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The heat on SKIN puts Prestariang in a spot

THE uncertainties hanging over its multi-billion ringgit border control project have taken a toll on Prestariang Bhd shares, leaving the stock in an overhang position due to its heavy institutional shareholding.

Corporate News

Hap Seng to dispose of stakes in two units

KUALA LUMPUR: Hap Seng Consolidated Bhd (Hap Seng) plans to dispose of its 100 per cent interest in HSC Sydney Holding Ltd and a 20 per cent stake in Hap Seng Credit Sdn Bhd, for RM771.16 million and RM906 million respectively, to Lei Shing Hong Capital Ltd.

Business

Maybank sells entire stake in Visa Inc for RM413mil

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has sold all its shareholding in Visa Inc, comprising 1.19 million Class A common shares, for US$93.9mil (RM412.8mil).

Business

DRB-Hicom offers to sell KLAS and land to Pos M’sia for RM835.2mil

KUALA LUMPUR: Conglomerate DRB-Hicom Bhd is proposing to park KL Airport Services Sdn Bhd (KLAS) and a freehold land in Shah Alam under Pos Malaysia Bhd.

Business

BLand equity in NV Multi down

PETALING JAYA: In a filing with Bursa Malaysia, Berjaya Land Bhd said its wholly-owned subsidiaries, namely Immediate Capital Sdn Bhd, Berjaya Golf Resort Bhd and Selat Makmur Sdn Bhd, had collectively disposed of shares in NV Multi Corp Bhd that represented 6.6% of the latter#8217;s equity interest for about RM8.66mil cash.

Business

Advice to Petra shareholders

KUALA LUMPUR: The Minority Shareholder Watchdog Group (MSWG) has given some 'recommendations' to shareholders of Petra Perdana Bhd on the board tussle.

Business

T. Rowe Price ceases to be AirAsia substantial shareholder

T. Rowe Price Associates, Inc ceased to be a substantial shareholder in AirAsia Bhd, which has seen its shares come under selling pressure in recent weeks due to surging fuel prices.

Business

Landmarks selling 26.6% stake in Shangri-La

Landmarks Bhd has proposed to sell its 26.6% stake in another listed firm Shangri-La Hotels (M) Bhd for a profit, as the company seeks to reduce debt and focus on its own hotel development project.