Malaysia Airports Holdings Bhd (MAHB) has obtained in-principle approval from the government on the material terms of the operating agreements (OA 2023) to operate, manage, maintain and develop 39 airports and short take-off and landing airports (STOLports) until 2069. In a statement today, MAHB said the material terms of the OA 2023 enabled it and the government to have flexibility in the method of funding airport development costs, either using government allocations through development expenditure or MAHB through any suitable investment recovery model mechanism. (TheStar)
Kejuruteraan Asastera Bhd (KAB) has acquired a 10% stake in a unit of Petronas Gas Bhd (PetGas), which is responsible for a power plant project in Sabah, and will be the sole energy supplier to Petronas’ near-shore floating liquefied natural gas facility that is completing in 2026. KAB’s wholly-owned subsidiary KAB Energy Holdings Sdn Bhd (KABEH) signed the share purchase agreement with PetGas to acquire a 10% stake in PetGas’ subsidiary Regas Terminal (Lahad Datu) Sdn Bhd (RGTLD). (TheEdge)
MY E.G Services Bhd expects its concession to handle foreign workers and maids applications and renewals will be maintained at least until 2025, according to its chief executive officer Wong Thean Soon. Analysts briefed by Wong following reports suggesting that MyEG would no longer be involved in the immigration concession by 2025, also said the market had overreacted to the news. (NST)
Texchem Resources Bhd is expected to record "flattish-to-softer" quarterly earnings growth for its fourth quarter (Q4) results. RHB Research said this was due to Texchem's polymer engineering and food divisions being affected by macroeconomic headwinds. (NST)
Affin Hwang Capital has maintained its cautious outlook on British American Tobacco (Malaysia) Bhd due to the uncertainties surrounding the regulations of vape products and generational end-game policies. Inflationary pressures on consumer spending might also have an effect on BAT Malaysia, said Affin Hwang. (NST)
Maybank Investment Banking Group (Maybank IBG) viewed UEM Sunrise Bhd's unsuccessful acquisition of a freehold parcel of land along Jalan Semarak in the Kuala Lumpur city centre as a positive, as the deal would have led to its involvement in the highly competitive and over-supplied retail, office and hotel segments of the property market. In a note on Thursday (Feb 9), the research house's analyst Wong Wei Sum said UEM Sunrise also faced stiff competition from nearby high-rise projects, such as Platinum Splendor Residensi. (TheEdge)
Source: New Straits Times, The Edge Markets, The Star 09 Feb 2023
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