Latest news with #RM1.18
The Star
2 days ago
- Business
- The Star
Trading ideas: Capital A, UUE, Sunway REIT, Encorp, Benalex, KNM, Destini, Kumpulan Kitacon
KUALA LUMPUR: Stocks to watch today include Capital A Bhd , UUE Holdings Bhd, Encorp Bhd , Benalec Holdings Bhd , KNM Group Bhd , Sunway Real Estate Investment Trust (Sunway REIT), Destini Bhd and Kumpulan Kitacon Bhd . UUE's subsidiary, Kum Fatt Engineering Sdn Bhd, has renewed its contract with Komasi Engineering Sdn Bhd and won three more contracts from them. The total value of the contracts is RM92.4mil. Capital A is nearing completion of its PN17 regularisation plan, with just 15-20% of the process left. Chief executive officer Tan Sri Tony Fernandes expects it to be finalised by July 2025 at the latest. Encorp has appointed Ahmad Harzimi Mohd Taib, 51, as its group chief executive officer (CEO), effective June 10, 2025. Benalec's unit has secured a two-year coal transport contract from TNB Fuel Services Sdn Bhd, worth up to 3.5 million metric tonnes annually, with potential earnings uplift starting FY2025. KNM is calling for a court-convened creditors' meeting to present its RM1.18 billion debt settlement scheme. It said the proposed scheme of arrangement (SoA) represents a significant milestone in KNM's financial recovery plan, offering a fair and sustainable solution to all stakeholders. Sunway REIT has appointed Ng Bee Lien (52) as its acting CEO, with effect from June 16. Its current CEO, Chen Kok Peng (42), has resigned to take up the position of chief financial officer (CFO) at Sunway Bhd . Sunway REIT said Ng will assume the role of CEO on an interim basis until a suitable candidate is identified and appointed. Destini has been awarded a tubular handling equipment and services contract from Hibiscus Oil & Gas Malaysia Ltd for operations in the PM3-CAA field, an operating oil and gas field in Vietnam-Malaysia. Kumpulan Kitacon's wholly-owned subsidiary, Kitacon Sdn Bhd, has secured a construction contract worth RM87.88mil from GLM Emerald West (Rawang) Sdn Bhd. Overnight, the S&P 500 climbed 0.55% to end the session at 6,038.81 points. The Nasdaq gained 0.63% to 19,714.99 points, while the Dow Jones Industrial Average rose 0.25% to 42,866.87 points.
New Straits Times
2 days ago
- Business
- New Straits Times
KNM calls creditors' meeting to finalise RM1.18bil debt settlement plan
KUALA LUMPUR: KNM Group Bhd is calling for a court-convened creditors' meeting to present its RM1.18 billion debt settlement scheme. In a statement, the management service company said the proposed scheme of arrangement (SoA) represents a significant milestone in KNM's financial recovery plan, offering a fair and sustainable solution to all stakeholders. "The SoA, developed in close consultation with the company's major creditors, proposes full recovery of the compromised debt amounting to RM1.18 billion for the combined group, with creditors agreeing to waive accumulated interest and penalties totalling RM182 million as of the cut-off date, June 30, 2023," it said. KNM said under the terms of the proposal, creditors will receive 100 per cent recovery of principal, reflecting a strong and responsible financial restructuring effort, as well as settlement through the issuance of a five-year zero-coupon redeemable unsecured loan stock (RULS) totalling RM204 million. "Repayment of the RULS will be made via a combination of proceeds from any funds released from the escrow account tied to the recent Borsig sale to NGK Insulators Ltd, as well as proceeds from the sale of three assets - Thailand, the United Kingdom, and the FBM Hudson facility. "To strengthen KNM's ability to resume and grow its core operations, creditors have also agreed to allow the company to retain RM100 million in upfront cash proceeds from the Borsig sale. These funds will be utilised as working capital to revitalise and invest in KNM's fabrication operations in Malaysia," it said. Furthermore, KNM said to accelerate the repayment, the company will use any excess funds beyond the RM100 million initial cash injection and six months' working capital to redeem outstanding RULS on a rolling basis. KNM chief executive officer Ravindrasingham Balasingham said the group's creditors have been supportive of KNM over the last few years and have had constant engagement with the management. He said the SoA reflects the ongoing partnership and confidence in KNM. "It secures 100 per cent settlement of principal for the creditors and the necessary funds for rebuilding KNM's future operations - this scheme is great for the creditors, customers, employees and shareholders of KNM," he said. KNM said the SoA demonstrates its commitment to honouring its obligations while ensuring that the company remains operationally viable. "By aligning the interests of both creditors and shareholders, the proposal paves the way for long-term stability and business growth, particularly in Malaysia, where the company is refocusing its efforts," it added.
