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New Straits Times
3 days ago
- Business
- New Straits Times
T7 Global proposes sweeping share plan, includes directors and family members
KUALA LUMPUR: T7 Global Bhd is seeking shareholder approval for a sweeping new long-term incentive plan (LTIP) that would allow it to issue or transfer shares equivalent to up to 15 per cent of its issued capital. The proposed LTIP includes allocations to all directors, the group chief executive officer (CEO) and several family members, according to a shareholder circular filed with Bursa Malaysia today. The plan is intended to replace a dormant employee share option scheme (ESOS) launched in 2017, under which not a single option was granted over its eight-year lifespan. T7 Global now proposes to terminate that scheme early and introduce a broader plan comprising not only stock options but also outright share grants, awarded with no cash payment required from recipients. Among the proposed recipients are executive chairman Tan Sri Nik Norzrul Thani, group CEO Tan Kay Zhuin and directors Tan Kay Vin and Tan Kay Shen, who are sons of T7 Global's major shareholder Tan Sri Tan Kean Soon. Their mother, Puan Sri Shirley Law, who is senior vice president of group support services, is also listed as a recipient. Also named is their uncle, Datuk Tan Kean Seng, deputy head of the Industrial Solutions Division. The LTIP, to be voted on at an extraordinary general meeting (EGM) on June 24, could see the company issuing as many as 175 million new shares, depending on how the plan is executed. While the ESOS component may generate working capital upon exercise, the share grant plan (SGP) would award shares at no cost to recipients, effectively diluting existing shareholders without raising funds. The board is also seeking shareholder approval to waive pre-emptive rights under Section 85 of the Companies Act, which would allow new shares issued under the LTIP to bypass existing shareholders. The proposal comes as T7 Global's share price has fallen sharply, tumbling more than 50 per cent, from a high of 53.5 sen in June 2024 to 26 sen in May 2025. This followed a private placement exercise completed in October 2024 that raised RM42.9 million and expanded the company's share base by over 81 million shares. Despite the timing, the company said the LTIP is necessary to retain and motivate key personnel, align management interests with shareholders and attract new talent. "The allocations to independent and non-executive directors are subject to vesting conditions and do not compromise their ability to act in the best interests of the company," it said in the circular. Still, the breadth of the proposal, extending to board members, C-suite executives and their relatives, may raise questions around governance, oversight and the concentration of incentives within a small circle of insiders. If approved, the plan will be in force for 10 years, with an LTIP committee appointed by the board having wide discretion over how shares are awarded, vested and priced. The exercise price for stock options may carry a discount of up to 10 per cent to the prevailing market price, while shares granted under the SGP would be based on the same reference but awarded free of charge. Bursa Malaysia has approved the plan in principle, subject to several conditions. Shareholders will vote on the resolution at T7 Global's EGM on June 24. Shares of T7 Global closed half a sen, or two per cent, higher at 25.5 sen, with 5.12 million shares traded. This valued the company at RM230.15 million.
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First Post
23-05-2025
- Politics
- First Post
Who is Bangladesh's Army Chief Waker-uz-Zaman at loggerheads with Yunus?
There are reports of tensions between Bangladesh leader Mohammed Yunus and the Army Chief General Waker-uz-Zaman over the holding of elections. Zaman is said to be unhappy with the interim government over its functioning. Amid speculations of Yunus' potential resignation, let's look at who is the army chief? read more Bangladesh's Chief of Army Staff General Waker-uz-Zaman gestures during an interview with Reuters at his office in the Bangladesh Army Headquarters, in Dhaka, Bangladesh, September 23, 2024. File Photo/Reuters Bangladesh is once again on the brink of a political upheaval. Tensions have been reported between the interim government leader, Professor Mohammed Yunus, and Bangladesh's Army Chief General Waker-uz-Zaman over holding the general elections