Why Does Malaysia Want to Seize $700 Million From a Dead Tycoon?
But the Malaysian government is still pressing ahead with its investigation into the late businessman over accusations that he hid parts of his vast fortune — charges he denied.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News24
27 minutes ago
- News24
Sibiya asked to take leave; Standard Bank manager's bail bid: Today's top 7 stories in 7 minutes
News24 brings you the top 7 stories of the day. News24 brings you the top stories of the day, summarised into neat little packages. Read through quickly or listen to the articles via our customised text-to-speech feature. Lieutenant General Shadrack Sibiya asked to take leave of absence amid Mkhwanazi claims - Lieutenant General Shadrack Sibiya has been asked to take a leave of absence. - This follows allegations of links to criminal syndicates and interference in murder investigations. - The allegations were made by KwaZulu-Natal police commissioner Lieutenant General Nhlanhla Mkhwanazi. Tammy Petersen/News24 Standard Bank manager in R18m cocaine bust shares rags-to-riches story in bail bid - Raed Cupido, a bank manager and businessman, is charged with drug dealing and illegal gun possession after a bust at a storage unit containing cocaine, an AK-47, and other weapons. - Cupido portrayed himself as a successful citizen with multi-million rand properties, detailing his journey from a financially struggling student to a high-earning professional with a property portfolio and international travel. - Christopher Carelse, arrested as a co-accused, also intends to plead not guilty, stating he is a business manager with a family and property in Gauteng. Ashraf Hendricks/GroundUp Judge orders WhatsApp, Instagram to stop user posting sexual content of SA school kids - The Gauteng High Court ordered Meta to shut down WhatsApp channels and Instagram profiles sharing explicit content of South African schoolchildren and to identify the perpetrator. - The distribution of the material posed immediate harm, prompting 'extremely urgent legal action' to prevent massive release threats and protect children from irreparable damage. - The illegal accounts solicited explicit content from minors and distributed it widely, violating child rights and spreading defamatory claims tied to social media handles. Thulani Mbele/Gallo Images DA claims Trump administration denied Mcebisi Jonas' visa, rejected credentials - The DA claims the US denied President Ramaphosa's special envoy, Mcebisi Jonas, a diplomatic visa in May. - The DA says Ramaphosa was aware Jonas was not welcome in Washington and was urged to appoint an alternative envoy. - Ramaphosa appointed Jonas as a special envoy to the US in April to foster partnerships and advance South Africa's interests. WesBank, GWM in 'game-changer' deal that promises to cut car repayments - WesBank and GWM have agreed to a new vehicle finance partnership that will lower car prices and boost affordability for South African buyers. - GWM will take on more financial risk, allowing WesBank to offer better pricing and more flexible repayment terms to dealers. - WesBank expects more Chinese automakers to enter the South African market in 2025, increasing competition and further disrupting the market. Richard Huggard/Gallo Images Bok No 8 Jasper Wiese cops 4-game ban for headbutt - Jasper Wiese has been banned for four Tests after receiving a red card for headbutting an opponent in the Springboks' win over Italy. - He will miss the upcoming Test against Georgia and the first three Rugby Championship matches. - Wiese will be eligible to play in the Boks' last three Rugby Championship games.
Wall Street Journal
34 minutes ago
- Wall Street Journal
How JPMorgan Is Playing the Private Lending Boom
JPMorgan Chase CEO Jamie Dimon says Wall Street's hottest trend is a recipe for a financial crisis, but he's investing billions to get in on it anyway. His plan: swoop in strategically and profit if there's a meltdown. Read more on how the nation's largest bank is playing the private-credit boom:
Yahoo
43 minutes ago
- Yahoo
Sino Biopharma spends $951m to acquire China-based LaNova Medicines
Hong Kong-listed Sino Biopharmaceutical will acquire China-based oncology specialist LaNova Medicines in a deal that will not exceed $951m, representing one of the largest transactions within the Asia-Pacific pharmaceutical arena this year. Sino already owns a 4.91% stake courtesy of an investment in November 2024, with the company now seeking to purchase the remaining 95.09% it does not own. At the time, Sino spent 142 million yuan ($19.80m) to initiate its ownership involvement with the biotech. The net payment made by Sino to acquire LaNova will be approximately $500.9m, a figure that excludes the estimated cash and bank deposits, according to a company document outlining the terms of the transaction. Following the completion of the nearly billion-dollar deal, LaNova Medicines will become an indirect wholly owned subsidiary of Sino. A timeline of 30 business days has been set by the companies to finalise the deal. Sino revealed the acquisition agreement after trading hours on 15 July. The share price in the company had climbed 3.6% by market close. LaNova's drug development focuses on tumour immunity and the tumour microenvironment. The company has particular emphasis on antibody-drug conjugates (ADCs) and has built several platforms within this modality. Sino stated the acquisition would strengthen its research and development capabilities, subsequently enhancing competitiveness and innovation in the oncology market. LaNova's pipeline has already been raided twice by US big pharma companies. In 2023, AstraZeneca licensed LM-305, a G-protein targeting-ADC, for $600m. A year later, MSD outlaid more than $3bn to secure global rights to LM-299, an anti-PD-1/VEGF bispecific antibody. According to Sino, LaNova Medicines has two projects in the registration clinical stage, six projects in the Phase I/II clinical trial stage, and more than ten projects in the preclinical research stage. In a statement, Sino said: 'Through the in-depth synergy and integration of the advantageous resources of both parties, not only will the potential value of LaNova Medicines be fully released, but also [Sino's] innovation capability will be comprehensively enhanced." The company added that the transaction will help towards its 'strategic goal of advancing towards a world-class innovative pharmaceutical enterprise'. China's economy grew 5.2% year-on-year in Q2, defying the lingering effects of US President Trump's trade war and reinforcing its position as the world's top exporter. This economic resilience is mirrored in China's growing role in the global oncology market. Despite economic pressures, licensing promising drug candidates from Chinese biotechs is becoming a well-trodden path for many US big pharma companies. Licensing deals between US and Chinese biopharma companies hit record highs last year, a 280% increase from 2020, according to analysis by GlobalData. Across big pharma, transactions rose 66% from $16.6bn in 2023 to $41.5bn in 2024, demonstrating that China is still the go-to place to discover pipeline candidates. For deals specific to US companies, the analysis found that total deal value rose from $15.7bn in 2023 to $21.3bn in 2024. GlobalData is the parent company of Pharmaceutical Technology. "Sino Biopharma spends $951m to acquire China-based LaNova Medicines" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
