field day mocking Prime Minister Rishi Sunak after he called for a snap election on July 4, with some typically wry and tongue-in-cheek headlines.

British tabloids take the mickey out of Sunak after calling for snap election, mainstream media stay sober

Gamuda Bhd’s (KL:GAMUDA) property arm Gamuda Land announced that Townsquare, the commercial project of Gamuda Cove township development located in Kuala Langat, has been fully taken up and is targeted for vacant possession in 4Q2024.

Gamuda Land's Townsquare in Gamuda Cove fully taken up

Chinese vehicle manufacturer Chery's Jaecoo is committed to enhancing its service network in Malaysia and has signed 30 dealers in the country.

Jaecoo signs 30 dealers to enhance service network in Malaysia

Zantat Holdings Bhd (KL:ZANTAT) posted a net profit of RM1.9 million,&nbsp;on the back of RM28.8 million in&nbsp;revenue, for the first quarter ended March 31, 2024 (1QFY2024), derived from the production of ground calcium carbonate.

Zantat posts 1Q net profit of RM1.9m, declares dividend of 1.5 sen

Malayan Banking Bhd’s (KL:MAYBANK) digital banking platforms and debit card transactions were down for at least two hours from around 6pm on Thursday, according to customers who took their complaints to social media after being unable to access their accounts or conduct transactions.

Malaysia's vibrant semiconductor industry bolsters its position as a reliable regional partner in manufacturing, trade and innovation, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar: Malaysia’s robust semicon industry reinforces country’s standing as a reliable regional partner 

Great Eastern Holdings Ltd&nbsp;appointed EY as an independent financial adviser for the S$1.4 billion (RM4.88 billion) offer from Oversea-Chinese Banking Corp (OCBC) to buy the remaining stake the lender does not currently own, according to people familiar with the matter.

Great Eastern taps EY to opine on OCBC’s S$1.4b offer — Bloomberg

Axis Real Estate Investment Trust (KL:AXREIT), which mainly manages offices and warehouses, said on Thursday it is acquiring two automotive service centres worth RM125 million.

Axis REIT to acquire two auto service centres for RM125m

theedgemalaysia.com highlighted four stocks with positive momentum and 12 stocks with negative momentum at Bursa Malaysia's noon break on Thursday. &nbsp;

SNS, L&P, YSPSAH, BHIC, Green Ocean, QES, Radiant Globaltech, Panda, Bursa, WTK, JCY, Country Heights, Kumpulan Fima, ARK, PTT, LB Aluminium

Capital Markets Malaysia (CMM) will be issuing specialised disclosure guidance for small- to mid-sized companies in five sectors involved in global supply chains, according to the Ministry of Finance (MOF).

CMM to issue specialised ESG disclosure guidance for SMEs in five sectors

The Royal Malaysian Customs Department is set to launch a new approach known as Compliance Verification Audit (AViP) in July this year to promote self-compliance and encourage voluntary disclosure.

To reduce the risk of revenue leakages, the Customs Department changed its strategy from detecting leakages to preventing leakages this year, Customs Compliance Management Division director Almirulita Mohd Yusoff said in her opening speech at a seminar.

Customs Department to launch Compliance Verification Audit in July

The son of the Perlis menteri besar pleaded not guilty in the Sessions Court here on Thursday to a charge of submitting a false claim amounting to RM19,505.10.

Mohd Syafeeq Mohd Shukri, 35, made the plea after the charge was read out to him before judge Norsalha Hamzah.

Perlis MB's son charged with submitting false claim

Inari Amertron Bhd (KL:INARI), Malaysia’s biggest outsourced semiconductor assembly and test firm, said on Thursday its net profit rose 29% in the third quarter from a year earlier thanks to higher loading volume and currency gains.

Inari Amertron net profit rises 29% in 3Q, investing in new product line

Avaland Bhd’s (KL:AVALAND) residential project Amika Residences has achieved a take-up rate of 60% since its March launch this year. &nbsp;

Amika Residences is located adjacent to Avaland’s first project in Tropicana Metropark, Alira Subang Jaya.&nbsp;