BCorp, Allianz Malaysia, Comintel, Revenue Group, Pan Malaysia, Yong Tai, Classita, Bintai Kinden, Serba Dinamik, CSH Alliance, Star Media and Top Glove
KUALA LUMPUR (Jan 6): Here is a brief recap of some corporate announcements that made the news on Friday (Jan 6) involving Berjaya Corp Bhd, Allianz Malaysia Bhd, Comintel Corporation Bhd, Revenue Group Bhd, Pan Malaysia Holdings Bhd, Yong Tai Bhd, Classita Holdings Bhd, Bintai Kinden Corp Bhd, Serba Dinamik Holdings Bhd, CSH Alliance Bhd, Star Media Group Bhd and Top Glove Corporation Bhd.
Berjaya Corp Bhd (BCorp) chairman Tan Sri Vincent Tan Chee Yioun has divested 40 million shares or a 0.7% stake in the group to his son-in-law and Naza Group deputy group executive chairman SM Faliq SM Nasimuddin for RM10 million or 25 sen per share. Subsequent to the divestment, Vincent Tan is left with a 25.33% stake in BCorp. The divestment seems to be part of a bid for the billionaire to pare down his shareholding in BCorp and pave the way for the group’s potential acquisition of a financial institution. The Berjaya group founder is aiming to reduce his shareholding to 19.6% to comply with the Financial Services Act 2013, should the acquisition materialise.
Allianz Malaysia Bhd announced an interim dividend of 69 sen per share for the financial year ended Dec 31, 2022, with a Jan 25 ex-date and Feb 17 payment date. The total dividend for FY2022 is 85 sen — its highest dividend payout on record.
Comintel Corporation Bhd’s shareholders have rejected JT Conglomerate Sdn Bhd’s mandatory takeover offer to acquire the remaining 166.44 million Comintel shares (43.51% stake) worth 15 sen per share. JT Conglomerate’s shares remained at 56.49% as of the closing date at 5pm Friday.
Revenue Group Bhd’s suspended executive director Dino Ng Shih Fang has continued to sell down warrants, leaving him with only 1.75% or 2.74 million of the total warrants issued in the company. From Jan 3 to Jan 5, Ng had disposed a total of 20.54 million or 13.12% of total issued warrants at prices between seven sen and 15.84 sen a piece, valued at some RM2.32 million in total.
Pan Malaysia Holdings Bhd announced that its associate companies, Pan Malaysia Capital Bhd and PM Asset Management Sdn Bhd, have entered into share sale and purchase agreements with NewParadigm Capital Ventures Sdn Bhd to dispose of the entire issued and paid-up share capital of PM Securities Sdn Bhd, PCB Asset Management Sdn Bhd and Miranex Sdn Bhd for a total cash consideration of RM90 million.
Yong Tai Bhd’s newly incorporated and wholly-owned subsidiary, YTB Lifestyle Mall Sdn Bhd, has entered into a sale and purchase agreement with Admiral City Sdn Bhd to acquire a piece of leasehold land measuring 57,171 square meters in Melaka for RM41.69 million. Separately, Yong Tai announced it has mutually agreed to terminate the collaboration agreement with Opustique Infinity Ltd, Cheng Ho International Trade Centre, Culture City Centre Sdn Bhd and Oriental Impression City Development Sdn Bhd with immediate effect, due to the parties being unable to complete the terms of the proposed collaboration.
Classita Holdings Bhd, formerly known as Caely Holdings Bhd, proposed a five-for-two rights issue priced at 10 sen each, with five-year free detachable warrants issued on the basis of three warrants for every five rights shares subscribed, to raise between RM30 million and RM96.54 million to mainly fund its property development and construction business. The corporate exercise will involve the issuance of up to 965.4 million rights shares and up to 579.24 million warrants, whose exercise price is fixed at 20 sen each.
Bintai Kinden Corp Bhd has proposed to undertake a private placement of up to 10% of its total issued shares to third-party investors to be identified later, at an issue price to be determined later, with expectations to raise up to RM7.44 million. Of the proceeds, RM4 million is to be allocated for the repayment of the group’s bank overdraft, RM3.14 million for working capital requirements, and the remaining RM300,000 is to defray estimated expenses related to the exercise.
