KUALA LUMPUR: Shares of Brahim's Holdings Bhd rose at mid-morning on Tuesday following negotiations to acquire a local food and beverage (F&B) company.
At 11.07am, its shares rose 12 sen to 98 sen with some 10.2 million shares traded between 87 sen and RM1.02.
The FBM KLCI was up 0.09 of a point to 1791.83. Turnover was 960.68 million shares valued at RM696.78mil. There were 322 gainers, 273 decliners and 301 counters unchanged.
Over the weekend, a business weekly had reported that Brahim’s was about to venture into another F&B venture in a bid to reduce its dependency on the catering business.
According to the report, Brahim’s has its sights set on TCRS Restaurants Sdn Bhd, the owner and operator of The Chicken Rice Shop, Sweet Chat and Dubu-Dubu in Malaysia.
“However, at this juncture, terms and conditions of the proposed acquisition have yet to be agreed upon.
"Once the terms and conditions have been agreed and an agreement has been executed for the proposed acquisition, the company shall make an immediate announcement, which shall be in compliance with the Main Market listing requirements of Bursa Malaysia Securities,” Brahim’s said in a filing with Bursa Malaysia.
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