MY E.G. Services Bhd's immigration concession service to renew foreign worker's permit has not been suspended since February of this year. MyEG yesterday clarified, in a filing with Bursa Malaysia Securities, that the company's concession service with the government remains intact, amid allegations that its been suspended since February 2023. (NST)

Given the improving liquidity for its stock, Sunway Bhd is expected to be re-included to the FTSE4Good Bursa Malaysia Index and the FTSE4Good Bursa Malaysia Shariah Index, with the earliest possible inclusion being December 2023. According to Hong Leong Investment Bank (HLIB) Research, the inclusion will help enhance the stock’s “investability” especially for foreign investors and environmental, social and governance index tracking as well as thematic funds. (TheStar)

Bumi Armada Bhd’s proposed venture with two Indonesian firms to develop floating liquefied natural gas (LNG) and carriers while engineering a carbon capture injection system for a gas field in Indonesia is positive and could generate a new source of income for the company. However, contribution from the first LNG shipment would take several years to kick in, according to Hong Leong Investment Bank (HLIB) Research. (TheStar)

Tropicana Corp Bhd, in a collaboration with the Langkawi Municipal Council Tourism City, has completed the RM2.5 million renewal of the 0.49-acre Pantai Kok rest and recreation (R&R) centre in Langkawi, according to the developer’s press release on Friday.  The initiative saw the upgrading of existing facilities including eight commercial lots, enhanced washroom and surau facilities, and the allocation of more than 70 parking bays for cars, motorcycles and bicycles, to cater for the needs of travellers and visitors and in support of Langkawi’s tourism segment. (TheEdge)

There is no immediate liquidity risk related to Pharmaniaga Bhd’s Practice Note 17 (PN17) status to Duopharma Biotech Bhd, as the company (Duopharma) has received payments related to the approved product purchase list (APPL) contract. “Pharmaniaga has given its written commitment to fulfil its financial obligation to Duopharma, which has continued to receive payments from the former (Pharmaniaga) in relation to the awarded APPL contract,” RHB Research wrote in a note on Friday, following a briefing by Duopharma. (TheEdge)

Source: New Straits Times, The Edge Markets, The Star 15 September 2023

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