Bursa highlights for Friday, Jan 29

  • Corporate News
  • Friday, 29 Jan 2016

Bursa highlights logo for Star Online (Business).

Bursa highlights on Jan 29

Steel structure fabricator Rohas-Euco Industries Bhd (REI), once-listed company which was taken private in late 2007 by prominent businessman Tan Sri Wan Azmi Wan Hamzah and his associates, is set for a Bursa Malaysia comeback by way of a reverse takeover of cash company Tecnic Group Bhd. A definitive agreement to start the ball rolling has been signed. Read more

The country’s largest dry bulk shipper Malaysian Bulk Carriers Bhd, whose substantial shareholders includes the Kuok group and Minister of Finance inc, has issued a profit warning that it expected “a substantial loss” in the fourth quarter of last year and the entire 2015 financial year. This is due to provisions for unprofitable contracts and for impairment of investment in Singapore-listed associate company, PACC Offshore Services Holdings Ltd. Read more

Ranhill Holdings Bhd, which operates two power plants in Sabah and supplies potable water in Johor under an exclusive licence for the entire state, seems to have some difficulty attracting institutional investors. It has delayed its listing date from Feb 18 to March 16 to facilitate the institutional offering, The company, which also has 15 wastewater and water concessions in China and Thailand, says the institutional offering period has been extended from Feb 2 to Feb 29 and the closing date of the retail offering is now Feb 25 (previously Jan 29). Read more

Barakah Offshore Petroleum Bhd has received a contract to install two pipelines with a combined length of 168km under the Petronas Carigali-operated gas projects offshore Miri, Sarawak. However, it does not give an estimate on the contract’s value. Read more

Sime Darby Bhd has found a strategic partner for the operation of its liquid terminal at Weifang Port, China. It will reduce its stake to 50% from 99% previously, and Hong Kong-listed integrated liquid terminal services provider Dragon Crown Group Holdings Ltd is buying the rest. Sime Darby wants to leverage on Dragon Crown’s technical expertise and well-established network and reputation, in addition to share the cost and risk in the China business. Read more

Hap Seng Consolidated Bhd and Naza TTDI Sdn Bhd will co-develop an 8.95-acre mixed development project (within Naza’s KL Metropolis masterplan) with a gross development value of RM3.8bil. Read more

The Energy, Green Technology and Water Ministry’s water supply department has awarded Puncak Niaga Holdings Bhd the three-year tender to operate and maintain a water treatment plant in Beaufort, Sabah, which supplies water to Labuan. Read more

Hong Leong Financial Group has appointed Tan Kong Khoon as president and CEO with effect from Feb 5. Hong Leong Bank, meanwhile, announced the appointment of Domenic Fuda as group managing director and CEO to replace Tan. Read more
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