ta securities

 
 

Securemetric aims to raise RM17 mln from IPO

KUALA LUMPUR: Cyber security company, Securemetric Bhd, aims to raise RM17 million from its initial public offering (IPO) at 25 sen per share. The company will be retailing 17 million shares to the public till Oct 30 and is slated for listing on the ACE market on Nov 13. It will also issue 48 million […]


Bonia’s subsidiary CRG Inc to be listed on LEAP Market by end of November

PETALING JAYA: Bonia Corp Bhd's wholly owned subsidiary CRG Incorporated Bhd, which is the design, marketing and distribution company for Carlo Rino and CR2 brands, is expected to be listed on the LEAP Market of Bursa Malaysia Securities by end of November.

Outlining its plans in the information memorandum released today, CRG said it aims to increase its geographical footprint in Southeast Asia and the Middle East. This includes developing a strong online presence for its Carlo Rino brand in Southeast Asia over the next five years, to tap into the e-commerce market in the region which is expected to grow to US$29.4 billion (RM122.2 billion) in sales by 2020.

It has also granted Kafak the exclusive rights to use the Carlo Rino brand, as well as operate and manage boutiques carrying the Carlo Rino range in the Middle East for five years, with a five-year renewable period.

“Through this distributorship arrangement, we intend to expand our retail presence to other countries in the Middle East, including the UAE, Qatar and Bahrain,” it said.

In terms of expanding its product range, CRG said it is in the midst of undertaking research on the market for accessories and fashion-related collections, with the aim of launching various accessory product ranges over the next five years.

Its products are generally targeted at young working adults between 18 and 35 years old.

CRG's principal markets are Malaysia, Indonesia and Vietnam. In Malaysia, it has 39 boutiques and outlets, and 120 department store counters. It also has authorised distributors/dealers in Vietnam, Indonesia, Saudi Arabia and Brunei.

According to an information memorandum by the approved adviser and continuing adviser, TA Securities Holdings Bhd, the distribution of CRG shares to entitled shareholders and cash payout, to entitled shareholders who hold less than 100 Bonia shares, is expected to take place in mid-November.

The demerger of CRG involves a series of transactions namely capitalisation, subdivision, conversion and dividend-in-specie. The capitalisation, subdivision and conversion have been completed as of Aug 13.

Bonia will distribute via a dividend-in-specie, its entire shareholding in CRG and rights to CRG shares, to the entitled shareholders on the basis of one CRG share for every one Bonia share, upon receipt of approval-in-principle from Bursa Malaysia Securities for the listing.

The completion of the dividend-in-specie will result in the demerger of CRG from Bonia, and the entitled shareholders will directly hold shares in the same proportion as their shareholdings in Bonia, except for those who hold less than one board lot of Bonia shares, who will be paid cash in lieu of the number of shares they are entitled to.


KL shares remains negative at mid-morning

KUALA LUMPUR, Sept 28 — Shares on Bursa Malaysia remained in negative territory at mid-morning bucking the regional trend, following overnight gains on Wall Street, dealers said. The local bourse was weighed down by selling in heavyweight stocks…


KLCI falls 13.92 points as local stocks catch up with regional decline

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KUALA LUMPUR (Sept 12): The FBM KLCI fell 13.92 points or 0.77% to close at 1,785.25 today in what appears to be a catch-up with the decline in other Asian markets as it reopened after a two-day holiday. Market breadth across the bourse was strongly negative, with 778 stocks declining and just 146 recording gains. “It looks like contagion fears are increasing,” said said Stephen Soo, senior technical analyst at TA Securities. “It could also be a currency play, with regional funds continuing to exit.” Investors appear psychologically bearish despiteRead More


Supermax likely oversold after selldown following quarterly results

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KUALA LUMPUR (Sept 6): Shares of Supermax Corporation Bhd may be in an oversold position following the selldown over the last couple of days after the glove maker announced its quarterly results. Hong Leong Investment Bank’s head of retail research Loui Low said Supermax may have been oversold as technical indicators show that the support level for the stock is seen at RM3 to RM3.12. Supermax was down eight sen or 2.5% at RM3.13 as at 3.20pm with about 6.1 million shares traded. This is higher than the stock’s 30-dayRead More


FBM KLCI starts lower before rising amid US-China trade concerns

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KUALA LUMPUR (Sept 6): The FBM KLCI opened lower before rising on bargain hunting amid concerns on US-China trade war escalation and contagion from weak currencies in emerging markets. At Bursa Malaysia, the KLCI opened 0.32 point lower at 1,795.82 at 9am. At 9:25am, the KLCI rose 1.26 points to 1,796.76 on bargain hunting after the index slipped 17.26 points yesterday. Today, TA Securities Holdings Bhd wrote in a note : “The local market should remain weak amid fears over escalation on global trade conflict and contagion from weak currenciesRead More


FBM KLCI down after volatile trade; Genting Malaysia up

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KUALA LUMPUR (Aug 30): The FBM KLCI pared losses for a 1.01-point or 0.06% drop after volatile trade as investors evaluated Malaysian corporate earnings and as China-US trade spat concerns lingered. The Malaysian corporate financial reporting season for the April-June quarter is nearing conclusion today. The reporting season starts in July although most companies announce their earnings in August. At Bursa Malaysia today, the KLCI settled at 1,819.63 at 12:30pm. The KLCI had earlier risen to its highest so far today at 1,822.92 and fallen to its lowest at 1,817.83.Read More


FGV drops after company slipped into red in 2Q

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KUALA LUMPUR (Aug 29): FGV Holdings Bhd shares fell as much as 15 sen or 9% to RM1.50 so far today after the plantation group announced yesterday a net loss of RM23.23 million for the second quarter ended June 30, 2018 (2QFY18) versus a net profit of RM37.26 million a year earlier. FGV said 1HFY18 net loss stood at RM21.9 million compared to a net profit of RM38.96 million a year ago. At 11:02am today, the stock was traded at RM1.57 with some eight million shares transacted. CIMB Research wroteRead More


China traders sell record Hong Kong stocks as Tencent stings

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HONG KONG, Aug 29 — Chinese investors have dumped Hong Kong stocks at a record clip this month, as the city’s equity benchmark tumbled to its lowest in a year. Mainland investors sold net HK$25.4 billion (RM13.25 billion) of Hong Kong equities…


FBM KLCI down as China-US trade spat hits sentiment

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KUALA LUMPUR (Aug 24): The FBM KLCI fell 8.09 points or 0.45% on profit taking and as global investors took cue from news on a new round of tariffs in the China-US trade spat. At 12:30pm, the KLCI settled at 1,802.78. Investors took profit today after the index rose 12.76 points yesterday to close at 1,810.87. Today, Bursa Malaysia saw 927.18 million shares worth RM774.9 million traded as at 12:30pm. TA Securities Holdings Bhd wrote in a note: “The two-tier performance on the local market, with blue chips rising inRead More