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CIMB, S P Setia, HIL Industries, Vsolar, Nestcon, KPJ Healthcare, XOX, Dolphin International and Fintec Global

KUALA LUMPUR (Jan 12): Based on corporate announcements and news flow on Wednesday (Jan 12), companies that may be in focus on Thursday include CIMB Group Holdings Bhd, S P Setia Bhd, HIL Industries Bhd, Vsolar Group Bhd, Nestcon Bhd, KPJ Healthcare Bhd, XOX Technology Bhd, Dolphin International Bhd and Fintec Global Bhd.

Omar Siddiq has resigned as CIMB Group Holdings Bhd's CEO of group wholesale banking and CIMB Bank Malaysia’s deputy CEO to join HSBC Bank Malaysia Bhd as its new CEO.

  Property developer S P Setia Bhd's subsidiary Setia HC Ventures Sdn Bhd has incorporated a unit, Setia City Healthcare Sdn Bhd, to develop and operate an ambulatory care centre. The incorporation of Setia City Healthcare to develop and operate an ambulatory care centre is not unexpected. In its latest annual report for 2020, the company had identified healthcare as a segment with potential for business diversification.

HIL Industries Bhd received its shareholders’ approval at the extraordinary general meeting on Wednesday to undertake residential development joint ventures (JVs) on five parcels of land in Sungai Buloh, Klang and Jugra in Selangor. With the approval, HIL Industries will partner Unik Sejati Sdn Bhd, Pembinaan Kesentosaan Sdn Bhd and Amverton Carey Golf & Island Resort Sdn Bhd to develop residential developments with an estimated gross development value of RM471.1 million on 40.9 hectares land in Selangor. The developments will comprise 154 stratified double-storey terrace houses in Sungai Buloh, 78 double-storey terrace houses in Klang, as well as 141 stratified bungalows and 428 townhouses in Amverton Cove, Carey Island.

Vsolar Group Bhd said it has accepted an RM96.27 million job to procure and supply parts to RA Integration Links Sdn Bhd to complete an overhaul of 50 sets of six-car light rail vehicle on the Ampang Light Rail Transit line.

Building and infrastructure construction services provider Nestcon Bhd has bagged two subcontracts worth a combined RM90.4 million for the construction and completion of subgrade works under the East Coast Rail Link project in Kota Bahru, Kelantan. They were awarded  by China Communications Construction (ECRL) Sdn Bhd.

KPJ Healthcare Bhd is establishing an RM3 billion sukuk wakalah programme to finance its expansion, as well as for working capital requirements and general corporate purposes. The sukuk programme has been assigned a preliminary rating of AA-IS(CG) by Malaysian Rating Corporation Bhd. Based on the maximum amount possible of RM3 billion under the sukuk programme, KPJ Healthcare’s total borrowings would swell to RM4.84 billion, bringing the group’s gearing ratio to 2.2 times versus 0.87 times a year prior.

XOX Technology Bhd’s auditor Ecovis Malaysia PLT has resigned because of cost and pricing issues. It said Ecovis had given its notice in writing to the board of its resignation. The company is in the midst of identifying new auditors, and will make further announcements in due course.

Tengku Ahmad Badli Shah Raja Hussin, who was appointed Agrobank president and chief executive last week, has resigned as the chairman of Dolphin International Bhd effective Wednesday, after helming the post since January 2020. Ahmad Badli, 53, also announced his departure as an independent director at Fintec Global Bhd.

https://www.theedgemarkets.com/article/cimb-s-p-setia-hil-industries-vsolar-nestcon-kpj-healthcare-xox-dolphin-international-and

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