Latest news with #RM28
New Straits Times
5 days ago
- Business
- New Straits Times
Real Madrid most valuable soccer team for fourth straight year, say Forbes
MADRID: La Liga side Real Madrid topped the list of the most valuable soccer teams in the world for the fourth year in a row with a valuation of US$6.6 billion (RM28 billion), business magazine Forbes has said. Real became the first soccer club to bring in a billion dollars in a single year after they posted a record US$1.13 billion in revenue for the 2023-24 season, the magazine added in a report published on Friday. The Spanish club, the second sports team in history to hit the 10-figure threshold after National Football League side Dallas Cowboys, are the first soccer team to register €1 billion (RM4.8 billion) in revenue in a single season, Deloitte had said earlier this year. England's Manchester United are second in Forbes' list with a US$6.6 billion valuation after generating US$834 million in revenue in the 2023-24 season despite a forgettable Premier League campaign where they finished eighth. Real's La Liga rivals Barcelona are third, valued at US$5.65 billion, while Liverpool and Manchester City are fourth and fifth. Forbes named six Premier League sides among the top 10 most valuable teams with Arsenal, Tottenham Hotspur and Chelsea making the list after Bayern Munich and Paris St Germain.
The Sun
20-05-2025
- The Sun
Former bank teller charged with CBT
ALOR SETAR: A former bank teller in Padang Terap near here pleaded not guilty in the Sessions Court here today to four charges of criminal breach of trust of the bank customer's money totalling RM55,000. Mohd Abd Rahman Hamzah, 41, was charged with committing the offence by making a withdrawal transaction from a bank account belonging to Akademi Al-Quran dan Dakwah Ummah without the consent of the account owner. The man, who now works part-time as a car salesman in Sungai Petani, was charged with committing the offence at the bank in April, May and June 2022. The charge, under Section 408 of the Penal Code, provides an imprisonment for up to 14 years and whipping and may also be fined if convicted. He also pleaded not guilty to four charges of using a document, namely 'Borang Wang Keluar Wit 506' for the amount of all the money in the account belonging to the academy, as genuine, which he had reason to believe was a forgery at the same location and date. The charge, under Section 471 of the Penal Code, is punishable under Section 465 of the Penal Code, which provides a maximum two-year jail term or a fine or both if convicted. Judge N. Priscilla Hemamalini allowed the man bail of RM28,000 with one surety for all charges and set June 15 for mention for the submission of documents and the appointment of a lawyer. Deputy Public Prosecutor Vatchira Wong Rui Fern appeared for the prosecution.
The Sun
20-05-2025
- The Sun
Former bank teller charged with CBT involving RM55,000
ALOR SETAR: A former bank teller in Padang Terap near here pleaded not guilty in the Sessions Court here today to four charges of criminal breach of trust of the bank customer's money totalling RM55,000. Mohd Abd Rahman Hamzah, 41, was charged with committing the offence by making a withdrawal transaction from a bank account belonging to Akademi Al-Quran dan Dakwah Ummah without the consent of the account owner. The man, who now works part-time as a car salesman in Sungai Petani, was charged with committing the offence at the bank in April, May and June 2022. The charge, under Section 408 of the Penal Code, provides an imprisonment for up to 14 years and whipping and may also be fined if convicted. He also pleaded not guilty to four charges of using a document, namely 'Borang Wang Keluar Wit 506' for the amount of all the money in the account belonging to the academy, as genuine, which he had reason to believe was a forgery at the same location and date. The charge, under Section 471 of the Penal Code, is punishable under Section 465 of the Penal Code, which provides a maximum two-year jail term or a fine or both if convicted. Judge N. Priscilla Hemamalini allowed the man bail of RM28,000 with one surety for all charges and set June 15 for mention for the submission of documents and the appointment of a lawyer. Deputy Public Prosecutor Vatchira Wong Rui Fern appeared for the prosecution.
