KUALA LUMPUR (June 3): Based on corporate announcements and news flow today, companies that may be in focus on Monday (June 6) could include the following: S P Setia, E&O, Mega First, Jadi Imaging, Scomi Engineering, CIMB, Rex Industry, Hwa Tai, Tune Protect, Hap Seng Consolidated, Alam Maritim, CAB Cakaran and Farm's Best.
S P Setia Bhd has proposed a rights issue of up to 1.07 billion new Islamic redeemable convertible preference shares (RCPS-i) at an issue price of RM1 each, on the basis of two RCPS-i for every five existing shares, to raise up to RM1.07 billion.
The rights issue is renounceable in full or in part, said S P Setia.
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It added that the RCPS-i will carry the right to receive preferential dividends at the expected rate of 6.49% per annum.
The RCPS-i will be convertible at the option of its holders. The conversion ratio is two new S P Setia shares for every seven RCPS-i.
Eastern & Oriental Bhd's (E&O) group managing director Datuk Seri Terry Tham Ka Hon has become the single largest shareholder in the lifestyle property developer, with the acquisition of additional 10% stake from Sime Darby Bhd for RM327.54 million.
In a filing with Bursa Malaysia today, E&O said Tham, via his private investment vehicle Paramount Spring Sdn Bhd, has acquired an additional 125.98 million shares in E&O at RM2.60 per share or RM327.54 million from Sime Darby. This reduces the latter's stake to 12% from 22%.
Tham also now holds a 21% stake in E&O from 11% previously.
Mega First Corp Bhd's executive chairman Goh Nan Kioh has ceased to be a substantial shareholder in Jadi Imaging Holdings Bhd.
A filing with Bursa Malaysia today showed that Goh and a few other related parties had disposed of 39 million shares, or a 4.1% stake, in Jadi Imaging held through Mega First between Feb 26 and April 26.
After the disposal, Goh holds some 41 million shares, or a 4.3% stake, in Jadi Imaging via Mega First.
Scomi Engineering Bhd plans to acquire a 42.25% stake in Brazil-based Quota Capital of Quark Fabricacao De Equipamentos Ferroviarios E Servicos De Engenharia Ltda (Quark) that supplies rolling stock and related services to the Sao Paulo Metropolitan Network.
In a filing to the bourse today, Scomi said the total consideration of the proposed acquisition consists of an undertaking by Scomi and Brasell Gestao Empresarial LTDA (BGEL) in their capacities as remaining quotaholders of Quark, in which the latter would pay MPE Montagens e Projetos Especiais SA BRL20 million (RM23.2 million).
Quark is a joint-venture company set up by Scomi, MPE and BGEL that was sub-contracted by the Concessionaria Do Monotrilho Da Linha 18-Bronze SA.
CIMB Group Holdings Bhd and Sompo Japan Nipponkoa Holdings Inc today entered into a strategic non-life bancassurance partnership for Southeast Asia.
In a statement, CIMB said following the execution of in-country agreements, CIMB will distribute Sompo's non-life insurance products through its extensive distribution network consisting of the group's branches, call centres and online channels in selected countries within the region.
Canned food and beverage maker Rex Industry Bhd has surfaced as a substantial shareholder in Hwa Tai Industries Bhd, with a 5.61% stake.
Hwa Tai, in a filing to Bursa Malaysia, said Penang-based Rex acquired 4.2 million shares in the company on the open market today.
The transaction price and identity of the seller were not disclosed.
Tune Protect Group Bhd is confident of maintaining double-digit revenue and profit growth for the current financial year ending Dec 31, 2016, outpacing the estimated insurance industry growth of 2% to 4%.
The group's outgoing chief executive officer, Junior Cho, said after the group's annual general meeting today his confidence is based on the fact that air passenger traffic in Asean countries is growing at a rate of 10% to 12%.
Hap Seng Consolidated Bhd, which will be included as a component stock of the FBM KLCI from June 20 onwards, will increase its share capital to RM2.45 billion with effect from June 6.
In a filing with Bursa Malaysia today, Hap Seng said its warrants have been converted to 111.58 million shares at an issue price of RM1.65 each, increasing its share capital to 2.45 billion shares with a par value of RM1 each.
Alam Maritim Resources Bhd is bidding for RM2.6 billion worth of jobs as the company grapples with low charter rates and vessel utilisation rates amid a dearth of demand for oil and gas (O&G) service vessels.
Its managing director Datuk Azmi Ahmad said today the contracts consist of local and overseas jobs, ranging from offshore support vessels, subsea services and offshore installation and construction.
He also indicated that the group is looking for new opportunities in Thailand, Vietnam, Myanmar and Indonesia.
Integrated poultry producer CAB Cakaran Corp Bhd is acquiring a controlling stake in the poultry processing arm of Farm's Best Bhd for RM5.2 million cash.
In a filing with Bursa Malaysia today, CAB said it, together with its 51%-owned subsidiary Tong Huat Poultry Processing Factory Pte Ltd (THPPF), Plant Wealth Holdings Ltd and Brighton Property Pte Ltd, has signed a conditional share sale agreement with Farm's Best for the proposed acquisition of Farm's Best Food Industries Sdn Bhd (FBF) for RM9.45 million cash.
Upon completion of the proposed acquisition, CAB, THPPF, Plant Wealth and Brighton Property will own 51%, 4%, 40% and 5% equity interest in FBF respectively.
http://www2.theedgemarkets.com/my/article/s-p-setia-eo-mega-first-jadi-imaging-scomi-engineering-cimb-rex-industry-hwa-tai-tune
