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Gadang, Hibiscus Petroleum, MSM, Jade Marvel, MCT, Tambun Indah Land, Cape EMS

KUALA LUMPUR (July 19): Here is a brief look at some corporate announcements and news flow on Tuesday (July 19), which include Gadang Holdings Bhd, Hibiscus Petroleum Bhd, MSM Malaysia Holdings Bhd, Jade Marvel Group Bhd, MCT Bhd, Tambun Indah Land Bhd and Cape EMS Bhd.

Gadang Holdings Bhd is undertaking subcontract works for a total sum of RM680 million in the Rapid Transit System Link project connecting Bukit Chagar, Johor Bahru to Woodlands, Singapore.

Hibiscus Petroleum Bhd said it is committed to resolving the state sales tax issues with the Sabah authorities in an amicable and collaborative manner, and will ensure minimal disruptions to its operations in the state.

MSM Malaysia Holdings Bhd plans to establish strategic warehouses in East Malaysia with sufficient buffer stockpile as part of food security infrastructure to ensure continuity in sugar availability during any crisis.

Jade Marvel Group Bhd has proposed to diversify its business to include prospecting and sale of iron ores, dolomite, sand and other minerals, to expand its revenue stream. The board anticipates that the new business will potentially contribute 25% or more of the group's net profit and/or result in a diversion of 25% or more of the group's net assets.

MCT Bhd's Alira in Tropicana Metropark, Subang Jaya saw a take-up rate of 30% during the launch event last weekend for its Phase 2. Phase 2 of Alira comprises 340 units with a gross development value of RM257 million. It offers built-ups ranging from 850 to 1,048 sq ft, with the indicative selling price starting from RM655,800.

Tambun Indah Land Bhd has declared a first and final dividend of 5.9 sen per share for the financial year ended Dec 31, 2021. The dividend, with an ex-date of Aug 24, will be paid on Sept 12.

Cape EMS Bhd is offering up to 259.7 million shares in an initial public offering (IPO) as it seeks to list on Bursa Malaysia's Main Market. The group intends to use the proceeds of the IPO for the construction of a new warehouse and installation of automated storage facilities and set-up of a new clean-room facility and purchase of new automated production lines for electronics manufacturing services' operations.


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