Posted by Good123 > 2023-09-11 10:17 | Report Abuse

Bagus, Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London

KUALA LUMPUR: The London Stock Exchange Group (LSEG), fresh from the official opening of its flagship office here, has reiterated its commitment to stay for the long-term in the country.

Having emphasised on the importance of talent in its recruitment policy, Malaysia has been a strategic find, according to Asia-Pacific managing director and group head of sales for the global market infrastructure solutions David Day.

Despite the potential political ebb and flow that has been occurring in the country, the LSEG is committed to stay in the country, he added.

Posted by Good123 > 2023-09-11 10:19 | Report Abuse

Once breakthrough 10sen, aggressive chase would follow

Posted by Good123 > 2023-09-11 10:20 | Report Abuse

At 8sen, market cap rm53mil only.

A tiny amount today

Posted by Good123 > 2023-09-11 11:05 | Report Abuse

KUALA LUMPUR: The domestic market could be poised for a rebound following the conclusion of the Johor weekend by-elections although investor anticipation of further developments on the political scene may cap upside potential on the market.

Malacca Securities Research said in a note it expects the market to perform better in the near term as the Johor by-elections maintained the status quo while the positive rebound on Wall Street could spill over to stocks on the local front.

Posted by Good123 > 2023-09-11 11:49 | Report Abuse

KUALA LUMPUR: CIMB Group Holdings Bhd (CIMB) is raising its sustainable finance target to RM100 billion by 2024 under its Green, Social, Sustainable Impact Products and Services (GSSIPS) Framework.

Group chief executive officer Datuk Abdul Rahman Ahmad said CIMB has seen an acceleration in sustainable finance across the markets it operates in, with the growing awareness and adoption of environmental, social and corporate governance (ESG).

He noted that the group had surpassed its previous sustainable finance target of RM60 billion, having mobilised close to RM70 billion sustainable finance to-date since 2021.

"Accordingly, we are pleased to announce our higher sustainable finance target of RM100 billion by 2024, driven by the accelerating adoption of environmentally and socially responsible practices among our clients,” he said in his welcoming remarks at the Cooler Earth Sustainability Summit 2023 today.

He added that the trend is encouraging and further reinforces the group’s conviction that the transition towards greener and more resilient economies presents significant new opportunities for financial institutions such as banks to grow their business.

In line with the GSSIPS framework, CIMB’s commitment includes green, social and sustainable financing, as well as sustainability-linked, retail, corporate and commercial financing, trade financing, debt and equity capital markets, wealth management, and treasury solutions.

Abdul Rahman said CIMB is also strongly committed to playing a leading role in green and transition finance across the ASEAN region.

"In driving this commitment forward, we will continue to introduce and promote innovative solutions to support our client’s goals and ambitions in the transition towards a greener and more sustainable future,” he said.

He also announced that CIMB has entered into a Memorandum of Collaboration with Bursa Malaysia Securities Bhd to leverage its Bursa Carbon Exchange (BCX) which provides a streamlined platform for trading high-quality carbon credits through standardised contracts.

Abdul Rahman said the strategic partnership would feature collaborative capacity-building initiatives, aimed at deepening the understanding of voluntary carbon markets and improving clients' accessibility to carbon credits.

"It will also explore the possibility of enabling CIMB to effectively conduct carbon credit transactional services on behalf of our clients via the BCX platform,” he said.

In his speech, he lauded the Malaysian government’s recent policy announcements which are aimed at not just delivering on the country’s ambition to achieve Net Zero by 2050 but also adopting sustainability as a key strategy to transform Malaysia’s economic growth.

Abdul Rahman said the National Energy Transition Roadmap (NETR) would open up investment opportunities of up to RM1.85 trillion by 2050 from 10 wide-ranging catalytic initiatives, to enable the export of renewables, as well as create over 23,000 high-impact jobs.

At the same time, the New Industrial Master Plan 2030 (NIMP) aims to revitalise the country's manufacturing sector and increase its value-added turnaround to RM587.5 billion by 2030, while striving for a net-zero future, he said. - Bernama

Posted by Good123 > 2023-09-11 14:41 | Report Abuse

KUALA LUMPUR: Malaysia’s economy is on track to grow between 5.0 and 5.5 per cent per annum for the remainder of the 12th Malaysia Plan (12MP), driven by domestic demand, particularly private sector expenditure.

