Comintel Corp Bhd has secured a contract worth RM229.8mil from Builtamont Development Sdn Bhd to develop two apartment blocks in Taman Desa Aman, Kuala Lumpur. In a filing with Bursa Malaysia, the Practice Note 17 group said the job was secured by its wholly-owned subsidiary, Binastra Builders Sdn Bhd. (TheStar)

KSK Group Bhd's unit KSK Land Sdn Bhd has terminated its contract with Grand Dynamic Builders Sdn Bhd, which is wholly-owned by GDB Holdings Bhd, as the main contractor for its flagship 8 Conlay development. KSK Land decided to end the contract between its subsidiary Damai City Sdn Bhd with Grand Dynamics due to the failure to achieve solutions that both parties agreed on relating to different disputes. (NST)

MST Golf Group Bhd, which is seeking a listing on Bursa Malaysia, has embarked on regionalisation drive in Indonesia via a joint venture company (JVC) with a major retailer there. MST Golf today signed a memorandum of understanding (MoU) with PT Sinar Eka Selaras, a provider of multi-brand retail and distribution solutions in Indonesia with the vertical name of Erajaya Active Lifestyle. (NST)

Sunway Malls beat expectations after registering 19% year-on-year (y-o-y) growth in the first quarter of 2023 on the back of a stronger festive quarter and healthy demand for out-of-home dining. In a statement, the mall group operator, which operates seven physical malls and one digital mall, said it recorded sales growth of 12% in January, 25% in February and 25% in March respectively. (TheStar)

Apex Healthcare Bhd's recent proposed bonus issue will enhance the marketability and liquidity of its shares, thereby making it more appealing to a wider base of shareholders, said Public Investment Bank Bhd (PublicInvest). Apex Healthcare's share capital of RM130.06 million consists of 477.7 million shares. With the assumption of a total of 3.2 million outstanding employees share option scheme being exercised, the bonus issue will bring the share base to 721.3 million. (NST)

Axis Real Estate Investment Trust's (Axis Reit) net profit of RM32.5 million for the first quarter of 2023 (Q12023) fell short of expectations, said Affin Hwang Capital Research. Axis Reit's net profit for Q12023 declined 16.8 per cent year on year (yoy) to RM32.5 million. According to Affin Hwang, the lower core net profit, together with the placement of 100 million new units in January 2023, resulted in a 22 per cent drop in core earnings per unit (EPU) and a 15 per cent drop in dividend per unit (to 2.05 sen). (NST)

Shares in Pharmaniaga Bhd jumped 12% in active trade early on Wednesday (April 19) after the Health Ministry confirmed that Pharmaniaga’s concession agreement to provide medicine and medical supplies to the ministry’s facilities has been extended for 10 more years. At 9.30am, Pharmaniaga rose 4.5 sen to 42 sen with 33.75 million shares done. (TheEdge)

GDB Holdings Bhd has claimed that its subsidiary Grand Dynamic Builders Sdn Bhd (GDBSB) was wrongfully terminated from 8 Conlay project. In a statement on Wednesday (April 19), the construction services firm said that the purported determination is wrongful as the mandatory contractual procedures and notices prior to the determination have not been complied with. (TheEdge)

The suspension for trading of Jerasia Capital Bhd’s shares in Bursa Malaysia will begin from next Tuesday (April 25) instead of Friday (April 21) as announced earlier, with Bursa Malaysia closed on Friday and Monday for the Hari Raya holidays. Jerasia filed the update on Wednesday following the stock exchange's announcement of its closure, in line with the extra public holiday announced by Prime Minister Datuk Seri Anwar Ibrahim in conjunction with the festivities. (TheEdge)

Maxis Bhd aims to adopt circularity within the organisation by establishing a system that reduces waste and promotes sustainable resource usage. In its annual report for 2022, the telecommunication service provider said it would also enhance its sustainable business practices as sustainability became a fundamental aspect of business operations and regulatory requirements. Maxis said it had undertaken initiatives to understand its emissions, set reduction targets, implement strategic measures to reduce emissions and disclose sustainability indicators as required by regulations. (TheStar)

KKB Engineering Bhd is poised to recover with its full-fledged integrated capabilities in the financial year 2023. In its annual report for 2022, chairman Datuk Seri Kho Kak Beng said the engineering sector is expected to turn a new page with the completion of projects secured pre-pandemic and the replenishment of its order book. (TheEdge)

Cecile Jaclyn Thai, the daughter of Supermax Corp Bhd executive chairman and major shareholder Datuk Seri Stanley Thai, claimed she quit as the group's non-executive director as she had experienced "bullying and silencing" from other board members, including her father, while trying to uphold her fiduciary duties. (TheEdge)

Malaysia Airports Holdings Bhd (MAHB), which registered a 125% year-on-year increase in passenger traffic in the first quarter of the year (1Q2023), expects more airlines to fly into its airports, including Indonesia-based TransNusa Airlines in the coming months. MAHB managing director Datuk Iskandar Mizal Mahmood said the airport operator remains optimistic about travel demand, on the back of active resumption of airline operations and routes at its airports nationwide. (TheEdge)

CGS-CIMB Research is hopeful over the teaming-up of Astro with Warner Bros Discovery Inc (WBD) of the United States, in relation to it’s offer of the latter’s streaming service Max. Max is a combination of the content of HBO Max and Discovery+, and will be made available in the United States by WBD on May 23, while the rest of the world will have access to the new service some time next year. (TheStar)

Chemical manufacturer Ancom Nylex Bhd's nine-month financial year 2023 (9MFY23) results came in within expectations at 77 per cent of the full-year forecast and 74 per cent of the full-year consensus estimate, said Kenanga Research. According to Kenanga Research, Ancom Nylex's year-on-year (YoY) and 9MFY23 revenue increased by eight per cent, owing to higher sales volume in its agricultural chemical division, which was fueled by demand for monosodium methanarsonate (MSMA)-related products as a replacement for Paraquat following its ban in Thailand. (NST)

Source: New Straits Times, The Edge Markets, The Star 19 Apr 2023

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