Enfrasys Consulting recognised as 2018 Microsoft Country Partner of the Year for Malaysia

KUCHING: Enfrasys Consulting Sdn Bhd proudly announced it has won the 2018 Microsoft Country Partner of the Year Award for Malaysia. The company was honored among a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology. Established in 2010, Enfrasys Consulting is a solution […]

Stock markets shrug off opening salvos in trade war

LONDON, June 22 — World stock market rose today, seemingly unworried by a global trade war that got underway when Brussels slapped retaliatory tariffs on the United States. Oil prices continued to rise after the Organisation of the Petroleum…

EU backs bigger war chest for failing banks but split on budget, debt

LUXEMBOURG, June 22 — European Union finance ministers agreed today to double a war chest for dealing with failing banks and boost powers of the euro zone bailout fund, but were split over whether to have a mechanism to restructure government debt…

Forced stock sales haunt China as UBS sees US$68b at risk

HONG KONG, June 22 — Three years after a wave of forced selling by margin traders fuelled a collapse in China’s stock market, a new breed of leveraged shareholders are threatening to trigger another downward spiral. More than 5 trillion yuan…

MyEG incorporates new subsidiary for investments in Indonesia

KUALA LUMPUR, June 22 — MY E.G. Services Bhd’s (MyEG) wholly-owned subsidiary, MY EG International Sdn Bhd, today incorporated a wholly-owned subsidiary that is intended to be the holding company for investments in Indonesia. In a filing with…

Comfort Gloves buys Perak land for RM13.22m

PETALING JAYA: Comfort Gloves Bhd is acquiring a piece of land measuring about 157,500 square metres in Kinta, Perak for RM13.22 million.

The company said its wholly owned subsidiary Comfort Rubber Gloves Industries Sdn Bhd had on June 22 entered into a sale and purchase agreement with Nestle Manufacturing (Malaysia) Sdn Bhd for the land purchase.

The purchase sum is to be satisfied in cash via internally generated funds.

Comfort Gloves said the proposed acquisition is in line with its future expansion plans and to take up more business opportunities.

Its shares gained 1.8% to close at 86 sen on 856,500 shares done.

Green Packet plans 1-for-5 rights issue to raise up to RM52.57m

PETALING JAYA: Green Packet Bhd proposes a renounceable rights issue exercise to raise up to RM52.57 million for its business expansion plans.

The group told Bursa Malaysia that the rights issue entails an issuance of up to 150.2 million rights shares on the basis of one rights share for every five existing shares held, together with up to 450.61 million warrants on the basis of three warrants for every one rights share subscribed.

Based on an indicative issue price of 35 sen per rights share, the gross proceeds from the proposed rights issue are expected to be as much as RM52.57 million.

Proceeds raised will be used for the purchase of trade equipment, future viable investment, working capital for media and digital services, fintech solutions and general working capital.

Meanwhile, assuming the full exercise of warrants, Green Packet is expected to raise up to RM157.71 million. The warrants may be exercised at any time within five years from the issuance date.

The group said apart from expanding the business organically, it may also expand inorganically via mergers and acquisitions of businesses or investments that will be in the same, similar or complementary industry to that of its existing business.

It noted that the proposed rights issue with warrants will strengthen the group's financial position with enhanced shareholders' funds and reduced gearing level as compared with bank borrowings.

Green Packet shares closed 6 sen or 17.6% higher at 40 sen on 3.13 million shares done.

European shares set for worst week in three months as trade worries bite

LONDON, June 22 — Strong financial stocks and better-than-expected French economic data helped drive a timid relief bounce in European shares at the end of a tumultuous week marred by trade war worries. The pan-European STOXX 600 and its euro zone…

Sapura Energy up 3% after winning 9 jobs

PETALING JAYA: Sapura Energy Bhd's share price rose 3.33% this morning after it secured nine new contracts valued at RM1.8 billion.

At 11.03am, Sapura Energy stood at 62 sen with 72.12 million shares changing hands.

Through its wholly-owned subsidiaries, the group will be executing a series of diverse jobs across the upstream value chain in Malaysia, Australia, India and Mexico.

The contracts win brought the accumulative value in contract wins to-date to RM4.5 billion for the group.

Intel CEO resigns after probe of relationship with employee

SAN FRANCISCO, June 22 — Intel Corp Chief Executive Brian Krzanich resigned yesterday after an investigation found he had a consensual relationship with an employee in breach of company policy. The head of the largest US chipmaker is the latest in…