KNM's board of directors has approved the proposed listing of its indirect wholly-owned subsidiaries on Catalist in Singapore.
FBM Hudson Italiana SpA and FBM-KNM FZCO, collectively known as the FBM group, will be listed on the sponsor-supervised board of the Singapore Stock Exchange via an initial public offering.
Kejuruteraan Asastera is set to acquire a mini-hydropower plant located in North Sumatera, Indonesia.
KAB said that its wholly-owned subsidiary KAB Energy Holdings Sdn Bhd had entered into a term sheet agreement with Sarawak Cable Bhd to acquire the entire issued share capital of the latter’s Indonesia-based subsidiary, PT Inpola Mitra Elektrindo (PT IME), for a purchase consideration of RM10,000.
Petronas Chemicals plans to build a 60,000 tonnes-per-annum melamine plant in Gurun, Kedah, which will make it the sole melamine producer in Southeast Asia.
The group said the plant is targeted to come onstream in 2024 but did not indicate how much it is investing in the plant.
Nestcon has been awarded a fixed lump sum turnkey construction job worth RM188.5mil from Konsortium Exsim Development Sdn Bhd (KED) to build a 39-storey apartment building on Jalan Klang Lama.
Bumi Armada is planning to sell four overseas subsidiaries for a total cash consideration of US$44.5mil (RM186.6mil), as part of its plan to exit the offshore marine services business.
Berjaya Corp has proposed to dispose of its 71.73% stake in Berjaya Higher Education Sdn Bhd, which owns Berjaya University College, to Nanyang International Education Group Sdn Bhd.
However, the group did not indicate the disposal value.
Ageson intends to raise up to RM179.09mil through a share consolidation and a rights issue.
Meanwhile, the FBM KLCI fell 12.59 points to 1,530.33 in the previous session.
JF Apex said following Wall Street's decline overnight, the index could remains under pressure and trend towards the support of 1,515.
European stocks however ended slightly higher despite a spike on bond yields and UK inflation hitting a 30-year high.