Bursa highlights logo for Star Online (Business).
Bursa highlights on Jan 21
IT services provider Nexgram Holdings Bhd, which has come under the Securities Commission’s microscope, decides to abort its proposed takeover of packaging material and industrial machinery maker Ire-Tex Group that it launched two months ago. Read more
Amid calls to declassify land reclamation agreements in Penang, the state government has signed a supplemental agreement with Eastern & Oriental Bhd that gives the developer three extra years to meet the final reclamation deadline for the massive Seri Tanjung Pinang development. Prior to E&O taking over the project, land reclamation had been suspended due to the economic downturn. Perhaps a three-year buffer would help now in view of the slower economic growth. Read more
Japan’s parcel delivery giant Yamato Holdings is eyeing a 23% stake in Malaysian homegrown courier and logistics firm GD Express Carrier Bhd, starting with takin up a 10% share via private placement for which it is paying RM217.3mil. Read more
The See family, who founded Kian Joo Can Factory Bhd (KJCF) but was removed from the board, has not been successful in their court battles against KJCF’s management. But one of the See brothers, See Teow Koon, had a partial victory in court on Thursday, being awarded RM8.823mil in retirement gratuity, contractual bonus and salary arrears. KJCF will, however, appeal. Read more
Malayan Banking Bhd
has set up a US$3.0bil structured note programme. This allows Maybank to widen its product offerings by issuing structured notes in various countries (outside of the United States and Malaysia).
Limited time offer:
Just RM5 per month.
