Latest news with #MainMarket
New Straits Times
31-07-2025
- Business
- New Straits Times
HSS Engineers' chairman steps down
KUALA LUMPUR: HSS Engineers Bhd says Datuk Mohd Zakhir Siddiqy Sidek has stepped down as its chairman effective July 31. He wants to pursue other commitments and responsibilities outside the company and focus on other ongoing professional priorities, HSS Engineers said in a statement. Mohd Zakhir, 58, served on HSS Engineers' board from April 17, 2015 and was also a member of the audit and risk management committee. Datuk Seri Ismail Md Salleh, a senior independent non-executive director, will assume the role of acting chairman on Friday. HSS Engineers said over the past decade as chairman, Mohd Zakhir played a pivotal role in guiding the company through several significant milestones. He oversaw the company's initial public offering and listing on the ACE Market of Bursa Malaysia in 2016, followed by its successful transfer to the Main Market in 2017. He provided strategic oversight during the acquisition of SMHB Engineering Sdn Bhd, which strengthened the company's engineering consultancy capabilities and leadership in infrastructure and water-related projects. HSS Engineers executive vice chairman Tan Sri Ir Kuna Sittampalam said Mohd Zakhir's strategic vision was instrumental in taking it public and advancing key corporate initiatives, including the acquisition of SMHB. "We are immensely appreciative of his invaluable contributions and unwavering support, which have laid a solid foundation for the company's continued growth," he added.
Barnama
30-07-2025
- Business
- Barnama
MMM To Be Suspended, Faces Delisting After Regularisation Plan Rejected
KUALA LUMPUR, July 30 (Bernama) -- Trading in MMM Group Bhd's securities will be suspended from Aug 7, 2025, after Bursa Malaysia Securities Bhd rejected its regularisation plan for failing to meet requirements under Practice Note 17 (PN17) of the Main Market listing requirements. MMM (formerly known as Asia Media Group Bhd), stated that its securities will also be delisted on Sept 4, 2025, unless an appeal against the rejection of the proposed regularisation plan and delisting is submitted to Bursa Securities on or before Aug 29 (appeal timeframe). 'Any appeal submitted after the appeal timeframe will not be considered by Bursa Securities,' the marketing agency said in a Bursa Malaysia filing. MMM said that should it be delisted, the company will continue to exist but as an unlisted entity. 'It is still able to continue its operations and business, and proceed with its corporate restructuring, and its shareholders can still be rewarded by its performance,' it added.
Borneo Post
30-07-2025
- Business
- Borneo Post
Felda's shareholding in FGV increases to over 90 pct, plans for delisting
Felda holds more than 90 per cent of FGV's shares and does not intend to maintain FGVís listing status on the Main Market of Bursa Securities. — Bernama photo KUALA LUMPUR (July 30): The Federal Land Development Authority (Felda) has received valid acceptances for all the remaining ordinary shares in FGV Holdings Bhd and has acquired the offer shares representing 91.73 per cent of the total issued shares of FGV as of 5pm on Tuesday. FGV said in a filing with Bursa Malaysia that Felda holds more than 90 per cent of its shares and does not intend to maintain FGVís listing status on the Main Market of Bursa Securities. It added that this offer is still open for acceptance until 5pm Aug 15, 2025 and Felda encourages all shareholders who have not yet accepted the offer to do so before the deadline expires. 'Bursa Securities will suspend the trading of the FGV shares immediately upon the expiry of five market days from the final closing date in accordance with subparagraph 16.02(3) of the Listing Requirements,' it added. In 2020, Felda triggered a mandatory takeover offer after increasing its stake in FGV from 33.66 per cent by acquiring shares from Retirement Fund Inc (KWAP) and Urusharta Jamaah for RM658 million. FGV, which made its debut in 2012 at RM4.55 a share, raised RM10.5 billion in one of Malaysia's largest initial public offerings. Its share price has since declined significantly, prompting repeated privatisation efforts. Felda said the acquisition of FGV shares not only paves the way towards a more sustainable and focused Felda Group, but is also in line with Felda's aspirations in achieving the Felda Group's Strategic Plan and Direction 2025 – 2030. 'This effort is believed to enhance competitiveness and guarantee long-term returns to settlers and all stakeholders,' it added. – Bernama
Zawya
30-07-2025
- Business
- Zawya
Dar Al Majed sets IPO price range, to raise up to $336mln from listing: Report
Saudi Arabia's Dar Al Majed Real Estate Co. (AlMajdiah) has set the price range for its initial public offering (IPO) between SAR13.5 and SAR14 ($3.60-3.73), according to a news report. Last week, the developer announced floating 30% of its share capital, or 90 million shares, on the Main Market (TASI). The company will raise between SAR1.21 billion and SAR1.26 billion from the listing. The top end of the IPO price range values AlMajdiah at SAR4.2 billion, Bloomberg reported, quoting people aware of the matter. The book-building process commenced on July 29 and will close on August 4, 2025. All shares on offer were subscribed within minutes of the books opening, Bloomberg said. The developer has appointed Saudi Fransi Capital (BSF Capital) as financial advisor, lead manager, institutional bookrunner and underwriter. According to its website, AlMajdiah has developed over 2.5 million square meters, encompassing more than 180 completed projects. In March, Umm Al Qura for Development and Construction saw its shares surge 30% on the group's debut on the Main Market following a $523 million IPO. (Editing by Brinda Darasha;
The Star
29-07-2025
- Business
- The Star
FGV set to be delisted from Main Market
FGV said Felda and its persons acting in concert collectively held 91.73% of FGV's total issued shares, as at 5pm yesterday. PETALING JAYA: FGV Holdings Bhd is set to be delisted from the Main Market of Bursa Malaysia after the Federal Land Development Authority (Felda) secured valid acceptances under its unconditional voluntary takeover offer. In a filing with Bursa Malaysia yesterday, FGV said Felda and its persons acting in concert (PACs) collectively held 3.35 billion shares, or 91.73% of FGV's total issued shares, as at 5pm yesterday. In a notice issued by Maybank Investment Bank Bhd on behalf of Felda, it noted that as Felda and the PACs collectively hold more than 90% of the FGV shares and the former does not intend to maintain the listing status of FGV on the Main Market. It said the trading of the FGV shares will immediately be suspended by the local exchange upon the expiry of five market days from the final closing date of Aug 15. Earlier this year, FGV Holdings received an unconditional voluntary takeover offer from Felda for all the remaining shares in FGV Holdings that Felda does not already own at RM1.30 per share. The cash offer of RM1.30 per share remains open for acceptance until 5pm on Aug 15. The previous deadline was July 7. This move is part of Felda's long-term strategic plan to privatise FGV and consolidate its control over the plantation company. The takeover exercise comes after Bursa rejected FGV's request in March 2025 for more time to resolve its low public shareholding issue, which has remained below the 25% threshold since February 2021. For the first quarter ended March 31, 2025 (1Q25), FGV Holdings saw a net profit of RM36.48mil from a previous net loss of RM13.49mil in 1Q24, or earnings per share of one sen. Revenue was also up by 11% year-on-year to RM5.04bil. The group said the plantation division remained the main contributor, supported by a 6% improvement in fresh fruit bunch (FFB) yield and a 24% increase in FFB price. Meanwhile, the average crude palm oil price registered was higher, reaching RM4,784 per tonne at that time.
