Malayan Flour Mills, Yinson, FGV, Gamuda, Litrak, Scomi Energy, Teladan Setia, Southern Cable, KSL, Hextar Industries, Eonmetall, Stella, Berjaya Assets, BCorp, PLS Plantations and G Neptune

Malayan Flour Mills, Yinson, FGV, Gamuda, Litrak, Scomi Energy, Teladan Setia, Southern Cable, KSL, Hextar Industries, Eonmetall, Stella, Berjaya Assets, BCorp, PLS Plantations and G Neptune

KUALA LUMPUR (Aug 8): Here is a brief look at some corporate announcements and news flow on Monday (Aug 8), which include Malayan Flour Mills Bhd, Yinson Holdings Bhd, FGV Holdings Bhd, Gamuda Bhd, Lingkaran Trans Kota Holdings Bhd (Litrak), Scomi Energy Services Bhd, Teladan Setia Group Bhd, Southern Cable Group Bhd, KSL Holdings Bhd, Hextar Industries Bhd, Eonmetall Group Bhd, Stella Holdings Bhd, Berjaya Assets Bhd, Berjaya Corp Bhd (BCorp), PLS Plantations Bhd and G Neptune Bhd.

Malayan Flour Mills Bhd has denied that its partially-owned Dindings Poultry Development Centre Sdn Bhd is part of any cartel or involved in price fixing with the companies recently named by the Malaysia Competition Commission last Friday (Aug 5).

Yinson Holdings Bhd’s unit Green EV Charge Sdn Bhd is exploring collaboration to provide electric vehicle charging infrastructure access to vehicle-sharing platform operator GoCar Mobility Sdn Bhd.

FGV Holdings Bhd has formed a joint-venture company to develop an integrated dairy farm business in Chuping, Perlis. Its wholly-owned subsidiary FGV Integrated Farming Holdings Sdn Bhd had entered into a conditional shareholders agreement with Qatar-incorporated Baladna for Trading and Investment W.L.L, and Touch Group Holdings Sdn Bhd.

On the other hand, FGV is venturing into “ayam kampung” or native chicken feed production from rice byproducts, under a collaboration with Padiberas Nasional Bhd, to reduce Malaysia’s dependence on imported chicken feed and cut prices of the product in the country.

Shareholders of Gamuda Bhd and Lingkaran Trans Kota Holdings Bhd (Litrak) have given the go-ahead for the disposal of four Klang Valley highway concession holding companies — Kesas Holdings Bhd, Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd, Lingkaran Trans Kota Sdn Bhd, and Projek Smart Holdings Sdn Bhd — to Amanat Lebuhraya Rakyat for an aggregate RM4.477 billion.

Shareholders of Scomi Energy Services Bhd have given the go-ahead for the disposal of its oilfield services business division for RM21 million. The approved disposal consists of 100% equity interest in Scomi Oilfield Ltd, together with nine of its subsidiaries and 48% equity interest in Scomi KMC Sdn Bhd to Cahya Mata Oiltools Sdn Bhd; and the disposal by Scomi Oiltools Sdn Bhd (SOSB) — a subsidiary of SESB — of its equity interest in Scomi KMC Sdn Bhd, Scomi Oiltools Gulf W.L.L, its property in Dataran Prima and its inventories and equipment to Oiltools international Sdn Bhd.

Teladan Setia Group Bhd, whose share price climbed to a record high last Friday, told Bursa Malaysia that it is not aware of any corporate development that would have caused the unusual market activity.

Southern Cable Group Bhd proposes to undertake a bonus issue of warrants on the basis of one warrant for every two shares, hoping to raise as much as RM117.68 million for working capital.

KSL Holdings Bhd said it is buying 84 acres of land in Johor Bahru from Tropicana Corp Bhd for RM109.89 million. The land in Pulai will be used for landed property development, KSL said, noting that the purchase will enhance the group's presence in the property market in Johor.

Hextar Industries Bhd, formerly known as SCH Group Bhd, is buying a 100% stake in a fertiliser manufacturing business from its major shareholder Hextar Holdings Sdn Bhd for RM480 million, which will be settled by an issuance of new shares. Hextar Industries will issue 1.6 billion new shares at 30 sen each to Hextar Holdings for the acquisition of Hextar Fertilizers Ltd, which is involved in manufacturing, formulation, distribution and trading of a wide range of fertilisers.

Eonmetall Group Bhd plans to dispose of its 51% stake in glove company Lienteh Technology Bhd for RM35.7 million, amid the tough business environment in the glove industry. The disposal plan was made after demand for gloves and price pressure caused some of Lienteh's customers to cancel current purchase contracts or negotiate new ones, as well as reduce orders.

Stella Holdings Bhd, through its wholly-owned subsidiary Mewah Kota Sdn Bhd, has accepted a RM33.88 million contract to improve the water distribution system in Johor from Pengurusan Aset Air Bhd.

Berjaya Assets Bhd announced that its wholly-owned subsidiary Berjaya Bright Sdn Bhd has disposed of a total of 24.50 million ordinary shares, representing about 0.44% equity interest in Berjaya Corp Bhd (BCorp) for a total cash consideration of RM5.64 million or RM0.23 per share.

PLS Plantations Bhd has inked a memorandum of understanding with the Ministry of Agriculture and Food Industries to work on a proposal for the National Food Security Policy.

G Neptune Bhd said a proposal to change its name to Southern Score Builders Bhd has been approved by the Companies Commission of Malaysia. The change of name is now subject to the approval of its shareholders at an extraordinary general meeting to be held at a later date.

https://www.theedgemarkets.com/article/malayan-flour-mills-yinson-fgv-gamuda-litrak-scomi-energy-teladan-setia-southern-cable-ksl