Rubberex has proposed a private placement of up to 83.23 million shares or 10% of its share capital to raise RM78.65mil.
The proceeds to be used to acquire 28 double-formers nitrile disposable glove production lines as part of its expansion in Perak, the company said.
Focus Dynamics has subscribed to 138.05 million rights issue shares of Saudee Group, equivalent to a 19.37% stake in the latter’s share capital.
The group said the share subscription was pursuant to the memorandum of understanding inked by the two companies in relation to the rolling out of a robotics-based manufacturing facility and the development of robotic burger kiosks.
LTKM has proposed to undertake a private placement to raise up to RM11.71mil for working capital.
The group said the private placement is a first step forward to enable the group to meet the public spread requirement.
Comfort Gloves' 1QFY22 net profit surged by more than 13 times to RM219.13mil, from RM16.34mil a year earlier, on higher sales volume and average selling prices (ASPs), as well as better economies of scale.
On q-o-q, net profit grew 84.11% from RM137.87mil for 4QFY21, while revenue increased 69.72% from RM318.9mil.
Axiata, Telenor Asia Pte Ltd and Digi have successfully concluded the due diligence exercise and have inked the transaction agreements for the proposed merger of Celcom Axiata Bhd and Digi (MergeCo).
In a joint statement, the parties said the signing confirms the intent to establish a commercially stronger and more resilient digital converged service provider.
Serba Dinamik has denied there was any element of related party transaction (RPT) in the undertaking of Block 7 Investments LLC when the Abu Dhabi project win was first announced in April last year.
MAHB has submitted a comprehensive strategic long-term development plan for the Sultan Abdul Aziz Shah Airport in Subang, Selangor to the government. The airport operator also said it has sufficient internal cash reserves to undertake the Subang Airport Regeneration plan.
Meanwhile, the US market rallied overnight in a sharp rebound following easing inflation concerns.
Earlier, European stocks advanced to reverse Friday's heavy losses following expectations on the US Federal Reserve chairman's upcoming testimonial.
“Following the positive performance in the US and Europe, the FBM KLCI could follow suit and climb towards the psychological barrier of 1,600 points,” JF Apex said.