6 stories mentioning KLSE:GFMUpdated 2h ago
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GFM Services (KLSE:GFM) subsidiary, Shapadu CR Asia, received a revised release order from Pengerang Refining, raising the order's estimated value to 104.2 million ringgit, according to a Monday Bursa Malaysia filing.The order covers major turnaround work packages, with works expected to begin in March 2027.
Malaysian shares ended in the green on Tuesday, extending gains of the previous three sessions. The index closed higher in line with a broadly positive regional performance.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 6.93 points to end 0.4% higher at 1,732.66.In corporate news, shares of GFM Services' (KLSE:GFM) jumped over 5% on Tuesday's close after its energy division secured additional release orders worth a total of 83.1 million ringgit for major turnaround work packages at the Pengerang Integrated Complex in Johor, Malaysia.Nestcon's (KLSE:NESTCON) subsidiary, Nestcon Builders, was awarded a contract worth 74.5 million ringgit by Exsim MX 4 for the construction of a 28-story apartment block in Selangor, Malaysia. Shares ended flat on Tuesday.Whereas, shares of AMS Advanced Material (KLSE:AMS), slid over 1% on close after its unit AMS Ecogreen received all necessary licences to begin its aluminium scrap metal business.
GFM Services' (KLSE:GFM) energy division secured additional release orders worth a total of 83.1 million ringgit for major turnaround work packages at the Pengerang Integrated Complex in Johor, Malaysia, according to a Tuesday filing with the Malaysian bourse.The company's shares were up over 5% in recent trade.The release orders include 16.3 million ringgit secured by its wholly owned subsidiary, Highbase Strategic, from PETRONAS Chemicals Isononanol, and 66.8 million ringgit secured by its 60%-owned subsidiary Shapadu CR Asia, from Pengerang Refining Company.The orders are under the company's existing integrated turnaround main mechanical and maintenance mechanical static contract, which are expected to commence in 2027. The group expects the release orders to contribute positively to earnings for the financial year ending Dec. 31, 2027.With its earlier orders of 148.2 million ringgit, the group has secured work packages worth a total of 231.3 million ringgit for the upcoming turnaround cycle at Pengerang Integrated Complex.
GFM Services (KLSE:GFM) terminated its proposed acquisition of the remaining 60% stake in Atmajaya Arvino, after the seller failed to meet conditions required for the second tranche of the deal by the June 30 deadline, according to a Wednesday Malaysian bourse filing.The company said the acquisition was called off on July 1 following the non-fulfilment of the agreed conditions within the stipulated timeframe.GFM added that the termination is not expected to have a material impact on the group's earnings per share or net assets per share.
Malaysian shares fell for a fifth straight session on Tuesday, weighed down by accelerating domestic headline inflation data and and cautious investor positioning.The FTSE Bursa Malaysia KLCI shed 0.44 points to end 0.03% lower at 1,727.27. The day range was between 1,726.13 and 1,734.32.In economic news, Malaysia's consumer price index rose 1.9% annually in April, faster than 1.6% in March, the Department of Statistics Malaysia said. The latest reading was slower than the 2.1% growth forecast by Trading Economics. Core inflation, which excludes volatile items, edged down to 2% from 2.1% a month prior, data showed.Malaysia booked nearly 89.4 million ringgit in potential sales during its participation in the Franchise and License Expo Indonesia (FLEI) 2026 held in Jakarta, Malaysia External Trade Development (MATRADE) reported.In corporate news, shares of GFM Services (KLSE:GFM) dropped about 6% at Tuesday's close after it said it will seek shareholders' approval to renew the share buyback authority in the company's upcoming annual general meeting.Meanwhile, Skyechip (KLSE:SKYECHIP) is slated to list on Wednesday on Bursa Malaysia's Main Market under the stock code 5357 and name SKYECHIP. The semiconductor company will debut under the technology sector with an enlarged issued share capital of 405.5 million ringgit following its public listing exercise.
GFM Services (KLSE:GFM) will seek shareholders' approval to renew the share buyback authority in the company's upcoming annual general meeting, according to a Tuesday Malaysian bourse filing.Shares slid about 3% in Tuesday's midday trade.The company will share a detailed statement of the repurchase plan with shareholders in due time.
