Top local stories
Success Transformer denies SEB stake sale plan: Success Transformer Corporation Bhd does not have plans to dispose of its stake Seremban Engineering Bhd
(SEB). It said on Wednesday it had injected additional resources including financial and management support to SEB despite the losses recorded in financial year ended Dec 31, 2014 and first half of year 2015. — StarBiz
Sabah-based Kim Teck Cheong to raise RM21m from IPO: Sabah-based consumer package goods maker and distributor Kim Teck Cheong Consolidated Bhd (KTC) plans to raise RM21.3mil from its initial public offering (IPO). KTC said on Wednesday it plans to use the proceeds to expand its warehousing facilities, warehousing construction and equipment purchase, amounting to RM14mil. The balance will be spent for working capital and listing expenses. It is slated to list on the ACE Market at the end of November. — StarBiz
S&P: Low oil price challenges Asia-Pac O&G firms: Asia-Pacific oil and gas (O&G) companies may have to make tough decisions if the fall in oil prices is prolonged, according to a Standard and Poor’s Ratings Services report on Wednesday. — Bernama
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