According to the Mid-Term Review of the 12th Malaysia Plan (12MP MTR) 2021-2025 report, tabled in Parliament today, the gross national income (GNI) per capita in current prices is projected to increase by 4.6 per cent per annum to RM61,000 or US$14,250 in 2025.

Posted by Good123 > 2023-09-11 14:42 | Report Abuse

the report stated that the electricity subsector will be enhanced by increasing renewable energy (RE) capacity with a target of 31 per cent in 2025, in line with the Big Bold HGHV Industry based on Energy Transition.

Posted by Good123 > 2023-09-11 15:13 | Report Abuse

not much shares for sales :)

Best Sell
Position

Price

Volume

Orders

1

0.08

1,729,300 = RM138,344

34

2

0.085

1,723,900=RM146,532

29

3

0.09

984,800 =RM88,632

14

4

0.095

614,500=RM60,943
11

5

0.10

1,152,400=RM115,240

19

Posted by Good123 > 2023-09-11 15:55 | Report Abuse

More Biz for picorp to test environmental issue, etc

According to the Mid-Term Review of the 12th Malaysia Plan (2021-2025) report released today, it is estimated that the non-radioactive rare earth industry will create 6,550 jobs and contribute RM9.5 billion to the country’s gross domestic product (GDP) by 2025.

It said the National Mineral Policy 2 would be reviewed to provide a more holistic direction to drive the mineral industry development, including non-radioactive rare earth element (NR-REE), bauxite, tin, silica, and kaolin, based on sustainable and responsible principles.

“The non-radioactive rare earth industry will...

According to the Mid-Term Review of the 12th Malaysia Plan (2021-2025) report released today, it is estimated that the non-radioactive rare earth industry will create 6,550 jobs and contribute RM9.5 billion to the country’s gross domestic product (GDP) by 2025.

It said the National Mineral Policy 2 would be reviewed to provide a more holistic direction to drive the mineral industry development, including non-radioactive rare earth element (NR-REE), bauxite, tin, silica, and kaolin, based on sustainable and responsible principles.

“The non-radioactive rare earth industry will...

Posted by Good123 > 2023-09-11 15:56 | Report Abuse

More Biz for picorp to do study , etc

manufacturing sector.

The Dewan Rakyat is currently sitting for a six-day special sitting focused on the tabling of the 12MP MTR.

The MTR was carried out to evaluate the achievements of the five-year plan in its first two years (2021-2022) and the direction for the next three years (2023-2025) towards achieving a sustainable, prosperous, and high-income nation, taking into account current domestic challenges and global trends.

Posted by Good123 > 2023-09-12 08:37 | Report Abuse

Big Biz & growth for picorp

Comprehensive review of water management and wastewater treatment in food processing industries in the framework of water-food-environment nexus

Posted by Good123 > 2023-09-12 08:40 | Report Abuse

Unlimited potential for PICORP's nature of Biz.. M&A activities are expected...

#climate change.

Whether we are prepared or not, we are at the precipice of change that cannot be avoided. Despite our interests, we must radically increase our quality of life by changing our economy into a low carbon economy that is filled with jobs that are more fair and democratic.

The green industry revolution or the more comprehensive MADANI Economy does not only give improvements to our lives but also offers a more equal economy that protects the environment £€$¥₩

Posted by Good123 > 2023-09-12 09:04 | Report Abuse

Putrajaya is to spend RM270 billion in the final three years under the 12th Malaysia Plan , as the government aligns the five-plan with the Madani Economy vision.

Posted by Good123 > 2023-09-12 09:10 | Report Abuse

just buy from cash desperate or margin players now to reap higher ROI anytime :)

Posted by Good123 > 2023-09-12 09:13 | Report Abuse

KUALA LUMPUR: CIMB Group Holdings Bhd has raised its sustainable finance target to RM100 billion by 2024 under the company's green, social, sustainable impact products and services (GSSIPS) framework.

