Trading ideas: Binastra, Tower REIT, Capital A, VS Industry, Bertam Alliance, SCIB
Binastra has secured a RM268mil construction contract from TNJ Development Sdn Bhd for the proposed development of a 45-storey suite apartment block.
Tower REIT said its chief executive officer (CEO), Martin Kung Boon Keat, has resigned from the company to pursue other career opportunities.
Reuters reported that AirAsia is in advanced discussions to place an order for at least 100 Airbus jets at next week's Paris Airshow, a deal likely to mark the introduction to its fleet of the planemaker's smallest jet, the A220, industry sources said.
In the third quarter ended April 30, VSI's net profit fell more than half to RM23.8mil, or 0.62 sen per share, compared with RM54.4mil, or 1.43 sen, in the same quarter a year ago. Revenue for the quarter fell to RM909.4mil against RM1.01bil previously.
Bertam Alliance has regularised its financial condition and no longer triggers any of the Prescribed Criteria under Paragraph 2.1 of Practice Note 17 (PN17) and Paragraph 8.03A of the Main Market Listing Requirements of Bursa Malaysia.
Bertam said it will be uplifted from being classified as a PN17 company effective from 9 am today.
SCIB has announced a reshuffling of its board of directors to reinforce corporate governance, enhance leadership depth and support the company's strategic growth initiatives.
Datuk Chong Loong Men has been appointed as the new executive chairman of SCIB.
The company also announced the resignations of independent non-executive chairman, Datuk Seri Zaini Jass, and independent non-executive directors Kang Wei Luen, Ooi Hoot Kuang and Ng Cheng Shin.
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New Straits Times
3 days ago
- New Straits Times
Boeing's July aircraft deliveries tumble 20pct from June, trailing Airbus
Reuters SEATTLE: US planemaker Boeing said on Tuesday that it delivered 48 airplanes in July, down from 60 in June but five more than a year earlier. It was the most deliveries by the company in July since 2017, when it delivered 58 aircraft. Boeing continued to fall further behind European rival Airbus in deliveries this year. Airbus handed over 67 jets in July despite having a growing number of aircraft unable to be delivered because it lacks enough engines. That was down from 77 in July 2024, but it lifted Airbus' year-to-date tally to 373, compared with Boeing's 328. Airbus is also leading the US planemaker in single-aisle jet deliveries, with 286 A320neo family jets compared with Boeing's 243 737 MAX jets. About 66 per cent of all commercial jets are single-aisle planes. Boeing delivered 37 of its best-selling 737 MAX jets in July, 20 of which were for aircraft lessors and 17 for airlines. Boeing also handed over eight 787s, two 777 freighters and one 767 freighter. Airbus delivered five regional A220 jets, 54 of its cash-cow A320neo family, two A330s and six A350s. Aircraft deliveries are closely tracked by Wall Street because planemakers collect much of their payment when they hand over jets to customers. Boeing booked 31 gross orders in July, which included 30 for 737 MAX jets and one for a 787. The Republic of Iraq cancelled one 787 order, though it still has seven 787s on order. By the end of July, the aerospace giant had received 699 new orders this year, or 655 net orders after adjusting for cancellations and conversions. Its order backlog was 5,968 after adjusting for US accounting standards. Airbus has struggled with delayed deliveries from its largest engine supplier, CFM International, co-owned by GE Aerospace and Safran, but delays have spread to its RTX-owned rival Pratt & Whitney in the wake of a recent strike, the European planemaker said. Airbus still projects that it will deliver 820 jets by the end of the year, a seven per cent rise from last year. Boeing has not given guidance for annual deliveries. The US company is working to stabilise production after a mid-air panel blowout on a new 737 MAX in January 2024 exposed widespread production quality and safety problems.
