Bursa highlights logo for Star Online (Business).
Bursa highlights on Feb 12
The Securities Commission has given conditional approval for Sona Petroleum Bhd’s acquisition of the Stag Oilfield offshore Western Australia. But it also noted that the cash price of US$50mil (RM207.8mil) was deemed “not fair” by an independent valuation expert as the amount exceeded the fair market value. Read more
Loss-making apparel maker and retailer Yen Global Bhd, whose share price has risen 17.8% since the start of the year, tells Bursa Malaysia that it is not aware of any unannounced corporate development or other explanations to account for the rise in price and volume of its shares. It made a pre-tax loss of RM4.8mil in the financial year ended July 31, 2015, and has continued to report losses since. Yen shares closed 1 sen higher on Friday at 49.5 sen, with 15.029 million shares being traded. Read more
China-based Maxwell International Holdings Bhd, which revealed on Thursday that there are “issues” relating to the annual audit for 2015, is considering to engage an independent party to carry out an investigative audit. It also noted that its unit paid 92.4 million yuan (RM58.5mil) to set up 390 marketing billboards and electronic signboards in China, for which a director, who recently resigned, said there had been no satisfactory justification. Read more
Two days after XOX Bhd announced that its renounceable rights issue of shares (with free warrants attached) was undersubscribed by 43.71%, property development and construction firm Tiger Synergy Bhd disclosed that its 2-for-1 rights issue of shares (with warrants and bonus shares) was undersubscribed by a whopping 70.1% as at the close of acceptance on Feb 3. The issue price is 8 sen per rights share, while Tiger Synergy shares closed at 5.5 sen on Friday -- a fall of half a sen -- with 75.51 million shares changing hands.
Malakoff Corp Bhd’s indirect unit Port Dickson Power Bhd has sealed the deal to supply electricity to Tenaga Nasional Bhd for an additional three years to Feb 28, 2019. Read more
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