PETRONAS International receives first A3 issuer rating
Moody’s assigned a stable outlook, highlighting the overseas arm’s role in PETRONAS’ operations and its access to parental financial support.
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Moody’s assigned a stable outlook, highlighting the overseas arm’s role in PETRONAS’ operations and its access to parental financial support.
The adhesive maker traded at 24.5 sen at 9.15am, with more than 32 million shares changing hands.
Weaker orders and production weighed on operating conditions, while hiring accelerated and price pressures eased, according to S&P Global.
Full-year net profit fell 91.2% to RM1.39 million, while annual revenue dropped 38.3% to RM200.43 million.
The offer remains open until Oct 8, with Batu Kawan and Whitmore set to compulsorily acquire shares held by dissenting shareholders.
The RM130 million transaction is now due for completion at the end of the fourth quarter, with conditions still outstanding.
The two contracts cover electrical equipment and cables, with delivery expected within three months.
The group plans to use RM55.7 million of the proceeds for working capital, mainly property development costs.
The planned hotels will add 888 rooms, with openings scheduled for 2030 and 2032.
Taghill Projects awarded the three jobs to Exsim Concepto, with completion expected by early January 2027.