KUALA LUMPUR (March 2): Mieco Chipboard Bhd has proposed a 3-for-5 bonus issue which entails the issuance of 315 million shares in the company, it said today.
As at the last practicable date prior to the announcement, Mieco had an issued share capital of 525 million shares amounting to RM215.87 million.
The particle board manufacturer had no treasury shares or any outstanding convertible securities as at the latest practicable date prior to the announcement, it said.
The bonus issue will be undertaken without any capitalisation and will be issued as fully paid at nil consideration, it added.
Mieco expects the bonus issue to be completed in the second quarter of 2021.
KUALA LUMPUR (March 2): Based on corporate announcements and news flow today, companies in focus on Wednesday (March 3) may include Tenaga Nasional Bhd (TNB), UWC Bhd, Grand-Flo Bhd, CB Industrial Product Holdings Bhd (CBIP), Advancecon Holdings Bhd, TH Heavy Engineering Bhd (THHE), Techfast Holdings Bhd, Kanger Holdings Bhd and Mieco Chipboard Bhd.
Tenaga Nasional Bhd (
TNB) via wholly-owned subsidiary TNB Renewables Sdn Bhd has entered into a binding term sheet of collaboration with Singapore-based Sunseap Group to tap into the renewable energy (RE) and corporate power purchase agreement (PPA) market in Singapore.
TNB president and chief executive officer Datuk Baharin Din said in a statement that the collaboration is timely, in anticipation of the tender launched by Singapore’s Energy Market Authority for a trial of the Malaysia-Singapore cross-border energy supply. The launch is expected to take place this month (March 2021), he said.