New Straits Times
16-05-2025
- Business
- New Straits Times
Oasis Home's 150mil IPO shares oversubscribed by 1.55 times
KUALA LUMPUR: Oasis Home Holding Bhd's initial public offering (IPO) has been oversubscribed by 1.55 times ahead of its listing on the ACE Market of Bursa Malaysia on May 28. Its IPO comprises of 150 million shares, including a public issue of 100 million new shares at 28 sen each. This represents 20 per cent of the enlarged issued shares, with about RM28 million expected to be raised. Upon listing, the company will have a market capitalisation of around RM140 million. Some 25 million out of the 100 million issue shares are allocated to the public, in which the company received a total of 2,216 applications for 38.7 million issue shares with a value of about RM10.83 million, representing an overall oversubscription rate of 1.55 times. Meanwhile, the 10 million issue shares made available for application by the eligible directors and employees have been fully subscribed. The IPO also included an offer for sale of 50 million existing shares, representing 10 per cent of the enlarged issued share capital, made available through a private placement to selected investors. Of the private placement, 2.5 million issue shares and 50 million offer shares designated for selected investors have been fully placed out. The 62.5 million issue shares reserved for Bumiputera investors approved by Investment, Trade and Industry Ministry have been fully placed out after applying the relevant clawback and reallocation provisions as set out in Section 4.3.4 of the company's prospectus dated April 25. Oasis Home is involved in the marketing and selling of consumer lifestyle products under both its in-house and third-party brands. By adopting an omni-channel marketing approach, the company utilises both online and offline sales channels to ensure a seamless and accessible retail journey for customers, strengthening its position across a wide spectrum of consumer touchpoints. Oasis Home offers a wide range of products, with about 5,228 stock keeping units. Chief executive officer Datuk Teoh Yee Seang said the continued growth of the retail and live commerce industries makes this an ideal time for the company to capitalise on favourable market conditions. He said the optimistic outlook was based on market research projecting that Southeast Asia's live commerce market will grow at a two-year compounded annual growth rate (CAGR) of 42.5 per cent, reaching US$76.6 billion in 2027 from US$37.7 billion in 2025. "To position ourselves leverage this favourable outlook, a significant portion of our IPO proceeds will be dedicated to expanding our operations, particularly scaling up our live commerce channels and enhancing our operational infrastructure," he said in a statement. Teoh said Oasis Home plans to allocate RM13.7 million or 48.93 per cent of the proceeds raised to expand live commerce sales channels, including launching at least five new live commerce channels and expanding the team. He added that a total of RM3.6 million or 12.86 per cent of the proceeds will be utilised in establishing fulfilment centre, while RM2 million or 7.14 per cent of the amount will be set aside for setting up new headquarter. MIDF Amanah Investment Bank Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.
The Sun
16-05-2025
- Business
- The Sun
Strong investor demand sees Oasis Home Holding's ACE Market IPO oversubscribed 1.55 times
KUALA LUMPUR: Omnichannel consumer lifestyle products marketer and seller Oasis Home Holding Bhd has generated positive investor interest for its initial public offering (IPO), which has been oversubscribed by 1.55 times ahead of its listing on the ACE Market of Bursa Malaysia. CEO Datuk Teoh Yee Seang said the positive response to the IPO reflects the market's confidence in the company's business model and growth strategy. He said the oversubscription indicates a strong interest in its omnichannel approach and commitment to delivering value to customers and shareholders. 'We look forward to the next steps as we proceed with our listing on the ACE Market of Bursa Malaysia and continue to execute on our long-term strategy. 'With the retail and live commerce industries poised for continued growth, this is the ideal time for Oasis Home to capitalise on these market conditions,' he said in a statement. Oasis Home is primarily engaged in the marketing and selling of consumer lifestyle products under both its in-house and third-party brands. By adopting an omnichannel marketing approach, the group utilises both online and offline sales channels to ensure a seamless and accessible retail journey for customers, strengthening the group's position across a wide spectrum of consumer touchpoints. Oasis Home offers a wide range of products, with approximately 5,228 stock keeping units (SKUs), of which approximately 2,233 SKUs are under its own in-house brands and approximately 2,995 SKUs are under third-party brands as of March 26, 2025. The group's IPO consists of 150 million ordinary shares, including a public issue of 100 million new shares priced at RM0.28 each. This makes up 20% of the enlarged share capital and is expected to raise around RM28 million. Additionally, 50 million existing shares—representing 10% of the enlarged shares—will be offered through a private placement to selected investors. Out of the 100 million new shares offered, 25 million were allocated to the Malaysian public. Oasis Home received 2,216 applications for a total of 38.67 million shares, valued at approximately RM10.83 million. This reflects an oversubscription rate of 1.55 times. The 10 million shares set aside for eligible directors and employees have been fully subscribed. Under the private placement, 2.5 million new shares and 50 million offer shares set aside for selected investors have been fully taken up. Meanwhile, the 62.5 million shares reserved for Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti) have also been fully placed out, following the clawback and reallocation provisions outlined in Section 4.3.4 of Oasis Home's prospectus dated April 25, 2025. All successful applicants will receive a notice of allotment by May 23, 2025. 'To position ourselves to leverage this favourable outlook, a significant portion of our IPO proceeds will be dedicated to expanding our operations, particularly scaling up our live commerce channels and enhancing our operational infrastructure. 'We plan to allocate RM13.7 million (48.93% of proceeds raised) to expand our live commerce sales channels, including launching at least 5 new live commerce channels and expanding our team. 'Additionally, RM3.6 million (12.86% of proceeds raised) will be utilised in establishing our own fulfilment centre, while RM2.0 million (7.14% of proceeds raised) will be set aside for setting up our new headquarter,' Teoh said. According to the independent market research by Providence Strategic Partners Sdn Bhd, Southeast Asia's live commerce market is projected to grow at a 2-year compounded annual growth rate (CAGR) of 42.5% to US$76.6 billion in 2027, from US$37.7 billion in 2025, driven by improved broadband penetration, widespread mobile device adoption, increased accessibility to digital payment methods, wider acceptance of digital payment methods, and more efficient logistics infrastructure. Oasis Home is scheduled to be listed on the ACE Market of Bursa Malaysia on Wednesday, May 28, 2025. Upon listing, the group will have a market capitalisation of approximately RM140.0 million based on the issue price of RM0.28 per share and the enlarged issued shares of 500.0 million Shares. MIDF Amanah Investment Bank Bhd is the principal adviser, sponsor, underwriter, and placement agent for the IPO. -end-
