Kumpulan Perangsang Selangor’s 51%-owned unit Aqua-Flo Sdn Bhd has received a letter of extension to supply chemicals to water treatment plants operating under the Air Selangor Group, for a further period of five and a half months.
The group said estimated sums for the projects during the extended period will amount to RM25.08mil.
Perisai plans to undertake a share capital reduction and a rights issue to raise up to RM22.34mil to regularise its Practice Note 17 (PN17) status.
Javawana Sdn Bhd, a major shareholder of GSB, has made a conditional mandatory general offer of 13 sen a share for the remaining 313.10 million shares in the company which it does not own.
Meanwhile, US markets ended mixed on Friday following concerns on US-China trade negotiations.
The Dow Jones industrial average bucked the negative trend, closing just above the flatline at 24,715.09.
Earlier, European stocks tumbled following losses in telecommunication counters as ratings of Altice and Telecom Italia were downgraded.
“Following the mixed performance in the US and Europe, the FBM KLCI is expected to remain sideways below the resistance of 1880 points as investors calm down after volatile trading post-election,” JF Apex said.
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