Latest news with #RM516
Barnama
7 days ago
- Barnama
Sepang Police Raid Five Premises Suspected Of Conducting Illegal Bitcoin Mining Activities
SEPANG, June 16 (Bernama) -- Police raided five premises suspected of conducting illegal Bitcoin mining activities during a special operation on the cryptocurrency mining machines here last Friday. Sepang district police chief ACP Norhizam Bahaman said five separate teams conducted the raids simultaneously, between 10 am and 7 pm, on three premises in Bandar Baru Salak Tinggi and two in Putra Perdana. He said the investigation was initiated by him a few months ago in addition to complaints from the public. The special operation also involved a special team from the Tenaga Nasional Bhd (TNB) headquarters in Bangsar, Kuala Lumpur. Preliminary investigations found that each premises could generate profits of around RM15,000 to RM20,000 per month through illegal bitcoin mining. "We were informed that a syndicate had stolen electricity supply to carry out the Bitcoin mining activities, with losses to TNB amounting to RM86,089 a month,' he said in a press conference here today. He said the total losses incurred by TNB in the Sepang area from January to this month are estimated to be around RM516,534. Norhizam said that as a result of the raids, 143 Bitcoin mining machines and items used for that activity, worth more than RM171,600, were seized. The police have arrested four local men, aged between 20 and 40 years old, who acted as guards of the premises, on one of the premises in Putra Perdana.
New Straits Times
02-05-2025
- Business
- New Straits Times
Eco World International jumps 21pct after move to scrap tie-up with EcoWorld Malaysia
KUALA LUMPUR: Shares of Eco World International Bhd surged as much as 20.9 per cent in early trade today after the company announced it was ending a long-standing collaboration with Eco World Development Group Bhd (EcoWorld Malaysia). At 10.30am, the stock jumped 4.5 sen to 26 sen with nearly 10 million shares traded. This brought its market capitalisation to RM516 million. While the counter is down 3.7 per cent year-to-date, it has rallied 30 per cent over the past week. EcoWorld Malaysia also edged up, gaining one sen or 0.53 per cent to RM1.89. On Wednesday, Eco World International proposed to terminate a 2016 agreement with EcoWorld Malaysia that restricted both companies from operating in each other's markets. Under the agreement, Eco World International was barred from undertaking property development in Malaysia, while EcoWorld Malaysia was limited to domestic projects unless carried out through the former. The decision follows mounting challenges in Eco World International's key overseas markets, namely the United Kingdom and Australia. The move would also see Eco World International change its name to EWI Capital Bhd.
