- News
- Market Watch
- Bursa Malaysia
- My Portfolio
- Exchange Rates
- Unit Trusts
- Market Intelligence
- IPO Watch
- Company Ratings
- Bonus & Dividends
- Financial Results
- Share Buybacks
- Changes in Shareholdings
- Currency Converter
- Investor Relations
- Maritime
-
Published: Thursday July 19, 2012 MYT 7:33:00 PM
Apex Equity records gain of RM14.9m from Australia firm sale
KUALA LUMPUR: Apex Equity Holdings Bhd expects to record a gain of RM14.9mil from the disposal of 17 million shares in Finbar Group Limited, which is listed on the Australian Stock Exchange.
It said on Thursday that its Australian stockbroker, Investorfirst Securities Ltd, had disposed 17 million Finbar shares of A$1 each for A$17mil (RM54.84mil)
Finbar, which is a property investment and development company in Perth, Australia, builds apartments, town houses, residential and specialised commercial buildings in the Perth metropolitan area.
It has a paid-up capital of A$132mil, divided into 214.17 million shares.
Apex Equity said the rationale for selling the Finbar stake was due to global economic uncertainties and the negative outlook for global stock markets.
"The strong Australian currency provide an opportunity to realize the gain on investment which has appreciated substantially," it said
Apex Equity said the proceeds would be first used for working capital purposes and those not needed for working capital be distributed to the shareholders.
- Probe on trainee who gave birth at PLKN camp
- American pastor’s murder: Two more Pakistan nationals charged
- William Yau inquest: Verdict later today
- Haze: Muar’s 200 schools to close temporarily from today’s afternoon session
- MCMC offers free money to small businesses, few takers
- Haze: Muar’s air quality turns hazardous; many private kindies close
- China’s Comtec to build one of world’s largest solar wafer making plants in Kuching for RM1.2bil
- Penang freak storm: Only part of Jalan Macalister is open to traffic; CM annoyed
- Hong Kong national involved in train-car accident in Kota Kinabalu dies
- Chieftains handing out dubious titles
- Titles with no standing draw renewed attention
- Nightmare over topless pictures
- Pakatan MPs to attend swearing-in
- ‘Body buried 13 storeys deep’
- Striptease queen married five times in search of true love, says author
- Asian markets in the red, KLCI down 10 points at midday (Update)
- Malaysia PC sales hit 898,000 in Q1, 2013, Lenovo top vendor
- RHB Research maintains "Neutral" on auto sector
- Kulim Malaysia offers RM812.3m for another 20% stake in NBPOL (Update)
- RHB Research maintains "Neutral" on IHH Healthcare
- Sumatec up ahead of meeting on O&G asset buy plan
- Ringgit falls to 1-yr low at 3.2010 versus US dollar
- Malaysia's KLCI falls nearly 10 points in early trade
- Malaysian equities to face selling pressure on Thursday
- Public Invest Research: TSH Resources becoming big cap plantation company
- US stocks down after Bernanke hints at slowing stimulus
- Assore - Assmang approves ferromanganese joint venture in Malaysia
- CIMB Research ups MY EG target price to RM1.74
- Malaysia-Market factors to watch on June 20(Thursday)
- Kulim to take another 20% stake in New Britain Palm Oil Ltd (Update)
- Murray poised to end Britain's 77 years of pain
- Steady as Jie goes
- Ferrer loses title after opening round loss
- Park preps for third major title bid at LPGA event
- Gavin Green confident he can take on title-holders this weekend
- Zhang switches focus on developing golf in China
- Thaworn hopes to find his ‘A’ game in Selangor Masters
- Paul Revington is glad to be back to train the Malaysian team
- Heavy task on Faizal’s shoulders
- Singapore Open: Chong Wei Feng fights to survive
- Rachel owes her rich vein of form to change in technique
- Future looks gloomy for men’s squash when Beng Hee calls it a day
- Khairy: RM8mil to be forked out for Sukma due to lack of sponsorship
- A chance for local cyclists to shine
- Rahul survives weekend of harsh hurdles in Norfolk
- AirAsia wants no further delays in opening of new low-cost terminal KLIA2
- Ringgit falls to 1-yr low at 3.2010 versus US dollar
- AirAsia X shares worth up to RM1.66 each
- Malaysian equities to face selling pressure on Thursday
- Malaysia's KLCI falls nearly 10 points in early trade
- Kulim to take another 20% stake in New Britain Palm Oil Ltd (Update)
- Use of psychometrics assessment for employees can be controversial
- Low bids for Hwang-DBS due to the banking group’s poor Q3 results
- Nusa Gapurna rejects PKNS offer to up stake in PJ Sentral
- Reality check on Asean Economic Community, is it rather ambitious?
- Use of psychometrics assessment for employees can be controversial
- Sumatec shareholders to vote on Kazakhstan oil and gas asset buy
- Sumatec up ahead of meeting on O&G asset buy plan
- AirAsia X shares worth up to RM1.66 each
- 3 parties said to be in talks to take over Luster
- Ringgit falls to 1-yr low at 3.2010 versus US dollar
- Public Invest Research: TSH Resources becoming big cap plantation company
- CIMB Research ups MY EG target price to RM1.74
- Assore - Assmang approves ferromanganese joint venture in Malaysia
- Low bids for Hwang-DBS due to the banking group’s poor Q3 results
RSS
