Latest news with #RM6.61
New Straits Times
26-05-2025
- Business
- New Straits Times
Eco-Shop slips on second trading day after upbeat debut
KUALA LUMPUR: Eco-Shop Marketing Bhd saw its share price dip in early trade on its second day of listing on the Main Market of Bursa Malaysia, falling 4.17 per cent to RM1.15 as of 10.08am. The counter opened at RM1.19, its intraday high so far and already below last Friday's closing price of RM1.20, before retreating to RM1.15, the morning's low at press time. This came after the discount retailer defied market expectations with a solid debut at the end of last week. The initial public offering (IPO) was priced at RM1.13 per share. With 19.61 million shares changing hands, Eco-Shop was the third most actively traded stock on Bursa Malaysia this morning. At RM1.15 per share, the company's market capitalisation stood at RM6.61 billion. Whether the stock can regain ground remains to be seen, but its weaker showing likely reflects broader market jitters and fragile sentiment amid global uncertainties. Eco-Shop's listing came amid a stretch of subdued IPO debuts, with most counters closing below their offer price on the first day of trade. Its first-day performance bucked a recent trend in which many new Main Market listings struggled to hold above their IPO prices. Between March and May, most Main Market IPOs recorded either negative or modest first-day gains, except for Reach Ten Holdings Bhd and Hi Mobility Bhd, amid cautious investor sentiment. Eco-Shop's IPO, Malaysia's largest in eight months, raised RM974 million in total. The company plans to channel the proceeds into expanding its retail and distribution footprint, repaying borrowings and upgrading its information technology infrastructure. Founded in 2003, Eco-Shop operates 349 outlets across Malaysia as of March 2025, offering everyday items such as snacks, kitchenware and household essentials. The brand is known for its fixed pricing model, RM2.60 in West Malaysia and RM2.80 in East Malaysia, which has resonated with price-sensitive consumers.
Malay Mail
23-04-2025
- Politics
- Malay Mail
‘Politically motivated': Cambodian opposition figure Rong Chhun faces trial over incitement charge
PHNOM PENH, April 23 — An outspoken Cambodian politician went on trial on incitement charges today, in the latest legal case against a prominent opposition figure. Rong Chhun, an adviser to the Nation Power Party, which was founded in 2023, faces up to four years in prison if he is convicted on charges of incitement to cause serious social unrest. The charges were brought last year after he met victims of land disputes, and comments he made about Prime Minister Hun Manet's visit to the border area with Vietnam. The incitement charge is frequently used by Cambodian authorities against activists. As he arrived at court, Rong Chhun told reporters the case against him was 'politically motivated'. 'The charge against me related to the repeated incitement to cause social instability is unacceptable because it doesn't reflect the truth,' he said. 'I am not worried because I do social work. We are doing political work so we always face obstacles. But we are not worried because we did nothing wrong, we just seek justice and resolutions for people.' Rong Chhun was previously arrested in 2020 after accusing the Cambodia government of 'irregularities' in the demarcation of Cambodia's eastern border with Vietnam. He was sentenced to two years in jail in August 2021 but was released three months later by an appeal court, with the remaining sentence suspended for three years. Sun Chanthy, the founder of the Nation Power Party, was sentenced to two years in jail in December for inciting social disorder. Rights groups have long accused Cambodia's government of using legal cases as a tactic to silence opposition voices and legitimate political dissent. Another opposition leader was fined $1.5 million (RM6.61 million) in July after remarking that Cambodia was 'getting worse in terms of democracy' under the leadership of Hun Manet. Hun Manet assumed power in 2023 after his father, Hun Sen, stepped down following nearly four decades of rule. — AFP
