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KUALA LUMPUR (Sept 9): Based on corporate announcements and news flow today, stocks in focus on Thursday (Sept 10) may include: Ho Wah Genting Bhd, Omesti Bhd, Privasia Technology Bhd, AirAsia Group Bhd, Pansar Bhd, Magni-Tech Industries Bhd, Hibiscus Petroleum Bhd, Dutch Lady Milk Industries Bhd and Eversendai Corp Bhd.

Ho Wah Genting Bhd, which has jumped on the Covid-19 bandwagon, is considering appointing Xinkexian (Beijing) Biotechnology Co, Ltd (XKX) as its non-exclusive manufacturer to produce Covid-19 vaccines.

The group said its wholly-owned subsidiary HWGB Biotech Sdn Bhd has entered into a Memorandum of Understanding with XKX for a possible partnership.

Omesti Bhd has ceased to be a shareholder of Diversified Gateway Solutions Bhd (DGS), after disposing of its entire 40.14 million shares in the latter.

Omesti sold the shares in two blocks totalling 578,000 and 39.56 million units respectively yesterday, DGS said.

Privasia Technology Bhd plans to raise RM6.14 million through a private placement to repay borrowings and for working capital. This is assuming an issue price of 11 sen per placement share.

The private placement entails the issuance of up to 55.82 million  shares, representing 10% of the issued shares of the company, at a price to be determined later.

AirAsia Group Bhd has established a new wholly-owned unit which aims to be Asia’s leading provider of engineering services for AirAsia’s group of airlines and other commercial airlines.

The unit, Asia Digital Engineering Sdn Bhd, will be an avenue to earn additional income, which will contribute to the overall increase in revenue for AirAsia, the low-cost carrier said in a filing with Bursa Malaysia.

Pansar Bhd plans to diversify its business to include construction and civil engineering through the acquisition of Sarawak-based builder Perbena Emas Sdn Bhd for RM151 million cash.

Pansar said the proposed acquisition will enhance shareholder value and serves as a strategic entry into the construction industry in Sabah and Sarawak. Perbena has an existing order book of RM645 million and is in advanced stages of tendering for more than RM2 billion worth of new projects.

Magni-Tech Industries Bhd said it is disposing of a piece of freehold industrial land with a factory on site in Seberang Perai for RM22 million cash.

The 7.75-acre land with structures was acquired in 1990 for RM8 million, and carried a net book value of RM6.16 million as at end-April this year.

Hibiscus Petroleum Bhd is raising up to RM2 billion via a private placement, as part of its accelerated plan to acquire good value and high quality-producing assets.

This is in view of the improved oil and gas sector, as the global economy starts to recover from the crippling effects of the Covid-19, the group said.

Dutch Lady Milk Industries Bhd is assessing the prospects of a potential sale of its current factory land in Petaling Jaya.

The land comprises factory buildings, office complex and warehouse, and carries a net book value of RM28.4 million or 0.44 sen per share as at end last year, according to its latest annual report.

Eversendai Corp Bhd announced that it has created a world record and landmark feat in the construction industry with its iconic project, the “One Za’abeel” in Dubai. One Za’abeel is a high-rise, mixed-use luxury development in Dubai.

https://www.theedgemarkets.com/article/ho-wah-omesti-privasia-airasia-pansar-magnitech-hibiscus-dutch-lady-and-eversendai
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