Practice Note 17 company Serba Dinamik Holdings Bhd is seeking an extension of time to submit its proposed regularisation plan to the relevant authorities. The distressed oil and gas engineering firm, which was required to submit the plan by Friday as per the Main Market Listing Requirements, has submitted an application for an extension of time to comply.
CSH Alliance Bhd has obtained the manufacturing licence for the assembly of commercial electric vans, primarily the BYD T3 compact van. The group is now applying for an approved permit from the Ministry of International Trade and Industry, as well as other approvals from relevant authorities, to bring in the complete-built-up units of BYD T3 into Malaysia for distribution purposes before the set up of the local assembly plant in Tanjung Malim, Perak.
Star Media Group Bhd announced that its chief financial officer Au Chen Sum is resigning from the position “to pursue other opportunities”, effective Jan 31. Au was appointed to the position in March 2020, replacing Ragesh Rajendran.
Top Glove Corporation Bhd has appointed Rowina Ghazali Seth and Dr Chong Su Lin as its independent and non-executive directors effective Friday, as independent directors Datuk Kong Sooi Lin and Datuk Noripah Kamso have retired from the board.
http://www.theedgemarkets.com/node/650826
Singapore Investment
-
-
-
-
-
How to we keep the dead alive?2 hours ago
-
-
-
-
-
-
-
-
-
The History of CapitaLand9 hours ago
-
-
CapitaLand Integrated Commercial Trust10 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
CICT 1Q2024 Business Updates2 days ago
-
-
-
-
-
-
Keyboarding Warriors4 days ago
-
-
-
-
Cory Diary : Portfolio updates5 days ago
-
-
-
Weekly Markets Outlook5 days ago
-
-
-
Portfolio Update6 days ago
-
-
-
-
-
-
-
-
Buying a home for face1 week ago
-
-
-
-
-
Finance Investment Movement 441 week ago
-
-
Market indeed coming down1 week ago
-
-
-
-
-
-
Banks and Miles Report – Mar 20242 weeks ago
-
Revisiting Bitcoin2 weeks ago
-
-
-
-
2024 (Portfolio Update)3 weeks ago
-
-
-
Retirement Journey Update for March 20243 weeks ago
-
-
-
1Q 2024 Investment Strategy Update3 weeks ago
-
-
Portfolio Summary for March 20243 weeks ago
-
-
-
Portfolio (March 30, 2024)4 weeks ago
-
-
-
QAF #77 - 2023 Annual Report4 weeks ago
-
Lentor Hills Residences4 weeks ago
-
Burnt out!4 weeks ago
-
-
-
Feb 2024 Expenditure4 weeks ago
-
-
Starting Our Second Property Cycle5 weeks ago
-
-
-
-
-
-
-
Feb 2024 Portfolio1 month ago
-
-
Summary of February 20241 month ago
-
The Market Is A Scam!1 month ago
-
-
-
-
-
-
-
-
-
Options Trading Journal Jan 20242 months ago
-
-
-
-
-
-
-
End of 2023 Review3 months ago
-
-
Year 2023 DIYQuant Portfolio Performance Report3 months ago
-
Monthly Summary of November 20234 months ago
-
3 Simple Poker Strategies for Beginners4 months ago
-
Migration of website5 months ago
-
-
Abandon REITS?5 months ago
-
-
-
-
-
-
-
-
-
August 2023 Portfolio Updates7 months ago
-
-
-
-
Hello SP Group, I'm Back!9 months ago
-
-
-
-
A New Light11 months ago
-
-
-
-
-
-
-
Demoralized1 year ago
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment1 year ago
-
-
-
-
-
-
-
-
-
-
-
Home
ALLIANZ
articles
BINTAI
BJCORP
CLASSITA
CSH
PMHLDG
REVENUE
SERBADK
STAR
YONGTAI
BCorp, Allianz Malaysia, Comintel, Revenue Group, Pan Malaysia, Yong Tai, Classita, Bintai Kinden, Serba Dinamik, CSH Alliance, Star Media and Top Glove