BCorp: Aborts Ascot stake buy. Berjaya Corp Bhd (BCorp) has aborted its proposed acquisition of a 70% stake in Ascot Sports Sdn Bhd after the Government reversed its decision to re-issue a sports betting license to Ascot. Consequently, Bcorp's proposed RM614.5m rights issue (RM1 nominal value of 8% irredeemable convertible unsecured loan stocks (ICULS) for every eight BCorp shares held) was also aborted. (Source: The Star)
Ekuinas: To invest RM3.5b in 3 funds. Ekuiti Nasional Bhd (Ekuinas), which is looking to invest in mid-sized listed firms, will be injecting RM3.5b into three separated funds and allocating RM1b for outsourced funds as it seeks new business avenues to meet its investment objectives. Its focus is on 6 sectors: education, oil and gas, fast-moving consumer goods, healthcare, retail and leisure and services. (Source: The Star)
Politics: Khalid replaced. The former private secretary to Datuk Seri Anwar Ibrahim, Mohamed Azmin Ali, Bukit Antarabangsa assemblyman, has been appointed Selangor Parti Keadilan Rakyat chief, replacing Menteri Besar Tan Sri Abdul Khalid Ibrahim, with immediate effect. (Source: New Straits Times)
QL: RM600m capex for expansion, acquisition. QL Resources Bhd is setting aside up to RM600m as capital expenditure (capex) over three years as it pursues organic expansion and positions itself for potential acquisition opportunities. 40% of the RM600m would be used to expand the group's plantation business, which involves downstream projects such as the commercialization of palm biomass as a source of renewable energy. QL's marine products and poultry farming units will be allocated 30% of the planned budget. (Source: The Edge Financial Daily)
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