Trading ideas: Capital A, UUE, Sunway REIT, Encorp, Benalex, KNM, Destini, Kumpulan Kitacon
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.
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