Seacera Group Bhd, a Bursa Malaysia Main Market listed company that is involved in the tile manufacturing, property and construction businesses, announced that Seacera Builders Sdn Bhd, a wholly-owned subsidiary of the Company, has entered into a conditional share sale- with LT Century Development Sdn Bhd and LTC Holdings Sdn Bhd for the proposed acquisition of the Sale Shares representing 70% equity interest in Teras Sari Resources Sdn Bhd for a purchase consideration of RM35 million.
A filing with Bursa Malaysia showed that the Purchase Consideration will be fully satisfied via the issuance of 35 million new ordinary shares of Seacera at an issue price of RM1 per share. The Proposed Acquisition comes with a cumulative profit before tax guarantee of RM70 million for the financial year ending 31 December 2018, 31 December 2019, 31 December 2020 and 31 December 2021.
Petron Malaysia Refining & Marketing Bhd (PMRMB) ended the year with a strong performance in the fourth quarter of 2017, posting a net profit of RM100 million driven by higher sales volumes which reached 9.1 million barrels.
For full year 2017, PMRMB recorded a net profit of RM405 million - the highest since the entry of Petron. This includes non-recurring gains amounting to RM65.6 million from compulsory divestment of service stations that were acquired by the government.
Perak Transit Bhd, a Bursa Malaysia ACE Market listed company involved in bus terminal, bus services and petrol stations businesses, announced that the Company proposes to transfer the listing of and quotation for the entire issued share capital of Perak Transit and outstanding warrants 2017/2020 to the Main Market of Bursa.
In a filing with Bursa Malaysia, the Company say this marks another milestone for Perak Transit subsequent to its listing on the ACE Market of Bursa Securities on 6 October 2016. The Proposed Transfer signifies the growth and financial strength of Perak Transit as it has met the profit track record requirements for a transfer to the Main Market of Bursa Securities.