Latest news with #Atlan
Malaysian Reserve
2 hours ago
- Automotive
- Malaysian Reserve
Atlan to sell entire stake in United Industries for RM175m to Duty Free International
ATLAN Holdings Bhd has proposed to dispose of its entire equity interest in United Industries Holdings Sdn Bhd (UIHSB) to its 75.53%-owned Singapore-listed subsidiary Duty Free International Ltd (DFIL) for RM175 million in cash. The transaction, which involves 37.7 million shares representing 100% equity in UIHSB, is part of a strategic move to streamline Atlan's business structure and strengthen its financial position, the group said in a bourse filing. The sale consideration values UIHSB at 8.57 times its audited FY2025 profit after tax and minority interest (PATAMI) of RM20.42 million, and 4.91 times its EBITDA of RM38.47 million. UIHSB and its subsidiaries manufacture and market automotive component parts including exhaust systems, fuel tanks, and brake systems, supplying to original equipment manufacturers (OEMs) in Malaysia. Despite the full disposal, UIHSB will remain a subsidiary of Atlan by virtue of Atlan's majority stake in DFIL. However, Atlan's effective ownership in UIHSB will drop from 100% to 75.53%, which will reduce its attributable earnings going forward. Proceeds from the sale will be used for the redevelopment of Atlan's Jalan Ampang property (RM60 million), potential investments (RM78.5 million), working capital (RM30 million), and transaction expenses (RM6.5 million). Meanwhile, DFIL is proposing to diversify its core business beyond duty-free retailing to include automotive parts manufacturing, in line with its acquisition of UIHSB. The group said the new business will provide stable recurring income and reduce reliance on the increasingly competitive duty-free segment. The acquisition and diversification are subject to shareholder approvals at upcoming EGMs of both Atlan and DFIL. If approved, the deal is expected to be completed in 4Q2025. –TMR
New Straits Times
4 hours ago
- Automotive
- New Straits Times
Atlan Holdings to dispose of 100pct equity interest in United Industries for RM175mil
KUALA LUMPUR: Atlan Holdings Bhd has inked a conditional agreement to sell the entire paid-up capital of its automotive components manufacturing arm, United Industries Holdings Sdn Bhd (UIHSB), to its 75.53 per cent-owned subsidiary Duty Free International Ltd (DFIL) for RM175 million. The transaction involves the sale of 37.7 million shares, representing 100 per cent equity interest in UIHSB, Atlan said. "The proposed disposal is intended to strengthen the company's financial position by providing additional capital to support its working capital requirements and drive the expansion of its property and hospitality business as well as fund potential investments," it said in a filing with Bursa Malaysia today. Atlan said it plans to utilise RM60 million for redeveloping its property located in Jalan Ampang, Kuala Lumpur; RM78.50 million for potential investments that complement its existing business; and RM30 million for working capital. "The disposal will also allow the company to monetise its investment in the United Industries Group, realising its value in cash while retaining substantial control of the group," it said. The disposal to Singapore-based DFIL is expected to be completed by the fourth quarter of 2025. It is subject to the approval of Atlan's shareholders as well as the non-interested shareholders of DFIL. Meanwhile, DFIL said in a statement that the proposed acquisition of UIHSB represents a strategic initiative by the group to diversify beyond its existing core business in duty-free and duty-paid retailing in Malaysia. "While the duty-free segment continues to be a key revenue contributor, the board acknowledges the need to mitigate concentration risk and enhance the group's long-term resilience by expanding into business sectors that is able to provide stable recurring income," it added.
