DNeX has backtracked from its plan to dispose of its 30% stake in Ping Petroleum Ltd, and instead wants to buy up the remaining 70% stake in the oil and gas (O&G) exploration and production (E&P) outfit via a combination of cash and new DNeX shares.
TSH Resources is disposing of its 90% stakes in two Indonesian subsidiaries to Kuala Lumpur Kepong, realising cash proceeds of RM517.62mil.
TSH said in a statement that the money will be used mainly to repay its bank borrowings, which amount to RM513.12mil.
Berjaya Corp is partnering China Sports Lottery HKJC INFOTECH (Beijing) Co Ltd to explore opportunities to jointly develop a third-party lottery market under a responsible gaming framework.
A company owned by Salcon, MMC and Ahmad Zaki has commenced arbitration proceedings against Pengurusan Aset Air Bhd (PAAB), seeking a sum of RM85.02mil.
Salcon MMCB AZSB JV Sdn Bhd (SMAJV) is claiming the sum for work performed by the company in respect of the development of the Langat 2 water treatment plant and water reticulation system in Selangor and Kuala Lumpur.
On the other hand, QL, Tasco, KNM, Genting Plantations, TH Plantations, Sarawak Oil Palms, IJM Plantations posted better year-on-year quarterly profits.
Overnight, US markets advanced overnight as the S&P and Nasdaq extended their record highs as investors waited for the Federal Reserve chairman's speech during the Fed's annual symposium.
Earlier, European stocks climbed following optimism on the US-China trade talks.
“Following the positive performances in the US and Europe, the FBM KLCI could bounce off the support of 1,550 points,” JF Apex said.
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