AirAsia is now in the midst of formulating a plan to regularise its financial condition, its group chief executive officer Tan Sri Tony Fernandes said after the group has been classified as PN17.
KESM Industries said its plant in China under KESM Industries (Tianjin) Co Ltd has stopped production to observe lockdown regulations imposed by the local government following the discovery of Covid-19 cases.
Ageson has decided to scrap its sand supplies deal, worth an estimated combined value of RM27.96bil.
It attributed the decision to “high shipping costs” caused by the Covid-19 pandemic.
It claimed it had not commenced the sand trading business so far, adding that “the sand offer letters do not constitute any legally-binding commitment and there were no definitive agreements entered between the parties as at the date of this announcement”.
Lion Industries has proposed to dispose of its entire stake in Eden Flame Sdn Bhd, which owns a long-steel product manufacturing plant in Pasir Gudang, for RM135.88mil cash;
Jade Marvel is planning to collaborate with Chinese company Shangdong Xinhai Mining Technology & Equipment Inc (Shangdong Xinhai) to explore business opportunities in mineral processing and solutions in Malaysia.
Meanwhile, JF Apex said the US market ended mixed on Friday with the Dow dropping while the S&P and Nasdaq rose slightly amid selldown in banking stocks due to expectation of higher interest rates.
Earlier, European stocks declined following hawkish comments from the US Federal Reserve and expectation of policy tightening.
“Following the lacklustre performance in global markets, the FBM KLCI could remain pressured with support at 1,515 points,” it said.