Trading ideas: TM, MAHB, Bursa Malaysia, UEM Sunrise, MUI, Nestcon, BM Greentech, Sunview, Berjaya, Plytec, BWYS, LBS, IOI, Matrix, Poh Kong

KUALA LUMPUR: Here is a summary of the announcements that are making headlines in Corporate Malaysia.

Telekom Malaysia Bhd is setting up a joint venture with Singtel's regional data centre platform Nxera MY Pte Ltd to develop a data centre in Johor, Malaysia with an initial investment cost of RM1.2bn.

The Aerotrain Replacement Project at Kuala Lumpur International Airport is slated to be completed by Jan 31, 2025, two months ahead of the project’s original planned completion date, said Malaysia Airports Holdings Bhd.

Bursa Malaysia Bhd has confirmed that discussions with Mulia Property Development Sdn Bhd about relocating to Tun Razak Exchange are ongoing, with details yet to be finalised.

UEM Sunrise Bhd's subsidiary UEM Land Bhd, plans to exit a joint venture company with KL Kepong Bhd, which has the rights to develop 2,500 acres of land in Kulai, Johor for RM386.2mn and will sell its 40.0% equity stake to KLK Land Sdn Bhd.

Malayan United Industries Bhd has secured a term loan facility of up to £152.5mn from CF Hyde Park LP to refinance its existing term loan facility of its Corus Hyde Park Hotel in London, UK.

Nestcon Bhd has bagged two high-rise building projects in the Klang Valley worth a total of RM165.6mn.

BM Greentech Bhd has signed a term sheet with the shareholders of solar firm Plus Xnergy Holding Sdn Bhd to acquire the company for RM110.0mn, to be paid with new shares in BMG.

Sunview Group Bhd has secured a RM79.5mn engineering, procurement, construction and commissioning contract from Bulgaria-based OKOP Solar EOOD.

Berjaya Corporation Bhd has inked two memoranda of strategic collaboration in the fields of smart technologies and new energy vehicles respectively in an effort to expand across these vital sectors in Malaysia and the broader Asean region.

Plytec Holding Bhd has secured a RM26.3mn contract from Setiakon Builders Sdn Bhd.

BWYS Group Bhd has set its initial public offering price at 22.0sen/share.

LBS Bina Group Bhd said trading in its shares will be suspended on today at the company’s request, pending a material announcement. The suspension will take effect from 9am to 5pm.

IOI Corporation Bhd has appointed Tan Kean Hua as its new deputy chief executive officer effective July 1.

Matrix Concepts Holdings Bhd announced that Datuk Hon Choon Kim has resigned as its independent and non-executive director, effective immediately.

Poh Kong Holdings Bhd's net profit jumped 51.6% YoY to RM47.6mn in 3QFY24, from RM31.4mn a year ago, driven by higher revenue and an overall uptrend in gold prices.

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