KUALA LUMPUR: Shares of KBB RESOURCES BHD [] slipped in heavy trade in the morning session on Friday, July 1 in line with the cautious market and also after its chairman Datuk Mohamad Daud Dol Moin was charged with graft.
At midday, KBB shares fell two sen to 44 sen with 11.47 million shares done.
The FBM KLCI shed 0.3 of a point to 1,578.77. Turnover was 419.48 million shares valued at RM588.18 million. There were 273 gainers, 306 losers and 308 stocks unchanged.
The Malaysian Anti-Corruption Commission (MACC) arrested Mohamad Daud, a former assistant governor of Bank Negara Malaysia, over alleged corruption.
He was arrested on Thursday, June 30 and was charged in the Sessions Court at the Jalan Duta Court Complex here on Friday.
The MACC said in its twitters that Mohamad Daud, 58, was charged with accepting gratification of RM50,000 from a businessman on Dec 12, 2004 and again on Feb 16, 2005.
Its twitters said the contract was to print RM5 polymer bank note by Note Printing Australia Ltd for BNM worth RM95 million.
He pleaded not guilty and claimed trial on both counts of charges.
On Thursday, KBB's board of directors said it was in the final stage of signing the debt restructuring agreement.
It said the Corporate Debt Restructuring Committee (CDRC) had via its letter dated May 10, informed that the CDRC had received approval exceeding 75% of each class of creditors for the proposed debt revamp.
At midday, KBB shares fell two sen to 44 sen with 11.47 million shares done.
The FBM KLCI shed 0.3 of a point to 1,578.77. Turnover was 419.48 million shares valued at RM588.18 million. There were 273 gainers, 306 losers and 308 stocks unchanged.
The Malaysian Anti-Corruption Commission (MACC) arrested Mohamad Daud, a former assistant governor of Bank Negara Malaysia, over alleged corruption.
He was arrested on Thursday, June 30 and was charged in the Sessions Court at the Jalan Duta Court Complex here on Friday.
The MACC said in its twitters that Mohamad Daud, 58, was charged with accepting gratification of RM50,000 from a businessman on Dec 12, 2004 and again on Feb 16, 2005.
Its twitters said the contract was to print RM5 polymer bank note by Note Printing Australia Ltd for BNM worth RM95 million.
He pleaded not guilty and claimed trial on both counts of charges.
On Thursday, KBB's board of directors said it was in the final stage of signing the debt restructuring agreement.
It said the Corporate Debt Restructuring Committee (CDRC) had via its letter dated May 10, informed that the CDRC had received approval exceeding 75% of each class of creditors for the proposed debt revamp.
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