Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) has secured an engineering, procurement and construction (EPC) from Sarawak Shell Bhd. MHB, an energy and marine solutions provider, said its subsidiary Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) would undertake the EPC services of the offshore platform for the Rosmari-Marjoram gas project, off the coast of Sarawak. (NST)

Integrated energy solutions provider T7 Global Bhd has secured a five-year contract to provide technical and general staffing personnel services. T7 Global, in a statement today, said its subsidiary T7 Intelligent Resources Sdn Bhd (T7IR) had bagged the contract from ExxonMobil Exploration and Production Malaysia Inc (ExxonMobil). (NST)

Sime Darby Property Bhd (SDP) announced a collaboration with BoomGrow Productions Sdn Bhd to introduce its first urban farm in Serenia City on Oct 7. The initiative is part of the property developer’s “The Greener Good” sustainable farming initiative, which aims to shape resilient and healthy communities by making safe and sustainable produce accessible for its residents. (TheEdge)

Axiata Group Bhd led mobile network operators’ (MNOs) decline on Tuesday (Oct 11) morning following the announcement of equity investment into the country’s 5G network special purpose vehicle Digital Nasional Bhd (DNB) last Friday. Axiata, a KLCI constituent stock, was down as much as 5.3% in early trade, before paring losses to trade 13 sen or 4.9% lower at RM2.52, its lowest in over 12 years, valuing the regional MNO at RM23.03 billion. (TheEdge)

LYC Healthcare Bhd's wholly-owned LYC Medicare (Singapore) Pte Ltd has completed the acquisitions of the remaining 49 per cent stake in two Singapore-based specialist clinics, T&T Medical Group Pte Ltd and HC Orthopaedic Surgery Pte Ltd. In a statement today, LYC said it had initially acquired a 51 per cent stake in T&T and HCOS in late 2020 to enhance its healthcare service offerings and expand its market presence in the Singapore healthcare sector. (NST)

Sasbadi Holdings Bhd has secured four contracts totaling RM16.6mil from the Education Ministry (MoE). In a filing with Bursa Malaysia, Sasbadi said its wholly-owned subsidiary, Sasbadi Sdn Bhd (SSB) signed and accepted four letters of acceptance from the MoE. (TheStar)

Piling and foundation specialist Pintaras Jaya Bhd has secured six new piling contracts worth a combined RM192 million in Singapore. In a bourse filing on Tuesday (Oct 11), Pintaras said the contracts were clinched through its indirect wholly-owned subsidiary in Singapore, Pintary Foundations Pte Ltd. The contract periods range from three months to 18 months, starting this month. (TheEdge)

Leading Ventures Sdn Bhd's mandatory takeover offer for Meta Bright Group Bhd (formerly known as Eastland Equity Bhd) is not fair and unreasonable, according to independent adviser UOB Kay Hian Securities (M) Sdn Bhd, which is recommending Meta Bright's shareholders to reject the offer. In its independent advice circular filed with Bursa Malaysia on Tuesday (Oct 11), the financial institution said the offer is not fair because the offer price of seven sen represents a discount of 28.57% to the revalued net asset value of Meta Bright shares of 9.8 sen apiece. (TheEdge)

Southern Cable Group Bhd has targeted to achieve RM100 million sales of cables and wires to the US in the year ending Dec 31, 2023 (FY23). The cable and wire manufacturer said it would begin deliveries to a US-based cable and wire distributor in the fourth quarter (Q4) of 2022. (NST)

The reduced taxable income bracket and a one-off e-wallet credit in the 2023 Budget will increase disposable income and encourage retail spending, Hektar Real Estate Investment Trust (Hektar Reit) said. Hektar Reit executive director and chief executive officer Johari Shukri Jamil said the company's assets under management comprised five established neighbourhood-focused malls and one regional shopping mall, which played a key role in serving as a community hub. (NST)

SNS Network Technology Bhd (SNT) is optimistic about securing more projects from the ministry of education (MoE) following the ministry's announcement of the three-phase RM1.3 billion hybrid classroom pioneer project recently. Promoter and managing director Ko Yun Hung said the company has a range of products and services aligned with the MoE's hybrid classroom pioneer project. (NST)

Hume Cement Industries Bhd (HCIB) remains cautiously optimistic about its prospects in the current business environment post Covid-19. In its 2022 annual report, the company said the cement division will focus on improving overall sales, especially with its newly-launched Panda Yellow product, which has garnered positive market response. (TheStar)

West Coast Expressway Sdn Bhd (WCESB), an 80%-owned subsidiary of WCE Holdings Bhd, is seeking up to RM400 million from the government to part-finance the land acquisition cost for the RM5.044 billion West Coast Expressway project. In a filing with Bursa Malaysia on Tuesday (Oct 11), WCE said WCESB had on Oct 7 entered into a reimbursable land cost (RLC) agreement with the Finance Ministry for the financing of up to RM400 million to part-finance the land acquisition cost for the expressway. (TheEdge)

RHB Retail Research said Teladan Setia Group Bhd could rebound towards the YTD high as it bounced off the 21-day average line last week and attempted to test the resistance of RM1.10. In a trading stocks note on Tuesday (Oct 11), the research house said if the stock crosses that point, renewed buying interest may emerge to drive the stock towards the YTD high of RM1.17, or Aug 17’s high, before trending northwards further towards the RM1.30 mark. (TheEdge)

RHB Retail Research said AwanBiru Technology Bhd is poised to resume its uptrend, as it rebounded from a recent pullback while trying to cross the 48 sen resistance level last Friday, supported by improved trading volume. In a trading stocks note on Tuesday (Oct 11), the research house said that if a breakout happens above that level, the bulls may propel the stock to the resistance level of 52 sen or Aug 18’s high, followed by 55 sen, i.e. the high of May 13. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 11 Oct 2022

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