Puncak Niaga Holdings Bhd's shares on Bursa Malaysia went up in the early session today after the company inked a RM47.21 million contract with Pembinaan Era Dinamik Sdn Bhd. At 10.09 am, the counter added 3.5 sen to 32 sen with 11.35 million shares traded. (TheStar)

Mechanical, electrical and process (MEP) engineering company Critical Holdings Bhd is planning an initial public offering (IPO) on the ACE Market to fund its business expansion. According to its draft prospectus on Bursa Malaysia on July 13, the exercise will involve 74.35 million new shares, whereby 18.59 million shares will be available for application by the Malaysian public, and 3.72 million shares available for application by eligible directors and employees. (TheEdge)

IJM Corp Bhd’s wholly-owned subsidiary, IJM RE Sdn Bhd, has entered into a joint-venture (JV) agreement with FMM Elmina Sdn Bhd to develop two state-of-the-art logistics hubs in the City of Elmina, Shah Alam. In a statement, IJM said the two parties had entered into a subscription and shareholders agreement to establish Exio Logistics Sdn Bhd. (TheStar)

MST Golf Group Bhd will be the first golf equipment retail chain operator to list on Bursa Malaysia when it makes its debut on the Main Market on Thursday (July 20). Its initial public offering (IPO) is expected to raise RM129.6 million from the public issuance of new shares, while its proceeds will mainly be used for local and regional expansion. (TheEdge)

Vestland Bhd's subsidiary, Vestland Resources Sdn Bhd has been awarded a design and build contract to build three blocks of 15-storey apartments and related facilities at Kelab Golf Sultan Abdul Aziz Shah, Shah Alam, Selangor by Mercu Majuniaga Sdn Bhd, worth RM93.0 million. The project is to be completed within two years. (NST)

Clean energy solutions provider Gentari Sdn Bhd, a subsidiary of Petroliam Nasional Bhd (Petronas), has appointed energy industry veteran Navjit Gill as its country head for India, effective July 10. Gentari has identified India as one of its top markets in its renewable energy push. (TheEdge)

Barakah Offshore Petroleum Bhd's unit, PBJV Group Sdn Bhd, has received a contract extension for pan-Malaysia maintenance, construction and modification (MCM) services under Package A. In a filing on Monday (July 17), the group said that the contract from Jadestone Energy (Malaysia) Pte Ltd — formerly Sapura Exploration and Production (PM) Inc — Hess Exploration and Production Malaysia BV, Petrofac (Malaysia-PM304) Limited and IPC Malaysia BV, which was due to expire in June this year, has been extended to December 31, 2024. (TheEdge)

Datasonic Corporation Bhd intends to expand its business in three segments, its executive director BC Chuah said. They are the use of recycle environmentally-friendly cards, support digital banks with kiosk and virtual teller machine (VTM), and reaching out to groups without bank accounts. (NST)

TDM Bhd’s unit KMI Assets Sdn Bhd (KMIA) has entered into a sale and purchase agreement (SPA) with Kemaman Municipal Council (MPK) to purchase a freehold, Malay reserved land in Terengganu for RM14.1mil. In a filing with Bursa Malaysia, TDM said the proposed land acquisition will enable KMIA to build a private hospital building, in line with its strategic expansion of KMI Healthcare. (TheStar)

DRB-Hicom Bhd's shares on Bursa Malaysia were traded higher after the announcement that the Chinese automobile manufacturer Zhejiang Geely Holding Group Co Ltd (Geely) will be investing US$10 billion (US$1=RM4.54) to turn Tanjung Malim, Perak, into the region’s largest auto city. At 4.10 pm, the counter added four sen to RM1.43 with 3.38 million shares traded. (TheStar)

Berjaya Corporation Bhd (BCorp) saw its share price rise 11.45% or 3.5 sen to an intra-morning high of 34 sen during Tuesday (July 18) morning trading on Bursa Malaysia after selling its waste management business Berjaya Enviro Holdings Sdn Bhd (BEnviro) to Naza Corp Holdings Sdn Bhd for RM700 million cash. Its intra-morning peak on Tuesday is the highest since January 30, where the stock closed at 34.5 sen. (TheEdge)

A total of 25.46 million shares of Destini Bhd were actively traded during Tuesday’s (July 18) morning session after the company announced on Monday a renounceable rights issue of up to 1.66 billion new shares coupled with free warrants, to raise at least RM20.93 million for working capital. Volume traded exceeded its 200-day average volume of 6.49 million, putting it among the top active counters on Bursa Malaysia. Only 326,000 shares were traded on Monday. (TheEdge)

Revenue Group Bhd’s co-founder and former director Brian Ng Shih Chiow, who is accused of forging invoices and purchase orders with the purpose of cheating the company, does not intend to send a letter of representation at this point in time. His counsel Nur Izni Syazwani Ahmad from AmerBON said this to Sessions Court judge Rozina Ayob’s query during a brief case management on Tuesday (July 18). (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 18 July 2023

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