Capital markets news summary for Thu 16 Mar 2023 4 people arrested for Alpha Circle sukuk misappropriation The company is the fundraising vehicle for NERS – which signed the concession to develop a foreign worker biometric system with the government on 20 Jul 2011 for a 12-year term. The board of directors on 29 Aug…
Capital markets news summary for Wed 15 Mar 2023 Landmark’s Andaman Resort defaults on RM133m financing facility A fire which broke out at the Andaman Resort in Jan 2021 caused the biggest revenue contributor to cease operations affecting the company’s cashflows. OCBC Bank issued a notice of recall on 8 Mar demanding the repayment of…
Capital markets news summary for Tue 14 Mar 2023 Rashid Manaf to become controlling shareholder of EATech The company – which has been classified as PN17 since 28 Feb 2022 – announced a consolidation of 530.5m shares to 35.37m, or 15-to-1. EA Technique (EATech) closed at 29 sen, meaning the consolidated shares will be worth…
Capital markets news summary for Mon 13 Mar 2023 Axiata in talks with global investment funds to sell USD1.2b stake in edotco Global infrastructure funds are interested in Southeast Asian telecommunications assets because of strong growth prospects. Axiata – which owns 63% of edotco – is considering even giving majority control to secure the deal….
Capital markets news summary for Fri 10 Mar 2023 BNM keeps OPR at 2.75% As inflation is expected to moderate in 2023 and any price pressures are contained with price controls and subsidies, Bank Negara Malaysia (BNM) decided to keep the overnight policy rate (OPR) unchanged. In 2022, BNM raised the OPR by 1% primarily…
Capital markets news summary for Thu 9 Mar 2023 Astro share price up 22% on privatisation talks Its share price added 13.5 sen to hit an intraday high of 74.5 sen, and later closed at 73 sen. It was the 4th most active counter with trading volume of 72.04m or 12 times its 2-month average…
Capital markets news summary for Wed 8 Mar 2023 Oppstar shares for Malaysian public oversubscribed 77 times The company will be listed on the ACE Market on 15 Mar. It plans to raise RM104.25m in the public share sale of 165.5m shares or 26% of its enlarged capital at 63 sen per share. 31.81m shares…
Capital markets news summary for Tue 7 Mar 2023 Lower inventory keeps palm oil futures high The Mar crude palm oil (CPO) futures contract is trading at RM4,260, a 4-month high. In 2Q2023, CPO futures are expected to remain RM4,200-RM4,700. The market anticipates that Indonesian and Malaysian production will fall. There are several factors which…
Capital markets news summary for Mon 6 Mar 2023 Japan’s Myfarm invests RM210m in PLS Plantations’ durian project Myfarm will purchase 49% of Akar Barat from PLS-LESB for RM181.8m. The durian plantation is on 1,000 hectares of land in Raub, Pahang and is planted with Musang King durian trees aged up to 3 years old….
Capital markets news summary for Fri 3 Mar 2023 LTAT wants to privatise Boustead at 85.5 sen per share Lembaga Tabung Angkatan Tentera (LTAT) has made a voluntary offer for the remaining 822.51m or 40.58% of Boustead shares it does not already own. The offer price is at a 30.5% premium over the last traded…