AWC, Leweko, Axiata, PPB Group, MAHB, Asdion, Three-A Resources, Hibiscus and Melewar

KUALA LUMPUR (Sept 13): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Sept 14) could include: AWC, Leweko, Axiata, PPB Group, MAHB, Asdion, Three-A Resources, Hibiscus and Melewar.

AWC Bhd, an integrated facility management, and mechanical and engineering services provider, said its 51%-owned environment division has bagged three independent subcontracts collectively worth RM27.5 million.

The first contract, worth RM7.8 million, was awarded by Evergreen Sky Catering Corp from Taiwan.

The contract, which is expected to be completed by March 2018, is for the supply, installation, testing and commissioning of a waste handling system for a new inflight catering facility at Taoyuan International Airport, Taiwan.

The second subcontract is for the design and supply of Automated Vacuum Waste Collection System in India for a contract sum of about RM9.5 million. The job was awarded by Shapoorji Pallonji and Co Pte Ltd. This project is expected to be completed by October 2018.

The third contract is for the implementation of a solid waste handling system for the KL118 Tower Project, worth RM10.2 million.

The contract is awarded by Samsung C&T Corporation UEM Construction JV Sdn Bhd. It is set to start in March 2017 and is expected to be completed by October 2019.

Sawn and moulded timber products manufacturer Leweko Resources Bhd has bagged a subcontract from Iswarabena Sdn Bhd valued at RM14.5 million for the supply of building materials.

The contract is for the supply, delivery and launching of Ultra High Performance Concrete Post Tensioned Segmental U Beam for the building of Kuala Terengganu Bypass. The project will commence on Sept 15 and be completed by Sept 14, 2017.

Axiata Group Bhd is said to be paring stakes in the group's oversea operation to raise up to US$700 million (about RM2.9 billion) to cut borrowings, according to a Bloomberg report, quoting sources.

In response, Axiata said it continuously reviews various strategic options to enhance shareholders' value.

It added that it has, since the middle of last year, been "exploring options to further optimise its balance sheet and group structure, potentially including, but not limited to, the portfolio rebalancing and review of shareholding across subsidiaries."

PPB Group Bhd, which is controlled by billionaire Robert Kuok, told the local exchange that there is no decision made on the sale of its cinema operator company Golden Screen Cinemas Sdn Bhd (GSC), as reported by Bloomberg.

The group told Bursa Malaysia that it regularly evaluates various strategic options for all its businesses, including GSC, with a view to optimising shareholder value.

PPB Group advised its shareholders and potential investors that the evaluation of strategic options may or may not result in any transaction.

Bloomberg, citing sources, said PPB Group was seeking a buyer for GSC. With 345 digital screens in Malaysia and Vietnam, the company could fetch a value of US$500 million (about RM2.05 billion) at most.

Malaysia Airports Holdings Bhd (MAHB) posted a 2% overall growth in passenger movement at 10.5 million passengers in its Malaysian airports and Istanbul's Sabiha Gokcen International Airport (SGIA) in August 2016 from 10.28 million passengers last year.

The airport operator said the traffic growth was driven by its Malaysian operations, which saw a 5% increase in passengers, while SGIA continued to decline year-on-year after unforeseen events in Turkey.

According to its passenger snapshot for August, year-to-date traffic growth, including SGIA, was recorded as 4.2% at 77.38 million compared to 74.26 million a year ago.

Asdion Bhd chief operating officer (COO) Low Jyh Sing has resigned from the company, due to a continuous deteriorating health condition, a filing with the local bourse today showed.

Low, 42, had been with the company since March 1. Prior to joining Asdion, he was a director of a local logistics company with the principal activities of dealing in dry bulk and cargo handling in East Coast of Malaysia.

His resignation follows the retirement of Asdion's executive director, Jason Minos Peter, who retired and did not seek re-election at the conclusion of the company's fourteenth annual general meeting held last Friday (Sept 9).

Peter, 42, had been the executive director of Asdion since Sept 28 last year.

Three-A Resources Bhd is planning a bonus issuance of one bonus share for every four existing shares held (one-for-four), and an employee share option scheme of up to 10% of its paid up share capital.

These proposals will require shareholders' approval, which Three-A Resources will seek at an upcoming extraordinary general meeting.

If all goes well, Three-A Resources hopes to complete the bonus share issuance and employee share option scheme implementation by the first quarter of next year.

Hibiscus Petroleum Bhd, an independent oil and gas exploration and production company, has fixed the issue price for the first tranche of its private placement shares at 19.5 sen a share.

This represents a discount of about 1.12% from the five-day volume weighted average market price of Hibiscus shares up to Sept 9 of 19.72 sen.

The exchange had on Sept 6 approved Hibiscus' application to place up to 82.31 million, which is about 6.05% of its existing share base.

Steel pipe maker Melewar Industrial Group Bhd was slapped with an unusual market activity query by Bursa securities, on the rise in its share price and volume recently.

Melewar's share price surged 35% or 14 sen to 54 sen today, with 36.4 million shares exchanging hands.