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MyEG, Inix, Tropicana, Batu Kawan, CCM, Genting Malaysia, MTD ACPI Engineering, Masteel,

KUALA LUMPUR (Dec 7): Based on corporate announcements and news flow today, companies that may be in focus on Tuesday (Dec 8) include: MyEG Services Bhd, Inix Technologies Holdings Bhd, Tropicana Corp Bhd, Batu Kawan Bhd, Chemical Company of Malaysia Bhd (CCM), Genting Malaysia Bhd, MTD ACPI Engineering Bhd, Malaysia Steel Works (KL) Bhd (Masteel), Malayan Banking Bhd and Yong Tai Bhd.

MyEG Services Bhd (MyEG) has entered into a cooperation with Anhui Zhifei Longcom Biopharmaceutical Co Ltd (Zhifei) via a memorandum of understanding, to obtain Malaysian halal certification for the Chinese biopharma company’s Covid-19 vaccine and to exclusively distribute the vaccine in Malaysia for a three-year period.

The commencement of the Phase 3 trials will make Zhifei’s vaccine one of the first to undergo the final-stage trials in Malaysia, under the purview of the Ministry of Health (MoH).

Former inspector-general of police (IGP) Tan Sri Mohamad Fuzi Harun has resigned effective today from his role as Inix Technologies Holdings Bhd's independent and non-executive chairman, five days after his appointment, to "spend more time on personal interest and ongoing businesses”.

Succeeding the former IGP as Inix's chairman will be Tan Sri Syed Mohd Yusof Tun Syed Nasir, who was previously chairman of YLI Holdings Bhd — a post he relinquished in January.

Tropicana Corp Bhd, which also announced a couple of boardroom changes today, said the recent acquisitions of RM78.47 million worth of shares in Top Glove Corp Bhd is part of its investment strategy to capitalise on the potential robust growth of the rubber glove maker.

Tropicana said the acquisitions allow the company to benefit from the prospects of the manufacturing and trading of gloves, which are largely contributed by the increased demand globally for gloves due to the ongoing Covid-19 pandemic and also the growth in the global healthcare services industry.

Batu Kawan Bhd today made a formal offer to buy all shares in Chemical Company of Malaysia Bhd (CCM) that it does not already own at RM3.10 per share. This is the price the group is paying to acquire a 56.32% stake in CCM for RM292.97 million cash from Permodalan Nasional Bhd (PNB).

Upon completion of the acquisition, Batu Kawan’s shareholding in CCM will be increased to 59.73% from 3.41%.

Genting Malaysia Bhd’s resort in the Bahamas, which includes some 305 rooms and a casino, will be reopening on Boxing Day (Dec 26).

Resorts World Bimini Bahamas said it had been taking extra precautions for the safety of its guests, noting that limited offers including two-night packages are currently available for booking.

MTD ACPI Engineering Bhd has received an offer from its controlling shareholder MTD Capital Bhd to take the construction engineering firm private via a selective capital reduction and repayment exercise (SCR).

MTD Capital executive chairman Tan Sri Dr Nik Hussain Abdul Rahman indirectly holds the entire equity interest in the group and is deemed to be the ultimate offeror for the proposed SCR, which involves MTD ACPI undertaking a selective capital reduction and a corresponding capital repayment to all shareholders of the company on an entitlement date to be determined later.

Integrated steel manufacturer Malaysia Steel Works (KL) Bhd (Masteel) has proposed a rights issue with free detachable five-year warrants to raise up to RM81.5 million, which would be used for mainly working capital requirements, and repayment of bank borrowings.

The rights shares will be issued on the basis of one rights share for every two existing Masteel shares held, on an entitlement date to be determined later. Subsequently, one free detachable warrant would be issued for each rights share subscribed by shareholders.

Malayan Banking Bhd (Maybank) is among participating banks of the newly-launched Singapore Financial Data Exchange (SGFinDex), which will enable Singaporeans to consolidate their financial information for more effective financial planning, according to a joint statement today by the Monetary Authority of Singapore, Smart Nation and Digital Government Group and The Association of Banks in Singapore.

Yong Tai Bhd has announced a private placement to raise up to RM92.02 million to be used to fund the development of its Impression City and Impression U-Thant projects, as well as for working capital.

The private placement will consist of up to 20% of its total number of shares to independent third party investors to be identified later.

For the first tranche of the proposed private placement of 25 million placement shares, the board has decided to fix the issue price at 40 sen per share, representing a premium of approximately 35.69% to the five-day volume-weighted average market price of its shares.

https://www.theedgemarkets.com/article/myeg-inix-tropicana-batu-kawan-ccm-genting-malaysia-mtd-acpi-engineering-masteel-maybank-and

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