Bursa highlights for Tuesday, March 8

Bursa highlights logo for Star Online (Business).

Bursa highlights on March 8

Malakoff Corp Bhd’s 35.7%-owned associate Almiyah Attilemcania SPA (AAS), which operates a seawater desalination plant in Algeria, has lost in the court of appeal to set aside a fine of 3.929 billion dinars (RM148.79mil) for an alleged breach of foreign exchange regulations. Now it plans to take its appeal to the Supreme Court. Read more

Electronics manufacturing services provider Inari Amertron Bhd has inked an MoU with Taipei-listed semiconductor firm PCL Technologies Inc with the aim of setting up a 50:50 JV in China. It has bought a 9.7% equity interest in PCL for T$355mil (RM44.7mil). Read more

Bumi Armada Bhd, which is challenging the termination of a RM1.46bil charter agreement involving its vessel Armada Claire, says the contract will only expire in August 2018. However, it feels it is premature to reveal publicly details of the events and/or circumstances leading up to the termination notice. Read more

Boustead Heavy Industries Corp Bhd (BHIC) is now expected to incur a lower net loss from the sale of its units’ three chemical tankers. In a circular to shareholders on the sale, BHIC says the net loss would be RM2.041mil compared with the RM12mil cited in its initial announcement on Dec 23 last year. Read more

Building material manufacturer Chin Hin Group Bhd, which made its debut on Bursa on Tuesday, ended trading at 82 sen, a 17-sen premium over its offer price. A total of 122.53 million shares were traded, with the day's high at 83.5 sen and low at 78 sen.

Microlink Solutions Bhd has appointed Chia Yong Wei its chief executive officer effective April 1. Chia, 39, succeeds the retiring Peter Yong Kar Seng, 51, at the information technology solutions provider. Read more