Bursa Malaysia Bhd has unveiled Malaysia’s first profiling platform featuring and facilitating better connections between representatives of dealers and investors, beyond traditional channels. In a statement today, the exchange said the platform, known as Bursa Remisier Acquisition Hub (Bursa Reach), is a new offering that provides investors greater access to investment opportunities. (TheStar)

Building construction services provider Siab Holdings Bhd has signed an underwriting agreement with M&A Securities and NewParadigm Securities Sdn Bhd for the group's rights issue with warrant exercise, aiming to raise RM91.98 million. The rights issue with warrant is part of Siab's proposed private placement to raise RM103.98 million, announced last year. Of this amount, RM12 million has already been raised, completed on Dec 28 last year through a special share issue of 100 million shares to third-party investors. (TheEdge)

Pekat Group Bhd's wholly-owned subsdiary Pekat Teknology Sdn Bhd has entered into negotiations with Apex Power Industry Sdn Bhd for the potential acquisition of equity in EPE Switchgear (M) Sdn Bhd. In a statement, Pekat said the two parties have inked a memorandum of understanding (MoU) to deal exclusively until June 30, 2024, for the purchase of equity in EPE and the purchase consideration, subject to a due diligence review to be undertaken by Pekat Technology on the target company. (TheStar)

CIMB Securities has increased their loss projections for Lotte Chemical Titan Holdings (LCT) for the financial years 2024, 2025, and 2026 (FY24/FY25/FY26) by 18 per cent, 36 per cent, and 166 per cent respectively. According to the firm, the adjustment accounts for higher interest costs due to a RM0.6 billion loan for working capital, a RM6.7 billion capital expenditure for the LINE project following the commissioning of a new plant, and increased losses from associates. (NST)

Sime Darby Plantation Bhd (SDP) is making a foray into green industrial park, starting with the proposed development of the Kerian Integrated Green Industrial Park (KIGIP) in Perak. The world largest palm oil producer by acreage said the group and its largest shareholder Permodalan Nasional Bhd (PNB) intend to collaborate in this 1,000-acre development, strategically located in SDP’s Tali Ayer Estate in Perak. A joint proposal was submitted to the Ministry of Investment, Trade and Industry (Miti) in February. (TheEdge)

Kuala Lumpur Kepong Bhd (KLK) has halted the arrival of some 140 Nepal workers amid investigations into allegations of unethical recruitment practices in Nepal. In a note to investors Hong Leong Investment Bank Bhd research said KLK has temporarily halted the incoming arrival of workers from Nepal while the investigation into allegations of unethical practices are ongoing. (NST)

The recent contract win by Uzma Bhd with Sarawak Shell Bhd Sabah Shell Petroleum Company Ltd (SSPC) highlights the company's encouraging future as a major participant in the growing chemical supply sector. Uzma's position in the industry is further cemented by this deal, which it acquired through its subsidiary Malaysian Energy Chemical & Services SB (MECAS). The contract involves integrated production and integrity chemical supply. (NST)

T7 Global Bhd is poised to benefit from the anticipated resurgence in global industry capital expenditure (capex) amid rising crude oil prices, as outlined by financial services firm PhillipCapital. PhillipCapital emphasised T7's strategic advantage to capitalise on the expected revival of upstream oil and gas (O&G) activities in Malaysia, citing its diverse involvement in hook-up and commissioning (HUC), maintenance, construction, modification (MCM), and well plug and abandonment (P&A) services. (NST)

Ireka Corp Bhd's subsidiary, Ireka Development (Terengganu) Sdn Bhd (IDTSB), and its directors are facing legal action from the Employee Provident Fund (EPF) over unpaid contributions amounting to RM50,196. In its filing with Bursa Malaysia yesterday (May 6), Ireka said EPF is claiming the sum, which includes outstanding contributions from August to December 2023, as well as dividends and late payment charges. (NST)

Source: New Straits Times, The Edge Markets The Star 07 May 2024 

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