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Singapore Investment

Gamuda, Kumpulan Perangsang Selangor, Litrak, Oriental Holdings, Nestcon, Atlan, Binasat, Opcom, Golden Land and Cuscapi

KUALA LUMPUR (Oct 13): Here is a brief recap of some corporate announcements that made news on Thursday (Oct 13), involving Gamuda Bhd, Kumpulan Perangsang Selangor Bhd, Lingkaran Trans Kota Holdings Bhd (Litrak), Oriental Holdings Bhd (OHB), Nestcon Bhd, Atlan Holdings Bhd, Binasat Communications Bhd, Opcom Holdings Bhd, Golden Land Bhd and Cuscapi Bhd.

Amanat Lebuhraya Rakyat Bhd (ALR) has completed the acquisition of four highway concessionaires —  Lingkaran Trans Kota Sdn Bhd, Sistem Penyuraian Trafik KL Barat Sdn Bhd (Sprint), Kesas Sdn Bhd (Kesas) and Syarikat Mengurus Air Banjir dan Terowong Sdn Bhd (Smart), following its issuance of sustainable sukuk murubahah amounting to RM5.5 billion in nominal value. Separately, Gamuda Bhd said it received a total of RM2.35 billion from the equity disposals in Sprint, Litrak and Kesas and RM316 million for the disposal of its 50%-equity in Smart. Kumpulan Perangsang Selangor Bhd, which held the other 20% in Sprint, said it received RM183.4 million for the disposal. Gamuda’s 50%-owned Lingkaran Trans Kota Holdings Bhd (Litrak), which owns a 100% interest in Lingkaran Trans Kota Sdn Bhd and a 50% interest in Sprint, said it received RM2.28 billion and RM459 million respectively for the disposals of its entire equity in the two concessionaires.

Oriental Holdings Bhd (OHB) is planning to acquire the remaining shares in three plantation companies, namely Selasih Permata Sdn Bhd (SPSB); Oriental Boon Siew (Mauritius) Pte Ltd, or OBS (M); and Southern Perak Plantations Sdn Bhd (SPP), for a total of RM802.26 million. Simultaneously, with the proposed share acquisitions, OHB also signed agreements with Boontong Estates Sdn Bhd (BESB) to acquire three oil palm plantation estates — measuring a total of 3,450.35 hectares (ha) in Penang, Pahang and Kedah — amounting to RM397.1 million. The total aggregate purchase consideration for the above proposal of shares and land acquisitions amount to RM1.2 billion.

Nestcon Bhd’s subsidiary has secured a RM129.6 million contract for site clearance, earthworks and ancillary works in Mukah, Sarawak. Its wholly-owned unit, Nestcon Infra Sdn Bhd, which is principally involved in construction works, has been appointed as the contractor. It received a letter of award for the project on Thursday (Oct 13) from Sino Natural Resources Malaysia Sdn Bhd.

Atlan Holdings Bhd returned to the black in the second quarter ended Aug 31, 2022 with a net profit of RM2.61 million, compared to a net loss of RM9.26 million in the same quarter last year, thanks to improved revenue contributions from the group’s duty free and automotive segments. Quarterly revenue swelled over four times to RM87.76 million, from RM19.34 million in the same period a year ago. For the cumulative first half ended Aug 31, 2022, Atlan posted a net profit of RM7.23 million, compared to a net loss of RM5.83 million, whereas 1HFY23 revenue climbed 62.84% to RM165.13 million, from RM101.41 million.

ACE Market-listed Binasat Communications Bhd has proposed a bonus issue of free warrants on the basis of one warrant for every two shares held by the entitled shareholders. Total gross proceeds to be raised, assuming the warrants are fully exercised, is RM40.77 million, which will be utilised for the company’s working capital. In addition, the proposed free warrants — entailing the issuance of up to 194.15 million warrants — will also strengthen Binasat’s capital base and its shareholders’ funds.

Hextar Group chief executive officer Datuk Eddie Ong Choo Meng has raised his stake in fibre optic cable manufacturer Opcom Holdings Bhd to 20.69%, from 17.78% previously. Ong bought a total of 8.12 million shares in three separate blocks in the open market between Tuesday (Oct 11) and Thursday.

Golden Land Bhd has redesignated Tan Sri Hashim Meon as its independent and non-executive chairman, effective Thursday. Hashim, 75, was appointed to the board as an independent and non-executive director on Oct 7.

An offshore company, Radio Port Ltd, has emerged as a new substantial shareholder of Cuscapi Bhd after acquiring four million shares, raising its direct interest to 47.74 million shares, or a 5.05% stake. The British Virgin Islands-incorporated company acquired the shares on June 15.

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