2 days ago
Trading ideas: IOI Properties, Affin, Nestcon, Grean Ocean, I-Bhd, Sime Property, Bintai Kinden, TMK, HE
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
IOI Properties Group Bhd is acquiring the remaining 50.1% stake in Singapore's South Beach development from City Developments Ltd for RM2.75bn (SGD834.2mn), gaining full ownership of the mixed-use asset.
Affin Bank Bhd has raised USD300mn (RM1.3bn) through its first US dollar bond issuance under a USD2bn Euro Medium Term Note programme. The notes carry a 5.112% annual fixed rate and will be listed on the Singapore Exchange.
Construction company Nestcon Bhd said its diversification into property development will take longer and plans will be revised.
Green Ocean Corp Bhd plans to reallocate RM20.2mn from its rights issue funds, originally intended for its glove business, to support the expansion of its food and beverage segment, citing ongoing challenges in the glove industry such as falling prices and low utilisation.
I-Bhd has committed RM10.0mn to implement artificial intelligence and robotics infrastructure across its income-generating assets in i-City, with full rollout targeted by 2028.
Sime Darby Property Bhd has raised the minimum living wage for employees in the B40 income group by 80%, from RM1,500 to RM2,700 a month, as part of its commitment to employee well-being and inclusive growth.
Bintai Kinden Corporation Bhd has seen its independent non-executive chairman, Datuk Ng Choon Koon, become a substantial shareholder again after acquiring shares on the open market and raising his stake to 6.62%.
TMK Chemical Bhd announced that a major supplier will terminate its alkali distribution agreement in Vietnam effective Dec 31, 2025.
HE Group Bhd ,which made its debut on Bursa's ACE Market just over a year ago, is planning to transfer to the Main Market.
