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Bursa highlights on June 7
* Oil and gas service provider Sumatec Resources Bhd stands to lose up to US$13.064mil (RM52.97mil) as the corporate guarantor for former subsidiary Semua Chemical Shipping Sdn Bhd, which has been slapped with claims for payments under two ship charter agreements. Sumatec last year made a group pre-tax profit of RM38.4mil. Read more
* East Malaysian consumer packaged goods distributor Kim Teck Cheong Consolidated Bhd is strengthening its product offering by inking an agreement to distribute Anakku Sdn Bhd’s products, with trademarks such as Disney and Doraemon. Read more
* Berjaya Land Bhd and its wholly-owned subsidiary, Gateway Benefit Sdn Bhd, have disposed of 9.0 million shares in Berjaya Sports Toto Bhd for RM25.75mil -- resulting in a net loss of about RM5.57mil. Read more
* AmBank Group chairman Tan Sri Azman Hashim has ceased to be a substantial shareholder of ECM Libra Financial Group Bhd through the disposal of about 25.8% indirect interest in the financial services group, which is part of an earlier share sale agreement in conjunction with ECM Libra managing director and cofounder Lim Kian Onn’s current takeover exercise. Read more
* Plastic mould maker Luster Industries Bhd has appointed Masterskill Education Group Bhd’s former CEO How Soong Khong, 47, as its new managing director with effect from Tuesday. How’s wife Yap Yoke Chuan and brother-in-law Yap Kean Kok also joined as executive directors. Read more
* DRB-Hicom Bhd said on Tuesday that its unit Proton Holdings Bhd (PHB) had completed the proposed issuance of new PHB redeemable convertible cumulative preference shares to Minister of Finance Inc’s 99.9% owned subsidiary Govco Holdings Bhd. Read more
* Packaging specialist Ire-Tex Corp Bhd has been awarded as an approval holder of the feed-in tariff (FiT) by the Sustainable Energy Development Authority of Malaysia, which allows it to sell renewable energy (solar photovoltaics) at the FiT rate.
* Press statement: MMC Corp Bhd indirect unit MMC Engineering Services Sdn Bhd is currently participating in two major projects: Langat 2 water treatment plant and Petronas’ cogeneration power plant, On Monday, the power plant consortium in which it is a member, made an on-time delivery of the first of four massive gas turbines for the national oil company’s power plant in Pengerang. The turbine, weighing as much as an Airbus A380 superjumbo, arrived in Johor from Hamburg, Germany. Read more
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