Sentral REIT's net property income for the first quarter ended March 31, 2023 (1QFY2023) declined 4.03% to RM29.3 million, from RM30.5 million a year earlier. Net income fell 13% to RM17.66 million or 1.65 sen per unit from RM20.36 million or 1.90 sen per unit, the real estate investment trust (REIT) said in a filing with Bursa Malaysia. (TheEdge)

Minetech Resources Bhd has announced its wholly-owned subsidiary Minetech Construction Sdn Bhd has been awarded a roadworks and drainage project valued at RM2.56mil by OSK Property Holdings Bhd's unit, Aspect Synergy Sdn Bhd. In a statement, the group said the project, which is part of phase 3 of Taman Iringan Bayu in Seremban, commenced on May 9, 2023, for a period of four months. (TheStar)

Yinson Holdings Bhd's offshore production business unit Yinson Production (YP) says the floating production storage and offloading (FPSO) Anna Nery has achieved first oil on May 7 following a successful 72-hour testing.  The project together with its partner Sumitomo Corporation, marks the commencement of the firm charter for a period of 25 years, until 2048. (NST)

Reneuco Bhd's wholly-owned subsidiary Reneuco RE Sdn Bhd has entered into a memorandum of agreement (MoA) with Pengurusan Murni Sdn Bhd and Aero Line Facilities and Engineering Services Sdn Bhd (ALFES) to explore a collaboration in green energy business in Perak. Pengurusan Murni is a unit of state economic development corporation Perak Industrial Resources Sdn Bhd (PIRSB) while ALFES is principally engaged in construction and engineering. (TheStar)

Main Market-bound DXN Holdings Bhd fixed its final initial public offering (IPO) price at 70 sen per share. In a bourse filing on Thursday (May 11), DXN said the institutional price and final retail price were fixed on Wednesday, following the completion of the bookbuilding process under the institutional offering on Tuesday. (TheEdge)

Cahya Mata Sarawak Bhd (CMS) on Wednesday announced that the Asian International Arbitration Centre (AIAC) has denied the application by its subsidiary Cahya Mata Phosphates Industries Sdn Bhd (CMPI) for an interim injunction to restrain Syarikat SESCO Bhd from exercising certain actions relating to the dispute between the parties. In a Bursa filing on Wednesday, CMS said CMPI has commenced an emergency arbitration with the Director of AIAC against SESCO. CMPI and SESCO had a dispute under the power purchase agreement dated Jan 15, 2019, relating to the sale and purchase of electric power for a phosphate production facility located in Sarawak. (TheEdge)

Classic Scenic Bhd's share price, which opened at 58 sen in morning trade on Thursday (May 11), surged 16.36% to a high of 64 sen. At the time of writing, the stock has pared its gains to 62 sen — up seven sen or 12.73% — giving it a market capitalisation of RM156.77 million. (TheEdge)

Kenanga Research is positive on the two contracts that Kimlun Sdn Bhd, a wholly owned subsidiary of Kimlun Corp Bhd, obtained from Horizon Hills Development Sdn Bhd yesterday. According to Kimlun, the RM94.5 million contracts were for the major building work on 78 shop office units and a shopping centre with facilities in Pulai, Johor. The projects should be completed by the second quarter of 2025. (NST)

Maybank Investment Bank (Maybank IB) has become more cautious about Swift Haulage Bhd's outlook following three consecutive earnings miss. "Although we anticipate continued growth in its warehousing segment due to recent capacity expansions, the uptake rate may slow," it said in a note today. (NST)

Source: New Straits Times, The Edge Markets, The Star 11 May 2023

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