Latest news with #FongCheeKhuen
The Star
01-07-2025
- Business
- The Star
Trading ideas: GenM, Gamuda, RHB, Theta Edge, Reservoir Link, LFE, SCIB, MyEG, Sapura Energy
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Genting Malaysia Bhd announced its wholly-owned subsidiary, Genting New York LLC, had submitted a bid for a commercial casino licence to the New York State Gaming Commission on 27 June 2025 in response to the request for proposal. Gamuda Bhd has secured its ninth project in Taiwan with a RM3.7bn contract to construct the wharf and connecting roads for the Kaohsiung Port Intercontinental LNG Terminal. RHB Bank Bhd has completed its fifth Senior Sukuk Murabahah issuance, amounting to RM900.0mn in nominal value, under its Sukuk Murabahah Programme, and its first Tier 2 Notes issuance of RM500.0mn in nominal value under the Note Programme. Theta Edge Bhd has secured a RM87.9mn contract for the construction of fibre optic infrastructure along Petronas Gas Bhd 's pipeline right-of-way in Terengganu. Reservoir Link Energy Bhd has received a work order award from Petronas Carigali Sdn Bhd for the provision of annulus wash and cement assurance, which is expected to generate up to RM25.0mn annually until 2029. LFE Corporation Bhd has secured 4 contracts worth RM70.8mn for construction and material supply works in Cyberjaya and Ara Damansara. Sarawak Consolidated Industries Bhd plans to invest approximately RM57.6mn in a new precast concrete manufacturing plant at Demak Laut Industrial Park in Kuching. MyEG Services Bhd has announced that it will change its name to Zetrix AI Bhd, effective 9:00 a.m. on July 3. Its stock short name will be changed from MYEG to ZETRIX, while its stock code will remain unchanged. Bursa Malaysia Securities Bhd has approved Sapura Energy Bhd 's proposed regularisation plan to exit its Practice Note 17 status, following 4 deadline extensions. PMCK Bhd's initial public offering has been oversubscribed by 1.87 times for the Malaysian public portion, ahead of its listing on the ACE Market of Bursa Malaysia on July 9. Wang-Zheng Bhd reported that a fire broke out yesterday morning at the Rawang factory and warehouse of its wholly-owned subsidiary, Carefeel Cotton Industries (M) Sdn Bhd. Shin Yang Group Bhd is acquiring a parcel of leasehold land together with a warehouse building, measuring approximately 1.9 hectares in Kuching, Sarawak from Forescom Plywood Sdn Bhd for RM12.1mn. Singapore Exchange-listed precision engineering company UMS Integration Ltd has issued its prospectus for a secondary listing on the Main Market of Bursa Malaysia by way of introduction. HHRG Bhd 's wholly-owned subsidiary, HHRG Capital Sdn Bhd, which operates a licensed money-lending business, has lodged a police report against the company's former CEO, Fong Chee Khuen. Dagang Nexchange Bhd has signed a MoU with Sinohydro Corporation (M) Sdn Bhd to explore and develop key initiatives in Malaysia's growing renewable energy sector. Ni Hsin Group Bhd has entered into a Heads of Agreement to acquire Hy-Fresh Group, one of Malaysia's largest fully integrated halal-certified poultry businesses. Yinson Holdings Bhd 's net profit dropped 43.4% YoY to RM115.0mn in 1QFY26, from RM203.0mn a year earlier, largely due to lower construction progress billings and higher administrative expenses. Marine & General Bhd 's net profit dropped 2.8% YoY to RM17.6mn in 4QFY25, from RM18.1mn a year earlier, mainly due to lower reversal of vessel impairment recorded in the quarter under review. Sapura Energy Bhd reported a net loss of RM478.0mn for 1QFY26, compared to a net profit of RM82.1mn a year earlier, due to higher costs from ongoing engineering and construction projects.
The Star
22-04-2025
- Business
- The Star
Trading ideas: CIMB, PMM, Astino, Cahya Mata, WCE, Salcon, GDB, Ho Hup, MMHE, HHRG, Paradigm-REIT, KIP-REIT
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. CIMB Group Holdings Bhd has committed RM10bn in funding facilities to drive economic integration and unlock cross-border opportunities in the Johor-Singapore Special Economic Zone. Panasonic Manufacturing Malaysia Bhd announced that gas supply to both its manufacturing plants in Shah Alam had fully resumed as of yesterday, following the earlier disruption caused by the gas pipeline incident on April 1. Astino Bhd is to acquire an 85,615.3-sq-m land in Seberang Perai Selatan, Penang, for RM30.4mn. Cahya Mata Sarawak Bhd has clinched a RM550mn contract from the Sarawak state government to construct the Borneo Convention Centre Kuching II, in Kuching, Sarawak. WCE Holdings Bhd 's 80%-owned subsidiary West Coast Expressway Sdn Bhd has received the Malaysian government's approval to accept a term loan facility of up to RM1.3bn from Bank Pembangunan Malaysia Bhd. Salcon Bhd said it is pushing to grow its existing healthcare and renewable energy segments and is proposing to include the two into its principal activities. GDB Holdings Bhd said it has secured a court enforcement order on its RM59.3mn adjudication award against KSK Land Sdn Bhd's unit Damai City Sdn Bhd, over outstanding payments for construction work carried out on the 8 Conlay project. Practice Note 17 company Ho Hup Construction Co Bhd is seeking a court order to facilitate the restructure of its debt after defaulting on loan facilities last week. Malaysia Marine and Heavy Engineering Holdings Bhd 's wholly-owned unit received a notice of arbitration from its subcontractor Haumea Offshore Sdn Bhd in relation to the Bokor Phase 3 redevelopment project in Sarawak. HHRG Bhd has extended chief executive officer Fong Chee Khuen's suspension by two more weeks until May 4, pending the outcome of an internal investigation over alleged misconduct. Paradigm Real Estate Investment Trust has signed an underwriting agreement with three investment banks ahead of its proposed listing on the Main Market of Bursa Malaysia. KIP Real Estate Investment Trust recorded a 35.1% YoY increase in its net property income to RM13.8mn for the 3QFY25.
