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Bursa highlights on Feb 10
The proposed joint venture between Petronas Gas Bhd and Sabah state-owned Sabah Energy Corp to develop LNG regasification facilities in Lahad Datu, Sabah, has been scrapped. Although the shareholders agreement was signed back in September 2012, the project was suspended soon after following the Lahad Datu armed intrusion in February 2013. Read more
Telecommunication services provider XOX Bhd may have priced its renounceable rights issue, which comes with free warrants, at a level that most investors are not willing to pay at this time. XOX had given the indicative issue price as 10 sen per rights share in its circular to shareholders last year but decided to fix the actual price at 20 sen apiece last month. As at the closing date, the rights issue achieved a take-up rate of only 56.29%. Read more
Passenger traffic at Malaysian airports was back on the growth path in January after three months of year-on-year contraction. Airport operator Malaysia Airports Holdings Bhd attributes the growth to pre-Chinese New Year traffic and the additional traffic from new airlines that started operations in 2015. Read more
Consumer electronic product distributor Compugates Holdings Bhd’s timber unit has been awarded a letter of offer by a Papua New Guinea company, Lower Sepik Holdings Ltd, to carry out logging over 70,000ha of land -- an area the size of Singapore -- known as Lower Sepik Forest Area. Read more
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