Type something and hit enter

Singapore Investment Bloggers

Recent Post


Kossan, Caely, Cheetah, BAuto, TH Plantations, Axiata, Digi, TSR Capital and LKL

KUALA LUMPUR (June 17): Here is a brief look at some corporate announcements and news flow on Friday (June 17) involving Kossan Rubber Industries Bhd, Caely Holdings Bhd, Cheetah Holdings Bhd, Bermaz Auto Bhd, TH Plantations Bhd, Axiata Group Bhd, Digi.com Bhd, TSR Capital Bhd and LKL International Bhd.

Kossan Rubber Industries Bhd founder Tan Sri Lim Kuang Sia had in recent days raised his indirect stake in the rubber glove manufacturer after buying 7.06 million shares in his first Kossan share buy in about three months after the Employees Provident Fund (EPF) sold Kossan shares on the open market as investors evaluated the impact of the Covid-19 vaccine-led economic recovery on the rubber glove manufacturing sector.

Datuk Jovian Mandagie said lingerie maker Caely Holdings Bhd made a false announcement to Bursa Malaysia on Tuesday (June 14) regarding his alleged appointment as the executive vice chairman (EVC) of the company because there were no agreements indicating his acceptance of the appointment. Mandagie who is clothes retailer Cheetah Corp (M) Sdn Bhd's creative director, however, admitted that he attended a meeting with Caely representative Datuk Loh Ming Choon on Monday to discuss a potential collaboration with Caely. Cheetah Corp is an operating entity under Cheetah Holdings Bhd.

Similarly, just three days after Mandagie and Sandraruben Neelamagham were appointed as board members in Caely, the lingerie maker has announced the retraction of the appointments.  Notably, Jovian is the son-in-law of Prime Minister Datuk Seri Ismail Sabri Yaakob.

Meanwhile, just a day after the board of Caely lodged a police report denouncing the validity of the extraordinary general meeting (EGM) held on Wednesday (June 15), the requisitionists said that they have filed a legal action against Caely to, amongst others, seek a declaration that the EGM was validly held. The requisitionists are also seeking an injunction to restrain the incumbent Caely board from acting and/or holding themselves as directors, pending the determination of the validity of the EGM.

Bermaz Auto Bhd issued a fourth tranche of sukuk wakalah totalling RM100 million, under its RM500 million Islamic Commercial Papers (ICPs) programme, with the sukuk having a tenure of six months from the date of issuance. The proceeds raised may be used for refinancing existing financing or debt obligations (including any maturing sukuk wakalah) as well as for working capital and investment purposes.

TH Plantations Bhd, the plantation arm of Lembaga Tabung Haji, has completed the lodgement of a sukuk wakalah programme of up to RM1.08 billion in nominal value with the Securities Commission Malaysia. TH Plantations noted the programme will have a perpetual tenure, with the proceeds of each sukuk wakalah issued under the programme utilised to finance or refinance any existing or future Islamic financing of the issuer, including the outstanding sukuk issued under TH Plantations unit THP Suria Mekar Sdn Bhd's existing sukuk murabahah programme of up to RM1.2 billion. The proceeds will also be used to finance TH Plantations group's shariah-compliant business operation and for working capital purposes.

Axiata Group Bhd and Digi.com Bhd need more time to fulfil conditions that have been set out in the conditional share purchase agreement (SPA) signed on June 21, 2021 to merge their local mobile service operations. The two telcos announced to the stock exchange that the duo have agreed to extend the current longstop date on June 21 under the proposed merger of Celcom Axiata and Digi.com’s mobile telecommunication network operations to Dec 31 this year.

Property and construction group TSR Capital Bhd is disposing of a property in Port Dickson to Malaysia's McDonald's licensee Gerbang Alaf Restaurants Sdn Bhd. TSR Capital said it is selling part of a land measuring 36,617 sq ft together with a McDonald's restaurant erected on it for RM6 million.

LKL International Bhd has proposed to undertake a renounceable rights issue with free warrants to raise up to RM58.3 million to fund its diversification into the pharmacy business. The hospital and medical furniture manufacturer is also planning a share consolidation exercise by consolidating every 10 existing shares into one share.


Back to Top
Back to Top