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Fox to craft script for M&A summer blockbuster

NEW YORK: Twenty-First Century Fox Inc’s board is set to decide whether to entertain Comcast Corp’s US$65bil cash bid for the New York-based media company or stick with its roughly US$52bil all-stock offer from Walt Disney Co, people familiar with the matter said.

Better offer: A man stands at a gate near the Fox Studios in West Los Angeles, California. While its board has yet to make a decision, analysts and industry dealmakers widely expect Fox to say that Comcast’s bid could potentially lead to a better deal for its shareholders. — AFP

Vehicle sales fall 15% in May

PETALING JAYA: Vehicle sales fell 15% to 42,983 units in May 2018 from 50,594 units in the previous corresponding period, marking the fourth consecutive month this year that car sales have been declining.

In a statement yesterday, the Malaysian Automotive Association (MAA) said the announcement of zero-rated Goods and Services Tax (GST) on May 16 had resulted in market uncertainties.

Hap Seng to sell two plots of land for RM90mil

PETALING JAYA: Hap Seng Consolidated Bhd is disposing of two parcels of land totalling 59.24 acres in Tawau, Sabah for a combined worth of RM90.13mil, as part of its strategy to sell off non-strategic locations without immediate development potential.

Its wholly-owned subsidiary, Hap Seng Properties Development Sdn Bhd, will be disposing of the leasehold parcels of land to Goldcoin Ventures Sdn Bhd.

JPMorgan sees better days for Asia bonds

TOKYO: Investors in Asian dollar bonds can look forward to better times for the rest of the year, with junk corporate notes from the region likely to be the best performers, according to JPMorgan Chase & Co.

A sign outside the headquarters of JP Morgan Chase & Co in New York. Analysts at the US bank are forecasting gains to the end of the year for the different segments in the JPMorgan Asia Credit Index, including sovereign, investment-grade and high-yield corporate debt.

Mi Equipment debuts on Bursa

PETALING JAYA: Mi Equipment Holdings Bhd shares closed up 12 sen at RM1.54 on its debut on Bursa Malaysia with nearly 74 million shares changing hands as the rally in technology stocks benefited the counter’s entry on the stock market.

Listing of Mi Equipment: From left:  Executive Director Ong Tee Ni, Independent Non-Executive Director Lee Boon Leng, Executive Director/Group CEO Oh Kuang Eng and Independent Non-Executive Chairman Adrian Foo.

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