THE following companies saw new developments that may affect trading of their securities on Friday (Jul 15):
Jardine C&C: JARDINE Cycle & Carriage has made an unconditional voluntary take-over offer for the nearly 10 per cent stakes it does not already own in Malaysia-listed Cycle & Carriage Bintang at RM2.70 a share.
Currently, the Singapore-listed offeror holds about 89.994 per cent of Cycle & Carriage Bintang, a Mercedes-Benz dealer listed on Bursa that operates 11 outlets for retail vehicles and provides after-sales services in Malaysia.
The offer at RM2.70 a share would translate to RM27.2 million for the stakes Jardine Cycle & Carriage wants to acquire, said the investment holding company in a bourse filing on Thursday (Jul 14).
INNOTEK: INNOTEK issued a profit guidance for its financial performance for the first half of FY2022 to June, as higher operating costs and customers’ operations disrupted by Covid-19 prevention measures hit its bottom line.
The precision metal components firm stated it would likely report a net loss when it releases its financial results in mid-August, according to a bourse filing on Thursday (Jul 14).
InnoTek attributed the loss to soaring costs of labour and manufacturing, as well as higher cost of raw materials due to disruptions to the global supply chain. It also said its turnover was hit by a drop in demand from its major customers operating in China, as the country imposed movement restrictions to stamp out Covid-19.
$Pavillon: MAINBOARD-LISTEDPavillon Holdings : 596 0%has been asked to hold an extraordinary general meeting (EGM) for the purpose of ousting the executive chairman and an independent director from the board.
Previously named Thai Village Holdings, the company said in a bourse filing on Thursday (Jul 14) that a letter from Seven Star Capital, signed off by Zheng Fengwen, is requisitioning the meeting to strip the executive chairman John Chen Seow Phun and independent director Ko Chuan Aun of their directorships.
The letter also calls for the company, which is in the business of restaurant operations, franchising and financial leasing, to appoint Zheng, the largest shareholder and former executive director of Pavillon, and major shareholder Teo Kiang Ang as director and executive chairman respectively at the EGM.
Pavillon: MAINBOARD-LISTED Pavillon Holdings has been asked to hold an extraordinary general meeting (EGM) for the purpose of ousting the executive chairman and an independent director from the board.
Previously named Thai Village Holdings, the company said in a bourse filing on Thursday (Jul 14) that a letter from Seven Star Capital, signed off by Zheng Fengwen, is requisitioning the meeting to strip the executive chairman John Chen Seow Phun and independent director Ko Chuan Aun of their directorships.
The letter also calls for the company, which is in the business of restaurant operations, franchising and financial leasing, to appoint Zheng, the largest shareholder and former executive director of Pavillon, and major shareholder Teo Kiang Ang as director and executive chairman respectively at the EGM.
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