Trading ideas: MAHB, RCE, Crescendo, Eversendai, Grance Central, Protasco, YX, Managepay

KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.

Malaysia Airports Holdings Bhd (MAHB) has signed a memorandum of understanding with Menteri Besar Selangor Incorporated to advance the development and marketing of Zone 3 and Zone 4 at Sultan Abdul Aziz Shah Airport in Subang.

Passenger traffic across MAHB’s airport network grew 15.8% in the 1H24 compared to 2023.

RCE Capital Bhd proposed a one-for-one bonus issue involving the issuance of 764.9mn new bonus shares.

Crescendo Corp Bhd has proposed the subdivision of every one of its shares into three shares to improve the trading liquidity of the property developer's shares.

Eversendai Corp Bhd has teamed up with a unit of Abu Dhabi-based Emirates Steel Arkan Group, for the development of the Trojena Ski Village project in Saudi Arabia.

Grand Central Enterprises Bhd, which operates hotels under the Grand Continental brand, has received a takeover offer worth RM90.6mn from its major shareholders as part of a delisting plan.

Protasco Bhd will dispose of its 100% stake in Ikram Education Sdn Bhd, which owns the Infrastructure University Kuala Lumpur, to Hong Kong-based Star Teenagers International Group Ltd for RM30.0mn.

YX Precious Metals Bhd has secured approval from the Securities Commission Malaysia for its transfer to the Main Market of Bursa Securities.

Managepay Systems Bhd’s wholly owned subsidiary, ManagePay Services Sdn Bhd has received approval from Bank Negara for Class A Licence to operate money services, including money exchange and issuing multi-currency prepaid cards and wallets.