The target was revised after the group achieved its RM60 billion target announced in 2022.

To date, CIMB has mobilised around RM70 billion in sustainable finance since 2021.

The target is complementary to a series of enhanced sustainability commitments which the group announced in 2021.

This includes the aim of achieving net zero greenhouse gas emissions, that include Scope 3 financed emissions by 2050.

"The sustainable finance commitment is guided by CIMB's GSSIPS framework, which serves as an internal taxonomy for the group to deliver impactful sustainable finance.

"In line with the framework, CIMB's commitment includes, among others, green, social and sustainable, as well as sustainability-linked, retail, corporate and commercial financing, trade financing, debt and equity capital markets, wealth management and treasury solutions," it said.

The new target was announced at the opening day of The Cooler Earth 2023.

During the summit, CIMB also announced partnership with Bursa Malaysia to leverage its Bursa Carbon Exchange (BCX) that provides a streamlined platform for high-quality carbon credits trading via standardised contracts.

The collaboration consists of collaborative capacity building initiatives and potential exploration to allow CIMB to conduct carbon credit transactional services via the BCX platform.

This includes the seamless execution of diverse transactional services such as the trading of carbon credits and the retirement of these credits.

Group chief executive officer Datuk Abdul Rahman Ahmad said the threefold increase in its sustainable finance target was attributed to the group's accelerating adoption of environmentally and socially responsible practices.

"This trend is encouraging, and further reinforces our conviction that the transition towards greener and more resilient economies presents significant new opportunities for financial institutions such as banks to grow our business," he said.

Posted by Good123 > 2023-09-13 12:55 | Report Abuse

KUALA LUMPUR: The Securities Commission (SC) is planning to adopt the International Sustainability Standards Board's (ISSB) global standards to ensure that sustainability becomes an integral part of local corporations, said chairman Datuk Seri Dr Awang Adek Hussin.

He said that at the same time, the SC intends to customise the standard to align with local requirements.

"Malaysia is at a juncture in its development of domestic renewable energy sources as well as a carbon market, thus, we cannot afford to fall short of the environmental, social and corporate governance (ESG) standards.

"We should make full use of the available opportunities," he said in his opening address at the Business Foresight Forum 2023 here, today.

Awang Adek also lauded the launch of the centralised sustainability reporting platform for Malaysian firms to disclose their ESG data by Bursa Malaysia and the London Stock Exchange, saying that it was a positive move.

Furthermore, he said that the synergies and alignment between the Shariah and ESG principles are naturally compatible.

"Indeed, Malaysia is in a unique position to take the lead in sustainable finance by leveraging its expertise in the Islamic Capital Market (ICM).

"Our regulatory frameworks, such as the Sustainable and Responsible Investment (SRI) Sukuk Framework, SRI-Linked Sukuk Framework, and Waqf-Featured Fund Framework, reflect our commitment to both the sustainability and ICM agendas," he said.

He added that waqf is an innovative solution and social finance catalyst that aligns with this commitment to sustainable practices. - Bernama

Posted by Good123 > 2023-09-14 07:25 | Report Abuse

REWARDS
Trading at 32.6% below our estimate of its fair value

Posted by Good123 > 2023-09-14 07:57 | Report Abuse

Good4picorp in Saudi

Saudi Arabia’s investment promotion agency may open an office in the Greater Bay Area (GBA), expanding its presence in southern China to attract capital, technology and talent to support the kingdom’s Saudi Vision 2030, a key official said.

Posted by Good123 > 2023-09-14 07:57 | Report Abuse

Invest Saudi, a brand overseen by the Saudi Ministry of Investment (MISA), may open an office somewhere in the bay area – the region made up of Hong Kong, Macau and nine Guangdong provincial cities – to augment the promotional mission currently undertaken by its Beijing office, said Saleh Al-Khabti, MISA’s deputy minister for investment transactions.

Posted by Good123 > 2023-09-14 08:42 | Report Abuse

More Good biz potential 4picorp if the project restarts

The previous alignment was to include seven stations in Malaysia, namely Bandar Malaysia, Sepang-Putrajaya, Seremban, Melaka, Muar, Batu Pahat and Iskandar Puteri, before the track from KL reaches its final destination in Jurong East, Singapore.

