Trading ideas: Samaiden, Gamuda, Hextar Capital, Pekat, Magma, ACME, MRCB, Avillion, EG, Paradigm REIT, Maxis, CSC, PIE
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Samaiden Group Bhd has secured a RM108.6mn contract to carry out engineering, procurement, construction and commissioning works for the development of a large-scale solar photovoltaic project.
Gamuda Bhd via its wholly-owned subsidiary Gamuda Land (T12) Sdn Bhd has proposed to acquire three parcels of land measuring about 336 acres for RM248.7mn for development as an extension of its 1,530-acre Gamuda Cove township.
An associate company of Hextar Capital Bhd has secured a RM427.5mn contract by Tenaga Nasional Bhd for the establishment of a transmission main intake 500/275kV gas insulated substation in Gurun East, Kedah.
Pekat Group Bhd 's indirect 60%-owned unit, EPE Switchgear (M) Sdn Bhd, has secured a RM135.2mn contract from Tenaga Nasional Bhd to undertake the supply, installation, testing and commissioning of 33kV and 11kV gas insulated switchgear and related equipment for TNB's electricity distribution network.
Magma Group Bhd via its wholly-owned subsidiary Magma Chain Management Sdn Bhd, is setting up a joint venture company with beverage retailer Chagee (M) Sdn Bhd to operate and grow the Chagee business in Malaysia.
ACME Holdings Bhd is selling its property in Perai, Penang to Nation Robo Sdn Bhd for RM22mn cash.
Malaysian Resources Corp Bhd has secured a contract to develop the Kompleks Sukan Shah Alam worth RM2.9bn.
Avillion Bhd , 21.8%-owned by Datuk Dani Abdul Daim, son of the late Tun Daim Zainuddin, plans to raise RM11.5mn through a private placement of 283mn new shares to refurbish one of its main hotels, Avillion Port Dickson.
EG Industries Bhd has secured a deal from a US-based firm to supply consumable network and AI-related products for the global market.
Main Market-bound Paradigm Real Estate Investment Trust aims to raise RM560mn from its IPO.
Maxis Bhd reported a 5.1% increase in net profit to RM371mn for 1QFY25 due to lower net finance costs compared to RM353mn in the same quarter last year.
CSC Steel Holdings Bhd posted a 44.2% YoY jump in net profit to RM12.6mn in 1QFY25, from RM8.7mn a year ago, thanks to lower raw material costs.
PIE Industrial Bhd 's net profit for 1QFY25 jumped 54.8% to RM15mn from RM9.7mn, thanks to higher demand from its existing customers and lower provision for slow-moving inventories.
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