KUALA LUMPUR (July 15): Based on corporate announcements and news flow today, companies that in focus on tomorrow (July 16) may include: MISC Bhd, MGB Bhd, LBS Bina Group Bhd, Econpile Holdings Bhd, Gagasan Nadi Cergas Bhd, Ancom Bhd, Ancom Logistics Bhd, Nylex (Malaysia) Bhd, Malaysia Airports Holdings Bhd, AirAsia Group Bhd, Axiata Group Bhd, NetX Holdings Bhd and Lambo Group Bhd.
MISC Bhd has inked six Memoranda of Agreement with Zhejiang Satellite Petrochemical Co Ltd’s units for the purchase of six newbuild 98,000 cubic metres Very Large Ethane Carriers worth a total of US$726 million (RM3.09 billion). Concurrently, MISC, through its vessel-owning entity Portovenere and Lerici (Singapore) Pte Ltd, entered into a deal with Zhejiang for the time charter of the six vessels for operations in international waters.
Industrialised Building System (IBS) precast manufacturer MGB Bhd (formerly known as ML Global Bhd) has secured an RM215 million contract from its major shareholder LBS Bina Group Bhd's subsidiary to deliver the piling and building works for a housing development project in Kuala Selangor.
Piling and foundation specialist Econpile Holdings Bhd has bagged an RM21.4 million contract from Allevia Sdn Bhd. The contract comprises earthworks, piling, pile caps, substructure, elevated road and earthing system works for a development with 44- and 40-storey condominium blocks, basement and podium car parks and recreation facilities at Jalan Kiara 4, Batu district, Kuala Lumpur.
Gagasan Nadi Cergas Bhd’s indirectly-owned unit has bagged an RM40.02 million contract with Menteri Besar Selangor Inc to develop affordable housing on a 12.89-acre parcel of land. The land would be developed into 108 units of two-storey terrace houses and 40 units of Rumah SelangorKu townhouses. The project has an estimated gross development value of RM60.79 million and will take four years to complete.
Ancom Bhd, Ancom Logistics Bhd and Nylex (Malaysia) Bhd will undergo a restructuring exercise that will see the logistics business move to Nylex and the entry of immigration technology company S5 Holdings Inc into Ancom Logistics, said sources familiar with the plans.
Ancom is the holding company of Ancom Logistics and Nylex. Nylex is currently involved in the distribution, trading, manufacturing of petrochemicals and industrial chemical products, while Ancom Logistics does tanking and logistics for petrochemical and chemicals.
Malaysia Airports Holdings Bhd's (MAHB) passenger traffic in June plunged by a staggering 92.1% year-on-year (y-o-y), its third consecutive month of experiencing such a massive drop.
AirAsia Group Bhd, which has been battered by the COVID-19 pandemic, is confident of returning to the black by next year, said its chief executive Tan Sri Tony Fernandes.
This, he said, will be supported by proactive measures put in place by Asian authorities to address further outbreaks of the coronavirus disease, he said in an interview with US news outlet CNBC. “[That target] sounds incredibly bullish, but I’ve been through many, many crises before,” he said.
Axiata Group Bhd's subsidiary SmartLuy PLC has merged with Cambodia cashless-payment platform Pi Pay PLC after the National Bank of Cambodia and the Ministry of Commerce of Cambodia approved the corporate exercise.
NetX Holdings Bhd intends to raise up to RM62.95 million — higher than its market capitalisation of RM52.46 million — through a share consolidation and a rights issue with warrants. The bulk or 40% of the proceeds, totalling RM25 million will be used for marketing purposes for its lifestyle mobile applications GemSpot and GemSpot Lite. Another RM5 million will be used for the development of a food and beverage e-commerce platform, and RM8 million for development and integration of a business intelligence and data analytics system.
Lambo Group Bhd has proposed a private placement to raise up to RM14.8 million for its e-commerce business expansion. The private placement involves up to 813.3 million shares or 30% of the group’s issued share capital to independent third party investor to be identified later.