KUALA LUMPUR: Sarawak Consolidated Industries Bhd
(SCIB) emerged as one of the most active stocks in early trading on Friday, drawing strong buying interest.
The activity followed an offer from YTL Cement (Sarawak) Sdn Bhd to acquire 100 per cent of SCIB’s wholly owned subsidiary, SCIB Concrete Manufacturing Sdn Bhd, for RM113 million.
As at 10.42 am, SCIB’s share price was 5.0 sen higher at 21.5 sen, with 61.83 million shares traded.
YTL Cement (Sarawak) is an indirect subsidiary of YTL Corporation Bhd.
In a filing with Bursa Malaysia, SCIB said it would accept the offer subject to conditions, including the successful negotiation and execution of a definitive share sale and purchase agreement.
At 10.41 am, YTL Corporation’s shares were flat at RM2.80, with 3.06 million shares traded. - Bernama
