Trading ideas: QL Resources, GenM, Solarvest, Econpile, PPT Synergy, Widad, LFE, MUI, Haily, Annum, Eurospan, Scomi Energy

KUALA LUMPUR: Here are the announcements that made headlines in Corporate Malaysia.

QL Resources Bhd has proposed to undertake a bonus issue of up to 1.2bn shares on the basis of 1 bonus share for every 2 existing shares held, to reward shareholders.

Genting Malaysia Bhd's subsidiary GENM Capital Bhd has made an early redemption of RM1.3bn in nominal value from its RM2.4bn medium term notes.

Solarvest Holdings Bhd has appointed Daniel Ruppert as chief investment officer effective 1 July 2024.

Econpile Holdings Bhd received a Letter of Award for jobs worth RM26.5mn from SNA Consult Sdn. Bhd. for and on behalf of Modern Plus Sdn. Bhd. to undertake civil works for a 40-storey condominium project in Mont Kiara.

PTT Synergy Group Bhd is disposing of 2 units of 3-storey detached factories in Sepang, Selangor, to MCM Land Sdn Bhd for RM26.0mn.

The Human Resource Development Fund has acquired Widad Group Bhd shares, which tanked from 62.0sen to 6.0sen, under a put and call option arrangement, according to the briefing notes on the findings by the National Audit Department on 9 July 2024.

LFE Corporation Bhd has bagged a contract worth RM14.7mn as a sub-contractor for air conditioning, mechanical ventilation, and building management system services.

Loss-making MUI Properties Bhd, in which Malayan United Industries Bhd owns a 23.5% stake, is selling 53 acres of freehold land in Port Dickson, Negeri Sembilan, for RM80.8mn cash.

Haily Group Bhd plans to reward its shareholders with a bonus issue of 1 new share for every share held.

Annum Bhd has secured a RM53.2mn sub-contract from Kacon Construction Sdn Bhd.

Eurospan Holdings Bhd has declared a special dividend of 20.0sen/share for FY25 ending 31 May 2025.

Scomi Energy Services Bhd has decided not to proceed with the regularisation plan it announced in January.

Sorento Capital Bhd has secured approval from Bursa Malaysia for an IPO on the ACE Market.

Vanzo Holdings Bhd, an air fragrance maker, filed for an IPO on ACE Market to raise funds.

Wawasan Dengkil Holdings Bhd, a construction services company, filed for an IPO on the ACE Market to raise funds.

Azam Jaya Bhd, a Sabah-based construction company, filed for an IPO on the Main Market of Bursa Malaysia to raise funds.

Aeon Credit Service (M) Bhd net profit for its 1QFY25 rose marginally by 7.1% YoY to RM106.4mn supported by stronger loan and financing growth.

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