$SSTEEL (5665.MY)$ (Kuala Lumpur, 11th) [Share Link: Souther...
 obtained at least 51% of the ne...](https://sgsnsimg.moomoo.com/sns_client_feed/101835278/20240912/1726071258728-random7557-101835278-android-org.png/big?area=104&is_public=true)
(Kuala Lumpur, 11th) Southern Steel(SSTEEL, 5665, Main Board Industrial Product Services Group) has obtained a minimum of 51% new shares subscribed by Singapore Steel Company, indicating a change of control.
Due to the acquisition threshold, Green Esteel and its affiliates will be required to fully purchase the remaining shares, but Southern Steel will maintain its listing status.
Southern Steel announced today that it has reached a non-binding list of terms with Green Esteel Private Limited regarding the proposed issuance of shares, committing to issue new shares representing at least 50.1% of the expanded issued share capital of the company. Green Esteel will subscribe to these new shares at a price of 42 cents per share.
According to the announcement, Green Esteel is a Singaporean company, and its subsidiary is engaged in the production of prefabricated steel bars for concrete, steel bar trading, manufacturing and sales of wire mesh fences, and production of hot-pressed iron blocks.
Nanda Steel stated that the proceeds from the issuance of shares will be used to enhance the company's production and operating capabilities as well as for working capital. The experience and knowledge of Green Esteel in the steel industry are expected to help improve the company's capabilities and efficiency.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
101835278 OP : According to the financial magazine "The Edge's" statistics since the Asian financial crisis, after these 26 years of ups and downs in Malaysia's stock market, it was found that if investors had purchased DayLee Group in that year and held it until now, they would have received a total return of 240 times, or an annual compounded growth rate of 23.4%.
In other words, investing 1000 Ringgit in DayLee Group back then would now be worth 0.24 million Ringgit.
Next is Hong Leong Bank (HLBANK, 5819, main board financial stock), with a return rate of 102 times over 26 years; while CIMB International (CIMB, 1023, main board financial stock) ranked third, with a return rate of 87 times.
And if you had chosen to invest in Public Bank on September 1, 1998, the current return would be 83 times, ranking as the fourth highest return item.
It is especially important to note that the above statistics already include all corporate activities, including dividends, stock splits, and bonus shares calculations; and only include large listed companies with current market caps exceeding 10 billion Ringgit.