OCK Group Bhd has signed a shareholder agreement with Laos' Ministry of Finance to expand its presence in the country. Under the agreement, OCK will set up OCK Laos TowerCo Co Ltd, a joint venture (JV) company holding a majority stake of 70 per cent, while the remaining 30 per cent will be held by the Ministry of Finance of Laos. (NST)

Boustead Heavy Industries Corporation Bhd (BHIC) and Boustead Naval Shipyard Sdn Bhd (BNS) have been sued by two sub-contractors who were involved in the controversial littoral combat ship (LCS) project. In a filing to Bursa Malaysia yesterday, BHIC said the suit was filed at the Kuala Lumpur High Court on September 27 by its 51 per cent-owned Contraves Electrodynamics Sdn Bhd (CED) and Contraves Advanced Devices Sdn Bhd (CAD). (NST)

Hibiscus Petroleum Bhd has proposed a capital reduction involving a reduction of RM800mil of its issued share capital as well as a share buyback of up to 10% of its issued shares. The oil and gas production and exploration firm said the capital reduction would eliminate the company’s accumulated losses and hence enable it to have a retained earnings balance to facilitate the proposed buyback. — Bernama (TheStar)

Econpile Holdings Bhd has secured a contract worth RM24.6mil from Berjaya Construction Bhd to undertake the execution and completion of sub-structure work in Kuala Lumpur. In a filing with Bursa Malaysia yesterday, the infrastructure and property development firm said its wholly-owned subsidiary, Econpile (M) Sdn Bhd, had received a letter of appointment dated Sept 29 for the job. (TheStar)

Nestle SA is committed to investing more than one billion Swiss francs to make coffee farming for its Nescafe brand more sustainable. Parked under Nescafe Plan 2030, the company is working with coffee farmers to help them transition to regenerative agriculture while achieving zero net greenhouse gas emissions. The company aimed to achieve 100 per cent responsible sourced coffee by 2025. (NST)

FGV Holdings Bhd has failed to strike out a counterclaim by five of its former non-executive directors, including Tan Sri Ismee Ismail and Tan Sri Sulaiman Mahbob, over the controversial acquisition of Asian Plantations Ltd (APL) in 2014. On Wednesday (Oct 5), the Federal Court dismissed a leave (permission) application by FGV to appeal to the apex court to hear the merits of the company’s appeal to strike out the counterclaim. (TheEdge)

Malaysian dietary supplement maker DXN Holdings Bhd is considering delaying its US$300 million initial public offering (IPO) in Malaysia to next year because of weak market sentiment, according to people with knowledge of the matter. The company may weigh a listing as early as March if market conditions improve, the people said, asking not to be identified as the information is private. (TheEdge)

Sunway Bhd should be able to meet its partner GIC Pte Ltd's target internal rate of return (IRR) of 12.5 per cent for Sunway Healthcare Group (SHG) and list the healthcare arm by January 31, 2028, RHB Research said. Following a site visit at Sunway Medical Centre (SMC) Sunway City yesterday, the bank-backed research firm is upbeat about SHG expansion, including three already under construction SMC Penang, SMC Damansara and SMC Ipoh. (NST)

MMAG Holdings Bhd's share price doubled to seven sen on Wednesday (Oct 5), from 3.5 sen on Tuesday, as the trading volume of shares in the supply chain management specialist spiked past 792 million from 716,400 units. At the noon break, the counter had pared gains at four sen, with a trading volume of 792.32 million securities, the highest on record since 2017, data on Bursa Malaysia's website showed. (TheEdge)

The Malaysian healthcare sector in particular is vulnerable to global supply chain disruptions and inflationary pressures, posing a potential downside to the group’s performance moving forward, said TMC Life Sciences Bhd chairman Datuk Sri Mohd Mokhtar Mohd Shariff. In his statement to shareholders in the company's 2022 Annual Report released on Wednesday (Oct 5), Mohd Mokhtar said that as part of efforts to further improve governance and risk management frameworks within TMC Life Sciences, the group has embarked on a review of its Environmental, Social and Governance ("ESG") strategic roadmap. (TheEdge)

RHB Retail Research said Ecoscience International Bhd is staging for an uptrend continuation as it bounced off the 21-day average line and reclaimed the previous breakout level of 30.5 sen – forming a “higher low” bullish pattern. In a trading stocks note today, the research house said if the breakout sustains, the stock may climb towards the recent high of 33.5 sen, or Sept 27’s high, before propelling further towards the 40 sen mark. (TheEdge)

RHB Retail Research said SDS Group Bhd is set to propel towards the historical high as it bounced off the 21-day average line, surpassing the 57.5 sen immediate resistance. In a trading stocks note today, the research house said that coupled with improved trading volume and forming a “higher low” bullish structure, the buying interest above that level may persist to propel the stock towards the 64 sen – the recent and historical high – before possibly printing a new high level at the 70 sen mark. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 5 Oct 2022

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