Grand-Flo has received an unconditional take-over offer for the remaining shares in the IT company at 26 sen each from YBG Yap Consolidated Sdn Bhd.
Sime Darby’s 36.6%-owned joint venture (JV) company was ordered by China’s Maritime Court at Qingdao, Shandong Province to pay 711 million yuan (RM427mil) outstanding sum due to local contractor CCCC Tianjin Dredging Co Ltd.
Tenaga Nasional’s board approved a proposed internal reorganisation that divides the group’s businesses into power generation and retail electricity.
Therefore, the group said it will group power generation businesses into a newly incorporated subsidiary (GenCo) and retail electricity businesses into another new subsidiary (RetailCo).
DWL Resources (formerly known as Spring Gallery) has terminated a masterplan for a commercial development on 216, 427 sq metres of land in Melaka.
Meanwhile, US markets declined after fresh concerns on the US-China trade deal while investors waited for the Federal Reserve's decision on interest rate cut.
Earlier, European stocks tumbled after uncertainties on US-China trade talks and the Fed's monetary policy meeting.
“Following the bearish performance in the US and Europe, the FBM KLCI could extend its losses towards the support of 1, 625 points, ” JF Apex said.