EVENING 5: IJM aborts Pestech stake deal, aerotrain JV still on
Here’s a quick look at some of the stories that made headlines today.
Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.
1. IJM Corp Bhd’s proposed acquisition of a 44.83% stake in Pestech International Bhd in a RM124 million cash deal has fallen through.
2. 99 Speed Mart Retail Holdings Bhd has launched Malaysia’s biggest initial public offering in seven years, which would raise up to RM2.36 billion for its Main Market listing.
3. Pharmaceutical company Duopharma Biotech Bhd saw its net profit grow 33.1% in the second quarter on higher revenue.
4. Boustead Heavy Industries Corp Bhd announced that its 51%-owned joint venture, BHIC AeroServices Sdn Bhd, has secured a RM378 million contract to support for the Royal Malaysian Air Force's EC725 helicopters.
5. Property stocks extended losses in the evening session on Thursday, as weaker-than-expected financial results from S P Setia Bhd triggered profit taking in the sector.