Latest news with #RM133
The Star
6 days ago
- The Star
Nigerian TikTok celebrity jailed for 'spraying' cash
Kunya, a TikToker from northern Nigerian city of Kano with more than a million followers, was sentenced by a federal high court in the city after pleading guilty to the offence, court documents show. — Photo by Solen Feyissa on Unsplash KANO, Nigeria: A Nigerian court on May 28 sentenced a popular TikToker to six months in jail for "spraying" the local naira currency into the air at a party, a common local celebratory practice. Murja Kunya, a TikToker from northern Nigerian city of Kano with more than a million followers was sentenced by a federal high court in the city after pleading guilty to the offence, court documents show. Justice Simon Amobeda gave Kunya an option of 50,000 naira (RM133) fine and gave an order appointing her as an online campaigner against naira abuse using her huge following on social media. Kunya, a 26-year old social media influencer, has earned notoriety for serially running afoul with the law for her online videos deemed immoral by authorities in the conservative city. Her offensive videos led to her several arrests and arraignment in court by the police. She was arrested by Nigeria's anti-graft agency, the EFCC, in January after an online video showed her spraying naira notes in a hotel room in the city, an act prohibited under Nigerian law. The social media influencer was granted administrative bail by the EFCC but absconded and failed to appear in court for arraignment. She was rearrested in March, after weeks of hide-and-seek with EFCC operatives and arraigned in court where she pleaded guilty. Celebrating with bank notes, known as "spraying", is common at Nigerian weddings and parties, but prohibited by law for insulting the national naira currency. Since last year the EFCC has been enforcing a 2007 law outlawing the abuse and mutilation of the naira, while critics say the law is being selectively enforced. Several celebrities have been arrested and taken to court under the law which provides for up to six months jail term and a 50,000 naira (RM 133) fine. – AFP
The Star
23-05-2025
- Business
- The Star
FBM KLCI snaps six-day losing streak to close higher
KUALA LUMPUR: The FBM KLCI snapped a six-session losing streak on Friday, closing higher despite broadly weaker regional markets. The 30-stock index increased by 8.26 points, or 0.55%, to close at 1,535.38. However, it recorded a cumulative decline of 2.32% for the full week. There were 468 gainers, 447 losers and 506 counters traded unchanged on the Bursa Malaysia. Turnover stood at 2.72 billion shares valued at RM2.2bil. Malaysian Pacific Industries rose 42 sen to RM18.42, PETRONAS Gas gained 32 sen to RM18, Sunway Construction added 26 sen to RM5.41 and Kuala Lumpur Kepong climbed 22 sen to RM19.84. Among the day's biggest decliners were Dutch Lady , down 80 sen to RM29.30, Heineken, 36 sen lower at RM27.94, YTL Power, down 21 sen to RM3.39, and LPI Capital, 20 sen lower at RM14.80. Main Market newcomer Eco-Shop Marketing, the most actively traded counter on Bursa Malaysia, closed up 6.19% or seven sen at RM1.20, with 209.16 million shares changing hands. Meanwhile, stock market data showed that foreign funds offloaded RM208 mil worth of equities on Thursday. Local institutions and retailers were net buyers at RM133 mil and RM75 mil, respectively. On the forex market, the ringgit rose 0.86% against the US dollar to 4.2367. It also gained 0.46% against the euro to 4.8043, climbed 0.22% against the pound sterling to 5.7145, and strengthened 0.48% against the Singapore dollar to 3.2927. Among the key regional markets: Japan's Nikkei 225 closed up 0.47% to 37,160.47; Hong Kong's Hang Seng Index rose 0.12% to 23,573.45; China's CSI 300 Index fell 0.81% to 3,882.27; Taiwan's Taiex declined 0.09% to 21,652.24; South Korea's Kospi closed down 0.06% to 2,592.09 and; Singapore's Straits Times Index fell 0.06% to 3,882.42 points.
