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Bursa highlights on Dec 21
Axiata Group Bhd is expanding into the Nepal market by buying an 80% stake in the number one mobile operator, Ncell Pte Ltd, for US$1.365bil (RM5.907bil). Ncell has 13 million subscribers, representing about half of the subscriber market there. Read more
DRB-Hicom Bhd, in a single property sale transaction, has more than doubled its earnings per share for this financial year ending March 31, 2016. Its indirect unit has sold a 90% stake in The Verge shopping mall in Singapore for S$285.3mil (RM868.4mil), which gives it net proceeds of RM575.4mil. Read more
Lion Diversified Holdings Bhd’s unit Excel Step Investments Ltd has managed to get its bondholders to extend the due date of its bond redemption payment of US$4mil (RM17.19mil) to Jan 31 next year, hence extricating itself from an event of default - at least for now. Read more
Berjaya Land Bhd’s net profit for the second quarter ended Oct 31 soared to RM208.3mil compared with RM8.97mil a year ago, thanks to gains from selling a 50% stake in its Kyoto hotel and residential development project and revaluation of the fair value of its remaining 50% interest. And no, the company is not recommending any dividend. Read more
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