The total length of the rail line would have been 350km (335km in Malaysia and 15km in Singapore).

Posted by Good123 > 2023-09-14 08:43 | Report Abuse

Awang Adek said the SC intends to customise the standards to align with local requirements.

KUALA LUMPUR: The Securities Commission (SC) is planning to adopt the International Sustainability Standards Board’s (ISSB) global standards to ensure that sustainability becomes an integral part of local corporations, says chairman Datuk Seri Dr Awang Adek Hussin.

He said that at the same time, the SC intends to customise the standards to align with local requirements.

“Malaysia is at a juncture in its development of domestic renewable energy sources as well as a carbon market, thus, we cannot afford to fall short of the environmental, social and corporate governance (ESG) standards.

“We should make full use of the available opportunities,” he said at the Business Foresight Forum 2023 yesterday.

Awang Adek also lauded the launch of the centralised sustainability reporting platform for Malaysian firms to disclose their ESG data by Bursa Malaysia. — Bernama

Posted by Good123 > 2023-09-14 12:32 | Report Abuse

7-8sen, support n resistance level reached.

Winners will be those have holding power, cash is king

Posted by Good123 > 2023-09-14 13:34 | Report Abuse

Double yops pattern back to 35sen later hopefully

Posted by Good123 > 2023-09-14 13:35 | Report Abuse

Reversal patterns are near, oversold

Posted by Good123 > 2023-09-14 14:01 | Report Abuse

price upward till 35sen enters into consolidation 7-8sen, when it leave, another upward trend,. bertahan ya

Posted by Good123 > 2023-09-14 16:18 | Report Abuse

Accumulation stage now, after leaving consolidation, sideway trend, uptrend restarts ... it enters consolidation from uptrend too

Posted by Good123 > 2023-09-15 09:07 | Report Abuse

Perseverance ;)





7201 PICORP PROGRESSIVE IMPACT CORPORATION
Quarterly rpt on consolidated results for the financial period ended 30/06/2023
Quarter: 2nd Quarter
Financial Year End: 31/12/2023
Report Status: Unaudited
Submitted By:
Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period
30/06/2023 30/06/2022 30/06/2023 30/06/2022
RM '000 RM '000 RM '000 RM '000
1 Revenue 22,022 19,900 42,553 42,434
2 Profit/Loss Before Tax 1,223 261 2,514 1,120
3 Profit/(loss) attributable to ordinary equity holders of the parent (372) (1,839) (1,787) (3,482)
4 Net Profit/Loss For The Period 1,275 32 1,672 (229)

Posted by Good123 > 2023-09-15 09:09 | Report Abuse

Patience is gold.

Some traders who work with 'Support and Resistance' can make use of 'sideways movement' to trade. Basically, you buy near the support level (bottom of the sideways trend) and sell it near the resistance level (top of the sideways trend). The longer the sideways trend, the bigger the movement on the upside...

Posted by Dehcomic01 > 2023-09-15 09:12 | Report Abuse

Business has its ups and downs so I look at performance over several years to get a better sense of its earnings potential. The sad thing is that over the past 10 years, the ROE has been declining. Unless you have a strong knowledge about how the company is going to turnaround, there are easier companies to look at from a fundamental angle.

Posted by Good123 > 2023-09-15 09:27 | Report Abuse

Wait for your golden day. :)

The rise of the 50-day moving average above the 200-day moving average is known as a golden cross, and can signal the exhaustion of downward market momentum.

Posted by Good123 > 2023-09-15 09:30 | Report Abuse

The founder's days are numbered, old already, anak2 tak berguna. Appointed a new chairman to help to turnaround or find buyers 😀

@Dehcomic01

Business has its ups and downs so I look at performance over several years to get a better sense of its earnings potential. The sad thing is that over the past 10 years, the ROE has been declining. Unless you have a strong knowledge about how the company is going to turnaround, there are easier companies to look at from a fundamental angle.