The Star
5 hours ago
- Automotive
- The Star
Atlan disposes of wholly-owned subsidiary for RM175mil
PETALING JAYA: Atlan Holdings Bhd is proposing to dispose of its entire issued and paid-up share capital in United Industries Holdings Sdn Bhd (UI) to Singapore-based Duty Free International Ltd (DFIL) for RM175mil. In a filing with Bursa Malaysia, the automotive stamping firm said the disposal of its wholly-owned subsidiary is intended to strengthen the company's financial position by providing additional capital to support its working capital requirements and drive the expansion of its property and hospitality business, as well as fund potential investments. 'As part of this strategy, the company aims to streamline the group's corporate and business structure to enhance operational efficiency and strategic focus.' Atlan said the disposal will also allow the company to monetise its investment in UI, realising its value in cash while retaining substantial control of UI. 'Proceeds from the proposed disposal are expected to fund key expansion initiatives, including the redevelopment of the Jalan Ampang property and fund potential investments, which is expected to deliver meaningful contributions to the group's revenue and profit in the coming years. UI is principally involved in the manufacture and supply of automotive parts to original equipment manufacturers in Malaysia. Atlan holds a 75.53% stake in DFIL. Upon completion of the proposed disposal, Atlan's effective shareholding in UI will decrease from 100% direct shareholding to 75.53% indirect shareholding, via Atlan's interest in DFIL. Through the proposed disposal, Atlan said UI will be wholly-owned by DFIL and will be able to access and utilise the surplus funds of DFIL to finance its expansion plans and pursue investments in automotive industries. 'This reorganisation is expected to strengthen UI's financial flexibility and position it to seize new business opportunities aligned with evolving market trends, ultimately supporting long-term growth and competitiveness.'
Economic Times
14-07-2025
- Entertainment
- Economic Times
WWE Evolution 2025 (July 13) Results and Highlights: Tiffany Stratton retains WWE Women's Championship, Becky Lynch defends Intercontinental title
Tiffany Stratton retained the WWE Women's Championship with a hard-fought victory over legend Trish Stratus. (Image Credit: WWE) Synopsis WWE Evolution in Atlanta saw Becky Lynch retain her Women's Intercontinental Championship in a thrilling triple threat. Tiffany Stratton also defended her WWE Women's Championship against Trish Stratus. Raquel Rodriguez and Roxanne Perez retained their tag titles in a four-way match, while Jacy Jayne controversially kept her NXT Women's Championship. Becky Lynch kicked off WWE Evolution in Atlanta, retaining her Women's Intercontinental Championship in a high-energy triple threat against Bayley and Lyra Valkyria on Sunday night. Tiffany Stratton followed by defending her WWE Women's Championship, thwarting veteran Trish Stratus to remain champion. ADVERTISEMENT Becky Lynch retains Intercontinental Championship As the bell rang, the crowd roared to life, setting the tone for an electric opener. The match delivered nonstop action, with Valkyria often at the heart of the most dynamic moments. In the closing sequence, Lynch cleverly reversed a Valkyria pin attempt into a rolling pin on Bayley to score the win. The bout was a high-octane showcase for all three women, with strong chemistry and crowd engagement throughout - an outstanding way to kick off the night. Jacy Jayne retains the NXT Women's ChampionshipJacy Jayne retained the NXT Women's Championship with a controversial win over Jordynne Grace. The match showcased Grace's impressive power offense, while Jayne delivered a steady, resilient performance. Late in the contest, Blake Monroe struck Grace with the title belt, setting up Jayne for the pinfall. The bout featured some gripping near falls that kept the crowd invested. However, Monroe's heel turn lacked the impact it aimed for - crowd reaction to her interference was minimal until the closing moments. ADVERTISEMENT Raquel Rodriguez & Roxanne Perez clinch Tag Team Championships Raquel Rodriguez and Roxanne Perez successfully defended the WWE Women's Tag Team Championships in a four-way tag match against Sol Ruca & Zaria, The Kabuki Warriors, and Charlotte Flair & Alexa Bliss. The match was largely straightforward in structure but packed with crowd-pleasing moments. The Atlanta audience was especially vocal in support of Flair and Bliss, who received standout reactions throughout. Ruca impressed with a sharp Sol Snatcher on Flair that drew a big pop. In the final moments, Rodriguez power bombed Bliss out of the ring before finishing Ruca with a dominant choke slam to