AtacmsNo idea...Anyway I think demand for steel will rise due to robust construction activities
27/10/2023 11:49 AM
AlbukharyWe refer to the query from Bursa Malaysia Securities Berhad (“Bursa Securities”) via its letter dated 26 October 2023 in relation to the Article Entitled: "Tycoon Quek's Hong Leong considering sale of Southern Steel stake, sources say" appearing in The Edge Malaysia dated 25 October 2023.
The Company, having made due inquiry with its Board of Directors, its major shareholder and all such other persons reasonably familiar with the matter, wishes to confirm that as of the date of this announcement, it is not aware of any agreement involving the Company entered into by the major shareholder which requires disclosure pursuant to Main Market Listing Requirements of Bursa Securities (“MMLR”).
The Company will make the necessary announcement to Bursa Securities when it becomes aware of any material development involving the Company, in compliance with its obligations under the MMLR.
Shareholders and investors are advised to exercise caution in trading in the shares of the Company.
27/10/2023 2:14 PM
AlbukharyThis type of announcement make us more convince there is something brewing.
27/10/2023 2:21 PM
AlbukharyLast time when The Edge first reported that Boustead have intention to dispose BPLANT, Boustead also announce that it has not aware about any agreement entered by its major shareholder LTAT.
AhmadrazakTan Sri Quek want to sell at RM2.30 per share.
31/10/2023 8:52 AM
AhmadrazakHong Leong Group looking to sell its 70% stake in steel manufacturer for as much as RM956 million.
PETALING JAYA: Southern Steel Bhd’s shares surged 31.25% or 18 sen on reports that billionaire Quek Leng Chan’s Hong Leong Group is considering selling its stake in the steel products manufacturer for as much as US$200 million (RM956 million).
It hit an intraday high of 74 sen before paring its gains and closing at 73.5 sen with 1.32 million shares traded. People familiar with the matter said the Quek-controlled Hong Leong Group is working with advisers on the planned divestment of its 70% stake, according to a Bloomberg News report.Should the deal go through at the higher range of the valuation, it would be more than double the company’s current market value of RM438.29 million. headtopics.com
Additionally, they said the conglomerate and its advisers have reached out to companies within the industry and financial investors in gauging their interest. Apart from Hong Leong Manufacturing Group Sdn Bhd and Signaland Sdn Bhd, which are members of Hong Leong Group Malaysia, its other shareholders include the founding business families based in Penang, according to its website.
Southern Steel was listed in in 1993 on the Kuala Lumpur Stock Exchange, now known as Bursa Malaysia.
AtacmsI guess so. Still waiting for the latest announcement on that ...
04/12/2023 4:44 PM
AlbukharyDisposal proposal on table again? USD200mil?
06/12/2023 12:02 PM
Cnlimup you all will say proposal on table down say no deal haha
06/12/2023 12:51 PM
Albukhary@Cnlim, this is the fun part of being in the stock market. When topic is hot, we add oil and fire into it, make it more hot. When topic is cold, we put it into freezer quietly.
06/12/2023 1:30 PM
AlbukharyCan you smell something is brewing? USD200mil proposal is going to reveal soon...
