Tan Sri Syed Mokhtar Albukhary is looking to take MMC private via a selective capital reduction (SCR) for RM2 per share.
Syed Mokhtar’s vehicle Seaport Terminal (Johore) Sdn Bhd, which owns 51.76% or 1.58 billion shares in MMC, announced that it would be conducting the exercise for the 1.47 billion shares or 48.24% stake it does not own in the company.
Perak Transit is planning a bonus issue of free warrants on the basis of one warrant for every four existing ordinary shares held, to reward its shareholders.
Mah Sing has received approval from European Conformity (CE) for its powder-free nitrile examination gloves and powder-free latex examination gloves, which would facilitate the company to tap into the export market to the European region.
Yong Tai said its healthcare unit is set to undertake the Covid-19 vaccine phase three clinical trial in Malaysia after the National Pharmaceutical Regulatory Agency (NPRA) granted its approval for the clinical trial import licence.
Johore Tin is buying a piece of freehold land measuring 297.51 acres for RM169.8mil cash in Banting, Selangor to expand its manufacturing operations as well as to undertake property development activities.
Pintaras Jaya has secured four new piling contracts worth S$34.5mil or approximately RM108mil in Singapore.
Progressive Impact Corp has bagged a contract worth 25.32 million riyal (RM27.88mil) from the Makkah Municipality in Saudi Arabia for the provision of pest control monitoring services in Makkah.
Sedania Innovator has secured awards from Telekom Malaysia Bhd to expand its GreenTech solutions to 34 sites from the present 10 sites.
Mr DIY will be included in the benchmark FBM KLCI index while Supermax has been excluded following the semi-annual review of the index constituents.
Fitch Ratings has downgraded Serba Dinamik’s Long-Term Issuer Default Rating to 'B-' from 'BB-', following questions raised over the quality of its earnings by its auditor.
The rating agency has also downgraded Serba Dinamik's senior unsecured sukuk due 2022 and 2025 to 'B-' from 'BB-', with a Recovery Rating of 'RR4'.
Meanwhile, the US market declined overnight ahead of the nonfarm payrolls report later today that shows the number of jobs created.
European stocks ended mixed despite improved business activity as shown by the latest PMI.
Following the mixed performances in the US and Europe, JF Apex said the FBM KLCI could remain sideways above the support level of 1,550 points.