KUALA LUMPUR: Puncak Niaga Holdings Bhd’s shares on Bursa Malaysia was higher in the morning session after the group received the nod from the Securities Commission (SC) to buy TRIplc Bhd for RM210 million cash.
As at 10.33am, the counter rose four sen to 80 sen with 588,440 shares traded.
In a news report on Wednesday, Puncak Niga said, the rationale of the exercise was to enable the group to enhance its construction revenue and long-term growth prospects and that of its subsidiaries.
The approval by the SC was granted under Section 214(1) of the Capital Markets and Services Act 2007, which gives it the power to approve an application related to corporate and equity-related transactions. -- BERNAMA