Meanwhile, Sapura Offshore Sdn Bhd (SOSB) has secured a subcontract from Malaysia Marine and Heavy Engineering Sdn Bhd to transport and instal jackets, piles, bridges and appurtenances at the Bokor Central Processing Platform project. SOSB has also won a contract in India.
Malayan Flour Mills Bhd
(MFM) and Sapura Energy Bhd (SEB) recently came into the limelight as two companies with two distinct business operations which decided to tap into the deep pockets of their respective shareholders via a rights issue exercise.
In MFM’s case, the rights issue involved the issuance of five-year, 5% redeemable convertible unsecured loan stocks (RCULS) of RM1 each on the basis of three RCULS for every 10 shares held, which comes with one bonus share and one free warrant for every two RCULS subscribed. Each RCULS was priced at RM1. Hence, a shareholder with 10,000 MFM shares will subscribe to 3,000 RCULS and at the same time receive 1,500 bonus shares and 1,500 warrants.
Limited time offer:
Just RM5 per month.
