KUALA LUMPUR (Sept 5): Based on corporate announcements and news flow today, stocks in focus tomorrow (Sept 6) may include: FGV, Guan Chong, LBS Bina, 7-Eleven, UEM Edgenta, Three-A, Kim Hin, TRC Synergy and MAHB.
Felda Global Ventures Holdings Bhd (FGV) said the domestic enquiry on discrepancies involving its suspended president and CEO Datuk Zakaria Arshad will be concluded by “early next week”.
Meanwhile, Zakaria and the company’s suspended CFO Ahmad Tifli Mohd Talha will remain on leave of absence. Datuk Khairil Anuar Aziz will continue to serve as FGV’s officer-in-charge, and Aznur Kama Azmir will continue as FGV’s interim group CFO until further notice.
Guan Chong Bhd has announced a first interim dividend of 1.5 sen per share in respect of the financial year ending Dec 31, 2017 (FY17).
The cocoa-derived food ingredient manufacturer said the dividend is payable on Oct 13, with the ex-date fixed on Sept 15.
LBS Bina Group Bhd will be buying Gerbang Mekar Sdn Bhd, the mall owner and operator of M3 Mall in Gombak, for which it will be paying RM105 million in cash and kind, to enter the retail business.
Gerbang Mekar has a paid-up capital of RM2 million, and its mall has a market value of RM107 million. The acquisition, said LBS Bina, provides a low-entry point into the segment and “an opportunity to reformat and reposition a well-built mall in a strategic location”.
The Sultan of Johor, Sultan Ibrahim ibni Almarhum Sultan Iskandar has bought an additional 2.45 million shares in 7-Eleven Malaysia Holdings Bhd between Aug 28 and Aug 30.
He first emerged as second largest individual shareholder in 7-Eleven last month. The recent purchase has brought his stake in the convenience store chain to 9.22%.
Prestariang Bhd said it is investing up to A$5 million (RM16.97 million) cash to subscribe in new series “A” shares in Singapore-based online learning platform developer and services provider OpenLearning Global Pte Ltd (OGPL).
With the subscription, Prestariang plans to tap into OGPL’s existing customers of 66 educational institutions.
UEM Edgenta Bhd will seek shareholders’ approval to dispose of its 61.2% stake in its New Zealand-listed subsidiary Opus International Consultants Ltd to WSP Global Inc.
At NZ$1.78 per share, WSP is expected to pay UEM Edgenta NZ$161.1 million cash for the purchase — excluding fully imputed cash dividend of up to NZ$0.07 per Opus share as part of the deal.
Three-A Resources Bhd has proposed to sell its 50% stake in Three-A (Qinhuangdao) Food Industries Co Ltd (TAQ) to its 15.65% shareholder Wilmar International Ltd for RMB5 million (RM3.26 million).
The related party transaction — to be completed in 1H18 — will however result in a divestment loss of RM706,117 for Three-A.
Kim Hin Industry Bhd has proposed to sell its two-level office building of approximately 3,611 sq m in Australia to Australia-based Ouson Pty Ltd for A$8.8 million (RM29.91 million) cash.
It intends to utilize the sale proceeds for the purchase of an uncompleted property (Melbourne Square) at A$2.88 million and for the group’s working capital.
TRC Synergy Bhd's wholly-owned Trans Resources Corp Sdn Bhd has bagged a RM760.6 million construction contract related to the Light Rail Transit Line 3 (LRT3) project from Prasarana Malaysia Bhd.
Trans Resources accepted the award for the contract known as "Package TD2-construction and completion of Johan Setia Depot (Phase 2) and associated works for LRT Line 3 from Bandar Utama to Johan Setia" on Aug 29.
Malaysia Airport Holdings Bhd’s (MAHB) subsidiary Malaysia Airports (Niaga) Sdn Bhd (Eraman) is partnering Alipay to provide the digital payment method in all Eraman stores nationwide.
The service, said MAHB, will allow Eraman’s retail outlets in KLIA, klia2, as well as Kota Kinabalu, Kuching, Penang, Langkawi International Airport and Labuan Airport to tap into some 4.5 million Chinese tourists visiting Malaysia annually.