Barakah has found a white knight in Singapore firm Lecca Group Pte Ltd to aid its financial health.
The Practice Note 17 (PN17) firm has proposed to undergo a regularisation plan that will include a share capital reduction, disposal of a pipelay barge for RM88mil, placements of shares to investors, as well as debt settlement schemes.
TDM has secured a deal to supply 107,500 tonnes of crude palm oil (CPO) over a period of 43 months, that comes with an upfront RM189mil payment.
Mestron's wholly-owned subsidiary Mestron Engineering Sdn Bhd signed a memorandum of understanding (MoU) with Platinum Core Solutions Sdn Bhd, to explore a joint venture involving the conversion of telecommunication signals to boost Internet speed.
London Biscuit announced that it has become a Practice Note 17-company, after it defaulted a debt payment of RM9.83mil to Bank of Nova Scotia.
Overnight, US stocks fell as losses in Apple shares pressured the broader tech sector. Investors also braced for key testimony from the top Federal Reserve official later this week.
Similarly, European stocks ended Monday’s session in negative territory with European banking stocks led the losses after Deutsche Bank announced it would pull out of its global equities sales and trading operations, scale back its investment banking and slash thousands of jobs as part of a sweeping restructuring plan to improve profitability.
“Following the negative performances posted by the overnight overseas markets, the FBM KLCI could extend its pullback towards the support of 1,650 points,” JF Apex said.