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Investors chase up MRCB and DRB-Hicom shares

PETALING JAYA: Shares of Malaysian Resources Corp Bhd (MRCB) and DRB-Hicom Bhd advanced as investors chased up the counters following fresh corporate news detailing positive prospects for the respective companies.

At 5pm yesterday, property developer MRCB rose nine sen to RM1.25.

DRB-Hicom, MRCB climb in active trade early Wednesday

KUALA LUMPUR: DRB-Hicom and Malaysian Resources Corp Bhd (MRCB) advanced in early Wednesday trade as investors chased up the counters following fresh corporate news while the FBM KLCI managed to stage mild rebound.

OldTown’s shares rise on takeover offer

KUALA LUMPUR: OldTown Bhd’s shares on Bursa Malaysia rose in early trade following a RM1.47bil takeover offer from Dutch coffee company Jacobs Douwe Egberts (JDE).

APFT’s Faruk quits after dispute with exec director

PETALING JAYA: APFT Bhd, which provides flight training and aircraft maintenance services, has announced the resignation of its executive chairman Datuk Faruk Othman due to a dispute with executive director Edwin Silvester Das. Firm cites disagreement over the executive chairman’s son

Meeting the press: A file picture showing Faruk (left) and his son Arif Faruk at a press conference after the company’s AGM in 2013

Takeover date for Hovid extended

PETALING JAYA: Hovid Bhd managing director David Ho Sue San and private equity group TAEL Partners have extended the closing date of their takeover offer for Hovid and lowered the acceptance condition threshold.

The offer is now conditional on the joint offerors receiving more than 75% of the pharmaceutical company’s shares, including shares already held or acquired.

Dialog starts new financial year strongly

PETALING JAYA: Dialog Group Bhd kicked off its new financial year on a strong note, almost doubling its earnings in the first quarter ended Sept 30 to RM160.92mil.

Artist impression of Dialog Group Bhds oil storage terminal in Pengerang

MRCB's higher 9-month profit boosted by big jump in revenue

PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) posted a 5.6% jump in pre-tax profit for the first nine months of this year to RM115.76mil if the RM44.4mil gains from one-time disposals recorded in last year’s corresponding period are excluded.

Last year’s disposal gains of RM44.4mil were derived from the sale of Sooka Sentral in Kuala Lumpur(pic) and the sale of its stake in the River of Life project (40% equity interest in Ekovest-MRCB JV Sdn Bhd and 60% in Ekovest-MRCB Construction Sdn Bhd).