Bursa highlights logo for Star Online (Business).
Bursa highlights on Tues, April 26
* Dunhill and Peter Stuyvesant manufacturer British American Tobacco (M) Bhd posted a net profit attributable to its owners of RM172.61mil in the first quarter, down 28.6% from a year ago -- the biggest quarterly drop in more than three years. Domestic volume for the quarter fell by 34% against the same period last year. Read more
* Sona Petroleum Bhd, which managed to secure a 50% discount on the price of Australia’s Stag Oilfield and then sweetened a proposed capital repayment to shareholders if they agreed to its purchase of the asset, still met with shareholders’ rejection at its adjouned EGM. Some 77.4% of votes cast were against its proposed purchase, when the board needed at least 75% shareholder approval. Read more
* Tenaga Nasional Bhd’s unit TNB Fuel Services Sdn Bhd, which supplies coal to the public utility as well as to independent power producers, hired four firms under long-term contracts valued at US$537mil (RM2.11bil) to ship coal from Indonesia to Malaysia. Among the appointed companies is Kuok Group member Malaysian Bulk Carriers Bhd, which clinched a US$143.1mil (RM561.4mil) contract. Read more
* Ceramic tile maker and building materials supplier Seacera Group Bhd has signed a memorandum of understanding with Syarikat Perumahan Negara Bhd’s trading arm SPNB Edar Sdn Bhd for, among others, forming a joint venture or business partnership for a particular project. SPNB Edar supplies building materials to all SPNB group’s affordable housing projects.
* Microchip maker Globetronics Technology Bhd, slapped with a Bursa Securities query on Monday for a sharp drop in its share price, says it knows of no unannounced corporate development, rumour or report to account for this unusual activity. Its share price, having sunk 85 sen on Monday, continued to fall on Tuesday by 55 sen to hit RM3.89, with 33.207 million shares traded. It did not help that the company on Tuesday also reported that its net profit for the 2016 first quarter was down 78.5% from a year ago, at RM3.68mil, due to lower end-customer demand and a forex loss of RM4.6mil. Read more
* Nestle (M) Bhd -- whose products range from Milo to Maggi and Nescafe -- registered a 17.5% year-on-year growth in net profit to RM220.68mil for the first quarter ended March 31, 2015, thanks to lower operating expenses from the timing of marketing investment activities, as well as lower effective tax rate. Read more
Other stories of listed or soon-to-be-listed companies you may be interested in:
* Celcom to allocate about RM2bil in capex for 4G LTE development
* PetGas to spend RM4.5bil in capex over next 5 years
* Maybank Indonesia posts 444 bil rupiah 1Q16 net profit
* Reach Energy hopes to hold EGM in September
* Westports expects flattish growth this year
* Bursa Securities queries Spring Gallery over share price spike
* LKL International to raise RM22.6mil from IPO
* Perak Transit prepares for listing
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