UMW Holdings Bhd is selling 8.99 hectare industrial leasehold land within the UMW High Value Manufacturing Park in Serendah, Selangor to Perusahaan Otomobil Kedua Sdn Bhd (Perodua), in a related party transaction worth RM52.27 million. UMW's wholly-owned subsidiary, UMW Development Sdn Bhd (UMWD), will be responsible for selling the land to Perodua's wholly-owned unit, Perodua Sales Sdn Bhd. (NST)

EcoFirst Consolidated Bhd (EcoFirst) has awarded a RM389 million contract to China State Construction Engineering (M) Sdn Bhd for the superstructure works of serviced apartment KL48 in Chan Sow Lin, Sungai Besi. “This partnership with China State Construction Engineering marks a significant step toward realising our vision for KL48... This collaboration is not just a contract; it is a shared vision, a fusion of minds and expertise that aims to redefine industry standards,” said EcoFirst acting deputy chief executive officer Wilbert Goh. (TheEdge)

Kinergy Advancement Bhd (KAB) has been appointed as a sub-contractor to undertake electrical, telephone, and extra low voltage (ELV) services for the M Nova residential development in Kepong, Kuala Lumpur, worth RM31.04 million. In a bourse filing on Tuesday, the one-stop sustainable energy and engineering solutions specialist said that it had accepted a letter of award (LOA) issued by Myvilla Development Sdn Bhd, a subsidiary of property developer Mah Sing Group Bhd, for the appointment. (TheEdge)

Building support services provider KJTS Group Bhd has inked an underwriting agreement with Hong Leong Investment Bank Bhd (HLIB) for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia. The IPO involves the issuace of 218.03 million new ordinary shares, representing 31.69% of KJTS’s enlarged number of issued shares. This includes a retail offering of 49.4 million new ordinary shares (7.18% of enlarged issued shares) and an institutional offering of 168.63 million new ordinary shares to institutional and selected investors (24.51% of enlarged issued shares), it said in a statement. (TheEdge)

Maybank and Kuala Lumpur Kepong Bhd (KLK) have set up KLK’s first sustainability-linked loan (SLL) of RM500mil for the group’s general working capital requirements. Maybank, as the sole sustainability structuring adviser, had structured the SLL to align KLK’s financial strategy with the group’s commitment to environmentally and socially responsible practices. (TheStar)

Genting Bhd's 52.6 per cent-owned Genting Singapore is expanding the hotel capacity at Resorts World Sentosa (RWS) by over 40 per cent in order to capitalise on the post-pandemic tourism that caused hotel room rates in the Lion City to reach all-time highs this year. Genting Singapore intends to increase its investment at RWS by an additional S$2.3 billion. (NST)

Kenanga Research has maintained a cautious outlook for Pharmaniaga Bhd as the company guided for no further provisions going forward. Pharmaniaga has a negative shareholders' equity of RM264 million as at Sept 30 this year, impeding its ability to give out dividends. (NST)

TA Securities has upgraded Malaysia Airports Holdings Bhd (MAHB) to “buy” at RM7.08 with an unchanged target price of RM7.85 based on unchanged discount rate of 12%. In a note on Tuesday, the research house said the recent selling pressure appears o

Source: New Straits Times, The Edge Markets The Star 05 December 2023

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verdone. (TheEdge)