17 minutes ago

Posted by Good123 > 2023-09-15 09:35 | Report Abuse

New Chairman, Penyelamat picorp :)


Progressive Impact Corporation Berhad

"Serving Allah, Respect For The People And Environment"


Board Of Directors

*****DATUK SYED HISHAM SYED WAZIR
Chairman, Independent
Non-Executive Director
Male, Age 69, Malaysia

ZAID BIN ABDULLAH
Executive Deputy
Chairman
Male, Age 71, Malaysia

DATO’ DR. LUKMAN BIN IBRAHIM
Group Executive Director
Male, Age 57, Malaysia

ZAIDAH BINTI MOHD SALLEH
Non-Independent
Non-Executive Director
Female, Age 68, Malaysia

DATO’ HAJJAH ROSNANI BINTI IBARAHIM
Independent
Non-Executive Director
Female, Age 69, Malaysia

KAMARUL BAHARIN BIN ALBAKRI
Independent
Non-Executive Director
Male, Age 60, Malaysia

USAMAH BIN ZAID
Alternate Director To
Zaid Bin Abdullah
Male, Age 39, Malaysia

FATIMAH ZAHRAH BINTI ZAID
Alternate Director To
Zaidah Binti Mohd Salleh
Female, Age 38, Malaysia
Management Team

HAMSIAH BINTI KHALID
Group Chief Financial Officer
USAMAH BIN ZAID
Chief Executive Officer
Alam Sekitar Malaysia Sdn. Bhd
DATO’ DR. LUKMAN BIN IBRAHIM
Group Executive Director
Progressive Impact Corporation Berhad
ABDULLAH OMAR
Chief Executive Officer
Saudi Asma Environmental
Solutions LLC
DR. CHIN TEEN TEEN
Chief Executive Officer
ALS Technichem
(M) Sdn. Bhd
& PT. ALS Indonesia

MALIZA BINTI MOHARI
Manager
Secretarial
NIK AZRAN IZHAR BIN NIK AHAMED
Manager
Facilities and Building Maintenance
ABD. RAZAK BIN MASIRUN
Manager II - Group IT Support
AZLI BIN MD ZIN
Group Senior Manager
Legal, Secretarial and Human Capital
AHMAD SHAHDAN BIN KASSIM
Senior General Manager
Research & Development
NADZRAH BINTI HASHIM
Senior General Manager
GED Office
AZIZAH BINTI SALLEH
Senior Manager
Finance
Share this page :FacebookLinkedInTwitterShare
×

DATUK SYED HISHAM SYED WAZIR
Chairman, Independent
Non-Executive Director
Male, Age 69, Malaysia

Date of Appointment: 30 May 2023

Academic/Professional Qualification/Membership(s):

Hastings College of Further Education, UK (1974)
Plymouth University, UK (1979)
Ohio State University, USA (1996)
Fellow of the Institute of Motor Industry (FIMI), United Kingdom
Member of Beta Gamma Sigma of Ohio University
Member of the Ohio University Alumni Society in Malaysia

Experience:
MSM Malaysia Holdings Berhad, Chairman, Independent Non-Executive Director,June 2020 – Present
Bermaz Auto Berhad, Independent Non-Executive Director, December 2016 – Present
SIRIM QAS International Berhad, Independent Non-Executive Director, October 2020 – Present
SIRIM QAS International Berhad, Chairman, November 2017 – September 2020
SIRIM Berhad, Independent Non-Executive Director, July 2017 – September 2019
Puncak Niaga Holdings Berhad, Group Managing Director, November 2015 – July 2016
UMW Holdings Berhad, President & Group Chief Executive Officer, October 2010 – October 2015
Naza Kia Sdn. Bhd. & Naza Kia Services Sdn. Bhd. , Chief Operating Officer, November 2009 – August 2010
Edaran Otomobil Nasional Berhad, Managing Director, May 2005 – August 2009
DRB Hicom Group, Honda Malaysia Sdn. Bhd., President/Chief Operating Officer, 2003 – May 2005
General Manager, Marketing Division, January 2001 – December 2002
DRB-HICOM Export Corporations Sdn. