Trading ideas: AMMB, SD Guthrie, KJTS, Mulpha, AZRB, Bina Puri, Maxland, Cahya Mata, KGW, Steel Hawk, HCK, LYC, Salutica, Prolintas, MMAG, F&N, SunREIT


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

AMMB Holdings Bhd has terminated its plans to sell all its interest in AmMetLife Insurance Bhd and AmMetLife Takaful Bhd to Great Eastern Life Assurance (Malaysia) Bhd and Great Eastern Takaful Bhd.

SD Guthrie Bhd has acquired a 48.0% equity interest in Netherlands-based Marvesa Supply Chain Services BV for €54.0mn (RM250.0mn) from Dutch private equity firm, Parcom.

KJTS Group Bhd has proposed to acquire Malakoff Utilities Sdn Bhd, a wholly-owned subsidiary of Malakoff Corporation Bhd for RM65.5mn cash.

Mulpha International Bhd has entered into a contract for the disposal of a shopping centre, Capri on Via Roma, and associated marina located in Queensland, Australia for AUS85.5mn (RM233.4mn).

Ahmad Zaki Resources Bhd has been awarded a contract worth RM63.5mn by the Public Works Department for the construction of a bridge in Kampung Binjai, Kuala Lipis, Pahang.

Wisma Majujaya Sdn Bhd has obtained a summary judgement from the High Court over its RM28.1mn suit filed against Bina Puri Holdings Bhd, its subsidiary Bina Puri Properties Sdn Bhd, and its director Tan Sri Tee Hock Seng.

Maxland Bhd has entered into a 60-year land lease agreement with Kulim Technology Park Corp Sdn Bhd for a 4.9-acre parcel located in Industrial Zone Phase 2 of the Kulim High-Tech Park for RM10.6mn.

Cahya Mata Sarawak Bhd has initiated arbitration proceedings against Vienna Advantage GmbH over a contract dispute.

KGW Group Bhd said US-based logistics firm Accelerated Global Solutions Inc has acquired a 15.0% stake in the company.

Steel Hawk Bhd has secured a contract extension for the provision of onshore facilities maintenance, construction and modification services from Petronas Carigali Sdn Bhd.

HCK Capital Group Bhd’s non-independent non-executive director Datuk Diong Tak Chong @ Tiong Tak Chong has emerged as a substantial shareholder of the property developer with a 5.3% stake.

LYC Healthcare Bhd said Messrs Baker Tilly Monteiro Heng PLT has resigned as the group's external auditors after both sides were unable to agree on the audit fees.

Salutica Bhd has filed an appeal against the High Court’s decision to dismiss its patent infringement suit against Apple Malaysia Sdn Bhd.

Prolintas Infra Business Trust said Datuk Mohammad Azlan Abdullah has relinquished his role as non-independent and non-executive director from its trustee-manager, Prolintas Managers Sdn Bhd.

Ahmad Luqman Mohd Azmi, the former CEO of Malaysia Aviation Group’s airlines business, has been appointed as an executive director of logistics services provider MMAG Holdings Bhd effective immediately.

Fraser & Neave Holdings Bhd’s net profit in 1QFY25 fell marginally to RM169.0mn from RM170.7mn a year ago, dragged by higher tax expense.

Sunway Real Estate Investment Trust’s net property income has increased by 22.0% to RM165.6mn for 4QFY24, from RM135.7mn a year earlier, driven by nine newly acquired properties during the year under review.

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