In addition, Ekovest’s ongoing corporate restructuring is set to enhance overall efficiency and strengthen its asset portfolio. The merger with IWC-IWH brings a significant strategic landbank of over 4,000 acres in Iskandar Malaysia's Flagship A Zone. Noteworthy details of the restructuring include a reduced acquisition price, resulting in a lower dilution and improved earnings accretion for Ekovest.
DNEX is attractive to bargain at current levels above crucial support from the 30/5/23 low (37sen), for rebound upside to the 100-day ma (43sen) and 200-day ma (47sen), with tougher hurdles seen at 53sen and the 76.4%FR (59sen).
Malakoff Corp Bhd, through its wholly-owned subsidiary, Malakoff Radiance Sdn Bhd has secured a solar agreement with Railway Assets Corp (RAC) and Keretapi Tanah Melayu Bhd (KTMB) for the development, operation and maintenance of carport and rooftop solar systems at railway stations, depots and a park and ride terminal in Perak, Penang, Selangor, Johor and Negeri Sembilan. Malakoff’s MD & Group CEO Anwar Syahrin Abdul Ajib said the group is targeting 1,400MW of renewable energy (RE) capacity by 2031 through collective efforts. (The Edge)
Malakoff Corp Bhd has teamed up with Abu Dhabi Future Energy Company PJSC (Masdar) to identify potential business opportunities through investment and development of solar photovoltaic power plant project development, with a targeted aggregate capacity of up to 1,000MW, and explore other renewable energy (RE) projects opportunities in Peninsular Malaysia.
In a statement, Malakoff said the collaboration will involve conducting technical and commercial assessments of specific projects that have been identified, and collaborating on the development, implementation and management of the projects, including the financing arrangements in accordance with the RE transition.
In parallel with Malaysia's goal of achieving net-zero emissions by 2050, Malakoff said the partnership will further enhance their portfolios, which currently stand at 151MW of RE generating capacity consisting of project acquired large-scale solar, rooftop solar, and small hydro power generation.
Malakoff may extend its uptrend after breaching the resistance on high volume. The stock has printed three consecutive “higher high” bullish candlesticks, while trading volume has been increasing. After pushing past the MYR0.64 resistance, the stock is setting its sights on the next resistance of MYR0.68, followed by MYR0.70. Conversely, falling below the MYR0.625 support will lead to the resumption of a correction phase.
The company has been making headway in driving the transition to a cleaner and greener future. It recently signed a memorandum of understanding (MoU) with ports under the MMC group of companies, namely Northport (Malaysia) Bhd, Johor Port Bhd, Tanjung Pelepas Sdn Bhd and Penang Port Sdn Bhd, to collaborate on various green power initiatives. These initiatives include the Corporate Green Power Programme (CGPP), self-consumption (SELCO), shore-to-ship power (SSP) and installation of electric vehicle charging stations.
Malakoff Corp Bhd plans to increase its market share by seeking opportunities to expand its portfolio of rooftop solar, grow in terms of large-scale solar (LSS) projects and engage in potential mergers and acquisitions (M&As), says managing director and chief executive officer Anwar Syahrin Abdul Ajib.
In achieving its 1,400 megawatt (MW) renewable capacity target by 2031, Anwar said it is a market share game. The company’s market share is now between 15% and 20%.
Malakoff Corp Bhd has signed a solar power purchase agreement with DRB-Hicom Bhd to develop, operate and maintain solar photovoltaic systems at 14 locations in Selangor, Perak, Melaka and Pahang. According to the group's statement on Wednesday, its subsidiary Malakoff Radiance Sdn Bhd had entered into the deal with 10 companies under the DRB-Hicom banner for the project, which has a total capacity of 20.78 MWp and total electricity generation of 26,546.45 MWh per annum.
Berjaya Corp Bhd (BCorp) has raised its stake in Berjaya Food Bhd (BFood), whose share price has fallen by a third year to date, to 57.43% from 55.31% after buying 37.25 million shares. BCorp paid RM26.59 million in total or 71.4 sen per share for the block of shares purchased. BFood, which operates the Starbucks coffee chain in Malaysia, closed at 68.5 sen on Monday, giving it a market capitalisation of RM1.33 billion. Following the latest transaction, BCorp now holds a total of about 1.008 billion shares, or a 57.43% stake, in BFood.
Dagang NeXchange Bhd’s (DNeX) 90%-owned subsidiary Ping Petroleum Sdn Bhd has secured a contract from Petroliam Nasional Bhd (Petronas) in relation to the production of petroleum and abandonment of petroleum facilities. DNeX said the abandonment (decommissioning) work will cover petroleum facilities located in the Abu Cluster — about 250km off the east coast of peninsular Malaysia. DNeX’s filing did not disclose a value on the contract it secured from the national oil and gas giant.
Malakoff Corp Bhd has proposed to acquire a 49% stake in a solid waste management company, E-Idaman Sdn Bhd, for RM133.2 million cash. Malakoff said E-Idaman's wholly-owned subsidiary, Environment Idaman Sdn Bhd, provides waste collection and disposal services for municipal waste under a 22-year concession granted by the federal government for the provision of solid waste collection and public cleansing management services for Kedah and Perlis.
Dagang NeXchange Bhd (DNeX) is partnering with Zhongheguoji Construction Group Co Ltd (CSI) to access high tech IT solutions from China as well as to expand its geographical footprint into the Middle East and North Africa region. DNeX said it has entered into a joint venture agreement with CSI for the establishment of a joint venture enterprise to source for state-of-the-art technology and solutions from China.
Dagang NeXchange Bhd's (DNeX) subsidiary, Dagang Net Technologies Sdn Bhd has accepted RM18.08 million contract for Malaysia Maritime Single Window Phase 1 (MMSW) project from the Port Klang Authority. The group said the project is expected to commence in October this year for a period of three years and six months.