KUALA LUMPUR (July 22): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday: 

Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT) has signed a memorandum of understanding with Menteri Besar Selangor Incorporated (MBI Inc) to advance the development and marketing of Zone 3 and Zone 4 at Sultan Abdul Aziz Shah Airport in Subang (Subang Airport). The development of these zones, designated for business aviation and aerospace segments under the Subang Airport Regeneration Plan (SARP) would include the creation of a new area dedicated to business aviation hangars and the amplification of the aerospace ecosystem catering to aerospace manufacturers, assemblers and component maintenance, repair and operations operators. — Malaysia Airports, Menteri Besar Selangor Incorporated ink MOU to develop Subang Airport's Zones 3 and 4 

Separately, MAHB saw a 40% year-on-year increase in international traffic in the first half of 2024, fuelled by the addition of six new airlines; Cambodia Airways, Flydubai, Iraqi Airways, Juneyao Airlines, Thai Lion Air, Turkmenistan Airlines. These airlines contributed to total passenger movements of 45 million in 1H2024, reaching 87.9% of pre-pandemic levels from the same period in 2019. — MAHB posts 40% rise in 1H international traffic on inclusion of six airlines

Consumer finance company RCE Capital Bhd (KL:RCECAP) proposed a one-for-one bonus issue, involving the issuance of 764.9 million new bonus shares. The entitlement date will be determined after all relevant approval for the bonus issues have been obtained. Based on the five-day volume-weighted average price of the shares up to June 30, 2024, the theoretical ex-bonus share price would be RM1.41. — RCE Capital proposes one-for-one bonus issue

Crescendo Corp Bhd (KL:CRESNDO) has proposed the subdivision of every one of its shares into three shares to improve the trading liquidity of the property developer's shares. Based on the last transacted market price on July 3 of RM3.63, the theoretical adjusted reference share price per subdivided share upon the completion of share split will be RM1.21. Crescendo also proposed the establishment of an executive share option scheme of up to 10% of its share at any point in time within the five-year of its enforcement period. — Crescendo proposes three-to-one share split

Cable support system provider United U-Li Corp Bhd (KL:ULICORP) has declared a third interim dividend of two sen per share for the financial year ending Dec 31, 2024 (FY2024). This brings its year-to-date dividends to six sen per share for FY2024 against eight sen per share in FY2023. — United U-Li declares third interim dividend for FY2024

Eversendai Corp Bhd (KL:SENDAI) has teamed up with a unit of Abu Dhabi-based Emirates Steel Arkan Group (ESA), for the development of the Trojena Ski Village project in Saudi Arabia. It is collaborating with Emirates Steel, a unit of ESA, which will supply premium steel beams for the construction of the Trojena Ski Village. The project, which is being developed to host the Asian Winter Games in 2029, is part of a series of Saudi state-endorsed construction projects dubbed NEOM. Eversendai is undertaking structural steel erection works for Trojena. — Eversendai seals Abu Dhabi-based partner to supply steel beams for Trojena Ski Village project

Grand Central Enterprises Bhd (KL:GCE), which operates hotels under the Grand Continental brand, has received a takeover offer worth RM90.62 million from its major shareholders as part of a delisting plan. Tan Chee Hoe & Sons Sdn Bhd and Hotel Grand Central Ltd — which together hold a 72.65% stake in Grand Central — are offering 46 sen per share to other shareholders. The offer price represents a premium of 28% from the last closing price. — Grand Central Enterprises gets delisting proposal, exit offer at 46 sen per share

YX Precious Metals Bhd (KL:YXPM) has secured approval from the Securities Commission Malaysia for its transfer to the Main Market of Bursa Securities. It said since its listing on the ACE Market, the group has consistently grown and strengthened its market position, and the transition to the Main Market will provide higher visibility and recognition, helping to access new growth opportunities. — YX Precious Metals gets SC nod for transfer to Main Market