Bursa Highlights logo for Star Online (Business).
Bursa highlights on July 25
* Cahya Mata Sarawak Bhd (CMS) and Bina Puri Holdings Bhd, in a joint venture (JV), have secured a RM1.36bil contract to develop and upgrade the stretch of Pan Borneo Highway from Sg Awik bridge to Bintangor junction (Sarawak). PPES Works (Sarawak) Sdn Bhd, which is 51% owned by CMS and the rest by Sarawak Economic Development Corp, holds a 70% stake in the JV whlle Bina Puri has 30%. Read more
* YTL Corp Bhd proposed to take its information technology subsidiary YTL e-Solutions Bhd private by offering new YTL Corp shares in exchange for YTL e-Solutions shares. It offered to buy all the remaining voting shares of 10 sen each (excluding treasury shares) it did not already own in YTL e-Solutions for 55 sen each. This will be satisfied by issuing up to 116.078 million new 10-sen YTL Corp shares at an issue price of RM1.65 based on an exchange ratio of about 0.333 YTL Corp share for each YTL e-Solutions share tendered. Read more
* SapuraKencana Petroleum Bhd’s unit has secured a US$113mil (RM461mil) contract to build an 18km gas pipeline in Mexico from Pemex Exploracion y Produccion, the exploration and production arm of Mexican national oil company Petroleos Mexicanos. Read more
* The High Court dismissed the originating summons that Scomi Engineering Bhd’s unit filed to start legal proceedings against the KL Monorail operator Prasarana Malaysia Bhd for giving it a notice to terminate a RM494mil contract. Today (Tuesday) the court is scheduled to hear arguments as to whether the injunction to prevent the contract’s termination should be further extended pending appeal. Read more
* Offshore oil & gas facilities fabricator TH Heavy Engineering Bhd, queried by Bursa Malaysia Securities over the recent sharp rise in price and volume of its shares, said it is in preliminary discussions with the relevant government agency to secure a contract for the supply of offshore patrol vessels. Since Monday last week, its share price has doubled, closing at 16 sen on Monday this week. For the day, its share price gained 4.5 sen with 133.202 million shares changing hands.
* Electronics manufacturing services firm VS Industry Bhd proposed to subscribe to up to 20% of the enlarged paid-up share capital of NEP Holdings (M) Bhd, which assembles and sells water filtration systems under the Diamond brand, for RM60mil in cash. Lim Chang Huat, who owns 99.9% in NEP, made a profit after-tax guarantee of no less than RM40mil for NEP for the financial year ending June 30, 2017.
* ManagePay Systems Bhd, which provides merchant acquisition services and infrastructure for e-payment between merchants and financial institutions, has received from Bank Negara the licence to carry out money services business for a one-year period starting July 13, 2016, and renewable yearly, for issuance of e-money. With the Class B Licence, ManagePay will be able to conduct domestic fund transfer activities among the MPay’s e-Money users via MPay Portal and/or MPay Wallet.
* Bursa Malaysia Bhd posted earnings of RM49.47mil for the second quarter ended June 30, close to the RM49.49mil recorded a year earlier. For the half-year, earnings grew 3% to RM99.41mil. Read more
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