Lien Hoe, MLabs, Ajiya, AmProp, Public Bank and Affin Holdings

KUALA LUMPUR (July 14): Based on corporate announcements and newsflow today, stocks in focus on Monday (July 17) may include Lien Hoe, MLabs, Ajiya, AmProp, Public Bank and Affin Holdings.

Lien Hoe Corp Bhd is selling an estimated 15ha (36.4 acres) of land in Johor Bahru for RM100.54 million to generate cash, which will finance the company's capital requirements.

Lien Hoe said it is selling the freehold land along Jalan Persiaran Seri Alam to Plato Assets (M) Sdn Bhd.

It said the sale proceeds will provide the needed capital funding for business expansion and new investment, as and when such opportunity arises.

Mlabs System Bhd, whose share price had more than tripled in the last 10 days from 12 sen on July 3 to close at 37 sen yesterday, has been slapped with an unusual market activity (UMA) query from Bursa Malaysia.

The regulator drew attention to the “sharp rise in price” of the video conferencing systems company’s shares recently.

The stock was trading more than five times higher than its yearly low of seven sen on Sept 12, 2016, and was the second most actively-traded stock on Bursa in morning trade today.

Ajiya Bhd has entered into a Memorandum of Understanding (MOU) with Syarikat Perumahan Negara Bhd (SPNB) to implement Ajiya’s Green Integrated Building Solutions (AGIBS) in the development of housing projects under the SPNB Group.

Ajiya said it would supply its AGIBS at an agreed cost which will be determined later and/or be appointed as design & build contractor for the housing projects/program under SPNB Group.

It added that at the request of SPNB, Ajiya will provide training to any of the appointed contractors or sub-contractors, any related stakeholders, any employee of SPNB and its group, in respect of the AGIBS implementation.

Amcorp Properties Bhd (AmProp) and its joint venture (JV) partner Grosvenor Europe Investments Ltd have acquired two new properties in the Chamberi district of Madrid, Spain.

According to AmProp, the JV will transform the buildings — located on Modesto Lafuente and Santa Engracia — into high-end residential and commercial spaces.

The property at Modesto Lafuente is a 10-storey office building which will be converted into 13 exclusive apartments, with an underground parking facility.

Public Bank Bhd said it will redeem its RM3 billion bonds due in 2022 on Aug 3, 2017. The bonds have a coupon rate of 4.28% a year.

"PBB (Public Bank) wishes to announce that notice of early redemption has been given to the noteholders that PBB will fully redeem the RM3 billion 4.28% subordinated notes, together with accrued interest on 3 August 2017,” it said.

It said it had issued the bonds on Aug 3, 2011.

Affin Holdings Bhd has received approval from the Finance Ministry and Bank Negara Malaysia to proceed with its proposed reorganisation.

The reorganisation entails the transfer of Affin Holdings’ entire shareholding in various units to Affin Bank Bhd.

The units include Affin Hwang Investment Bank Bhd, Affin Moneybrokers Sdn Bhd, Axa Affin Life Insurance Bhd and Axa Affin General Insurance Bhd.