Trading ideas: Nestle, Velesto Energy, Samaiden


KUALA LUMPUR: Stocks with corporate announcements to watch for on Thursday include Nestle, Velesto Energy, Samaiden, EcoFirst, Paragon Glove, Ageson, MMHE, AirAsia and Genting Malaysia, said JF Apex Research.

Nestle has invested a total of RM150mil to set up a plant-based meal solutions manufacturing facility in Shah Alam.

The facility, which is the first in Aseanand one of the only two in Asia, will cater to the rising demand for plant-based food and will supply local demand as well as exports.

Velesto Energy said its unit Velesto Drilling Sdn Bhd has bagged a contract worth US$17.68mil for the provision of jack-up drilling rig services.

Samaiden has proposed a bonus issue of up to 105 million warrants on the basis of one warrant for every two existing shares.

EcoFirst is acquiring a 51% stake in BCM Holdings Sdn Bhd, the owner of 4.18 acres of freehold land in Sungai Besi, for RM81.6mil.

Paragon Globe has proposed a rights issue to raise up to RM56mil to help pay for a property acquistion in Johor and fund the construction of a medical centre in Selangor.

A forensic audit by Ferrier Hodgson MH Sdn Bhd revealed that the RM23.7mil construction cost incurred by former Ageson Bhd unit Prinsiptek (M) Sdn Bhd (PMSB) for a construction project in Sentul here did not commensurate with the progress billing issued by the project’s quantity surveyor.

MMHE said its unit Malaysia Marine and Heavy Engineering Sdn Bhd has received an arbitration notice from Boskalis Malaysia Sdn Bhd over the delay in the load out exercise.

AirAsia has established a new entity within the group to provide consulting services on setting up a low-cost carrier (LCC), based on a news report.

Genting Malaysia is said to be proposing a US dollar-denominated bond issue, which will raise money to mainly refinance the casino and hotel operator’s debt as the group contends with the impact of the Covid-19 pandemic, according to Fitch Ratings.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

GIIB's glove manufacturing plant expected to enhance bottomline
Kasa’s business programmes at Expo 2020 Dubai generates RM16.33bil in potential trade, investment
FTX's billionaire chief says bitcoin has no future as a payments network- FT
China April aluminium output hits record high as power curbs lifted
China April property sales plunge 46.6%, fastest since at least 2010
China's economy cools sharply in April as lockdowns bite
Oil prices drop on profit-taking, supply fears linger
Asia stocks try to bounce, China data a risk
Dollar starts week on strong footing on firm safe-haven bid
Funds stage sizable soy, soymeal selloff ahead of USDA data

Others Also Read