Ho Hup Construction Co Bhd intends to undertake a private placement exercise involving one-tenth of its share base, at a 10% discount to raise RM12.4 million, most of which will be used to pay its subcontractors.

Frankly Speaking: Private placement at a discount unfair to minorities

Last week, Sunway Bhd announced that its 70%-owned unit Umech Land Sdn Bhd had signed a joint development agreement with Penang Development Corp (PDC) to co-develop a 558.96-acre parcel in Byram, Seberang Perai Selatan, Penang.

Frankly Speaking: What’s behind the deal?

Syarikat Perumahan Negara Bhd (SPNB), owned by Minister of Finance Inc (MoF Inc), has been embroiled in multiple lawsuits of late.

Frankly Speaking: SPNB lawsuits cast spotlight on weak financials

Penang-based SAM Engineering & Equipment (M) Bhd (SAM) is one of the few companies that have broken into the supply of parts for the highly regulated aero­space industry.

Frankly Speaking: SAM’s audacious expansion

Prime Minister Datuk Seri Anwar Ibrahim was reported as saying at a Huawei event that the government’s decision to have a dual wholesale network (DWN) will allow the Chinese telecommunications giant to play a role in Malaysia’s 5G rollout.

Frankly Speaking: Will Huawei finally get into 5G?

Handal Energy Bhd has been without a substantial shareholder since Aug 9. The company has seen boardroom changes, however, and proposed a placement that would result in its existing shareholding rising 40% and the issuance of warrants.

Frankly Speaking: Who is in control at Handal?

Last week, Penang-based Ewein Bhd announced that it was buying a 3.9ha piece of vacant freehold land in Seberang Perai Tengah, Penang, from two individuals, Tan Hong Soon and Tan Kean Hock, for RM39.77 million, which works out to about RM94 psf.

Frankly Speaking: Ewein’s purchase needs clarity

Opcom Holdings Bhd’s purchase of an 18.03% stake in Binasat Communications Bhd seems to suggest that there could be more to what has been announced.

Frankly Speaking: Opcom’s baffling buy into Binasat

Indonesia’s parliament approved a US$216 billion budget for 2024 last week — the last budget under President Joko Widodo (Jokowi), who is stepping down next year after two terms in power.

Frankly Speaking: Petrol subsidy cuts: If others can, why can’t we?

Last Tuesday, Dataprep Holdings Bhd and five of its directors were reprimanded for breaching listing requirements over the company’s reply to an unusual market activity (UMA) query in March 2021.

Frankly Speaking: Bursa disclosures are a serious matter

Last Thursday (Sept 14), Bursa Malaysia Securities Bhd publicly reprimanded and imposed a fine of RM350,000 on RHB Investment Bank Bhd (RHB IB) for two breaches of the listing requirements, which led to the rejection of the proposed initial public offering (IPO) of an ACE Market applicant, for which the bank was the sponsor and principal adviser.

Frankly Speaking: Costly oversight

Last week, Kota Melaka member of parliament Khoo Poay Tiong raised the issue of some employers’ inability to receive foreign worker permits after paying for the permit extension on My EG Services Bhd’s (MyEG) website. Even worse, they also face problems seeking a refund.

Frankly Speaking: Silence is not golden

When debt-laden Boustead Holdings Bhd (BHB), which is now wholly owned by Lembaga Tabung Angkatan Tentera (LTAT), decided to sell a stake in its plantation subsidiary, it undertook a competitive process.

Frankly Speaking: Keep politics out of BPlant deal

In the mid-term review of the 12th Malaysia Plan (12MP), Prime Minister Datuk Seri Anwar Ibrahim shared 17 measures which are slated to be implemented through 71 strategies, all aimed at stimulating the country’s economic development. In a nutshell, the broad-based plan aims to increase the expenditure ceiling by RM15 billion to RM415 billion, specifically for the reallocation of subsidies covering basic needs, among others.

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