Latest news with #ReachEnergy
BusinessToday
02-05-2025
- Business
- BusinessToday
Bursa Malaysia Ends Morning Session Mixed; FBM KLCI Dips While Broader Market Advances
Bursa Malaysia ended the morning session on Thursday mixed, with the benchmark index slipping slightly while broader market indicators showed gains on the back of strong buying interest in small and mid-cap stocks. At 12.30 pm, the FBM KLCI eased 2.43 points or 0.16% to 1,537.79, retreating from an intraday high of 1,539.62 and a low of 1,532.23. The decline was led by profit-taking in selected blue-chip counters after recent rallies. In contrast, the FBM 70 surged 227.48 points or 1.43% to 16,172.85, signalling continued investor interest in mid-sized stocks. Similarly, the FBM ACE and FBM EMAS indices also posted gains, with the latter rising 37.07 points or 0.32% to 11,444.85. Gains were also seen in the FBM Shariah Index, which climbed 70.54 points or 0.63% to 11,344.83, while the FTSE4Good Bursa Malaysia Index inched up 1.94 points or 0.21% to 922.30, reflecting selective buying in ESG-compliant counters. Market activity was dominated by lower liners and small-cap stocks. Reach Energy was the most actively traded, gaining 2.5 sen to 54.5 sen with over 1.05 billion shares changing hands. NATGATE Holdings followed closely, adding 11 sen to RM1.47 on volume of 394.2 million shares. Tanco Holdings also saw strong demand, rising 1.5 sen to 87.5 sen. Other active counters included Avangard which remained flat at 27.5 sen, and JAKS Resources, which was last traded at 10.5 sen. Sentiment was buoyed by rotational plays in mid- and small-cap stocks, although gains were capped at the top end by cautious trading ahead of key economic data due later this week. Related
New Straits Times
27-04-2025
- Business
- New Straits Times
Bursa Malaysia publicly reprimands Reach Energy, fines six directors
KUALA LUMPUR: Bursa Malaysia Securities Bhd has publicly reprimanded Reach Energy Bhd and seven of its directors for breaching the Bursa Malaysia Securities Main Market Listing Requirements. In addition, six directors were imposed a fine of RM50,000 each, it said in a statement today. The exchange said Reach Energy was publicly reprimanded for failing to make the first announcement pursuant to Practice Note 17 (PN17) on an immediate basis upon announcement of the company's fourth quarterly report for the financial period ended Dec 21, 2022 on Feb 28, 2023. The company only made the first announcement on April 3, 2023 -- after a delay of approximately one month, it added. "Bursa Malaysia Securities views the breach seriously as the first announcement was crucial to shareholders and investors as it is related to Reach Energy's financial condition and the consequences of being classified as a financially distressed company pursuant to PN17 vis-à-vis possible suspension and delisting if the company fails to regularise its financial condition within the timeframe prescribed. "Hence, timely disclosure of information pertaining to classification/triggering of PN17 is important towards facilitating informed investment decisions," it said. Additionally, the exchange also reminded Reach Energy and its board of their responsibilities to maintain the appropriate standards of corporate responsibility and accountability to its shareholders and the investing public.
The Star
25-04-2025
- Business
- The Star
Bursa Malaysia publicly reprimands Reach Energy, fines six directors
KUALA LUMPUR: Bursa Malaysia Securities Bhd has publicly reprimanded Reach Energy Bhd and seven of its directors for breaching the Bursa Malaysia Securities Main Market Listing Requirements. In addition, six directors were imposed a fine of RM50,000 each, it said in a statement today. The exchange said Reach Energy was publicly reprimanded for failing to make the first announcement pursuant to Practice Note 17 (PN17) on an immediate basis upon announcement of the company's fourth quarterly report for the financial period ended Dec 21, 2022 on Feb 28, 2023. The company only made the first announcement on April 3, 2023 -- after a delay of approximately one month, it added. "Bursa Malaysia Securities views the breach seriously as the first announcement was crucial to shareholders and investors as it is related to Reach Energy's financial condition and the consequences of being classified as a financially distressed company pursuant to PN17 vis-à-vis possible suspension and delisting if the company fails to regularise its financial condition within the timeframe prescribed. "Hence, timely disclosure of information pertaining to classification/triggering of PN17 is important towards facilitating informed investment decisions," it said. Additionally, the exchange also reminded Reach Energy and its board of their responsibilities to maintain the appropriate standards of corporate responsibility and accountability to its shareholders and the investing public. - Bernama
New Straits Times
24-04-2025
- Business
- New Straits Times
Reach Energy to be delisted from Bursa Malaysia on April 29
KUALA LUMPUR: Reach Energy Bhd will be delisted from the official list of Bursa Malaysia Securities Bhd (Bursa Securities) on April 29, 2025 following the company's decision not to appeal the delisting. Bursa Securities said in a statement that it noted the company's announcement dated April 24, 2025, confirming its decision not to submit an appeal. "The securities of the company will be removed from the official List of Bursa Securities upon expiry of two market days from today, i.e. on April 29," it said. Reach Energy's securities currently deposited with Bursa Malaysia Depository Sdn Bhd will be withdrawn by the company following the delisting. However, Reach Energy will continue to update and maintain shareholders' records in its register. Upon delisting, the company will continue to operate as an unlisted entity. It remains able to carry on its business, pursue corporate restructuring and potentially reward shareholders based on performance. "However, shareholders will be holding shares which are no longer quoted and traded on Bursa Securities," it said, adding that the interests and rights of shareholders remain safeguarded under the Companies Act 2016.
