Sumatec proposes share placement to raise funds for Kazakhstan oil venture


KUALA LUMPUR: Sumatec Resources Bhd has proposed to place out 348.27 million new shares, or 10% of its issued and paid-up share capital, to raise funds to finance its upstream oil and gas (O&G) operations in Kazakhstan.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

FIMM publicly reprimands three former UTs, PRS consultants for misconduct
ACE Market-bound SLGC aims to raise RM29.4mil via IPO
Malaysia's total palm oil stocks rise 7.48% to 2.82mil tonnes in August -�MPOB
Bursa Malaysia remains lower at midday amid external headwinds
Building Cost Index falls in Peninsular Malaysia, rises in Sabah, Sarawak in August - DOSM
HE Group unit secures RM25mil contract for power distribution system works
Malaysia property market remains resilient with RM105.12bil transactions in 1H 2026 - Amir Hamzah
Nvidia plans major expansion of data centre capacity in Australia to meet AI demand
Brent holds above US$100 as tanker attacks deepen supply fear
MIHAS knowledge hub expands into year-round platform - MATRADE

Others Also Read