EEEEgil
liked
Rumor has it that the signing of today's deal was postponed and Shazhou's acquisition of Effen Holdings changed?
(KUALA LUMPUR 19th) It was originally scheduled to be signed by the Shazhou Government and the Armed Forces Foundation Authority (LTAT) today $AFFIN(5185.MY$ Effen Holdings' equity transaction agreement ceremony, sources revealed that it has been postponed.
“The Edge” today quoted sources as saying that the Sarawak side has delayed the signing ceremony in order to confirm some of the conditions set by the National Bank of China for the relevant exchange.
However, sources indicated that both parties to the deal will still sign a Memorandum of Understanding (MOU) today. According to information, Shazhou Prime Minister Tan Sri Abon Zohari and some senior state officials have arrived in Kuala Lumpur.
“They originally expected to come to Kuala Lumpur to sign a formal transaction agreement, but now they have signed a memorandum of understanding.”
According to earlier media reports, the Sarawak government intends to acquire a large number of shares in Effen Holdings from LTAT and increase its shareholding from the current 4.8% to 30% in one go.
After completing the deal, the Shazhou government will surpass LTAT and become the largest shareholder of Effen Holdings.
The deal requires approval from the Bank of China, and “The Edge” also quoted sources on July 1, saying that the Bank of China has conditionally approved the deal.
“It's still unclear what the relevant conditions are, but I don't expect that to cause the deal to collapse. “The Edge” learned that the Bank of China has no opinion on the Shazhou government increasing its holdings of Effen Holdings to 30%, making it the largest shareholder.”
An unnamed industry insider...
(KUALA LUMPUR 19th) It was originally scheduled to be signed by the Shazhou Government and the Armed Forces Foundation Authority (LTAT) today $AFFIN(5185.MY$ Effen Holdings' equity transaction agreement ceremony, sources revealed that it has been postponed.
“The Edge” today quoted sources as saying that the Sarawak side has delayed the signing ceremony in order to confirm some of the conditions set by the National Bank of China for the relevant exchange.
However, sources indicated that both parties to the deal will still sign a Memorandum of Understanding (MOU) today. According to information, Shazhou Prime Minister Tan Sri Abon Zohari and some senior state officials have arrived in Kuala Lumpur.
“They originally expected to come to Kuala Lumpur to sign a formal transaction agreement, but now they have signed a memorandum of understanding.”
According to earlier media reports, the Sarawak government intends to acquire a large number of shares in Effen Holdings from LTAT and increase its shareholding from the current 4.8% to 30% in one go.
After completing the deal, the Shazhou government will surpass LTAT and become the largest shareholder of Effen Holdings.
The deal requires approval from the Bank of China, and “The Edge” also quoted sources on July 1, saying that the Bank of China has conditionally approved the deal.
“It's still unclear what the relevant conditions are, but I don't expect that to cause the deal to collapse. “The Edge” learned that the Bank of China has no opinion on the Shazhou government increasing its holdings of Effen Holdings to 30%, making it the largest shareholder.”
An unnamed industry insider...
Translated
25
EEEEgil
liked
So sad once touted the best AI data centre darling still cannot break 5.44 again. Now still at 4.80 after so much promotional must buy counter.
4
EEEEgil
liked
Convention
Translated
loading...
15
1
EEEEgil
liked
EEEEgil
liked
$Faraday Future Intelligent Electric Inc.(FFIE.US$ Give up shorting. Let's stop it! Azu. If you go short, you will definitely lose money
Translated
7
7
EEEEgil
liked
•Last week, during Fed Chair Powell’s dovish remarks to the Senate Banking Committee. Powell noted the labor market's return to balance, contrasting with his previous comments. While he didn't provide a timeline for rate cuts, he highlighted signs of a slowing job market following data showing rising unemployment for three consecutive months.
•Furthermore, June’s CPI report came in mild with core CPI rising by just 0.06% monthly (consensus: 0.2%), with ren...
•Furthermore, June’s CPI report came in mild with core CPI rising by just 0.06% monthly (consensus: 0.2%), with ren...
22