KUALA LUMPUR (Feb 21): Shares of Nilai Resources Group Bhd climbed in early trade on Tuesday after the major shareholders proposed a selective capital repayment (SCR) of RM1.50 a share.
At 9.44am, it was up 13 sen to RM1.43. There were 35,000 shares transacted.
The FBM KLCI slipped 1.16 points to 1,559.41. Turnover was 371.64 million shares valued at RM185.12 million. Decliners led advancers 209 to 189 while 266 counters were unchanged.
On Monday, Nilai Resources announced the major shareholders Akarmas Sdn Bhd and Tan Sri Dr Gan Kong Seng -- who collectively hold 62.937 million shares or 55.1% equity -- had proposed the SCR.
However, they would not be entitled to the SCR due to their proposed corporate exercise which could see taking the company private.
At 9.44am, it was up 13 sen to RM1.43. There were 35,000 shares transacted.
The FBM KLCI slipped 1.16 points to 1,559.41. Turnover was 371.64 million shares valued at RM185.12 million. Decliners led advancers 209 to 189 while 266 counters were unchanged.
On Monday, Nilai Resources announced the major shareholders Akarmas Sdn Bhd and Tan Sri Dr Gan Kong Seng -- who collectively hold 62.937 million shares or 55.1% equity -- had proposed the SCR.
However, they would not be entitled to the SCR due to their proposed corporate exercise which could see taking the company private.
