Boustead Heavy Industries Corporation Bhd (BHIC) has further extended the conditional period relating to its disposal of a 20.77 per cent stake in Boustead Naval Shipyard Sdn Bhd (BNS) to the Minister of Finance (Incorporated) to Jan 31, 2024. According to a Bursa Malaysia filing today, BHIC and the purchaser have mutually agreed to extend the third conditional period of the share sale agreement (SSA) for a further period as the parties require additional time to fulfil the conditions precedent. (TheStar)

The listing of the shares of Cnergenz Bhd will be transferred from the ACE Market of Bursa Malaysia to the Main Market under the “technology” sector with effect from 9am on Jan 5, 2024. In a filing with Bursa Malaysia, the electronics manufacturing solutions provider said its stock short names and stock numbers will remain unchanged. (TheStar)

AGX Group Bhd, a third-party logistics service provider preparing to go public on the ACE Market of Bursa Malaysia, has signed an underwriting agreement with TA Securities Holdings Bhd to underwrite a total of 21.65 million new shares. AGX's upcoming initial public offering (IPO) comprises a public issue of 96.5 million new shares, and an offer for sale of 30 million existing ordinary shares. (TheEdge)

Being a distinctive player in the renewable energy market, Kinergy Advancement Bhd (KAB) is making a bold leap into the telecommunication infrastructure industry, driven by the implementation of 5G technology that demands substantial infrastructure expansion. Executive deputy chairman and group managing director Datuk Lai Keng Onn said there is a pressing need for a denser network of towers given the smaller coverage radius of 5G towers relative to 4G. (NST)

Bursa Malaysia-listed Straits Energy Resources Bhd said its subsidiary Tumpuan Megah Development Sdn Bhd is set to enter the marine biofuel trading and bunkering industry in the first quarter of 2024, after it was certified by the International Sustainability and Carbon Certification (ISCC EU) scheme. The breakthrough comes as the maritime industry accelerates its transition to low-carbon alternative fuels, such as sustainable biofuels, as part of the global decarbonisation agenda. (TheEdge)

LYC Healthcare Bhd is buying out its Singapore joint-venture (JV) partner's 49% stake in a 67-bedroom confinement care facility in Johor Bharu for RM4.5 million cash, to be paid via monthly instalments of RM300,000. The facility is owned by LYC SOG Mother & Child Sdn Bhd, which is 51%-owned by LYC Healthcare and 49% by SOG Mummy & Baby Centre Pte Ltd, a wholly-owned unit of SOG Health Pte Ltd in Singapore. (TheEdge)

Syarikat Takaful Malaysia Keluarga Bhd(Takaful Malaysia) has declared an interim single-tier dividend of 14.00 sen per ordinary share, amounting to RM117.22mil for the financial year ended Dec 31, 2023. Takaful Malaysia, in a statement, said the dividend would be paid to shareholders on Feb 2, 2024. (TheStar)

Loss-making oil bunkering services provider Fast Energy Holdings Bhd shot up to a near one-year high on the first trading day of the year as the ACE Market-listed stock surged as much as 65% in early trade, before paring gains. At 11.51am, the penny stock was trading five sen or 38% higher at 18 sen, valuing the company at RM38.75 million. Fast Energy was the most actively traded stock across all Bursa Securities on Tuesday morning with 114.25 million shares traded, far higher than its five-day moving average (MA) of 4.54 million shares, 20-day MA of 1.43 million shares and 90-day MA of 942,062 shares. (TheEdge)

There could be a delay in the commercial operation date (COD) of Cypark Resources Bhd's large solar scale (LSS) 2 and LSS3 projects. PublicInvest Research noted that although Cypark retained its completion date for the LSS2 Danau Tok Uban and LSS3 Merchang plants by December 2023, it has yet to declare the COD. (NST)

Source: New Straits Times, The Edge Markets The Star 02 January 2024

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