Top Glove Corp Bhd
(RM5.43/share)
Buys Melaka glove
firm
Top Glove Corp Bhd has proposed to acquire Melaka-based
rubber glove maker GMP Medicare Sdn Bhd from Matang Manufacturing Sdn Bhd for
RM24.1mil. The world’s largest glove manufacturer said the proposed acquisition
is in line with its plan to increase global market share. GMP is expected to
contribute to the profitability of the group going forward. The proposed
exercise is expected to complete within six months. – The Edge
KFC Holdings (M) Bhd
(RM3.79/share)
Allocates RM65mil for
outlets expansion
KFC Holdings (M) Bhd (KFCH) has set aside an annual fund of
RM65mil for the expansion of its fast food outlets – KFC and Pizza Hut
nationwide with the growth projection of 10% yearly. Managing director of QSR
Brands Bhd dan KFCH Jamaludin Ali said RM40mil was allocated for KFC
restaurants and RM25mil was set aside for Pizza Hut. He said the bulk of the
allocations would be utilised for the construction of the drivethru concept
which generates higher revenue. – StarBiz
Construction Sector
KEuro to sign soon to
build RM7bil West Coast Expressway
Kumpulan Europlus Bhd (KEuro) is in the final round of
discussions with the authorities to build the RM7.07bil West Coast Expressway
and it expects to sign an agreeement in two months. Bernama quoted KEuro
chairman Datuk Abdul Hamid Mustapha as saying that the company was in
discussions with the authorities to “get some understanding” before an
agreement was signed. The construction of the 316km expressway from Banting to
Taiping would start in the second quarter of next year after the fund-raising
exercise was completed. The expressway is expected to take five years to
complete. The funding of RM1.0bil would be derived from its shareholders and
loans including RM2.24bil from the Government. KEuro has a 64.2% stake in West
Coast Expressway Sdn Bhd, which is tasked by the Government to build the
project. IJM Corp Bhd has a 22.7% stake in KEuro and the former had acquired an
additional 20% direct stakes in West Coast Expressway in March this year. -
StarBiz
Source: AmeSecurities
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