Muhibbah Engineering (M) Bhd's joint venture with France's Vinci Group has awarded a US$23 million (RM88 million) contract to its construction unit to build a new domestic terminal at the Phnom Penh Airport in Cambodia, which will cater for the future growth of the domestic traffic.
The construction unit is owned 70% by Vinci Construction Grands Projets and 30% by Muhibbah.
Muhibbah said construction work on the new domestic terminal will commence immediately and is expected to be completed by the fourth quarter of 2017.
In a bid to diversify its business into engineering, construction and property development, Jaycorp Bhd has upped its stake in its associate Jaycorp Engineering & Construction Sdn Bhd (JECSB) to 60%.
In a filing with Bursa Malaysia, Jaycorp said it acquired 599,998 shares in JECSB for RM599,888. Following the acquistion, Jaycorp owns 600,000 shares in JECSB, while Lau Cheng Hiong owns 30%; while JECSB director Abdul Rahman Khan Bin Hakim Khan owns the remaining 10% stake in JECSB.
Jaycorp, which manufactures and sells rubberwood furniture as well as other wood-based products, said the subscription will be strategic and beneficial to Jaycorp in its expansion into engineering, construction and property development.
The move is a related party transaction, as Jaycorp executive chairman Tan Sri Abdul Majid Khan and Jaycorp alternate director Yeo Aik Tan are also directors of JECSB.
AirAsia X Bhd (AAX) has inked an instructor services agreement with Asian Aviation Centre of Excellence Sdn Bhd (AACE), which in turn appointed AAX as a service provider to AACE.
In a filing with Bursa Malaysia today, AAX said the agreement will see the long-haul low-cost carrier providing instruction services, through the airline's qualified pilots, personnel, and instructors for pilot ground and simulator training services to AACE’s customers.
AACE, which operates an aviation academy for the provision of pilot training, maintenance training, cabin crew training, training for management services and guest services, is jointly owned by CAE International Holdings Ltd and AirAsia Bhd.
The agreement will see AAX providing four types of instructor for aircraft models Airbus A330 and Airbus A320, including Type Rating Examiner (TRE), Type Rating Instructor (TRI), Flight Simulator Instructor (FSI) and Crew Resource Management Instructor (CRMI).
Penang-based poultry player PWF Consolidated Bhd is proposing a one-for-two share split exercise for its shares and a bonus issue of its warrants.
PWF said its proposed share split involves the subdivision of one existing RM1 ordinary share of PWF into 2 subdivided shares of 50 sen each, on an entitlement date to be announced later.
As at April 12, 2016, the issued and paid-up share capital of PWF is RM77.78 million, comprising 77.78 million PWF shares. Upon completion of the proposed share split, the issued and paid-up share capital of PWF will be up to RM78.9 million, comprising of 157.8 million subdivided shares.
Pursuant to the proposed share split, the market price of the PWF shares will be adjusted downwards correspondingly, resulting in the subdivided shares being more affordable, which should enable a wider spread of investors to participate in the growth of PWF. The proposed share split may enhance the liquidity and marketability of PWF shares.
Green Packet Bhd, whose share price rose as much as three sen or 11.77% to an intraday high of 28 sen earlier, has been slapped with an unusual market activity (UMA) query by Bursa Malaysia.
The counter closed 1.5 sen or 5.88% higher at 27 sen, with 87.89 million shares done, for a market capitalisation of RM186.42 million. In comparison, its 200-day average trading volume is about 2.25 million.
Steel producer Ann Joo Resources Bhd said it is unaware of the reasons for the recent sharp rise in the price of its shares, but that the rebound in steel prices may have boosted investor's confidence in the company.
It was responding to Bursa Malaysia's unusual market activity (UMA) query earlier.
In a filing with Bursa Malaysia today, Ann Joo said it is not aware of any corporate development relating to the company's business or any rumour that may account for the trading activity.
CCK Consolidated Holdings Bhd proposed to raise its authorised share capital to RM500 million comprising one billion shares, from RM100 million or 200 million shares of 50 sen each.
In order to reward shareholders, CCK Consolidated also proposed a bonus issue of 157.67 million shares to be credited as fully paid-up on the basis of one bonus share for every one existing share held in CCK Consolidated on an entitlement date to be determined later.
Pantech Group Holdings Bhd has subscribed to an additional 10.2 million shares in its 51%-owned joint venture (JV) company, Pantech Galvanising Sdn Bhd (PGSB), for a total of RM10.2 million.
In a filing with Bursa Malaysia today, Pantech Group said the consideration would be funded via bank borrowings.
It added that its interest in PGSB remained at 51%, while the balance is held by Euromech Machinery Sdn Bhd.
Edaran Bhd’s Edaran IT Services Sdn Bhd has bagged a system maintenance contract from the Royal Malaysian Customs Department, worth RM19.25 million.
In a filing with Bursa Malaysia today, Edaran said Custom Department has agreed to accept its proposal to undertake the maintenance works for the department's "system database" for a period of 18 months.
"The commencement date for the contract is March 1, 2016, and will expire on Aug 31, 2017.
YNH Property Bhd is proposing a bonus issue of up to 88.29 million new shares on a 1-for-5 basis, on an entitlement date to be announced later.
In its filing to Bursa Malaysia today, YNH said that the maximum number of 88.29 million bonus shares was derived after taking into account the share capital of the company as at April 1, 2016, which stood at RM441.45 million, comprising 441.45 million YNH shares.
It also assumed that the existing 35.39 million treasury shares held by the company as at April 1 were fully distributed to the shareholders, as share dividends.
The proposed bonus issue is to be effected by way of capitalising the company’s share premium account and retained earnings.
Zhulian Corp Bhd saw a 43.6% drop in its net profit for the first quarter ended Feb 29, 2016 (1QFY16) to RM7.08 million or 1.54 sen a share, from RM12.55 million or 2.73 sen a share a year ago.
In a filing with Bursa Malaysia today, the costume jewellery manufacturer and direct marketer said the drop was in line with the decrease in its revenue, as a result of lower demand in both local and Indonesian markets.
Aside from that, the group’s profitability was affected by separation employment benefit expenses incurred, amounting to RM3.5 million during the quarter.
The group is declaring a first interim single tier dividend of 1.5 sen per share, to be paid on June 3, 2016.
Information and communications technology (ICT) distributor ECS ICT Bhd has been appointed as the first ICT distributor to bring China's DJI aerial drones and cameras to the Malaysian market.
In a statement today, ECS ICT said its wholly-owned subsidiary ECS Astar Sdn Bhd will distribute DJI's Phantom range of drones, namely the Phantom 3 and Phantom 4, and the Osmo (a stabilised handheld 4K camera) across its distribution network of more than 30 touch points across Malaysia, including the information technology, lifestyle, consumer electronics chain stores and e-commerce channels.
DJI is the world leader in unmanned aerial vehicle technology and accounts for 70% market share globally, according to a report published by Oppenheimer in February 2016.
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