in the South Asian country. There are also speculations that Yunus could offer his resignation. The Nobel laureate formed the interim government after the then Bangladesh Prime Minister Sheikh Hasina resigned and fled the country in the wake of widespread anti-government protests last August. STORY CONTINUES BELOW THIS AD The recent developments have thrown Bangladesh's army chief into the limelight. Who is Waker-uz-Zaman? Let's take a closer look. Meet Waker-uz-Zaman Born in Dhaka in 1966, Bangladesh Army Chief General Waker-uz-Zaman has served nearly four decades in the military. A graduate of the Bangladesh Military Academy, he earned a Master's degree in Defence Studies from the National University of Bangladesh and completed a Master of Arts in Defence Studies from King's College, London. He joined the infantry in 1985 and subsequently rose through the ranks to command Bangladesh's Infantry Battalion, as per The Hindu report. Zaman has served as an instructor at the School of Infantry and Tactics, Non-commissioned Officers' Academy and the Bangladesh Institute of Peace Support Operations Training. He was also part of the UN peacekeeping affairs of the Bangladesh Army. Zaman also has experience as Military Secretary in the Army Headquarters and Principal Staff Officer at the Armed Forces Division under Prime Minister Hasina. As the principal staff officer, he played a big role in national defence strategies and international peacekeeping. Zaman's contributions to modernising the army earned him the Army Medal of Glory (SGP) and the Extraordinary Service Medal (OSP), reported Indian Express. When India warned Hasina about Zaman General Zaman took over the post of Bangladesh's Army chief in June 2024, succeeding General SM Shafiuddin Ahmed. However, before his appointment, Indian intelligence agencies had warned Dhaka against him. Top sources in Hasina's Awami League told News18 that a senior Indian government official had contacted the then Bangladesh PM against Zaman's appointment, believing that the incoming army chief may be 'pro-Pakistan'. Hasina listened and thanked the official for their concern, but did not stop Zaman's appointment. STORY CONTINUES BELOW THIS AD 'The objection was on two counts. One, on technical grounds as Zaman wasn't in his best health then. Two better candidates were overlooked, New Delhi had pointed out. The second point was strategic as Zaman was pro-Pakistan. However, it seems Waker-Uz-Zaman finally got the post because he was related to Sheikh Hasina," Bangladeshi journalist Shahidul Hasan Khokon told News18. Zaman is married to academic Sarahnaz Kamalika Zaman, the eldest daughter of late General Muhammad Mustafizur Rahman. Sarahnaz's father was the Army chief in the late 1990s, during Hasina's first prime ministerial stint. General Rahman was married to a cousin of Sheikh Mujibur Rahman. This makes General Zaman a distant relative of Hasina. Hasina's downfall puts focus on Zaman As Hasina 's government fell last August due to student-led anti-government protests, General Zaman announced the formation of an interim government. Confirming Hasina's resignation, he said: 'I'm taking all responsibility (of the country). Please cooperate.' Dressed in his military uniform, Zaman was on state television, telling the public, 'We will establish an interim government. Our country has endured significant suffering — the economy is in turmoil, and many lives have been lost. It is crucial to end the violence. I hope my address today will contribute to restoring stability.' STORY CONTINUES BELOW THIS AD After the Hasina government's downfall, the Army took over responsibility for law and order in the country. Is there rift between Zaman and Yunus? Nobel Peace Prize laureate Muhammad Yunus was named chief adviser of Bangladesh's interim government on August 6, 2024, a day after Hasina fled the country and came to India. In an interview with Prothom Alo in December, General Zaman announced support for the interim government. However, he also condemned the authorities for failing to rebuild the policing structure. 'At the end of the day, it is my soldiers who have to take to the field. They have been five months in the field now,' he said. Zaman's meeting with former PM Khaleda Zia at her residence in January gave rise to speculations about the Bangladesh Army chief's next move. Now, the friction between Zaman and Yunus is out in the open. The interim government has indicated it cannot hold elections by December. This was part of the discussions led by Yunus of the council of advisers late Thursday (May 22), as per The Hindu report. This came a day after Zaman held a closed-door meeting with Commanding Officers where he expressed displeasure with the functioning of the interim government and said, 'Elections must be held by December and that only an elected government should determine the nation's course and not an unelected administration'. STORY CONTINUES BELOW THIS AD There are reports that Yunus is threatening to resign. If he steps down, would Zaman come forward and take direct control of Bangladesh? Only time will tell. With inputs from agencies
