Plexus Secures $6 Million To Accelerate AI-Driven Growth Strategy
The raise, led by existing shareholders and Seattle-based Lighter Capital, marks Plexus' first institutional partnership. The funds will fuel expansion into key international markets, accelerate AI product delivery, and onboard the next wave of exceptional talent.
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New Straits Times
30 minutes ago
- New Straits Times
HLIB sees Sunway as prime domestic growth proxy, retains 'Buy' with RM5.90 target
KUALA LUMPUR: Hong Leong Investment Bank (HLIB) is doubling down on Sunway Bhd's growth prospects, reiterating its BUY call with a sum-of-parts (SOP) target price of RM5.90, underpinned by rising exposure to Malaysia's accelerating economic upcycle. The investment bank's bullish stance cements Sunway as a key proxy for Malaysia's growth story heading into 2026. HLIB said Sunway is well-positioned to capitalise on domestic momentum, with multiple catalysts on the horizon – from stronger-than-expected construction order book wins and a potential conversion of its Medini land to freehold status to the planned healthcare arm listing in early 2026, which could unlock substantial shareholder value. Over the longer term, HLIB expects Sunway's property segment to stay resilient, supported by healthy take-up from phased launches, strategic landbank expansion, and leverage to the Johor-Singapore Special Economic Zone (JS-SEZ), alongside steady progress in its Singapore-based projects. HLIB said the technical outlook for Sunway remains bullish. It noted that Sunway's share price has rebounded sharply from a double-bottom at RM4.00 (January 17) and RM3.93 (April 7), breaking above its 200-day moving average (RM4.65) to hit an all-time high of RM5.16 on July 18, before closing at RM4.74 on Monday. The investment bank sees the stockholding firm above the RM4.64 support level, with upside potential towards RM4.84, RM5.00, RM5.15, and RM5.32.
Barnama
2 hours ago
- Barnama
Durian Becomes Symbol Of Unity For Three Friends
By Kamarul Halim M Kamal BATU PAHAT, Aug 17 (Bernama) -- Just like durian flesh neatly packed within its thorny husk, the friendship of three men from different races has remained strong, with the 'king of fruits' not only serving as their livelihood but also as a symbol of unity. About a decade ago, Mohd Nasir Majnun, 43, Chew Pei Chuan, 42, and S. Lognathan, 35, worked together as car repossessors before each tried running their own durian stalls in separate locations. But as their stalls were quite close to one another, it became difficult to attract customers. 'That situation led us to sit down and agree to set up a joint venture under the name 'Rumah Buah'. Alhamdulillah, it turned out to be a blessing as our stall has since become a favourite spot for customers of all races. 'Many praised our effort, saying it serves as a good example of unity,' Mohd Nasir told Bernama at their shop in Jalan Chengal, Taman Batu Pahat, recently. Chew said their decision to join forces has since attracted customers from across Malaysia and abroad. 'Before this, only locals bought from me. Now, we have customers from Singapore, Thailand and even China. They want to taste Musang King and see for themselves how we work together. 'Our story went viral during the Movement Control Order, when we sold durians online and personally delivered them to customers,' he said, adding that they now sell up to three tonnes of durians daily, including Musang King, kampung, kahwin, IOI, Black Thorn and D13 varieties.
The Sun
2 hours ago
- The Sun
Sepang Circuit plans expansion after post-pandemic profit return
KUALA LUMPUR: The Sepang International Circuit (SIC) is mapping out long-term expansion plans after bouncing back into profitability following the financial strain of the pandemic. SIC chief executive officer Azhan Shafriman Hanif (pic) said the circuit is finalising a 10-year business strategy to maximise its 303-hectare landbank. 'We only fully utilise about 50 per cent of the land during international events. The rest sits idle most of the year,' he told Bernama. He explained that unresolved land tenure issues had previously hindered investment opportunities. 'Any investor would ask, who do I sign the lease with? And we couldn't answer that directly,' he said. With a sub-lease agreement now progressing, SIC can negotiate long-term leases for hotels, motorsport facilities, and F&B outlets. Azhan Shafriman took over as CEO in April 2020, just as COVID-19 forced the cancellation of large-scale events. 'It was tough. We couldn't lay off staff or cut salaries, being under the MOF and the Youth and Sports Ministry,' he recalled. The downtime allowed SIC to resolve legacy issues, including upgrading a neglected sewerage treatment plant. 'We managed to secure funding through MOF and KBS to fix the sewage infrastructure,' he said. In 2023, SIC returned to profitability with the revival of international events like MotoGP. 'That year marked our turning point,' said Azhan Shafriman. Beyond motorsports, he aims to transform Sepang into a lifestyle hub. A lakeside café, the circuit's first F&B outlet, is a small but symbolic step. 'Before this, you had to drive out just to get lunch,' he said. Discussions are ongoing to bring in more eateries, convenience stores, and family-friendly spaces. SIC's presence benefits local traders and communities, supporting Sepang's sports and tourism economy. Though no longer hosting Formula 1, the circuit remains a buzzing motorsports and entertainment hub. The recent Super GT event drew over 78,000 spectators, boosted by a collaboration with the Nihon Matsuri festival. Last year, SIC welcomed 200,000 to 300,000 spectators across all events. 'You need music, food, lifestyle – that's how we build a crowd,' Azhan Shafriman added. SIC's proximity to Port Klang and KLIA gives it an edge as a regional hub for motorsports and automotive showcases. 'Let's say you hold an auto show here. You can actually test cars on the track,' he said. Upcoming events include the Malaysian Festival of Speed in September, featuring drift events and karting slalom. With MotoGP as its flagship event, SIC aims to diversify its offerings to attract both international and local fans. 'F1 or not, we have built a model that's thriving,' Azhan Shafriman said. - Bernama
