THREE things you need to know this week (weekly ended 07/03/2023).

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Sharing some Investing and Economic insights:


THREE things you need to know this week;

    1. Bank Negara is expected to keep the interest rates unchanged. Bank Negara’s this Thursday monetary policy committee meeting is among the key events this week.
    2. Two industry giants, Tesla and Amazon Web Services (AWS) will invest in Malaysia.
      • Tesla will open showrooms, services centres and establish a network of charging stations. This will create skilled jobs and increase participation of local companies in the electric vehicle ecosystem.
      • AWS would be launching a new infrastructure region in Malaysia, confirming that it intends to invest at least RM25.5bil by 2037.
    3. Lembaga Tabung Angkatan Tentera (LTAT) to take Boustead Holdings Bhd private. LTAT has made a voluntary takeover offer for the remaining 40.58% shares it doesn’t yet own in Boustead. Based on the number of shares – 822.51 million, or 40.58% of Boustead – LTAT is expected to fork out RM703.25 million for the purchase.
      • Boustead owns 52% of Pharmaniaga Bhd and 64.99% of Boustead Heavy Industrial Corp Bhd. On top of that, it also owns 57.42% of Boustead Plantation Bhd and 20.93% of Affin Bank Bhd.


Raiz is about helping you save & invest more – being able to save 5% of your salary is better than earning 5% return. Having a disciplined savings habit can help improve your financial position quicker (than spending time choosing the best fund manager).


Do you know?

What it means to take a company, Private?

It means that a large company purchases all the remaining stocks (on the stock exchange) of a company. The company that goes private is no longer traded on a public stock exchange.


LTAT currently owns 59.42% of Boustead. The remaining 40.58% shares are traded on the Bursa Malaysia (so the public can buy/sell). LTAT now wants to buy all 40.58% shares of Boustead on Bursa Malaysia so it will own 100%.

Boustead will then be a private company (and no longer a public company).


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