Stay updated with breaking news from Kinsteel bhd. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Aeon Credit, Uzma, Techna-X, Daythree Digital, TNB, Malakoff Corp, Jade Marvel, Bintai Kinden, Bonia, Glomac, Eco World International, Cosmos Technology, Ann Joo, Bumi Armada, SEGi, Jiankun, Capital A and UEM Sunrise msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR: Businessman Datuk Siew Mun Chuang has surfaced as a substantial shareholder of Scomi Group Bhd, controlling almost 62.5 million shares or about 5.3% equity interest in the oil and gas company, after acquisition on the open market. Siew acquired a chunk of shares on Aug 28, making him a substantial shareholder, according to a filing with Bursa Malaysia yesterday. Siew is managing director of the Oriental Group of Restaurants. He holds stakes in many companies which are linked to Tan Sri Abu Sahid Mohamed of the Maju group fame. According to Bloomberg, Siew has about 8.4% in Australia-listed Avalon Minerals Ltd, and is deputy chairman of the mineral exploration company. The largest shareholder of the company is Abu Sahid, who has about 15% stake. Siew is an independent and non-executive director of building materials manufacturer Ipmuda Bhd and has about 4.16% equity interest. Abu Sahid holds 8.9% and his Maju group has about 22% in Ipmuda. Siew is also an independent non-e ....
Malaysia's bad bailout habit | The Malaysian Insight themalaysianinsight.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from themalaysianinsight.com Daily Mail and Mail on Sunday newspapers.
Kinsteel Bhd's securities to be removed from official list of Bursa Securities theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
PETALING JAYA: Bursa Malaysia has rejected Kinsteel Bhd ’s proposed regularisation plan given the plan’s heavy reliance on its subsidiaries financial performance. The proposed regularisation scheme is dependent on Perfect Channel Sdn Bhd (PCSB) and Perfect Wiremakers Sdn Bhd (PWSB)’s ability to generate sufficient revenue, income and operating cash flow. PCSB and PWSB have registered low profit margins and continuing losses for the last five financial years from June 30,2016 to the 16-month financial period ended Oct 30,2020. PCSB has also temporarily ceased operation due to a fire incident involving its power transformer. “Notwithstanding the principal adviser’s representations that the proposed SOA reduces Kinsteel and its subsidiaries’ financial burden and pressure on cash flow and will contribute positively to the earnings of the Kinsteel Group, it is noted that the estimated savings via the reduction in the depreciation and finance costs are on ....