KUALA LUMPUR (Oct 14): Based on corporate announcements and news flow today, companies that may be in focus on Monday (Oct 17) could include: Malaysian Resources Corp Bhd (MRCB), Damansara Realty Bhd (DRealty), NWP Holdings Bhd, SMTrack Bhd, Hai-O Enterprise Bhd, Metronic Global Bhd, MNC Wireless Bhd and MMC Corp Bhd.

Malaysian Resources Corp Bhd (MRCB) has received indication of interest from two parties in relation to the acquisition of the Eastern Dispersal Link (EDL) Expressway in Johor.

The two parties, according to the construction outfit, are PLUS Malaysia Bhd and a client of ZJ Advisory Sdn Bhd.

"The company has received two indications of interest from PLUS Malaysia Bhd and ZJ Advisory Sdn Bhd's client to acquire our equity interest in MRCB Lingkaran Selatan Sdn Bhd," said MRCB.

MRCB Lingkaran Selatan is the concession holder of the EDL.

“We will make the necessary announcement as and when the terms of the proposed disposal have been finalised," it added.

Damansara Realty Bhd (DRealty) is forming a joint venture with Country Garden Holdings Co Ltd, one of China’s largest property developers, to develop a 53.08-acre freehold land parcel in Johor Bahru into an integrated township to be known as Central Park.

In a filing with Bursa Malaysia today, DRealty proposed to form a joint venture (JV) called DAC Properties Sdn Bhd, whereby its indirect wholly-owned subsidiary Damansara Realty (Johor) Sdn Bhd (DRJ) will own a 30% stake, while the remaining 70% will be held by Country Garden Management Sdn Bhd (CGM), which is wholly-owned by Hong Kong-listed Country Garden.

DAC Properties will develop Central Park over a six to eight-year period, starting from the fourth quarter of 2016. The township, located in the Tebrau district and five kilometres to the northwest of Johor Bahru city centre, is targeted at young homebuyers in Malaysia.

Besides residential units, DRealty said the project will also have commercial shop spaces and various amenities. The first phase will be launched in the first quarter of 2017.

NWP Holdings Bhd is venturing into the private charter air transport services business via the acquisition of a 30% stake in US-incorporated Aviation AI Inc (AAI).

The timber products manufacturer said its wholly-owned subsidiary, NWP Builder Sdn Bhd, has entered into an agreement with Datuk Ismail Hassan to acquire his 30% stake in AAI for US$1.5 million (RM6.3 million).

AAI is principally involved in provision of private charter air transport services. It owns a Gulfstream G-1159A aircraft.

In a filing with Bursa Malaysia today, NWP said it is exploring various business opportunities to increase its sources of income.

“AAI intends to provide private charter air transport services to public and private corporate customers, such as government agencies and commercial entities.

“As AAI was relatively recently-incorporated on June 30, 2016; it views business development and marketing activities as crucial for it to establish market presence and [to] grow the business,” said NWP.

Chang Chee Ching has been appointed as an executive director in track and trace solutions provider, SMTrack Bhd, effective today.

In a filing to the exchange today, SMTrack shared that Chang, 61, was formerly the group managing director of packaging materials manufacturer Bright Packaging Industry Bhd from 1998 to 2004.

He resigned from his position to focus on his business in March 2004.

He was then appointed as an executive director of NWP Holdings in December 2014, and later resigned to focus on his personal business in March 2016.

Prof. Datuk Dr Choo Yeang Keat, or more popularly known as Datuk Jimmy Choo, has been appointed as a non-independent and non-executive director of Hai-O Enterprise Bhd.

In a filing with Bursa Malaysia today, the multi-level marketing company shared that Choo's appointment will be effective Oct 15.

Choo, 67, is a Malaysian born fashion designer who is an international fashion icon.

He is renowned for his handmade women's shoes, which are sought after by the world's rich and famous.

Metronic Global Bhd, the largest shareholder of mobile applications and multimedia-related services company, MNC Wireless Bhd, with a 18.75% stake, is taking the latter’s board of directors to court.

In a filing with Bursa Malaysia today, Metronic said it has commenced legal action against MNC chairman Wong Kok Seong, chief executive officer Christopher Tan Chor How, executive director Pang Siaw Sian, non-independent non executive director Kua Khai Shyuan, and independent non executive director Thu Soon Shien

It also named MNC Wireless shareholder Datuk Seri Dr Pang Chow Huat in the suit. Chow Huat is also the founder and managing director of Sanichi Technology Bhd.

Metronic had filed an ex-parte injunction application on Oct 7 against the directors, for an injunction to restrain them from taking any steps to implement the proposed rights issue, establishment of an employee share option scheme and increase in the authorised share capital of MNC Wireless.

The injuction was also filed to restrain the company from amending MNC Wireless’s memorandum of association, and to restrain Chow Huat and his nominees or associates from subscribing to the rights issue and employee share option scheme.

The hearing of the injunction application was fixed on Oct 11, 2016; and dismissed by the High Court on Oct 12. Metronic said it will be applying for further interlocutory reliefs.

The Kuala Lumpur Regional Centre for Arbitration (KLRCA) has dismissed a counterclaim totalling RM171.75 million, made against MMC Corp Bhd's subsidiary, Pelabuhan Tanjung Pelepas Sdn Bhd (PTP).

MMC said the arbitral tribunal held that the causes of action relied on by Pioneer Smith (M) Sdn Bhd has no merits, and dismissed the company's counterclaim for losses and damages of S$42.75 million, RM17.55 million and US$5.97 million, a total of about RM171.75 million.

The tribunal also dismissed PTP's claim for a declaration that the sublease agreement of June 28, 2005 had been determined, as well as for vacant possession of the land subleased to Pioneer Smith.

The arbitral tribunal, however, allowed PTP's claim for outstanding rentals of RM2.64 million, being the agreed rentals of the land that had to be paid and which had not been paid from 2010 to 2015.

It also allowed PTP's claim for outstanding charges, in the sum of RM35,836.50.

To recap, PTP, which manages the port of Pelabuhan Tanjung Pelepas in Johor, had initiated arbitration claims against Pioneer Smith, a shipbuilder, in 2014.

Both parties had entered into a sublease agreement on June 28, 2005, in which PTP subleased a portion of the land at the Free Zone area of the port to Pioneer Smith.