Bursa highlights for Thursday, March 31

Bursa highlights logo for Star Online (Business).

Bursa highlights on March 31

Trading in AirAsia Bhd’s securities will be suspended on Friday on the airline’s request pending “a material announcement”. Sources tell Reuters that the budget carrier would unveil a plan to raise up to US$200mil (RM774mil). Read more

MMC Gamuda KVMRT (T) Sdn Bhd -- a jointly controlled entity of MMC Corp Bhd and Gamuda Bhd -- has been appointed contractor for the underground works package of the Klang Valley MRT (Sg Buloh-Serdang-Putrajaya Line) for a whopping contract sum of RM15.47bil. Read more

Pestech International Bhd, meanwhile, has won a RM318mil contract to build and maintain the systems works under the project to upgrade Keretapi Tanah Melayu’s Klang Valley double track infrastructure and systems. Read more

WCT Holdings Bhd has received a RM133.93mil contract from MRT Corp to re-develop the 5-storey police quarters in Taman Keramat, Kuala Lumpur, into a 20-storey police quarters comprising 300 units and a five-storey of podium carpark. Read more

Parkson Holdings Bhd’s securities surged in active trade on Thursday, prompting a query from Bursa Malaysia Securities, but the department store operator and owner says it is unaware of the reasons for this. Read more

Sunway Bhd’s hospitality division Sunway Hotels and Resorts is investing RM875mil to facilitate a three-year redevelopment and extension plan to its hotels across Malaysia, Cambodia and Vietnam. (from media briefing) Read more

London-listed Aseana Properties Ltd, a 23.07% associate company of Ireka Corp Bhd. announced to the London Stock Exchange it is disposing of the Aloft Kuala Lumpur Sentral Hotel for RM418.7mil or about US$104.6mil.

The Wah Seong Corp group is eyeing to expand its building materials business in Sabah through a proposed joint venture (JV) between unit Syn Tai Hung Trading Sdn Bhd (STHT) and Kota Kinabalu-based ready-mixed concrete supplier Sabaconcrete Sdn Bhd, a company linked to former Sarawak state secretary Tan Sri Hamid Bugo. Read more

Econpile Holdings Bhd has bagged a RM51.6mil contract from Eco Meridian Sdn Bhd to provide bored piling and basement works for a business hotel development in Penang. Read more

Bursa Malaysia Bhd
is optimistic of its performance for this financial year ending Dec 31, 2016, although volatility is expected to continue, its CEO Datuk Tajuddin Atan tells reporters. Read more

Bina Darulaman Bhd group managing director Datuk Izham Yusoff tells reporters not to “read too much” into major shareholder Kedah State Development Corp’s request to postpone its EGM (originally scheduled for Thursday) on a proposed long term incentive plan. Read more
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