Bursa highlights logo for Star Online (Business).
Bursa highlights on Jan 19
Guinness Anchor Bhd, in a special toast celebrating its 50th anniversary, is giving its shareholders special and interim dividends totalling 50 sen per 50-sen share. GAB has also managed to become more cost-efficient in the financial quarter just ended, boosting its pre-tax profit by 16% for the period. Read more
Mould and die maker MQ Technology, which is venturing into a theme park business in Malacca, made multiple proposals today, including a par value reduction, share consolidation, and rights issue with warrants. This exercise is intended to wipe out its accumulated losses and has enough funds for its share of the theme park project. Read more
A proposed RM168mil luxury apartment project, to be located along Jalan U-Thant, will have to go on without Yong Tai Bhd’s participation. The developer has called off the planned joint venture after KL City Hall (DBKL) imposed a limit on the project’s density which is lower than the 128 apartment units expected by Yong Tai. Read more
Lay Hong Bhd’s recent MoU with Tokyo-listed fresh meat company NH Foods Ltd (which will also become a substantial shareholder of the poultry player) may have fired up investors. Still, was the steep 65-sen (8.3%) rise in its share price today a case of counting one’s chickens before they’re hatched? Bursa Malaysia -- which recently queried Lay Hong on the long 12-month validity of the MoU -- today questioned it on the share price spike. But Lay Hong’s board says it is not aware of any unannounced corporate development, rumour or report that might have caused the surge. Read more
BTM Resources Bhd has hit the brakes on its discussion to buy a majority stake in Pendragon Auto, an exclusive BMW dealer covering the East Coast. No reason is given except that Pendragon has mentioned it is unable to proceed with any share sale. Read more
It may be the end of the road for Cybertowers Bhd as a listed company following Bursa Malaysia Securities’ rejection of the vehicle tracking system operator’s request for more time to submit a regularisation plan. Bursa will suspend the share trading and aims to de-list Cybertowers’ securities on Feb 2 unless there is an appeal. It has been more than two years since the company triggered the Guidance Note 3 criteria (back in October 2013). Read more
Former CEO Datuk Norbik Bashah Idris emerged triumphant at the recent adjourned AGM of ICT security services provider Scan Associates Bhd, where he and a former director were voted into the board. But it is perhaps too early to call the winner in the ongoing boardroom tussle -- the board composition changes again today after a new director is unexpectedly appointed. Read more
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