The Star
13-05-2025
- Business
- The Star
CelcomDigi, Mof Inc, YTL, Maxis & DNB sign revised agreement on DNB shareholding structure
KUALA LUMPUR: A significant restructuring in the shareholding of Digital Nasional Bhd (DNB) has been confirmed through a newly signed Letter of Variation dated today, altering key terms in the previously agreed shareholders agreement on June 28, 2024. The revised agreement involves Infranation Sdn Bhd (CelcomDigi), a wholly-owned subsidiary of CelcomDigi Bhd (CDB), Minister of Finance (Incorporated) [MoF Inc], YTL Power International Bhd (YTL Power), Maxis Broadband Sdn Bhd (Maxis), U Mobile Sdn Bhd (U Mobile), and DNB, according to a Bursa Malaysia filing by CDB. Under the new terms, U Mobile will divest its entire 100,000 shares in DNB to MoF Inc, YTL, CelcomDigi, and Maxis. Each party will acquire a proportion of the shares for RM1.00 per share, totalling an acquisition price of RM100,000. This transaction is set to be completed on May 30, 2025. The breakdown of share acquisition are as follows: MoF Inc - one share (RM1); YTL - 33,333 shares (RM33,333); CelcomDigi 33,333 shares (RM33,333); and Maxis 33,333 shares (RM33,333). With this transaction, U Mobile forfeits the right to exercise any put or call options previously available under the shareholders agreement. Following the acquisition, the ownership structure of DNB has been revised. MoF Inc will hold an issued share capital of RM500,100,002, representing 41.67 per cent of the combined ownership, with no shareholder advance. YTL, CelcomDigi, and Maxis will each hold issued share capital of RM133,333 and have provided shareholder advances of RM233,233,333, resulting in each holding a 19.44 per cent ownership stake in DNB. Meanwhile, CDB said that the Letter of Variation will not have any material impact on its earnings per share (EPS), net assets per share (NAPS), gearing, share capital, or major shareholders' direct or indirect holdings for the financial year ending Dec 31, 2025 (FY2025). In a separate filing, Maxis said MoF Inc shall exercise its put option to sell its ordinary shares and transfer its shareholder advance in DNB, within one month after Nov 12, 2025. This timeline may be extended if mutually agreed in writing by MoF Inc, YTL, CelcomDigi, and Maxis. "If MoF Inc. fails to exercise the put option within the said period, the put option will lapse, and the remaining shareholders may activate their call option within one month thereafter," it said. Maxis has clarified that the proposed investment will not have a material impact on its EPS, NAPS, or gearing of the group for FY2025. Any further material developments will be announced in due course, it added. - Bernama
New Straits Times
13-05-2025
- Business
- New Straits Times
CIMB cuts Berjaya Food forecasts amid weak Q3, sluggish sales recovery
KUALA LUMPUR: Berjaya Food Bhd is expected to see slower-than-expected sales recovery after its core net loss widened in the third quarter ended March 31, 2025 (Q3FY25). CIMB Securities has raised its core net loss estimates for the company to RM133 RM133million, RM74 million and RM23 million for financial year 2025 (FY25), FY26 and FY27, respectively. The estimates were revised upwards from the previous forecast of RM104 million, RM61 million and RM20 million. The firm also lowered its target price for the stock to 28 sen from 32 sen previously. Berjaya Food reported a core net loss of RM36.7 million in 3QFY25, after adjusting for one-off items of RM0.5 million. This brought the cumulative nine-month core net loss to RM101.2 million, missing CIMB Securities' expectations at 97 per cent for the FY25 previous loss estimate and 110 per cent of the Bloomberg consensus forecast. "The earnings miss is attributed to lower-than-expected revenue from Starbucks and Kenny Rogers Roasters operations, as well as higher-than-expected start-up costs for its overseas expansion efforts," it said in a note. Berjaya Food is likely to post narrow losses in Q4 Q4FY25 following the end of Ramadan fasting in March. Additionally, the company has indicated early signs of recovery at its Malaysia Starbucks outlets, as the impact of the boycott related to the Israel-Palestine conflict appears to be easing. "The group's ongoing efforts to rationalise its store network by closing underperforming outlets may also support loss mitigation." The firm maintained its 'Reduce' call on the stock.
