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Based on corporate announcements and news flow today, companies in focus on Monday (June 28) may include: Serba Dinamik Holdings Bhd, IOI Corp Bhd, HB Global Ltd, Malaysia Airports Holdings Bhd, MY EG Services Bhd, Yinson Holdings Bhd and MyNews Holdings Bhd.
KUALA LUMPUR: HB Global Ltd (HBG) is expected to have immediate access to at least RM1.1 billion in cumulative project value following the acquisition of a 60 per cent stake in Forward Resources and Construction Sdn Bhd (FRC) for RM66 million.
China-based food processing and duck farming company HB Global Ltd has acquired 5G fibre optic cable company, Forward Resources and Construction Sdn Bhd (FRC) with RM1.1 billion project value. In a statement Thursday, the group said the acquisition comes with a profit guarantee of RM20 million for two cumulative financial years. It has also proposed to diversify into the business of construction and engineering solution services. Following the acquisition of 60 per cent stake in FRC for RM66 million, the group said FRC is expected to contribute over 25 per cent of the net profit, g...