seal the win and retain the titles. ADVERTISEMENT Tiffany Stratton wins WWE Women's ChampionshipTiffany Stratton retained the WWE Women's Championship with a hard-fought victory over legend Trish Stratus. The match reached its climax when Stratton countered a Stratus moonsault, followed by a punishing Alabama Slam. She sealed the win with her signature triple jump moonsault. Despite the loss, Stratus received a heartfelt ovation from the Atlanta crowd after the match. She stayed in the ring for a moment, soaking in the cheers, and bowed to the fans before making her exit. ADVERTISEMENT Jade Cargill wins No Holds Barred MatchJade Cargill delivered a spectacular finish to secure victory, hitting Jaded from the top rope and sending her opponent crashing through a table. The match was packed with high-impact action and strong pacing from start to finish. Bianca Belair served as the special guest referee and called it fairly, counting falls for both competitors without bias. Cargill's athleticism and power were on full display, while the crowd stayed hot throughout. The dramatic table spot served as a fitting exclamation point to a physical, well-executed bout that further solidified Cargill's dominance. ADVERTISEMENT Stephanie Vaquer wins the Battle RoyalStephanie Vaquer sealed her Battle Royal victory in thrilling fashion. After hitting a 619, she attempted a springboard move - only to be caught mid-air by Lash Legend in a powerbomb position. Legend walked her to the ropes, but Vaquer cleverly shifted momentum, pulling both onto the apron. In a dramatic final sequence, Vaquer landed another perfectly timed Devil's Kiss, rolling Legend off the apron for the win. An absurd, over-the-top finish - in the best possible way. Despite some chaotic early moments, the match built to a satisfying climax. Naomi wins Women's World ChampionshipNaomi shockingly inserted herself into the match, turning it into a triple threat and immediately made her presence felt. She leveled IYO SKY with the Money in the Bank briefcase, then tossed Rhea Ripley out of the ring to clear the path. Capitalizing on the chaos, Naomi landed a flawless split-leg moonsault on SKY to steal the win. A dramatic and opportunistic finish that left the crowd stunned—Naomi walked away with a huge victory in classic Money in the Bank fashion. WWE Women's Intercontinental Championship: Becky Lynch defeated Lyra Valkyria and Bayley NXT Women's Championship: Jacy Jayne defeated Jordynne Grace WWE Women's Tag Team Championships: Raquel Rodriguez & Roxanne Perez defeated Sol Ruca & Zaria, The Kabuki Warriors, and Charlotte Flair & Alexa Bliss WWE Women's Championship: Tiffany Stratton defeated Trish Stratus Jade Cargill defeated Naomi in a No Holds Barred Match Stephanie Vaquer wins the Battle Royal for a world championship match at Clash in Paris Women's World Championship: Naomi defeated Iyo Sky (c), Rhea Ripley (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates. 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The reason would shock you WWE Evolution 2025 (July 13) Results and Highlights: Tiffany Stratton retains WWE Women's Championship, Becky Lynch defends Intercontinental title WWE Evolution 2025 (July 13) Results and Highlights: Tiffany Stratton retains WWE Women's Championship, Becky Lynch defends Intercontinental title Rick and Morty Season 8: Episode 8 release date, time, episode schedule and where to watch in US, UK Rick and Morty Season 8: Episode 8 release date, time, episode schedule and where to watch in US, UK Love Island: Beyond the Villa: Release date, time, cast, trailer, episode schedule, how to watch in US, Canada, UK, Australia Love Island: Beyond the Villa: Release date, time, cast, trailer, episode schedule, how to watch in US, Canada, UK, Australia Sotheby's Auction: Biggest Martian rock on Earth goes on sale. Here's how it came to Earth Sotheby's Auction: Biggest Martian rock on Earth goes on sale. Here's how it came to Earth Nationals select 17-year-old shortstop Eli Willits as No. 1 overall pick in 2025 MLB Draft Nationals select 17-year-old shortstop Eli Willits as No. 1 overall pick in 2025 MLB Draft Love Island USA Season 7 Finale: Date, time, final couples, odds, prize money, how to vote and where to watch in US and Canada NEXT STORY
The Star
11-07-2025
- Automotive
- The Star
Atlan sees lower profit, revenue for 1Q
PETALING JAYA: Atlan Holdings Bhd has posted a lower profit of RM3.06mil for the first quarter ended May 31, 2025 compared to RM5.15mil in the same quarter last year. Atlan, which is involved in duty free retailing, manufacturing of automotive parts, property investment and hospitality and lifestyle, said its revenue was also lower for the quarter under review at RM99.41mil, compared to RM117.92mil in the same quarter last year.
