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Singapore Investment


Cypark, KAB, Gamuda, SunCon, Hextar Tech, MAG, Petra Energy, G Capital, Bintai Kinden, Hektar REIT and Focus Point

KUALA LUMPUR (Jan 3): Here is a brief recap of some corporate announcements that made the news on Tuesday (Jan 3) involving Cypark Resources Bhd, Kejuruteraan Asastera Bhd, Gamuda Bhd, Sunway Construction Group Bhd, Hextar Technologies Solutions Bhd, MAG Holdings Bhd, Petra Energy Bhd, G Capital Bhd, Bintai Kinden Corp Bhd, Hektar Real Estate Investment Trust and Focus Point Holdings Bhd.

Jakel Group is expected to surface as the single largest shareholder in renewable energy company Cypark Resources Bhd, according to sources. Market sources told The Edge that Jakel’s investment arm Jakel Capital could be taking up the whole block of Cypark’s private placement exercise, involving 30% of the total issued shares. Another source, however, said Jakel Group will only be subscribing to half of the private placement shares — representing a 15% stake of the company — while the remaining half block is to be taken up by another friendly party.

Kejuruteraan Asastera Bhd’s (KAB) unit KAB Energy Holdings Sdn Bhd has secured a letter of award from Petronas Gas Bhd’s unit Regas Terminal (Lahad Datu) Sdn Bhd for the engineering, procurement, construction, and commissioning (EPCC) of a 52-megawatt (MW) power plant and its associated facilities in Sabah. The contract is for a total non-escalating all-inclusive fixed lump sum of RM230 million.

Gamuda Bhd’s wholly-owned subsidiary Gamuda Land (Botanic) Sdn Bhd is acquiring eight parcels of freehold land in Rawang collectively spanning 532 acres from Kundang Properties Sdn Bhd for RM360 million, for a mixed development with a gross development value of RM3.3 billion over a 10-year period. The land acquisition is synergistic to the group as the lands are located next to its existing 810-acre Gamuda Gardens township in north Sungai Buloh and are easily accessible via three major expressways, namely North-South Expressway, LATAR Highway, and Guthrie Corridor Expressway.

Sunway Construction Group Bhd’s (SunCon) wholly-owned subsidiary Sunway Construction Sdn Bhd has entered into a RM1.7 billion contract with Yellowwood Properties Sdn Bhd to provide general contractor services for a data centre construction project in Sedenak Tech Park (STeP), Johor. SunCon said the contract is expected to be completed by the third quarter of 2024.

Hextar Technologies Solutions Bhd announced the appointment of former Bank Negara Malaysia (BNM) governor Tan Sri Muhammad Ibrahim as its independent non-executive chairman. The tech company also announced the appointment of controlling shareholder Datuk Eddie Ong Choo Meng as its group chief officer, and Choo Joon Keong as its group deputy CEO and an executive director. Ong controls a 71.47% stake in Hextar Technologies — direct interest of 16.7% and indirect interest of 54.77% via his investment vehicle Hextar Tech Sdn Bhd.

MAG Holdings Bhd has proposed a private placement of up to 10% of its total issued shares to raise up to RM35.51 million — based on a placement size of 212.88 million shares and an illustrative issue price of 16.68 sen apiece — with RM30.25 million of the proceeds to partly fund the expansion of its prawn farm in Tawau, Sabah.

Petra Energy Bhd’s contract for the provision of services to operate and maintain Petroliam Nasional Bhd’s (Petronas) Banang oilfield off Terengganu has been extended by 22 months until Aug 6, 2024. Petra did not disclose the value of the supplementary agreement. The group’s original two-year contract awarded back in June 2020 carried an estimated value of US$40 million.

G Capital Bhd’s two-year contract for the chartering of school buses for the children of armed forces personnel has been extended by another year at an additional value of RM8.41 million. The contract with the Ministry of Defence (Mindef) now ends on Dec 31, 2023, with the total value rising to RM52.64 million from RM44.23 million.

Bintai Kinden Corp Bhd’s 51%-owned sub-subsidiary Bintai Energy Sdn Bhd (BESB) has secured additional subcontracts worth RM4 million to supply carbon steel piping, valves and piping accessories to various oil and gas businesses. The company also notified that BESB has received approved licences as dealers of instrumentation cables and general cables in relation to power and control from Petronas.

Hektar Real Estate Investment Trust (Hektar REIT) announced a final income distribution of 5.3 sen per unit for the fourth quarter ended Dec 31, 2022, taking its total distribution for the financial year 2022 to eight sen per unit. An income distribution reinvestment plan will be applied to the final income distribution, and the gross electable portion has been set at 5.3 sen per unit.

Focus Point Holdings Bhd is set to be transferred to the Main Market from the ACE Market on Thursday (Jan 5) under the "Consumer Products & Services” sector, after the optical retail chain store operator met the profit test of the Securities Commission Malaysia’s Equity Guidelines.


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