KUALA LUMPUR (March 1): Based on corporate announcements and news flow today, stocks in focus tomorrow (March 2) may include: AirAsia, JAKS, Star, SMRT, Minda Global, TNB, GDex, Daya Materials, Handal, Uzma, Green Ocean, YTL Corp and Pasukhas.
AirAsia Bhd is divesting its aircraft leasing business to BBAM Ltd Partnership for US$1.185 billion (RM4.62 billion), on the back of an enterprise value of US$2.85 bilion (RM11.1 billion).
AirAsia is expected to recognise a gain on sale of approximately RM967.1 million from the deals, with part of the proceeds to be distributed as special dividends.
It intends to focus on its airline operations after the deal. It also said it wants to carry 81 million passengers in 2018, 25% more from last year.
JAKS Resources Bhd said it has received a notice of demand from Star Media Group Bhd, requiring it to complete and deliver Tower A of the Pacific Star project by end-June 2018.
It also wants JAKS to complete all other obligations relating to the sale and purchase agreement signed by JAKS's unit in August 2011 to acquire a leasehold land in Petaling Jaya from Star for RM135 million.
SMRT Holdings Bhd and Creador II LLC have mutually terminated their collaboration agreement in relation to the proposed conditional takeover of Asiamet Education Group Bhd, whose holding company is Minda Global Bhd, without giving any reason.
In January 2015, SMRT and Creador proposed to acquire a 30.75% stake in Asiamet (then known as Masterskill Education Group Bhd) and subsequently launched a takeover for the remaining shares in Asiamet, with the intention of turning it around in one year. Asiamet has been loss-making in the past two years.
Tenaga Nasional Bhd (TNB) has acquired an 80% stake in two United Kingdom-based renewable energy (RE) companies, GVO Wind Ltd and Bluemerang Capital Ltd, for £77.37 million (RM418.13 million), in line with its RE expansion strategy to be among the top global utility players by 2025.
The acquired companies, said TNB, comprise 53 operational onshore medium wind turbines with a total combined capacity of 26.1MW — set to increase TNB's total RE portfolio capacity to about 280MW.
GD Express Carrier Bhd (GDex) has proposed to acquire two companies that make up MBE Malaysia, the master franchise holder of MBE Worldwide SPA in the country, for RM5.5 million cash.
GDex will use internally-generated funds to acquire the retail delivery firm, which has 92 operating outlets in the country, of which 91 are franchisees.
Daya Materials Bhd, which fell into PN17 status this week, has secured a contract worth RM104.07 million from Penang Specialist Hospital Sdn Bhd, a member of KPJ Healthcare Bhd, to expand its existing hospital block in Seberang Perai.
The contract, which covers 33 months ending Dec 7, 2020, comprises construction of a new annex 10-storey hospital block, an open carpark, and an electricity substation.
Oil firm Handal Resources Bhd has secured an umbrella contract from Petronas Carigali Sdn Bhd for the provision of 225K and 460K drilling of hydraulic workover unit (HWU).
The three-year contract — with a one-year extension option — will be addressed in a work order in accordance with the detailed scope of works as provided under the contract and/or work order request, said Handal in a filing today.
Also receiving yet another umbrella contract for a period of 3+1 years from Petronas Carigali was Uzma Bhd, this time for the provision of 150K, 225K and 460K drilling of hydraulic workover unit.
Similarly, Uzma said the contract is conditional upon its wholly-owned unit Uzma Engineering Sdn Bhd (UESB) obtaining and maintaining a valid licence with Petronas, and depending on work orders to be issued to UESB from time to time at the discretion of Petronas Carigali.
Green Ocean Corp Bhd has entered into a RM70 million deal to supply crude palm kernel oil-mass balance to Palm Oleo (Klang) Sdn Bhd.
The agreement, inked by Green Ocean's wholly-owned unit Ace Edible Oil Industries Sdn Bhd, is valid till Dec 31, 2018. Green Ocean said it expects the deal to contribute positively to its top and bottom line.
A British paper reported that YTL Corp Bhd has revealed a plan to transform Filton airfield in Bristol, acquired in 2015, into a 12,000-seat arena which could rival London's O2 and Birmingham's NEC stadiums.
The Bristol Post said YTL Corp will develop the Brabazon hangar into a sports venue, exhibition space or conference centre regardless of the city council's decision, with The Sunday Times UK reporting on Monday that YTL Corp will also build 5,000 homes and a commercial cluster of small aerospace and technology companies there.
Pasukhas Group Bhd is buying a 60% stake in an Indonesian coal trading company PT Berkah Bumi Leluhur for 3.3 billion rupiah (RM1 million).
Pasukhas executive director and chief executive officer Wan Thean Hoe said the stake acquisition of PT Berkah will create opportunities for it to expand its coal trading business, which is synergistic with its concessionaire business.