MISC Bhd, via subsidiaries Polaris LNG Three Pte Ltd and Polaris LNG Four Pte Ltd, has secured long-term time charter contracts with SeaRiver Maritime LLC for two more liquefied natural gas (LNG) carriers. The agreement pushed the total number of contracts with SeaRiver to four LNG carriers. MISC said through the subsidiaries, it had also signed an agreement with a reputable shipbuilder for the construction of the LNG carriers in South Korea. (NST)

Gamuda Land, the property arm of Gamuda Bhd, has plans to launch an average of five new overseas projects per annum from the financial year 2023 onwards. Gamuda Land chief executive officer Ngan Chee Meng said in its five-year plan, it would likely achieve 25 projects in total given the growing population and prospects in countries where it currently operates, including Australia, the United Kingdom (UK), Vietnam and Singapore. (TheStar)

Ageson Bhd's indirect wholly-owned subsidiary Ageson Retails Sdn Bhd has entered into a memorandum of understanding with Koperasi Belia Nasional Bhd (Kobena) to sell 4,000 units of vending machines and/or retail fridges equipped with Internet-of-Things systems and solutions. It said in filing with Bursa Malaysia the parties intend to enter into a sales and purchase agreement with a contract value of RM120mil, whereby Kobena will purchase the products from Ageson for RM30,000 each. (TheStar)

Affin Bank Bhd is optimistic about its growth prospects for the second half of 2022 with its upgraded digital strategy that provides enhanced support to customers' needs on a 24/7 basis. President and group chief executive officer Datuk Wan Razly Abdullah said the bank has invested over RM300 million this year to upgrade its information technology systems and high technologies, putting the bank at the forefront in terms of digitalisation, while supporting customers and capturing business in the market amidst global crisis. (TheStar)

Former Inspector-General of Police (IGP) Tan Sri Dr Khalid Abu Bakar is the latest this month to join the board of Datasonic Group Bhd — the company that supplies national ID MyKad and passports to the Malaysian government. The 65-year-old, who was made the 10th IGP in May 2013 and later Special Envoy to the Prime Minister in September 2017, has been appointed as an independent and non-executive director of Datasonic, according to a bourse filing. (TheEdge)

Loss-making Nexgram Holdings Bhd is acquiring Wings By Croske Resort Langkawi for RM90 million, to be paid via issuance of preference shares by its subsidiary Medic Asset Group Sdn Bhd (MAG). MAG will acquire the 218-room resort from its 80% shareholder Croske Hotels Sdn Bhd and Flyboys Club Sdn Bhd, which owns the remaining stake, via the issuance of one million redeemable convertible preference shares (RCPS) at RM90 apiece, Nexgram said on Thursday. (TheEdge)

Shares of Malaysia Pacific Corp Bhd will be delisted from Bursa Malaysia on Oct 4, after Bursa Securities dismissed its appeal following the rejection of its application for another deadline extension to submit a new regularisation plan. The company, who fell into Practice Note 17 (PN17) status back in 2014, had applied for another six-month extension for the submission. (TheEdge)

Genting has emerged as a strong contender to unseat an incumbent Macau casino operator for a new licence, analysts and executives say, unleashing possibly the biggest shakeup in the world’s largest gambling hub in over two decades. Only six slots will be available for the seven applicants, Macau’s government has said, as Genting Malaysia Bhd goes head-to-head with the six concessionaires Sands China, Wynn Macau, Galaxy Entertainment, MGM China, Melco Resorts and SJM Holdings as their concessions expire at year-end. (TheEdge)

AmBank Group has taken proactive measures to reduce its carbon footprint in electricity consumption by installing Light-Emitting Diode (LED) lighting in four of its main buildings in the Klang Valley, in line with its sustainability agenda. Group chief financial officer and chairman of AmBank Group Energy Management Forum Jamie Ling said the main buildings were Menara AmBank, Bangunan AmBank Group, Wisma AmFirst and Damansara Fairway 3. (NST)

Aeon Credit Service (M) Bhd's business momentum can be sustained despite reporting lower earnings in its first half of financial year 2023 (1HFY23). RHB Research said Aeon Credit's first half net profit of RM234 million came in at 62 per cent of its full-year estimates. While Aeon Credit's asset quality might be beginning to show signs of stress, the research firm took comfort in the strong loan growth and effective cost controls. (NST)

Maybank Investment Bank Bhd expects AirAsia parent Capital A Bhd's return to profitability to be delayed by a year to financial year 2024 (FY24) due to slower than expected redeployment of aircraft. The firm said challenges still remained in the post-Covid environment as the ringgit had weakened past RM4.50 against the US dollar. (NST)

Hiap Teck Venture Bhd's financial year ended July 31, 2022 (FY22) core net profit of RM194.1 million came in within Hong Leong Investment Bank Bhd's (HLIB) expectation, accounting 97 per cent of its estimate. The firm said while the results were in line with expectations, it cut Hiap Teck's FY23-FY24 core net profit forecasts by 64.7 per cent and 36.2 per cent. (NST)

CJ Century Logistics Holdings Bhd is able to increase its nationwide presence post-acquisition of a 100 per cent stake in CJ Korea Express Malaysia Sdn Bhd (CJKX) via the sharing of key logistics hubs and networks, MIDF Research said. The firm said this was so as the north and east coast regions of Peninsula Malaysia were previously underserved. (NST)

Sime Darby Bhd’s move to distribute China-based BYD’s cars in Malaysia will reinforce its position as the leader in electric vehicle (EV) offerings in the country. BYD has announced plans to set up a facility in Thailand to produce 150,000 passenger cars annually from 2024 for domestic consumption and exports to regional countries as well as Europe. (TheStar)

Press Metal Aluminium Holdings Bhd’s hedging strategy may help it partially negate the lower prices of aluminium today. Despite low London Metal Exchange aluminium inventories, which is at its lowest levels since 2010, aluminium prices continue to correct themselves amid tightening of global monetary policies. (TheStar)

Dairy producer Farm Fresh Bhd has obtained the state authority's consent for the transfer of a freehold industrial land in Bandar Baru Enstek, Negeri Sembilan to the group to set up a manufacturing hub. (TheEdge)

IOI Corp Bhd group managing director and chief executive Datuk Lee Yeow Chor said on Friday (Sept 30) the oil palm planter expects its financial performance in current financial year ending June 30, 2023 (FY23) to be healthy "albeit not as good as" its FY22 performance as it weighs external factors including the Russia-Ukraine war and as crude palm oil (CPO) prices decline from historical high levels. (TheEdge)

KAF Seagroatt & Campbell analyst Elleena Soraya has raised the recommendation on Scientex Bhd to "buy" from "hold". KAF's target price (TP) for Scientex shares was set to RM4.15, which implies a 20% increase from the stock's last price. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 30 Sep 2022

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