Ekovest has signed agreements with three related parties to acquire 89.1 million shares and 78.3 million warrants in PLS Plantations for RM85.8mil (making it an Ekovest subsidiary).
Ekovest will have to extend an unconditional mandatory general offer to acquire all remaining PLS shares and warrants it does not own. The group intends to maintain PLS’ listing status.
Aeon Credit’s second quarter ended Aug 31,2020 net profit was up by 5.4% at RM51.81mil, from RM49.13mil a year earlier, amid lower operating expenses.
Ireka Corp is aiming for its demerger from London-Stock-Exchange- listed Aseana Properties Ltd to be completed by the end of the year.
The exercise involves separating the interests of Ireka group from 23%-owned Aseana.
It also includes Aseana buying back Ireka’s shares in Aseana, in exchange for certain assets owned by Aseana, namely The RuMa Hotel and Residences in Kuala Lumpur and a parcel of land in Kota Kinabalu.
Kanger International has inked an agreement with Sinopharm Group Hunan Changde Medical Co Ltd (SGHC) to distribute a Covid-19 vaccine and medical equipment products in Malaysia.
Supermax bought 5.04 million shares worth RM43.11mil a share buyback exercise today, bringing the total amount it has spent on buybacks this month to RM110.41mil.
MyNews saw its losses continue for its 3QFY20 widening to RM6.09mil, from RM2.33mil in 2QFY20 and a net profit of RM7.45mil in 2QFY19.
Inix is entering the durian business by partnering with a durian product manufacturer, Dura Manufacturing Sdn Bhd (Duria).
Inix will be appointed to secure the supply chain for Duria for 5,000 tonnes of nitrogen frozen Musang King durians, 2,000 tonnes of Durian paste and 1,000 tonnes of Musang King pulp over the next five years.
Meanwhile, US markets ended slightly lower overnight after the latest development in Regeneron's coronavirus drug while investors waited for the presidential debate.
Earlier, European stocks retreated amid Brexit talks.
“Following the negative performances in the US and Europe, the FBM KLCI could decline further towards the support of 1,475 points,” JF Apex said.
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