Latest news with #USD41mn
The Star
09-05-2025
- Business
- The Star
Trading ideas: Lotte, PetGas, Sunway, Public bank, Green Packet, Kerjaya, GenM, MGRC, TechStore, PEOPLElogy, HHRG, MNC, Pentamaster, Pavilion REIT, BFood
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Lotte Chemical Titan has secured a 10-year ethylene supply contract from PT Asahimas Chemical that is valued at more than RM743.5mn. Petronas Gas Bhd has entered into shareholders' agreements with Sabah Electricity Sdn Bhd and Sabah Energy Corp Sdn Bhd to jointly develop a new 120MW power plant in the Federal Territory of Labuan. Sunway Bhd has received the nod to develop a 20.8-acre plot of land belonging to Railway Assets Corp in the heart of the Seremban city centre, which will have an estimated gross development value of RM2.2bn. Public Bank Bhd , Malaysia's third largest bank by assets, plans to raise its dividend payout to 60% of net profit in 2025, up from 57% in 2024, subject to usual factors including regulatory approval, CEO Tan Sri Tay Ah Lek announced at the AGM. Green Packet Bhd has proposed a share capital reduction to offset RM340mn in accumulated losses. Kerjaya Prospek Group Bhd has secured a RM162mn building contract from Majestic Gen Sdn Bhd for a project in Johor Bahru. Genting Malaysia Bhd 's proposed USD41mn acquisition of the remaining 51% stake in Genting Empire Resorts LLC from the Lim family's Kien Huat Realty III Ltd—giving it full control of loss-making Empire Resorts Inc—has drawn scrutiny from Bursa Malaysia. Malaysian Genomics Resource Centre Bhd has proposed a private placement exercise to raise up to RM2.5mn, alongside a reduction of its issued share capital by RM42mn, as part of its efforts to improve its financial position and fund working capital. TechStore Bhd's wholly owned subsidiary, Tech-Store Malaysia Sdn Bhd, has secured a RM15.9mn contract from the Home Affairs Ministry. PEOPLElogy Bhd, which provides consultancy services and training, saw its IPO oversubscribed by 0.24 times. HHRG Bhd has dismissed CEO Fong Chee Khuen for serious misconduct and abuse of authority, following his suspension on April 7, 2025, over concerns about his financial transactions and personal conduct. MNC Wireless Bhd announced on Thursday that it had received a formal notice regarding the resignation of its auditor, Chengco PLT, effective immediately, prompted by uncertainties concerning the registration status with the Audit Oversight Board of the Securities Commission Malaysia. Pentamaster Corp Bhd 's net profit slipped by one-third to RM13.1mn for the 1QFY25, from RM19.4mn a year ago due to lower revenue and changes in sales mix. Pavilion Real Estate Investment Trust reported a 5% rise in net property income to RM142.8mn for the 1QFY25 — from RM136.0mn a year earlier — driven by higher rental income from Pavilion Bukit Jalil and Elite Pavilion Mall. Berjaya Food Bhd 's net loss widened to RM37.2mn for the 3QFY25 – marking its sixth straight quarterly loss – compared to RM29.8mn a year earlier, mainly due to weaker performance from its Kenny Rogers Roasters operations.
The Star
05-05-2025
- Business
- The Star
Trading ideas: CIMB, SunREIT, PLB, Capital A, GenM, MN, TCS, Exsim, OB, Sentoria, Farm price, Jentayu, Ramssol
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. CIMB Group Holdings Bhd's wholly owned CIMB Bank Bhd will acquire 16 properties it currently leases from the Employees Provident Fund for RM209.8mn in cash. Sunway Real Estate Investment Trust is selling the Sunway University and college campus to Sunway Education Group's Sunway College (KL) Sdn Bhd for RM613mn cash as part of its asset recycling strategy. PLB Engineering Bhd is selling five land parcels in Tasik Gelugor, Penang, totaling 199.5 acres, to property developer Telaga Raya Sdn Bhd for RM48.0mn cash. Capital A Bhd 's auditors Ernst & Young PLT issued an unqualified opinion on its 2024 accounts but flagged doubts about its ability to continue operating, citing uncertainties surrounding the pending sale of Capital A's stakes in AirAsia Aviation Group and AirAsia Bhd to AirAsia X Bhd . Genting Malaysia Bhd is going to gain full control of loss-making Empire Resorts Inc in a USD41mn deal from the Lim family's Kien Huat Realty III Ltd, by acquiring the remaining 51% stake in Genting Empire Resorts LLC that it does not own. MN Holdings Bhd said its joint venture with Protech Builders Sdn Bhd has secured a sub-contract worth RM50.0mn for the mechanical, electrical and plumbing fit-out works of a data centre. TCS Group Holdings Bhd 's unit, TCS Construction Sdn Bhd, has received DBKL's approval to resume construction on the J. Satine mixed development in Wangsa Maju. Exsim Hospitality Bhd's wholly-owned subsidiary Exsim Concepto Sdn Bhd has received a sub-contract from Nestcon Builders Sdn Bhd for interior fit-out works to apartment units for RM17.2mn. OB Holdings Bhd has signed two letters of intent with CSPC Innovation Pharmaceutical Co Ltd and CSPC Weisheng Pharmaceutical (Shijiazhuang) Co, subsidiaries of Hong Kong-listed CSPC Pharmaceutical Group Ltd. Bursa Malaysia Securities has warned that Sentoria Group Bhd 's shares will be suspended if it fails to submit its annual report for the financial year ended Dec 31, 2024, by May 8, 2025. Farm Price Holdings Bhd has proposed to undertake a bonus issue of up to 225mn warrants, on the basis of one warrant for every two shares held by shareholders. Jentayu Sustainables Bhd has re-designated chairman Datuk Beroz Nikmal Mirdin as managing director effective immediately as part of a management restructuring exercise. Ramssol Group Bhd saw its net profit rise 40% to RM5.8mn for the 1QFY25, from RM4.2mn a year ago, driven by higher sales of human capital management solutions in Malaysia and Thailand.