The Hindu
20-05-2025
- Sport
- The Hindu
Table Tennis World Championships 2025: Ghorpade-Chitale pair progress to round of 16 in women's doubles
Indian women's doubles pair of Yashaswini Ghorpade and Diya Chitale advanced to pre-quarterfinals but their compatriots Sutirtha Mukherjee and Ayhika Mukherjee were knocked out of the World Table Tennis Championships, here on Monday. Chitale and Ghorpade rallied from a game down to beat the Singaporean duo of Zeng Jian and Ser Lin Qian 6-11, 11-6, 11-6, 11-9 in their round-of-32 clash. However, the 14th-seeded Indian pair of Sutirtha and Ayhika suffered a straight-game defeat to the lower-ranked German duo of Annett Kaufmann and Xiaona Shan, losing 1-11, 11-13, 7-11 in just 23 minutes. India's mixed doubles campaign also came to an end with Chitale and Manush Shah losing 0-3 (8-11, 9-11, 2-11) to the Korean pair of Oh Junsung and Kim Nayeong. It turned out to be a disappointing day for Shah, who endured a hat-trick of defeats. After the mixed doubles loss, he was ousted from the men's singles event by sixth seed Felix Lebrun of France, going down 0-4 (5-11, 6-11, 6-11, 9-11) in the second round. Later, Shah also exited the men's doubles competition. Partnering Manav Thakkar, the eighth-seeded Indian duo lost tamely 5-11, 9-11, 11-8, 5-11 to the unseeded German pair of Benedikt Duda and Dang Qiu. Indian Results Round of 32 Mixed Doubles - Manush Shah/Diya Chitale lost 3-0 (11-8, 11-9, 11-2) to Oh Junsung/Kim Nayeong (KOR) Women's Doubles - Ayhika/Sutirtha lost 3-0 (11-1, 13-11, 11-7) to Annett Kaufmann/Xiaona Shan (GER) Women's Doubles - Yashaswini Ghorpade/Diya Chitale beat Zeng Jian/Zhang Wanling (SGP) 3-1 (6-11, 11-6, 11-6, 11-9) Men's Doubles - Manush Shah/Manav Thakkar lost 3-1 (11-5, 11-9, 8-11, 11-5) to Dang Qiu/Benedikt Duda (GER) Round of 64 Manush Shah lost 4-0 (11-5, 11-5, 11-6, 11-9) to Felix Lebrun (FRA)
Daily Express
16-05-2025
- Sport
- Daily Express
Aaron-Soh set up all-Malaysian men's doubles quarter-finals in Thailand Open
Published on: Friday, May 16, 2025 Published on: Fri, May 16, 2025 By: Bernama Text Size: Aaron-Wooi Yik will next face compatriots Wan Arif Wan Junaidi-Yap Roy King, who earlier defeated another young Malaysian men's doubles pair, Kang Khai Xing-Aaron Tai, 21-11, 21-11, in just 24 minutes. - Bernama pic MALAYSIA'S national men's doubles pair, Aaron Chia-Soh Wooi Yik, advanced to the quarter-finals of the Thailand Open after edging out Japan's Hiroki Midorikawa and Kyohei Yamashita at the Nimibutr Stadium today. The reigning Asian men's doubles champions needed just 38 minutes to secure a 21-17, 21-17 straight sets victory against the world-ranked number 59 Japanese pair. Advertisement Wooi Yik noted that their performance was significantly better compared to the first round, as they successfully implemented their coaches' strategies. 'Our attacking game plan worked well, and we were quite patient throughout. In the second game, we were a bit in a rush before the interval, but after that, we adjusted the rhythm, and it paid off,' he told Bernama after the match on Thursday. Aaron-Wooi Yik will next face compatriots Wan Arif Wan Junaidi-Yap Roy King, who earlier defeated another young Malaysian men's doubles pair, Kang Khai Xing-Aaron Tai, 21-11, 21-11, in just 24 minutes. Aaron remarked that it was encouraging to see the juniors performing well and expressed hope for a strong showing in the upcoming match. 