Oil palm plantation firm TANAH MAKMUR BHD, listed in July 2014, is set to be taken private by the Tengku Mahkota of Pahang, Tengku Abdullah Al-Haj Sultan Ahmad Shah. And entitled shareholders will receive a payout of RM1.80 per share, a premium of more than 20% above the last closing price. Read more
DAYANG ENTERPRISE HOLDINGS BHD has clinched a contract worth between RM25mil and RM42mil to provide topside maintenance services for Petroliam Nasional Bhd’s associate firm, Kebabangan Petroleum Operating Company Sdn Bhd. Read more
Pesticide manufacturer IMASPRO Corp Bhd aims to expand in the business-to-consumer (B2C) sector and tap new markets by acquiring mosquito coil and insecticide seller Mosfly International Sdn Bhd for RM26mil cash. Read more
Special purpose acquisition company Cliq Energy Bhd has filed a wind-up petition to the High Court even as its management team seeks a judicial review of the Securities Commission’s decision to ask for updates that could have led to the liquidation process. Read more
An arbitral tribunal has ordered Tenaga Nasional Bhd’s 80%-owned subsidiary Sabah Electricity Sdn Bhd to pay RM7.75mil in “partial” compensation to Mega First Corp Bhd’s 51% subsidiary Serudong Power Sdn Bhd. This is in relation to shortfall in energy and capacity payments between Nov 15, 2007, and Dec 31, 2015. Read more
Vista Lestari Development Sdn Bhd is now obliged to make a mandatory general offer to buy shares and warrants of VOIR HOLDINGS BHD after completing the purchase of 50.71% equity interest in the fashion apparel firm. The cash offer price is 50 sen per share (9 sen per warrant). Read more
The Employees Provident Fund Board has indicated its intention to take up an 80% stake in the 28.13 acres to be received by MALAYSIAN RESOURCES CORP Bhd’s 85%-owned subsidiary, Rukun Juang Sdn Bhd, for its work to upgrade the facilities at the National Sports Complex in Bukit Jalil. The Fund will pay about RM421.5mil after the signing of the definitive agreements, which is subject to it being satisfied with the due diligence results. Read more
BURSA MALAYSIA BHD’s profit attributable its owners rose 6.1% year-on-year in the first quarter ended March 31, 2016, on the back of a 5.3% increase in operating revenue to RM126.1mil. Trading revenue in the securities market segment decreased marginally due to lower trading activities, but the derivatives market trading revenue increased, as did the Islamic Capital Market’s Bursa Suq Al-Sila trading revenue. Read more
Sports shoe sole manufacturer Multi Sports Holdings Ltd says it is unable to release its annual report and audited financial statements for the financial year ended Dec 31, 2015, by the April 30 deadline. As it targets to submit its annual report only by June 30, this would result in the trading suspension of its securities from May 10. Meanwhile, the Taiwan Stock Exchange will place its securities under the Taiwan Depository Receipt Programme in an altered trading method -- only seller with securities credited in their securities accounts are allowed to sell the securities to purchasers with sufficient funds for purchase in their trading accounts.
Globetronics Technology Bhd has received a Bursa Securities’ query over the plunge in its share price, but no reply came from the semiconductor industry player as of Monday. Since last Thursday, Globetronics shares have sunk 17.3%. The counter closed 85 sen lower at RM4.44 on Monday, with 15.114 million shares changing hands. Read more
* Other listed companies in the news on Monday were AMMB Holdings (AmBank), Malaysia Airports, Texchem Resources, British American Tobacco, and SP Setia. You can find all these stories right here at The Star Online (Business).
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