Bursa highlights on June 1
* A new suitor for SILK Highway in Kajang has emerged: bauxite miner WZ Satu Bhd (previously an IJM Corp unit had eyed the tolled highway but the deal was aborted). Silk Holdings Bhd has signed a heads of agreement to dispose of its 100% equity interest in tolled highway concessionaire Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd to WZ Satu for RM368mil, to be paid in cash and WZ Satu shares. Read more
* Scomi Engineering Bhd has secured additional works for the Line 17 – Gold Sao Paulo monorail project in Brazil worth RM504.6mil, increasing its total contract value to RM601.8mil. Read more
* Global packaging manufacturer and property developer Scientex Bhd posted a net profit of RM61.3mil in the third quarter ended April 30, 2016 (Q3), a jump of 42.6%, compared with RM43mil a year ago. Read more
* PBA Holdings Bhd’s unit Perbadanan Bekalan Air Pulau Pinang Sdn Bhd (PBAPP) has been given a term loan of RM80mil by the Penang state government for capital expenditure in relation to the replacement and upgrading the water treatment plants and water reservoirs. The State Secretary, Penang is PBA’s majority shareholder. The loan period is 13 years with a 4% interest rate per year.
* A unit of Alam Maritim Resources Bhd has bagged a RM28.3mil contract from Petroliam Nasional Bhd’s wholly-owned subsidiary Petronas Floating LNG 1 (L) Ltd for the floating liquefied natural gas offshore works involving the supply of miscellaneous marine spreads.
* Kinsteel Bhd’s application to the Finance Ministry to waive the stamp duty for the debt restructuring agreement with creditors (RHB Bank, OCBC Bank, Bank Muamalat, CIMB Bank, Maybank, Hong Leong Bank, AmBank, etc) has been rejected. The management currently seeks legal advice as to the viability of further appeal to reduce the stamp duty in respect of those loan facilities which was previously exempted from paying stamp duty, being syariah-compliant activities.
Corporate news from functions
* Perodua Sales Sdn Bhd and Petronas Lubricants Marketing (M) Sdn Bhd, a unit of Petronas Dagangan Bhd, inked a RM355mil deal for the latter to supply 17 million litres of engine oil to Perodua, Read more
* Barakah Offshore Petroleum Bhd is bidding for RM1.7bil worth of jobs in the local and international markets, said group president and chief executive officer Nik Hamdan Daud. Read more
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