AAX is proposing to pay just 0.5% of debt owed to each of its creditors and to terminate all existing contracts so that it can restructure RM33.65bil (US$8.1bil) of liabilities based on a news report.
JF Apex Research also noted that Gamuda’s wholly-owned sub-subsidiary in Vietnam, Gamuda Land HCMC Joint Stock Company, has acquired 5.6 hectares of land in Binh Duong New City, Vietnam for US$53.88mil.
ACO Group is teaming up with electric vehicle (EV) charging specialist EV Connection Sdn Bhd to install a direct current fast-charging station at ACO Group’s new headquarters in Johor Baru, as part of its initiatives to tap into the green technology sector.
Inari Amertron inked an MoU with China Fortune-Tech Capital Co Ltd to set up a joint venture firm in China to carry out outsourced semiconductor assembly and test (OSAT) manufacturing and related businesses for the Chinese market.
MyEG plans to raise up to RM309mil via a private placement.
Straits Energy Resources plans to acquire a vessel for US$3.5mil (RM14.55mil) to expand the business of its 67%-owned Straits Marine Fuels and Energy Sdn Bhd, especially in the supply of low sulphur fuel oil.
Southern Cable has secured a RM18.5mil contract from Tenaga Nasional Bhd for the supply of underground cables and conductors.
Haily has bagged a contract worth RM24.5mil from Meridin East Sdn Bhd for the construction and completion of a terraced residential project in Plentong, Johor Bahru.
Comintel Corp has accepted a revised letter of award from Binastra Construction (M) Sdn Bhd worth RM96.64mil.