Trading ideas: TNB, Bursa, HI Mobility, KIP REIT, UUE, Pestec, Jati Tinggit, SL Innovation, SC Estate, Majuperak, Oasis, Pavilion REIT
Tenaga Nasional Bhd has been given the green light by the High Court to commence judicial review against the Inland Revenue Board in relation with tax assessment totalling RM291.6mn for FY18.
Bursa Carbon Exchange, a subsidiary of Bursa Malaysia Bhd , will host its first bilateral energy supply contract auction this November.
HI Mobility Bhd is working to resolve a strike involving drivers of its flagship bus brand Causeway Link, following a recent wage cut.
Unitholders of KIP Real Estate Investment Trust have given the green light at its extraordinary general meeting for the RM118.0mn acquisition of 4 retail properties in Kuantan and Selangor as well as a RM132.0mn private placement to fund part of the purchase and subsequent enhancements.
UUE Holdings Bhd have inked a memorandum of understanding with Asean Cableship Pte Ltd to provide horizontal directional drilling solutions for offshore telecommunications and infrastructure projects in the Asia Pacific region.
Pestec International Bhd has been sued by its former group CEO Paul Lim Pay Chuan and his uncle, former deputy chairman Lim Ah Hock, for a total of RM17.5mn in alleged unpaid advances.
Jati Tinggi Group Bhd has secured a RM19.4mn contract from Tenaga Nasional Bhd for submarine cable works in Perak via a 70:30 joint venture.
SL Innovation Capital Bhd has decided to defer plans to transfer its listing from the LEAP Market to the ACE Market, citing prevailing market uncertainties.
SC Estate Builder Bhd is disposing of a piece of land in Alor Setar, Kedah, measuring 5,834 sq metres to Novium Pinnacle Sdn Bhd for RM8.8mn.
Majuperak Holdings Bhd 's RM18.4mn proposed disposal of Brewster Village to Ladang Lekir Sdn Bhd was terminated due to unmet conditions. Majuperak remains an affected issuer and aims to submit its revised plan by 11 October 2025.
Oasis Harvest Corporation Bhd, which operates restaurants, saw the emergence of Labuan-based European Credit Investment Bank Ltd as its new substantial shareholder.
Pavilion Real Estate Investment Trust 's net property income rose 8.2% YoY to RM129.8mn in 2QFY25, thanks to higher contributions from Pavilion Bukit Jalil and advertising revenue from Elite Pavilion Mall.
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Malaysiakini
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Thompson also cited an "overarching policy consideration" that because Intel's public statements suggested a "trial-and-error" approach to the foundry business, the company could have faced risks from reporting preliminary, unaudited data. The judge dismissed an earlier version of the lawsuit in March. Wednesday's dismissal was with prejudice, meaning the shareholders cannot sue again. A federal judge dismissed a lawsuit accusing Intel of defrauding shareholders by concealing problems in a business where it manufactured chips for outside customers, leading to a $32 billion one-day plunge in its market value. While saying she "understands plaintiffs' frustrations," U.S. District Judge Trina Thompson in San Francisco ruled on Wednesday that Intel did not wait too long to reveal a $7 billion fiscal 2023 operating loss in its foundry business. Intel's stock price sank 26% last August 2, one day after the chipmaker announced more than 15,000 layoffs and suspended its dividend, hoping to save $10 billion in 2025. The Santa Clara, California-based company created the foundry business in 2021 to serve customers including and Qualcomm, while still making chips and wafers for internal use. In a 21-page decision, Thompson said Intel made clear that foundry results would be "obscured" until 2024, meaning its earlier financial reporting was not false and misleading. Thompson also cited an "overarching policy consideration" that because Intel's public statements suggested a "trial-and-error" approach to the foundry business, the company could have faced risks from reporting preliminary, unaudited data. The judge dismissed an earlier version of the lawsuit in March. Wednesday's dismissal was with prejudice, meaning the shareholders cannot sue again. 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Intel has struggled to compete with rival chipmakers such as Nvidia, Advanced Micro Devices, Samsung Electronics and Taiwan's TSMC, and benefit from growth in artificial intelligence. The company lost $18.8 billion in 2024, its first annual loss since 1986. The case is In re Intel Corp Securities Litigation, U.S. District Court, Northern District of California, No. 24-02683. (Reporting by Jonathan Stempel in New YorkEditing by Nick Zieminski)
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Irish watchdog warns X over adult content controls
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