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Business

Hess, which has assets in M'sia, has no plans to sell Asian oil assets

SINGAPORE: U.S. oil producer Hess Corp has no intention to sell its assets in Asia as the region provides good, steady cash flow and a stable political environment, a senior company executive told Reuters on Tuesday.

Business

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.

Business

Australia’s Mineral Resources to sell minority stake

MELBOURNE: Mining services provider Mineral Resources Ltd said it was looking to sell a minority stake in its Wodgina Lithium mine in the west of Australia.

Business

Australia's IAG set to sell SE Asia businesses, has some in Malaysia

HONG KONG/SINGAPORE: Insurance Australia Group is set to sell its four Southeast Asian businesses in deals that could be valued at about $500 million, under a review of its Asian operations, three people with knowledge of the matter said.

Business

Wharf agrees to sell telecom unit to TPG

HONG KONG: Hong Kong tycoon Peter Woo’s Wharf Holdings Ltd has agreed to sell its telecom business to a consortium of TPG Capital Management LP and MBK Partners for HK$9.5bil (US$1.22bil), a person familiar with the matter told Reuters.

Business

UMW Toyota aims to sell 2,500 Sienta cars

KUALA LUMPUR: UMW Toyota Motors Sdn Bhd is aiming to sell 2,500 units of the new Sienta compact seven-seater multi-purpose vehicle by the end of the year.

Business

Thomson Reuters to sell intellectual property business

JOHANNESBURG: Thomson Reuters Corp agreed to sell its Intellectual Property & Science business to Onex Corp and Baring Private Equity Asia for US$3.55bil in cash.

Business

EPF: No need to sell assets overseas for cash to invest in Malaysia

KUALA LUMPUR: The Employees Provident Fund (EPF) says it has no need to sell assets overseas for cash, as the net inflow of contributions of close to RM16bil a year is more than enough to cover for its domestic investment requirement. The pension fund manages RM684.5bil worth of investment assets as of end of 2015.

Business

VW not under pressure to sell trucks business

FRANKFURT: Volkswagen is not under pressure to sell its trucks business to raise cash as it faces billions of euros in costs after admitting to rigging emissions tests, management board member Andreas Renschler told a German newspaper

Business

Samsung will sell 5 million Samsung C&T shares to meet regulatory demands

SEOUL: South Korean conglomerate Samsung Group said on Sunday its battery making affiliate Samsung SDI Co Ltd will sell 5 million shares in Samsung C&T Corp <028260.KS> to comply with an order from local regulators.