Latest news with #RM5.3mil
The Star
06-06-2025
- Business
- The Star
Nylex's major shareholder Ancom Nylex proposes selective capital reduction, repayment of 5.1c/share
PETALING JAYA: Ancom Nylex Bhd and its wholly-owned subsidiary Rhodemark Development Sdn Bhd (RDSB), as controlling shareholders of the now-delisted Nylex (M) Bhd , have proposed a selective capital reduction and repayment exercise (SCR) to return RM5.3mil — or 5.1 sen per share — to eligible shareholders, according to a filing with Bursa Malaysia. Nylex was classified as an affected listed issuer after disposal of its entire business to its holding company, Ancom Nylex Bhd, triggering Paragraph 8.03A(2) of the Main Market listing requirements of Bursa Malaysia Securities whereby Nylex has an insignificant business or operations after the disposal. As a result, Nylex was delisted after Bursa Securities dismissed its appeal for a further extension to submit a regularisation plan in March 2025. Under the proposed SCR, all shareholders of Nylex other than joint offerors — Ancom and Rhodemark Development Sdn Bhd (RDSB) — whose names appear in the record of depositors of Nylex will collectively receive a total capital repayment of RM5.3mil, which represents 5.1 sen for each Nylex share. As at the latest practicable date, the entitled shareholders held about 103.9 million shares, representing 57.79% of Nylex's issued share capital, excluding treasury shares. 'For the avoidance of doubt, the joint offerors will not be entitled to the capital repayment pursuant to the proposed SCR,' Ancom noted in a filing to the exchange. The exercise will cancel the shares held by the entitled shareholders, proportionately increasing the joint offerors' stake to 100% of Nylex's share capital upon completion. 'The proposed SCR provides an opportunity for the entitled shareholders to realise their investments in the unlisted Nylex shares, returns capital resources of Nylex to shareholders in a timely manner and also accords the joint offerors greater flexibility in managing Nylex's business moving forward,' the filing added. The capital reduction will be funded from Nylex's internal funds and is not expected to materially impact the Joint Offerors' financial position. The proposed SCR is subject to the approval of non-interested entitled shareholders via a special resolution at an extraordinary general meeting and the High Court granting an order confirming the capital reduction.
The Star
24-04-2025
- General
- The Star
Firefly sanctuary funded by federal government launched in Kemaman
The firefly sanctuary project in Kampung Yak Yah in Chukai, Terengganu, stands not only as a symbol of environmental conservation but also a driver of growth for the local economy. Deputy Housing and Local Government Minister Datuk Aiman Athirah Sabu said the RM5.3mil initiative, which began in 2019, was fully completed in April last year. Funded entirely by the Federal Government, the project aims to conserve, restore and rehabilitate the firefly population within the Sungai Chukai ecosystem, reported Bernama. 'This project was implemented by the Housing and Local Government Ministry (KPKT) under the Landscape Conservation Programme through the National Landscape Department, in collaboration with Kemaman Municipal Council,' she said after officially launching the sanctuary. As part of efforts to protect the firefly habitat, 200 mangrove trees, 2,000 berembang (mangrove apple) and 500 nipah palms were also planted along the river. Aiman Athirah said the sanctuary was equipped with a range of facilities, including a jetty for visitors, information centre and boat services for guided river tours. It has also been recognised as one of Malaysia's leading firefly-viewing destinations due to the presence of the Pteroptyx tener, a firefly species known for its ability to flash in synchrony. 'This makes the sanctuary a significant draw for both nature enthusiasts and eco-tourists,' she said. Aiman Athirah added that the sanctuary would also function as a hub for research, environmental education and volunteer-led conservation initiatives.
