Trading ideas: Axiata, Crescendo, MN Holdings and Sapura Energy

KUALA LUMPUR: Several companies made headlines yesterday following the announcement of corporate developments including Axiata, Crescendo, MN Holdings and Sapura Energy, said Apex Securities Research.

Axiata Group Bhd has announced a proposal to divest of its stake in EDOTCO Myanmar Limited for US$150mil cash (RM713.03mil), as it makes its exit from the Myanmar market

Johor-based property developer Crescendo Corp Bhd said its wholly-owned subsidiary, Panoramic Industrial Development Sdn Bhd (PID) has entered into a conditional sale and purchase agreement with Microsoft Payments (Malaysia) Sdn Bhd for the sale of a vacant parcenl of freehold land measuring 1.1 million sq ft in Pulai, Johor, for RM132.47 million, or RM120 per sq ft.

MN Holdings Bhd (MNHB) has secured a contract valued at RM25.96 million for engineering, procurement, construction and commissioning work for a large-scale solar photovoltaic plant in Kulim, Kedah.

Sapura Energy Bhd has secured a contract to provide pan-Malaysia underwater services for the Petronas group of companies and petroleum arrangement contractors.