Sime Darby has inked a deal to sell its 30% stake in Tesco Stores (M) Sdn Bhd for RM300mil. The deal is estimated to provide Sime Darby with a net disposal gain of RM270mil.
YTL Corp’s indirect subsidiary YTL Starhill Global REIT Management Ltd, the manager of Singapore-listed Starhill Global Real Estate Investment Trust (Starhill Global REIT), has requested S&P Global Ratings to withdraw its corporate credit rating on the REIT and notes issued under the property trust’s medium-term notes programmes.
The REIT did not specify the reasons for its request for S&P to withdraw its corporate credit rating on Starhill Global REIT.
HeiTech Padu has bagged an RM19.89mil hardware and software upgrade contract from the National Registration Department. The two-year contract commences on May 1.
Ageson (formerly Prinsiptek Corp Bhd) has bagged a US$26.6mil (RM116.77mil) contract to sell natural sand to Hong Kong-based Boyijun Resources (HK) Ltd.
Minetech Resources’ unit Minetech Construction Sdn Bhd (MCSB) has received a letter of intent from Bumimaju MTE Engineering Sdn Bhd to appoint MCSB as a contractor to undertake a civil works project that is related to a pipeline laying project in Hulu Grik, Perak.
However, the monetary value of the contract was not disclosed.
CSC Steel is disposing of its entire 6% shareholding in CSGT Metals Vietnam Joint Stock Company for US$1.2mil (RM5.25mil), as it has not been able to secure a commanding share of the Vietnam steel market.
MCE Holdings is teaming up with Taiwan-based Juoku Technology Co Ltd to develop, produce and supply automotive lighting parts in Malaysia.
Nexgram’s unit Nexgram Industries Sdn Bhd has entered into a deal to sell medical ventilators to an Indonesian firm, PT Rafa Topaz Utama, for distribution in East Jakarta and certain other parts of Southeast Asia.
Kiplepay Sdn Bhd, a unit of Green Packet, recently teamed up with the Coalition of Malay Small Traders Association (GPPPKMM) to launch a ‘Warong Digital e-Bazaar Ramadan’ programme.
The programme uses Kiplepay’s e-wallet, which allows local traders to conduct online transactions and provides a cashless experience for customers.
IGB REIT’s net property income fell 14.6% year-on-year, no thanks to the lower income to the rental support provided to tenants, and lower car park income, arising from the COVID-19 pandemic and Movement Control Order (MCO) since mid-March.
Meanwhile, US markets rose overnight after oil prices rebounded and investors await for the jobless claims data later today.
Similarly, European stocks advanced following a sharp rebound in oil prices.
“Following the positive performances in the US and Europe, the FBM KLCI could remain buoyed with resistance at 1,415 points,” JF Apex said.
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