The Star
4 days ago
- The Star
DRB-Hicom plans to acquire Spirit Malaysia
PETALING JAYA: DRB-Hicom Bhd plans to acquire the Malaysian operations of aerospace manufacturer Spirit AeroSystems – the world's largest standalone aerostructures company with an enterprise value of US$95.2mil. In a statement, the conglomerate said its wholly-owned subsidiary, Composites Technology Research Malaysia Sdn Bhd (CTRM) had entered into a conditional share purchase agreement with Spirit AeroSystems Inc and Spirit AeroSystems International Holdings, Inc. The acquisition is expected to be completed by year-end, making Spirit AeroSystems Malaysia Sdn Bhd (Spirit Malaysia) a wholly-owned subsidiary of CTRM. The purchase consideration is set to be fully satisfied in cash, which is expected to be funded through bank borrowings. Based on the latest audited consolidated financial statements for financial year 2024, Spirit Malaysia posted a profit after tax of RM70.1mil and net assets of RM770.5mil. According to DRB-Hicom, the acquisition represents a strategic opportunity to further enhance CTRM's competitive position in the aerospace industry by enhancing its aerostructures expertise. 'This would contribute towards improved scale, efficiency, and growth in various areas that would elevate CTRM's presence in key aerospace programmes,' the company said. The conglomerate added that it would also deepen its relationships with global original equipment manufacturers, while expanding CTRM's relationships with Airbus for its A220, A320, and A350 programmes, and with Boeing on the 737 and 787 programmes. 'At the same time, CTRM will enhance its presence across the supply chain and be better positioned for long-term competitiveness and sustainable growth in an increasingly challenging and dynamic aerospace market,' DRB-Hicom said. CTRM is known for developing and producing aircraft composites components for aerospace and non aerospace applications as well as offering a range of support services such as testing laboratory facilities, composites engineering and supplier management services. Spirit Malaysia supplies key components and other assemblies for Airbus and Boeing marquee programmes, including A220, A320/A321, A350, B737 and B787. In addition to its aerospace composite and metallic assembly expertise, it also provides engineering services, supply chain management services and shared services. Spirit Malaysia is also a key customer of CTRM, contributing 54.1% towards the latter's consolidated revenue for the financial year ended Dec 31, 2024. The acquisition followed news of Boeing receiving regulatory approval from the UK's Competition and Markets Authority for its planned acquisition of Wichita-based Spirit AeroSystems. According to reports, this meant investigations will not continue on to 'phase two'. Initial investigation began in June 2025 and had a deadline for the end of this month. The deal is reportedly expected to be completed in the fourth quarter of this year. At market close yesterday, DRB-Hicom's share price was 82 sen.
The Sun
4 days ago
- The Sun
CTRM to acquire Spirit AeroSystems Malaysia for US$95.2 million
PETALING JAYA: Composites Technology Research Malaysia Sdn Bhd (CTRM), a wholly owned subsidiary of DRB-HICOM Bhd, has signed a conditional share purchase agreement with Spirit AeroSystems Inc and Spirit AeroSystems International Holdings Inc to acquire Spirit AeroSystems Malaysia Sdn Bhd for US$95.2 million (RM403.6 million). The transaction is subject to approvals and conditions being fulfilled. In a statement, CTRM said the acquisition represents a strategic opportunity to enhance the company's further competitive position in the aerospace industry by improving its aerostructures expertise. This would contribute towards improved scale, efficiency, and growth in various areas that would elevate CTRM's presence in key aerospace programmes and deepen its relationships with global original equipment manufacturers, expanding CTRM's relationships with Airbus for their A220, A320, and A350 programmes, and to Boeing on the 737 and 787 programmes. At the same time, CTRM will enhance its presence across the supply chain, positioning itself better for long-term competitiveness and sustainable growth in an increasingly challenging and dynamic aerospace market. In addition, CTRM said the acquisition aligns with and supports ongoing efforts to strengthen Malaysia's position as a regional aerospace hub under the New Industrial Master Plan 2030 and the Malaysian Aerospace Blueprint 2030, as well as strategies to promote Malaysian ownership of strategic assets. CTRM is recognised as a leading supplier of advanced aerospace composites, specialising in the development and production of composite sub-assemblies for the global aerospace industry. Its core expertise lies in developing and producing aircraft composite components, as well as designing, developing, and manufacturing composite components for both aerospace and non-aerospace applications. CTRM also offers a range of support services, such as testing laboratory facilities, composite engineering and supplier management services. Spirit Malaysia is a world-class engineering and manufacturing business located in Subang, Selangor and operates as a supplier to global OEMs within the aerospace industry. It is primarily involved in the production of advanced technology aerostructures, as well as providing ancillary services to its related companies. The company supplies key components and other assemblies for Airbus and Boeing's marquee programmes, including Airbus' A220, A320/A321, and A350, as well as Boeing's B737 and B787. In addition to its aerospace composite and With its metallic assembly expertise, Spirit Malaysia also provides engineering services, supply chain management services, and shared services.
