Keyfield International Bhd has plans to raise about RM188.1mil from its initial public offering via the issuance of 209 million new shares at 90 sen a share. In a statement, the group said the proceeds shall mainly go towards redeeming its cumulative redeemable non-convertible preference shares (CRNCPS), as well as to settle the balance purchase consideration for two vessels, namely Blooming Wisdom and Keyfield Helms 1. (TheStar)

MyNews Holdings Bhd has returned to the black with a net profit of RM1.27 million for the first quarter ended Jan 31, 2024 (1Q24) from a net loss of RM3.21 million a year ago, underpinned by robust sales growth. Quarterly revenue rose six per cent to RM195.52 million from RM184.09 million previously, the convenience store operator said in a Bursa Malaysia filing. (NST)

Shares in TCS Group Holdings Bhd rose to a four-month high in active trade after the construction and infrastructure company won a RM140.27 million work contract in Sungai Buloh, Selangor. TCS shares rose as much as 34.6% to a high of 17.5 sen during the morning session but subsequently eased to 16 sen as of 9.43am, still up 23.08% or three sen. At the current price, its market capitalisation is RM66.5 million. (TheEdge)

Kelington Group Bhd's 90.71 per cent-owned subsidiary Ace Gases Sdn Bhd has started production of liquid carbon dioxide (LCO2) at its second plant in Kerteh, Terengganu. With a production capacity of 70,000 tonnes per year, this brings the company's production capacity of LCO2 to 120,000 tonnes per year. (TheEdge)

FGV Holdings Bhd (FGV) is determined to have the Withhold Release Order (WRO) issued by the United States Customs and Border Protection (CBP) on Sept 30, 2020, modified. CBP issued the WRO against the palm oil and palm oil products of FGV and its subsidiaries and joint ventures on Sept 30, 2020, barring entry of these products to the US. (TheStar)

Progressive Impact Corporation Bhd's (Picorp) subsidiary has secured a "material"  contract from Kidana Development Company, Saudi Arabia to supply underground waste compactors. Kidana is a company dedicated to developing real estate in the Holy Sites area and acts as the executive arm of the Royal Commission within its geographical scope, aiming to enhance infrastructure, public facilities, and services for Muslim pilgrims during Hajj rituals. (NST)

The Armed Forces Fund Board (LTAT) has no plans to sell its shareholdings in Boustead Plantations Bhd at this juncture, according to the Ministry of Defence (Mindef). "LTAT is now studying a plan for the future of Boustead Plantations to determine its strategic direction and boost the company's operational performance to a higher level," said Defence Minister Datuk Seri Mohamed Khaled Nordin. (TheEdge)

Scientex Bhd reported a higher bottomline of RM141.01mil in 2QFY24, up from RM106.29mil in 2QFY23, while earnings per share rose to 9.09 sen from 6.85 sen. In a filing with Bursa Malaysia, the group reported revenue of RM1.09bil, up from RM978.39mil on the back of improved contribution from the property segment. (TheStar)

Sapura Energy Bhd saw a 12.5 per cent jump in its share price after reporting a reduced net loss for the fourth quarter ended Jan 31, 2024 (4Q24). The company's net loss decreased to RM728.44 million from RM3.26 billion in the same period a year ago. (NST)

Malaysian Resources Corp Bhd (MRCB) and Kimlun Corp are among companies expected to benefit from expedited flood mitigation projects within the construction sector, RHB research said.The research firm said the federal government has allocated about RM11.8 billion under Budget 2024 for flood mitigation projects spread across 33 high priority projects. (NST)

Source: New Straits Times, The Edge Markets The Star 26 March 2024 

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