KUALA LUMPUR (Jan 11): The firmer overnight close on Wall Street could provide the much-needed boost for regional markets and Malaysia while fresh corporate developments could see trading interest in stocks like KULIM (M) BHD [] and QSR BRANDS BHD [].
Stocks which could see trading interest on Wednesday include Kulim (M) Bhd and QSR Brands Bhd following a slightly higher offer price made by Kumpulan Syarikat Pelaburan DPMM on behalf of the Malay Chamber of Commerce Malaysia (MCCM).
The MCCM raised the offer for the QSR shares owned by Kulim by 10 sen to RM6.90. However, could this lead to other offers in the pipeline?
At RM6.90, this was 10 sen above the offer made by Massive Equity Sdn Bhd (MESB) to acquire QSR’s business and undertakings, including substantially all the assets and liabilities of QSR for RM6.80 per share.
Meanwhile, SAPURACREST PETROLEUM BHD []’s joint venture has secured a subsea CONSTRUCTION [] project worth RM315 million (US$100 million) offshore Vietnam.
SapuraAcergy Sdn Bhd, which is 50:50 owned by SapuraCrest and Subsea 7 S.A. was awarded the contract, adding that the offshore work was expected to be performed in mid 2012.
CAN-ONE BHD [] stated it was unaware of any plan of its major shareholders to undertake a privatisation or merger with KIAN JOO CAN FACTORY BHD [].
PETRA ENERGY BHD []’s former chairman Tengku Datuk Ibrahim Petra Tengku Indra Petra is seeking RM891,000 as gratuity payment from the company and the transfer of a company car.
The Kuok Group continued to reduce its stake in HEXAGON HOLDINGS BHD []. It disposed of 7.69 million shares at an average price of 20 sen from Jan 4 to 9 and reduced its stake to 9.78% or 12.978 million shares.
Another stock which could see trading interest is Tan Chong Motor on speculation it might be keen in a stake in Proton.
Stocks which could see trading interest on Wednesday include Kulim (M) Bhd and QSR Brands Bhd following a slightly higher offer price made by Kumpulan Syarikat Pelaburan DPMM on behalf of the Malay Chamber of Commerce Malaysia (MCCM).
The MCCM raised the offer for the QSR shares owned by Kulim by 10 sen to RM6.90. However, could this lead to other offers in the pipeline?
At RM6.90, this was 10 sen above the offer made by Massive Equity Sdn Bhd (MESB) to acquire QSR’s business and undertakings, including substantially all the assets and liabilities of QSR for RM6.80 per share.
Meanwhile, SAPURACREST PETROLEUM BHD []’s joint venture has secured a subsea CONSTRUCTION [] project worth RM315 million (US$100 million) offshore Vietnam.
SapuraAcergy Sdn Bhd, which is 50:50 owned by SapuraCrest and Subsea 7 S.A. was awarded the contract, adding that the offshore work was expected to be performed in mid 2012.
CAN-ONE BHD [] stated it was unaware of any plan of its major shareholders to undertake a privatisation or merger with KIAN JOO CAN FACTORY BHD [].
PETRA ENERGY BHD []’s former chairman Tengku Datuk Ibrahim Petra Tengku Indra Petra is seeking RM891,000 as gratuity payment from the company and the transfer of a company car.
The Kuok Group continued to reduce its stake in HEXAGON HOLDINGS BHD []. It disposed of 7.69 million shares at an average price of 20 sen from Jan 4 to 9 and reduced its stake to 9.78% or 12.978 million shares.
Another stock which could see trading interest is Tan Chong Motor on speculation it might be keen in a stake in Proton.
