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IHH Healthcare, Axiata, Digi, LBS Bina, APB Resources and Wah Seong

KUALA LUMPUR (Jan 5): Based on corporate announcements and news flow on Wednesday, companies that may be in focus on Thursday (Jan 6) include IHH Healthcare Bhd, Axiata Group Bhd, Digi.com Bhd, LBS Bina Group Bhd, APB Resources Bhd, and Wah Seong Corp Bhd

IHH Healthcare Bhd intends to file a motion to dismiss the amended complaint by Emqore Envesecure Private Capital Trust for the lawsuit involving damages in excess of US$6.5 billion. IHH Healthcare said it has strong grounds for seeking dismissal of Emqore Envesecure’s claims on three principal grounds, namely lack of personal jurisdiction, forum non-conveniens and failure to state a claim for relief. Emqore Envesecure is suing IHH Healthcare on allegations relating to the issuance of the shares of Fortis Healthcare Ltd to IHH Healthcare’s subsidiary.

The High Court has set Feb 9 to hear the applications from Axiata Group Bhd and its subsidiary Celcom Axiata Bhd to strike out a lawsuit by three Tune Talk Sdn Bhd shareholders, who are seeking to block the inclusion of a stake in Tune Talk in the proposed Celcom-Digi.com Bhd merger. The three plaintiffs, who collectively own 30.02% in Tune Talk, have applied for Axiata to be prohibited from including its 5.25 million Tune Talk shares representing a 35% stake in the mobile virtual network operator in the proposed merger with Digi.

LBS Bina Group Bhd said its property sales target for 2022 is RM1.6 billion, to be achieved by 14 planned launches that will cover the Klang Valley, Johor, Pahang and Perak. This will amount to 3,733 units with a gross development value of RM1.77 billion. In 2021, it achieved RM1.575 billion in property sales, surpassing its RM1.2 billion target.

APB Resources Bhd’s unit Amalgamated Metal Corp (M) Sdn Bhd has accepted a purchase order from Singapore’s Desmet Ballestra (SEA) Ptd Ltd to construct pressure vessels, columns and heat exchangers worth RM10.4 million.

Wah Seong Corp Bhd is selling a leasehold property on Pandan Road, Singapore for S$13 million (RM40.1 million) as part of its initiative to unlock idle assets and improve its working capital position. The piping expert said its indirect wholly-owned subsidiary in Singapore, WS Engineering & Fabrication Pte Ltd, is selling the 13,734 sq m land together with buildings erected on it to Swee Joo (Pte) Ltd. The property is not being used for any of Wah Seong’s fabrication operations as the group has moved its business to Batam Yard, Indonesia a few years ago.

https://www.theedgemarkets.com/article/ihh-healthcare-axiata-digi-lbs-bina-apb-resources-and-wah-seong

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