KLCI Chart Reading : Downside biased with possible pullback but MACD indicator cross down
Sime Darby to buy 3 Aussie companies
Sime Darby, the world’s largest listed palm oil plantation company, plans to acquire three Australian firms for AUD19.6m (RM60m) to bolster its industrial division Down Under. The proposed acquisitions of Haynes Mechanical Pty Ltd, AC Haynes Investments Pty Ltd and DG Nominees Pty Ltd – all three privately-held – are expected to be completed by this week. The acquisition would enable Sime Darby to access the skilled labour market more effectively and ensure the business is sufficiently resourced to meet its growth objectives. (Malaysian Reserve)
MISC signs pact with MSC to improve operational efficiency
MISC has signed a memorandum of understanding (MoU) with Malaysia Shipping Corp (MSC) to improve operational efficiency. The MoU is also aimed at enhancing customers’ shipping experience when using the “Perdana” service. Under the MoU, the two shipping lines would continue to partner each other to operate the service. MISC said the two shipping lines would operate individual al loops based on their capability and capacity. (Malaysian Reserve)
Faber bullish on renewal of contract
Faber Group is positive that its 15-year concession services (HSS), which expires in October, will soon be renewed for another 15 years based on the group’s experience and track record. Adnan Mohammad, Faber Group managing director said the company was well-positioned for the concession renewal based on its financial ability. “We are waiting for a detailed discussion with the authorities. It is just a matter of time. The ball is now in the Government’s court,” he said. (Financial Daily)
Puncak Niaga inks JV with Ramky
Puncak Niaga Holdings sealed an agreement with Ramky Infrastructure Ltd yesterday to collaborate on the basis of mutual exclusivity in an unincorporated joint venture (JV) knows as RIL-PNHB Joint Venture. The joint venture is to source for potential water and water related projects in India. (Malaysian Reserve)
SingPost ups stake in GD Express
Singapore Post Ltd yesterday boosted its stake in Ace Market-listed GD Express Carrier to 27.08% from the initial 4.98%, positioning itself as a strategic investor in the Malaysian express delivery and logistics services provider. The acquisition will make the Malaysian company an associate of Singapore Post. (Financial Daily)
No comments:
Post a Comment