ELITISTA - Info Saham

Sarawak Cable Bhd (KL:SCABLE) said it is being sued by Serendib Capital Ltd over the termination of the Memorandum of Agreement between the two parties to undertake a “resuscitation exercise” to revive the loss-making manufacturer. In a filing with Bursa Malaysia on Wednesday, Sarawak Cable said the UK-based company is seeking declaratory reliefs, specific performance, a permanent injunction and damages in the lawsuit.

KUALA LUMPUR (June 5): Leong Hup International Bhd’s (KL:LHI) group chief executive officer Tan Sri Lau Tuang Nguang has acquired a total of 8.88 million shares in the poultry, egg and livestock feed producer over the past week, for about RM5.02 million.

KUALA LUMPUR (June 5): Swiss investment bank UBS Group AG has ceased to be a substantial shareholder of YTL Corp Bhd (KL:YTL) after a series of share disposals since February, which eventually led to its shareholding in the company going below the 5% threshold.

XOX Bhd (KL:XOX) said it plans to consolidate every 30 of its shares into one share a month after its proposed share capital reduction to set off its accumulated losses. In a bourse filing on Wednesday, the loss-making mobile network operator said the share consolidation is part of its plan to improve its capital structure.

KUALA LUMPUR (June 5): The Australia & New Zealand Banking Group Ltd (ANZ) has disposed of its remaining 5.17% stake in AMMB Holdings Bhd (KL:AMBANK), said AMMB, confirming a report by The Edge last week that the Australian group was planning to exit Malaysia’s sixth-largest lender by assets.

An indirect unit of construction group Nestcon Bhd (KL:NESTCON) has secured a RM3.6 million contract to develop and install a solar photovoltaic (PV) system.

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