The Sun
20-05-2025
- Business
- The Sun
Gold trading, foreign exchange consultant charged with illegal deposit taking
KUALA LUMPUR: A gold trading and foreign exchange consultant pleaded not guilty in the Sessions Court here today to a charge of illegal deposit taking involving RM1.18 million for investment purposes three years ago. Abel Ong Jun Wen, 31, was charged with receiving the money from financial consultant, Tan Wai Mei, 40, (she) without a valid licence under Section 10 of the Financial Services Act 2013 at a house in Taman Sentul Bahagia, Sentul here between Oct 17, 2022 and March 15, 2023. The charge, under Section 137 (1) of the Financial Services Act 2013 and is punishable under Section 137 (2) of the same law, provides a maximum jail term of 10 years or a fine not exceeding RM50 million or both, if convicted. Judge Azrul Darus allowed Ong bail of RM30,000 as requested by the prosecution and also ordered him to report to a nearby police station once a month. He also set June 24 for mention. Earlier, lawyer Benedict Choong, representing Ong, when applying for a lower bail, said his client was a bankrupt and was not a flight risk. The prosecution was represented by Deputy Public Prosecutor Noor Syafina Mohd Redzuan.
The Sun
20-05-2025
- Business
- The Sun
Gold, forex consultant charged with illegal deposit taking
KUALA LUMPUR: A gold trading and foreign exchange consultant pleaded not guilty in the Sessions Court here today to a charge of illegal deposit taking involving RM1.18 million for investment purposes three years ago. Abel Ong Jun Wen, 31, was charged with receiving the money from financial consultant, Tan Wai Mei, 40, (she) without a valid licence under Section 10 of the Financial Services Act 2013 at a house in Taman Sentul Bahagia, Sentul here between Oct 17, 2022 and March 15, 2023. The charge, under Section 137 (1) of the Financial Services Act 2013 and is punishable under Section 137 (2) of the same law, provides a maximum jail term of 10 years or a fine not exceeding RM50 million or both, if convicted. Judge Azrul Darus allowed Ong bail of RM30,000 as requested by the prosecution and also ordered him to report to a nearby police station once a month. He also set June 24 for mention. Earlier, lawyer Benedict Choong, representing Ong, when applying for a lower bail, said his client was a bankrupt and was not a flight risk. The prosecution was represented by Deputy Public Prosecutor Noor Syafina Mohd Redzuan.
Yahoo
08-04-2025
- Business
- Yahoo
Why D & O Green Technologies Berhad (KLSE:D&O) Could Be Worth Watching
While D & O Green Technologies Berhad (KLSE:D&O) might not have the largest market cap around , it received a lot of attention from a substantial price movement on the KLSE over the last few months, increasing to RM2.35 at one point, and dropping to the lows of RM1.15. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether D & O Green Technologies Berhad's current trading price of RM1.18 reflective of the actual value of the small-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let's take a look at D & O Green Technologies Berhad's outlook and value based on the most recent financial data to see if there are any catalysts for a price change. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. D & O Green Technologies Berhad appears to be expensive according to our price multiple model, which makes a comparison between the company's price-to-earnings ratio and the industry average. We've used the price-to-earnings ratio in this instance because there's not enough visibility to forecast its cash flows. The stock's ratio of 51.22x is currently well-above the industry average of 29.37x, meaning that it is trading at a more expensive price relative to its peers. If you like the stock, you may want to keep an eye out for a potential price decline in the future. Given that D & O Green Technologies Berhad's share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future. This is based on its high beta, which is a good indicator for share price volatility. See our latest analysis for D & O Green Technologies Berhad Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let's also take a look at the company's future expectations. With profit expected to more than double over the next couple of years, the future seems bright for D & O Green Technologies Berhad. It looks like higher cash flow is on the cards for the stock, which should feed into a higher share valuation. Are you a shareholder? It seems like the market has well and truly priced in D&O's positive outlook, with shares trading above industry price multiples. At this current price, shareholders may be asking a different question – should I sell? If you believe D&O should trade below its current price, selling high and buying it back up again when its price falls towards the industry PE ratio can be profitable. But before you make this decision, take a look at whether its fundamentals have changed. Are you a potential investor? If you've been keeping an eye on D&O for a while, now may not be the best time to enter into the stock. The price has surpassed its industry peers, which means it is likely that there is no more upside from mispricing. However, the positive outlook is encouraging for D&O, which means it's worth diving deeper into other factors in order to take advantage of the next price drop. Keep in mind, when it comes to analysing a stock it's worth noting the risks involved. For example - D & O Green Technologies Berhad has 1 warning sign we think you should be aware of. If you are no longer interested in D & O Green Technologies Berhad, you can use our free platform to see our list of over 50 other stocks with a high growth potential. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
