KUALA LUMPUR, Dec 9 -- Petroliam Nasional Bhd (Petronas) has successfully completed block trades of its shares in MISC Bhd, Petronas Dagangan Bhd and Petronas Gas Bhd.
The national oil firm said the block trades were marketed to Malaysian institutional funds and carried out as part of Petronas’ portfolio management strategy.
“We remain committed to these companies which are essential entities in the PETRONAS integrated business value chain,” said Petronas in a statement today.
The sale of the shares would also allow for more local participation and ownership in the publicly listed companies, it said, adding that Petronas retained its controlling stake in MISC, Petronas Dagangan, and Petronas Gas, which will continue to be its subsidiaries.
According to a news report, Petronas raised about RM6 billion by reducing its stakes in three listed units.
Quoting sources, the report said the share placements were executed on Monday, and the selldown will rank among the biggest-ever block trades in Malaysia.
Petronas is raising capital to fund overseas expansion after finishing a US$27 billion refinery and petrochemicals project at Pengerang, Johor, said the news report.
KUALA LUMPUR, March 28 -- Bank Pembangunan Malaysia Bhd (BPMB) will provide all relevant support to its customers facing difficulties including granting a moratorium on repayments/payments of loans/financings for a period of six months.
KUALA LUMPUR, March 27 – Tenaga Nasional Berhad (TNB) has pledged RM150 million to support the government’s announcement of a tiered electricity rebate to assist affected Malaysians following the extension of the Movement Control Order (MCO) period until April 14.
KUALA LUMPUR, March 26 -- Energy and Natural Resources Minister Datuk Dr Shamsul Anuar Nasarah has expressed confidence on the preparedness of Tenaga Nasional Bhd (TNB) in revving up its capacity to meet electricity supply demand in the Peninsula during the Movement Control Order (MCO).
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