-->

Type something and hit enter

On


Top Glove, Minda Global, BIMB, GenM, UWC, ConnectCounty, Jade Marvel, MHB

KUALA LUMPUR (April 13): Based on corporate announcements and news flow today, companies in focus tomorrow (April 14) may include Top Glove Corp Bhd, Minda Global Bhd, BIMB Holdings Bhd, Genting Malaysia Bhd, UWC Bhd, ConnectCounty Holdings Bhd, Jade Marvel Group Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd.

Tan Sri Dr Lim Wee Chai, founder and executive chairman of the world's largest rubber glove producer Top Glove Corp Bhd, has emerged as a minority shareholder of Malaysian private education group Minda Global Bhd. However, Minda did not respond to requests for comment on the transaction. Lim bought the shares in a recent placement and holds less than 5% of the Cyberjaya-based company, according to people with knowledge of the matter, who asked not to be identified as the information is private.

BIMB Holdings Bhd said it has set the issue price of its private placement shares at RM3.58 apiece, which will raise RM795.55 million for the banking group. The placement has been oversubscribed with demand from both existing shareholders and new investors. The group will be issuing 222.22 million new shares, representing approximately 12% of the issued share capital of BIMB as at April 12.

Genting Malaysia Bhd's (GenM) wholly-owned unit GENM Capital Labuan Ltd has priced its offering of US$1 billion of 3.88% senior unsecured notes due 2031. GenM said the notes will be fully and unconditionally guaranteed by the group. The net proceeds from this offering will be used by the company and/or its subsidiaries to refinance existing borrowings and for capital, including investment, and working capital requirements, it said.

Engineering support services provider UWC Bhd has been engaged by a key customer to develop a tester for its 5G product. The group said it "has received a 5G product from a key customer, Customer B, to develop and manufacture the world's highest frequency 5G OTA (over-the-air) chamber". UWC said the 5G tester will provide a measurement environment for characterising wireless and antenna system performance of devices at millimetre-wave frequencies.

ConnectCounty Holdings Bhd has proposed to diversify its business to include the undertaking of construction, project management and related activities. The loss-making cable and connector manufacturer said it is looking for opportunities that will broaden its earnings base, while reducing its operational costs in order to improve its financial performance. The group expects the new construction business to contribute to more than 25% of its net profit or a diversion of more than 25% of its net assets.

Jade Marvel Group Bhd has proposed to undertake a private placement of not more than 10% of its issued share capital to raise up to RM13.18 million, which will be utilised for property development and repayment of bank borrowings. The shares will be issued to third-party investors, who will be identified later. The issue price of the placement shares will also be determined at a later date. For illustrative purposes, the indicative issue price of the placement shares is assumed at RM1.04 per share.

Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) said its unit has secured a contract to undertake the engineering, procurement, construction, transportation and installation, and hook-up and commissioning services for the Jerun gas field, located offshore Sarawak. MHB's wholly-owned unit Malaysia Marine and Heavy Engineering Sdn Bhd bagged the contract from SapuraOMV Upstream Inc.

https://www.theedgemarkets.com/article/top-glove-minda-global-bimb-genm-uwc-connectcounty-jade-marvel-mhb

Back to Top
Back to Top