KUALA LUMPUR: Stocks to watch today include AirAsia Group Bhd, Eco World Development Group Bhd
(EcoWorld), TMK Chemical Bhd, Zetrix AI Bhd, Jati Tinggi Group Bhd, Vestland Bhd, Capital A Bhd, TSR Capital Bhd, ES Sunlogy Bhd and TSR Capital Bhd.
AirAsia has denied seeking a government rescue, saying it has more than RM1bil in liquidity and is pursuing commercial debt refinancing to reduce financing costs.
The carrier is seeking about US$1bil in international funding and RM700mil from local banks as it manages higher fuel costs, while restoring routes amid continued strong travel demand.
EcoWorld has won the tender for a S$208.1mil (RM667.6mil) 99-year leasehold residential site in Singapore, where it plans to launch its first development in 2028 under its new VERSIONE series.
TMK Chemical is acquiring Chemical Company of Malaysia Bhd (CCM) for RM939.9mil to create a larger, more integrated chemicals group with greater scale, reach and operational efficiencies.
Zetrix AI has delayed payment of its 2.89-sen final dividend to Sept 23 after a court injunction affected cash dividend payments to certain central depository system (CDS) accounts claimed by a substantial shareholder.
Separately, MARC Ratings has placed Zetrix AI’s AA-IS rating on MARCWatch Developing due to concerns over the reduced shareholding of founder Wong Thean Soon and the group’s rising borrowings.
The rating agency said Wong’s stake has fallen to 12.1% from 30%, reducing his buffer to comply with a covenant requiring him to remain Zetrix AI’s single largest shareholder.
Jati Tinggi has secured a RM72.84mil contract to build power infrastructure for a data centre at Banting Technology Park, with works scheduled for completion by January 2027.
Vestland’s subsidiary has secured a RM107.6mil contract for slope mitigation works at a reservoir catchment area in Terengganu, with completion targeted for May 202
Capital A has proposed a court-supervised restructuring of Move Digital to exit loss-making BigPay, distribute its Tune Protect stake and resolve legacy liabilities as it redirects capital towards its core businesses.
TSR Capital has secured a RM158mil construction contract from Perbadanan Kemajuan Negeri Selangor, which is expected to contribute positively to the group’s earnings through 2029.
ES Sunlogy’s unit has secured a RM15.63mil subcontract to undertake electrical and related works for a serviced apartment development in Pasir Gudang, Johor.
