<div class=newsTextDataWrapInner>KUALA LUMPUR (Oct 2): Plastic component manufacturer SKP Resources Bhd may acquire the entire business of Tecnic Group Bhd for about RM200 million or RM5 a share, sources say. 
 
The source said the purchase price for Tecnic, which is also a plastic product company, translated into a price-to-earnings ratio (PER) of 10 times. 
 
“SKP Resources is the acquirer. They will buy the assets and liabilities of Tecnic Group at 10 times P/E,” the source told theedgemalaysia.com today. 
 
He also noted that the purchase price of RM200 million for Tecnic had fully valued the plastic manufacturing business of the company. 
 
Both SKP and Tecnic are expected to make announcements on the deal to the stock exchange by this evening. 
 
Trading of SKP and Tecnic shares has been suspended since last Tuesday (Sept 30). SKP was last traded at 69.3 sen last Monday (Sept 29) for a market capitalisation of 639 million. 
 
Tecnic shares stood at RM5.08 for a market capitalisation of about RM205 milllion.</div>

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KUALA LUMPUR (Oct 2): Plastic component manufacturer SKP Resources Bhd may acquire the entire business of Tecnic Group Bhd for about RM200 million or RM5 a share, sources say.

The source said the purchase price for Tecnic, which is also a plastic product company, translated into a ...

SKP may buy Tecnic for RM200m/RM5 a share - source

Iran’s foreign minister compared the drones used in an attack by Israel early Friday to “toys”, in comments that aimed at downplaying the significance of the strike on Iranian territory.

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A huge blast at a military base in Iraq early on Saturday killed a member of an Iraqi security force that includes Iran-backed groups. The force commander said it was an attack while the army said it was investigating and there were no warplanes in the sky at the time.

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The Madani government is committed to eradicating hardcore poverty in Sabah despite knowing the situation is quite complicated to resolve, said Prime Minister Datuk Seri Anwar Ibrahim.

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Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.

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Property developer Scientex Bhd aims to provide a total of 50,000 units of quality housing units at affordable prices nationwide by 2028.

Scientex project general manager (property division) Tang Song Teik said that so far, the company has handed over 35,062 affordable housing units, with about 70% of them sold at prices below RM300,000.

Barisan Nasional (BN) component parties are required to help the candidate representing the unity government in the Kuala Kubu Baharu state by-election, said BN deputy chairman Datuk Seri Mohamad Hasan.

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Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.

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The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.

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Persistent inflation and higher-for-longer interest rates were cited as key risks to financial stability in the Federal Reserve's (Fed) latest survey of US central bank contacts, with geopolitical troubles and the 2024 US presidential election also mentioned as "a potentially significant source of shocks".