MAHB, Gamuda, Inix, FGV, Pestech, Public bank, GDEX, Tasco, AirAsia, Serba Dinamik, G Capital


KUALA LUMPUR (December 8): Based on today’s company announcements and news, actions under consideration for Wednesday (December 9) may include the following: Malaysia Airports Holdings Bhd, Gamuda Bhd , Inix Technologies Holdings Bhd, FGV Holdings Bhd, Pestech International Bhd, Public Bank Bhd, GD Express Carrier Bhd, Tasco Bhd, AirAsia Group Bhd, Serba Dinamik Holdings Bhd and G Capital Bhd.

Malaysia Airports Holdings Bhd (MAHB) is expanding its personalized relief package to all of its retailers with up to 30% off rentals as of January 2021.

MAHB said the back-up package is available to its pre-existing retailers who have signed up for the commercial reset program with 100% rental discounts from July to December 2020.

In addition, he said airline partners would also receive discounts of up to 30% on aviation fees such as landing fees, plane parking, aerobridge and check-in counter, but not passenger service charges.

Gamuda bhd is targeting a new order book of around RM 10 billion for 2021, involving a combination of international and domestic infrastructure projects, according to group chief executive Datuk Lin Yun Ling.

Of the RM10 billion, 50% will come from Australia while the rest will come from Penang, Lin said, adding that Gamuda had submitted bids for three work packages in Australia, at A $ 2 billion (6.04 billion RM) each.

The group’s total confirmed order book stands at around 7 billion ringgit.

Inix Technologies Holdings Bhd today signed a memorandum of understanding with World Gloves International Group Sdn Bhd (WGI) to acquire a 51% stake in the latter, as part of its continued efforts to break into the lucrative rubber glove industry.

This should make Inix an international glove supplier, as the latex gloves and nitrile gloves produced by WGI are sold to the United States, Europe, the Middle East, India, Japan and South Korea. .

Newly appointed Inix chairman Tan Sri Syed Mohd Yusof Syed Nasir said entering the glove industry will create sustained and stable profits for the group following a significant increase in global demand for gloves due to of the Covid-19 pandemic.

The Federal Land Development Authority (Felda) is considering making a mandatory offer of RM 1.30 per share for FGV Holdings Bhd, because it strengthens the control of the plantation group as part of its transformation and restructuring plan for Felda and its related companies in order to strengthen its core business in the plantation sector.

Felda, which owns a 21.24% stake in FGV, increases its stake in the plantation group by purchasing the entire 6.1% stake held by Kumpulan Wang Persaraan (Diperbadankan) and a 7.78% stake owned by Urusharta Jamaah Sdn Bhd at RM658 million or RM 1.30 per share, which will bring Felda’s stake in FGV to 35.12%.

The offer price marks a premium of 2.36% or three sen from FGV’s last negotiated price of RM 1.27.

Pestech International Bhd won a RM 104.23 million contract in the Philippines for a 138 kV transmission line project.

Pestech said its wholly-owned subsidiary Pestech Sdn Bhd accepted the award notice from the National Grid Corp of the Philippines for the position related to the Nabas-Caticlan-Boracay 138 kV transmission line project.

As part of the project, Pestech will design, supply, install, test and commission two substations in Boracay and Nabas. The main focus of the project is to respond to the projected load growth of Caticlan and Boracay Island.

Public Bank Bhd today announced a free issuance of up to 15.53 billion shares on the basis of four new shares for each existing unit held in order to reward shareholders and improve the commercial liquidity of the bank’s shares.

Upon completion of the free issue, the bank’s share capital will remain at RM 9.42 billion, but the total number of shares will increase to 19.41 billion from 3.88 billion shares as of November 30.

GD Express Carrier Bhd (GDEX) and Tasco Bhd signed a Memorandum of Understanding (MoU) to improve logistics delivery services between end consumers in Malaysia with national and international destinations.

As part of the MoU, they will develop and organize joint marketing activities using the network and capabilities of both entities; leverage each other’s strengths and comparative advantages, in particular to advance the development of seamless connectivity between e-commerce platforms and other social commerce platforms with logistics fulfillment services; and enhance knowledge sharing with a view to fostering better coordination and synergies.

AirAsia Bhd Group Seeks to get final approval for its BigPay lending business by the first quarter of next year.

The group said it had already received interim approval from the Department of Housing and Local Government in mid-November to provide loans online under a community credit license.

The group added that it is also working on insurance and wealth management services which are slated to be rolled out in Malaysia next year, subject to regulatory approvals.

Serba Dinamik Holdings Bhd seeks to raise around 515.35 million ringgit through its private placement to repay its bank loans and partially finance its projects.

The group announced that it would issue up to 336.83 million new shares, representing 10% of its issued share capital of 3.37 billion shares as of November 30.

Of the estimated proceeds of RM 515.35 million, RM 100 million will be used to partially repay RM 626.99 million in loans. Meanwhile, an additional RM 100 million would be used for capital spending.

G Capital Bhd said it has received approval in principle from the central bank of Cambodia to establish a full-fledged commercial bank in the country with other partners.

The group said it has reached an agreement with two parties – the regional operations manager of the State Bank in Indochina, Datuk Phan Ying Tong and the Cambodian company ES Packaging Co Ltd – to jointly undertake the business.

G Capital said it will own no less than 20% of the issued shares in the new company, while Phan will have a 51% stake and ES Packaging a 20% stake. The remaining 9% interest will be held by an additional investor who will be identified by Phan or ES Packaging.

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