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SUNWAY Bhd said its wholly-owned subsidiary, Sunway Construction Sdn Bhd, has signed a letter of acceptance issued by SJIC Bina Sdn Bhd, a wholly owned subsidiary of Iskandar Investment Bhd in relation to the proposed design, construction, testing and completion of the Coastal Highway Southern Link, Johor for RM169.3mil.
Puncak Niaga Holdings Bhd has formalised a sale and purchase agreement (SPA) for the divestment of its two water concessions for the cash offer of RM1.6bil by the Selangor government. “The group has set aside RM534mil from the total proceeds to be distributed to shareholders as special dividends,” CIMB Research said.
Ta Ann Holdings Bhd’s log production for first eight months of 2014 surged 28.1% year-on-year (y-o-y) to 338,061 cu m, according to Affin Hwang Capital. It said the improvement was partly attributed to better weather conditions, which have helped to increase the log supply.
KUALA LUMPUR: Affin Hwang Capital Research has downgraded the brewery sector to Underweight from Neutral, with a Reduce call on both Guinness and Carlsberg, saying the ongoing subsidy rationalisation measures by the Government are continuing to dampen consumer sentiment.
COASTAL Contracts Bhd announced that it had secured contracts for the sale of seven offshore support vessels (OSVs) for an aggregate value of RM444mil. This takes its order book to a record RM2.6bil. Of this, the OSVs amount to RM1.4bil while the remainder RM1.2bil is for a gas compression unit to be chartered to Mexico’s Pemex starting mid-2015 for eight years.
PETALING JAYA: The reversal of an earlier cigarette price hike by tobacco companies British American Tobacco (M) Bhd (BAT) and JT International Bhd (JTI) surprised the market, but did not do much to reverse the bearish view analysts have on BAT.