'It's a positive sign for the country that the juniors are stepping up. Hopefully, they will continue to give their best tomorrow. We'll have to play our best game, and may the better pair progress,' he said. Meanwhile, another Malaysian pair, Man Wei Chong-Tee Kai Wun, fell to Denmark's William Kryger Boe-Christian Faust Kjaer in a hard-fought 46-minute battle, losing 21-15, 19-21, 18-21. In the men's singles, professional shuttler Aidil Sholeh Ali Sadikin put up a strong fight against world number 20 Lu Guang Zu of China but ultimately bowed out. Aidil Sholeh claimed the first game 21-18 but ran out of steam in the second and third, losing 16-21, 14-21, in a match that lasted over an hour. Other results (Notes: All Malaysian unless stated and [ ] denotes seedings) Men's Singles: [5] Loh Kean Yew (SGP) bt Nhat Nguyen (IRL) 21-5, 21-6 [4] Kodai Naraoka (JPN) bt Weng Hong Yang (CHN) 21-14, 21-9 Ramus Gemke (DEN) bt [3] Chou Tien Chen (TPE) 15-21, 21-16, 21-13 Men's Doubles: [1] Fajar Alfian-Muhammad Rian Ardianto (INA) bt Lu Ching Yao-Wei Chun Wei (TPE) 21-23, 21-19, 21-15 [5] Kittinupong Kerden-Dechapol Puavaranukroh (THA) bt Jin Yong-Na Sung Seung (KOR) 21-16, 21-16 [7] Liu Kuang Heng-Yang Po Han (TPE) bt Kang Min Hyuk-Ki Dong Ju (KOR) 21-8, 21-19 Women's Singles: [2] Chen Yu Fei (CHN) bt Sim Yu Jin (KOR) 21-16, 21-12 [3] Tomoka Miyazaki (JPN) bt Tung Ciou-Tong (TPE) 21-18, 21-14 [1] Pornpawee Chochuwong (THA) bt Unnati Hooda (IND) 21-14, 21-11 Women's Doubles: [2] Febriana Dwipuji Kusuma-Amallia Cahaya Pratiwi (INA) bt Jacqueline Cheung-Catherine Choi (CAN) 21-11, 21-11 Rui Hirokami-Sayaka Hobara (JPN) bt [3] Treesa Jolly-Gayatri Gopichand Pullela (IND) 22-20, 21-14 Mixed Doubles: [2] Feng Yan Zhe-Huang Dong Ping (CHN) bt Po Li Wei-Chang Ching Hui (TPE) 21-15, 21-9 [3] Tang Chun Man-Tse Ying Suet (HKG) bt Zhu Yi Jun-Zhang Ci (CHN) 23-21, 21-15 * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Sun
16-05-2025
- Sport
- The Sun
Aaron-Soh set up all-Malaysian men's doubles quarter-finals
MALAYSIA'S national men's doubles pair, Aaron Chia-Soh Wooi Yik, advanced to the quarter-finals of the Thailand Open after edging out Japan's Hiroki Midorikawa and Kyohei Yamashita at the Nimibutr Stadium today. The reigning Asian men's doubles champions needed just 38 minutes to secure a 21-17, 21-17 straight sets victory against the world-ranked number 59 Japanese pair. Wooi Yik noted that their performance was significantly better compared to the first round, as they successfully implemented their coaches' strategies. 'Our attacking game plan worked well, and we were quite patient throughout. In the second game, we were a bit in a rush before the interval, but after that, we adjusted the rhythm, and it paid off,' he told Bernama after the match on Thursday. Aaron-Wooi Yik will next face compatriots Wan Arif Wan Junaidi-Yap Roy King, who earlier defeated another young Malaysian men's doubles pair, Kang Khai Xing-Aaron Tai, 21-11, 21-11, in just 24 minutes. Aaron remarked that it was encouraging to see the juniors performing well and expressed hope for a strong showing in the upcoming match. 'It's a positive sign for the country that the juniors are stepping up. Hopefully, they will continue to give their best tomorrow. We'll have to play our best game, and may the better pair progress,' he said. Meanwhile, another Malaysian pair, Man Wei Chong-Tee Kai Wun, fell to Denmark's William Kryger Boe-Christian Faust Kjaer in a hard-fought 46-minute battle, losing 21-15, 19-21, 18-21. In the men's singles, professional shuttler Aidil Sholeh Ali Sadikin put up a strong fight against world number 20 Lu Guang Zu of China but ultimately bowed out. Aidil Sholeh claimed the first game 21-18 but ran out of steam in the second and third, losing 16-21, 14-21, in a match that lasted over an hour. Other results (Notes: All Malaysian unless stated and [ ] denotes seedings) Men's Singles: [5] Loh Kean Yew (SGP) bt Nhat Nguyen (IRL) 21-5, 21-6 [4] Kodai Naraoka (JPN) bt Weng Hong Yang (CHN) 21-14, 21-9 Ramus Gemke (DEN) bt [3] Chou Tien Chen (TPE) 15-21, 21-16, 21-13 Men's Doubles: [1] Fajar Alfian-Muhammad Rian Ardianto (INA) bt Lu Ching Yao-Wei Chun Wei (TPE) 21-23, 21-19, 21-15 [5] Kittinupong Kerden-Dechapol Puavaranukroh (THA) bt Jin Yong-Na Sung Seung (KOR) 21-16, 21-16 [7] Liu Kuang Heng-Yang Po Han (TPE) bt Kang Min Hyuk-Ki Dong Ju (KOR) 21-8, 21-19 Women's Singles: [2] Chen Yu Fei (CHN) bt Sim Yu Jin (KOR) 21-16, 21-12 [3] Tomoka Miyazaki (JPN) bt Tung Ciou-Tong (TPE) 21-18, 21-14 [1] Pornpawee Chochuwong (THA) bt Unnati Hooda (IND) 21-14, 21-11 Women's Doubles: [2] Febriana Dwipuji Kusuma-Amallia Cahaya Pratiwi (INA) bt Jacqueline Cheung-Catherine Choi (CAN) 21-11, 21-11 Rui Hirokami-Sayaka Hobara (JPN) bt [3] Treesa Jolly-Gayatri Gopichand Pullela (IND) 22-20, 21-14 Mixed Doubles: [2] Feng Yan Zhe-Huang Dong Ping (CHN) bt Po Li Wei-Chang Ching Hui (TPE) 21-15, 21-9 [3] Tang Chun Man-Tse Ying Suet (HKG) bt Zhu Yi Jun-Zhang Ci (CHN) 23-21, 21-15
