Trading ideas: MISC, Maxis, Westports, Yinson, Scientex, Sime Darby Property, Gas Malaysia, Hextar Capital, PIE Industrial

KUALA LUMPUR: Here is a recap of the corporate announcements making headlines.

MISC Bhd, via its petroleum arm AET, has entered into time charter party contracts with PETCO Trading Labuan Company Ltd for the world’s first two ammonia dual-fuel Aframaxes, as it seeks to reduce overall emissions from its operations.

Maxis Bhd has reiterated its readiness to build the second 5G network and expressed full support for competition following the government's decision for a dual-model approach to 5G network deployment.

Westports Holdings Bhd said its new sukuk wakalah programme of up to RM5bn will provide the group with the flexibility to raise medium to long-term funding to meet business funding requirements and general corporate purposes.

Yinson Holdings Bhd said its indirect wholly-owned subsidiary Yinson Production Offshore Pte Ltd has successfully placed a US$500mn five-year senior secured bond issue.

Scientex Bhd aims to provide a total of 50,000 units of quality housing units at affordable prices nationwide by 2028.

Sime Darby Property Bhd has secured commitment for the remaining 30% of its industrial development fund to close at RM1bn.

Gas Malaysia Bhd's wholly-owned subsidiary, Gas Malaysia Distribution Sdn Bhd will adjust its rate by RM0.045 per gigajoules per day through a rebate to its base average tariff for Jan 1-Dec 31, 2024.

Hextar Capital Bhd’s wholly-owned subsidiary, T&J Engineering Sdn Bhd was awarded a contract worth RM97mn by Landasan Kapital (M) Sdn Bhd to serve as the sub-contractor for building student hostels at Universiti Malaysia Kelantan in Bachok, Kelantan.

PIE Industrial Bhd confirmed that it has secured a new customer and said it is expecting the new customer to contribute an additional RM2.5bn in revenue to the group, of which RM1bn will be recognised as early as next year.

EG Industries Bhd has secured a second letter of intent from US-based Cambridge Industries Group to produce a new 1.6 terabit optical signal transmitter and receiver for a 5G wireless network at EG Industries’ new smart factory 4.0 in Penang.

Construction company Lim Seong Hai Capital Bhd has obtained approval from its shareholders to transfer the group’s listing from the LEAP Market to the ACE Market.

Uzma Bhd is looking to raise up to RM68.4mn via a proposed private placement to part-finance the development expenditure for the provision of a water injection facility in an oil field, and repay bank borrowings.

Fajarbaru Builder Group Bhd has secured an RM13.3mn contract from Malaysia Airports (Sepang) Sdn Bhd to improve and upgrade a fire engineering system at KLIA Terminal 1 of the KL International Airport.

MCE Holdings Bhd has commenced the construction for its MCE Auto Hub, the company’s new manufacturing facility in Serendah, Selangor, with an initial investment of RM50mn for the first phase of the development.

Iconic Worldwide Bhd’s rights issue exercise and free warrants undertaken by the group have been oversubscribed.

Nova MSC Bhd said it has signed term sheets for investments totalling about RM41.4mn into two of its subsidiaries by Singapore-based family office Jostar Investment VCC.

Fitters Diversified Bhd’s wholly-owned subsidiary Fitters Engineering Services Sdn Bhd has secured a RM26.1mn subcontract from IJM Construction Sdn Bhd.

YX Precious Metals Bhd, a 70%-owned subsidiary of Tomei Consolidated Bhd, has proposed to transfer its listing from the ACE Market to the Main Market as it has met the profit requirements for the transfer.

MKH Oil Palm (East Kalimantan) Bhd’s initial public offering has been oversubscribed by 8.4 times ahead of its listing on the Main Market of Bursa Malaysia Securities Bhd.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

FBM KLCI falls on profit-taking, in line with regional selling
Malaysia's inflation remains at 1.8% in April
Bursa Malaysia introduces API Gateway to enhance investor onboarding
Malaysia well-placed to meet increasing demands in semiconductor market - Siemens
YTL Power's AI-DC prospects remain intact
Ringgit eases as fading hopes of Fed rate cut lend support to US dollar
Bursa Malaysia succumbs to profit-taking pressure
Trading ideas: YTL Power, YTL Corp, Sime Darby Property, Malakoff, Axis REIT, KLCCP, Inari, Allianz, DRB-Hicom, BAT, Velesto, MSM
DRB-Hicom maintains positive outlook for FY24
Cahya Mata remains cautiously optimistic

Others Also Read