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The Star
14-07-2025
- Business
- The Star
Trading ideas: Affin Bank, Hong Leong Bank, BTM, Jasa Kita, Greatech, Meta Bright, Hextar REIT, MRCB, Econpile, SkyGate
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Affin Bank Bhd has been upgraded from 'A' to 'AA' in the Morgan Stanley Capital International environmental, social and governance ratings. Hong Leong Bank Bhd and Hong Leong Islamic Bank Bhd will revise their lending and deposit rates by 25 bps, effective July 14. BTM Resources Bhd has scrapped its 7MW renewable energy power plant project, citing difficulties in securing financing and rising project costs. Jasa Kita Bhd 's substantial shareholders Tan Sri Tan Hua Choon and Datuk Seri Tan Han Chuan, who collectively hold 181.3mn shares or 40.3% equity interest, have inked a conditional share sale agreement with Kintan Prima Sdn Bhd for their stake at RM68.9mn cash or 38 sen a share. Greatech Tech Bhd said GTech Holdings Sdn Bhd has transferred its 57.7% stake in the automated machinery group to GTech's two shareholders. Meta Bright Group Bhd has sold its wholly-owned Australian subsidiary, Meta Bright Australia Pty Ltd, for RM25.4mn as part of a strategic shift towards strengthening domestic operations. Hextar Real Estate Investment Trust said it has entered into a deal to buy two parcels of leasehold land in Melaka, totalling 41.8 acres, for RM40mn. Malaysian Resources Corp Bhd, through its wholly owned subsidiary Country Annexe Sdn Bhd, has entered into a joint venture development agreement with Ipoh Sentral Sdn Bhd to undertake the proposed Ipoh Sentral project in Ipoh, Perak. Econpile Holdings Bhd 's wholly owned subsidiary, Econpile (M) Sdn Bhd, has secured a RM98.2mn construction contract from Eastmont Sdn Bhd for a proposed industrial development in Klang, Selangor. SkyGate Solutions Bhd said it is raising its stake in SkyGate Integration Sdn Bhd (formerly Leader Range Technology Sdn Bhd) to 95% by acquiring another 44% stake for RM9.8mn via a share issuance deal.
The Star
11-07-2025
- Business
- The Star
Jasa Kita major shareholders sell 40% stake for RM68.9mil
PETALING JAYA: Jasa Kita Bhd 's substantial shareholders Tan Sri Tan Hua Choon and Datuk Seri Tan Han Chuan, who collectively hold 181.31 million shares or 40.33% equity interest, have inked a conditional share sale agreement with Kintan Prima Sdn Bhd for their stake at RM68.9mil cash or 38 sen a share. In a filing with Bursa Malaysia, Jasa Kita noted that at present, Kintan Prima, Abd Azis Muhamad (the director and controlling shareholder of Kintan Prima) and persons acting in concert, namely Datuk Seri Islandar Mizal Mahmood and Datuk Dr Yasmin Mahmood, collectively hold 44 million Jasa Kita shares, representing 9.79% equity interest in Jasa Kita. Upon completion of the proposed shares acquisition, the parties' stake will rise to 225.32 million shares or 50.12% equity stake and will be required to make a mandatory general offer at the same offer price of 38 sen a share. The offer price is at a small premium over Jasa Kita's last traded share price of 36.5 sen. Jasa Kita is involved in the trading and distribution of industrial tools, mechanical air tools and bathroom products. In a separate filing with the exchange, Jas Kita noted its wholly owned unit, JKB Development Sdn Bhd has entered into a conditional sales and purchase agreement with Logik Damai Sdn Bhd to dispose of four parcels of freehold industrial land held in Gombak, Selangor, for RM38mil cash Jasa Kita added the land parcels, measured an aggregate 14,086 sqm. Jasa Kita expects to make a net gain of RM29.5mil from the land sale and plans to use RM19mil from the sale proceeds for working capital.
