Tuesday 27 Feb 2024
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KUALA LUMPUR (Oct 10): Based on corporate announcements and news flow today, companies that will be in focus on Friday (Oct 11) may include: Malaysia Airports Holdings Bhd, Cypark Resources Bhd, Kejuruteraan Asastera Bhd, Axiata Group Bhd, Careplus Group Bhd, Plastrade Technology Bhd and MISC Bhd.

Malaysia Airports Holdings Bhd (MAHB) said the number of passengers passing through the 39 airports it manages in the country in September rose 7.6% year-on-year (y-o-y), thanks to an increase in the average load factor for both domestic and international sectors.

MAHB said the impact from the haze was minimal. The airport operator handled 8.35 million passengers in September compared with 7.76 million passengers a year earlier.

Cypark Resources Bhd has partnered with three parties to jointly develop renewable energy projects, consisting of two solar photovoltaic and another waste-to-energy (WTE) projects.

In the first MoU, Cypark Resources is partnering with Negeri Sembilan Corporation, to jointly develop 50MW solar photovoltaic projects in Negeri Sembilan, under the Net Energy Metering Scheme, with the adoption, execution and implementation of supply agreement renewable energy (SARE).

Cypark Resources’ second MoU is with Menteri Besar Kedah Incorporated (MBI Kedah) to jointly develop a 100MW solar photovoltaic projects in Kedah. The MoU is effective for one year and may be extended for a further period as agreed.

Its third MoU is a collaboration with Petronas Chemicals Group Bhd for the development of solid waste modular advanced recovery and treatment (SMART) waste-to-energy (WTE) projects in Malaysia.

Kejuruteraan Asastera Bhd plans to raise up to RM27.09 million via a private placement to third-party investors to be identified later to fund the expansion plan of its customised energy efficiency solutions business and future acquisitions.

The proposed placement entails the issuance of up to 70.57 million new shares, representing up to 20% of the total number of its issued shares.

Axiata Group Bhd will refrain from undertaking mergers and acquisitions in the near term as Malaysia’s biggest wireless carrier looks to improve its operations following the collapse of talks for a merger with Telenor ASA’s Asian business, people with knowledge of the matter said.

The decision was made at a board meeting last week. Axiata won’t proceed to formal negotiations for any approach for its US$3 billion wireless tower business or its Indonesian telecommunications operations at least before the end of the year, the people said.

Careplus Group Bhd is spending RM24 million to gain full control of its loss-making subsidiary Careglove Global Sdn Bhd, which makes rubber gloves for the Brazilian market. It is buying the remaining 49.99% stake in Careglove from AJJ Holding Inc, whose ultimate shareholder is Renato Silveira Joiozo.

Under the sale agreement, Careglove must declare RM23.41 million as dividends to its shareholders, of which the total dividend payable to AJJ will be RM11.7 million. Careplus intends to finance the acquisition using internal funds.

Plastrade Technology Bhd's shareholders removed Tee Yen Chong from his position as managing director at an extraordinary general meeting convened today. On Aug 16, Plastrade announced its board has decided to suspend Tee from his executive role for two months, pending an internal investigation then. The outcome of the investigation is not publicly known as of writing.

MISC Bhd has secured two time charter parties (TCPs) from ExxonMobil Corp with an estimated combined value of US$711 million. Its vessel-owning entities, namely Polaris LNG One Pte Ltd (Polaris 1) and Polaris LNG Two Pte Ltd (Polaris 2), had signed the TCPs with ExxonMobil's unit SeaRiver Maritime LLC for the time charter of two newbuild liquefied natural gas carriers for operations in international waters.

The vessels, which will be chartered by SeaRiver for a firm period of 15 years are expected to commence in the first quarter of 2023.

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