SEA1 Offshore loses substantial shareholder status in Propel Global
The Norway-registered shareholder sold 49.23 million shares, while separate filings recorded purchases by other shareholders and a director.
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The Norway-registered shareholder sold 49.23 million shares, while separate filings recorded purchases by other shareholders and a director.
Messrs Kudos SBC PLT accounts for 11 of the replacement appointments, while Adnex Group Bhd has selected Nexia SSY PLT.
The group plans to allocate RM21.3 million to new drilling rigs and RM4 million to a construction project in Sungai Petani.
The proposed repurchase covers up to 56.33 million shares, or 10% of issued shares, with an illustrative cost of approximately RM60.27 million.
The proposed fundraising would allocate RM33.50 million to repaying credit facilities and RM5.91 million to working capital.
Pembinaan Rizen Sdn Bhd awarded the two-year job, with works due to begin on Oct 28.
The RM1.8 billion development in Shah Alam is 30% owned by Perbadanan Kemajuan Negeri Selangor.
The agreement covers Malaysia, Singapore and Brunei, with regulatory approval required in each market.
The two-year extension runs until Feb 17, 2029, as Malaysia prepares to replace MyIMMs with NIISe.
The currency ended at 4.0800/0835 against the US dollar, while a Bank Muamalat economist projected third-quarter growth of around 5.2 per cent.