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CIMB Research retains Reduce on Sime Darby

KUALA LUMPUR: CIMB Equities Research is retaining its Reduce outlook on Sime Darby with an unchanged sum of parts based target price of RM2.42 per share. Its last traded price was RM2.80.

Barakah to the rescue of beleaguered Malaysian owned Otto Marine?

PETALING JAYA: The fate of financially-distressed Singapore shipping company Otto Marine Ltd, which is owned by Malaysian tycoon Datuk Seri Yaw Chee Siew, is in the hands of Barakah Offshore Petroleum Bhd. Sources said Otto Marine was banking on getting contracts from Barakah to resuscitate its business which is on the verge of collapse.

Meanwhile, Yaw Chee Siew(inset pic) is best known in local circles as the executive chairman of Perdana Parkcity Sdn Bhd – the developer of the successful Desa ParkCity township in Kepong..

SugarBun on expansion mode

KUCHING: Borneo Oil Bhd-owned fast-food restaurant chain SugarBun, which has a strong base in Sarawak, is mounting an aggressive expansion plan nationwide under its new “Grab n’ Go” food kiosk concept. It is targeting to set up 40 kiosks nationwide

According to executive director Raymond Teo Kiew Leong, Borneo Oil’s franchised division targets to set up 40 “Broasted by SugarBun” kiosks this year under the new concept. Half or 20 of the proposed kiosks will be in Sabah, 15 in Peninsular Malaysia and five in Sarawak.(Filepic shows Teo in suit talking to some of the staff in one of the outlets)

Elvis Presley's only daughter in financial ruin

LOS ANGELES: Lisa Marie Presley, the only daughter of Elvis Presley, says she is facing financial ruin and has filed a $100 million lawsuit accusing her former business manager of negligence and mismanaging her finances.

Her ex-manager has filed his own lawsuit, accusing Presley, 50, of squandering her famous father's inheritance because of her lavish lifestyle. The lawsuit seeks $800,000 in unpaid bills.  The dueling lawsuits, filed earlier this week in Los Angeles Superior Court, follow the collapse in 2016 of Presley's fourth marriage and her announcement that she was $16 million in debt.

New partner for Naza group?

A GLOBAL carmaker is close to completing a deal to acquire a majority stake in Naza Group’s plant in Gurun, Kedah, sources say.

Huge investment: Naza was reported to have invested about RM700mil over the years to build up its Gurun plant.

Possible solutions for MP Corp

LONG-AILING Malaysia Pacific Corp Bhd (MP Corp) inches closer to a permanent shutdown, as its troubles continue to mount after several years of financial distress.