Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 5): SKB Shutters Corp Bhd has terminated the role of its sole agent and distributor in Dubai, Abu Dhabi and Oman — Dosteen Doors & Engineering Services LLC — according to a notice on the roller shutter and steel door manufacturer’s website.

SKB Shutters Corp did not specify the reasons behind the termination of Dosteen’s role as its agent and distributor.

"SKB Shutters Corp with its subsidiaries, namely SKB Shutters Manufacturing Sdn Bhd and SKB Storage Industries Sdn Bhd, have terminated its sole agent/distributor Dosteen and any of its related companies in Dubai, Abu Dhabi and Oman.

"Effectively immediately, Dosteen shall not supply or distribute or manufacture and install any SKB products or in any way represent SKB Shutters in any markets within and outside of Dubai, Abu Dhabi and Oman,” SKB Shutters Corp said.

On Bursa Malaysia today, SKB Shutters Corp’s share price hit limit up at a record high after rising 30 sen or 38.96% to RM1.07 ahead of the company's second-quarter financial results announcement this month.

The counter had seen 644,500 shares traded as at 11.12am. At RM1.07, the stock had a market value of about RM42.8 million, based on the company’s number of issued shares at 40 million.

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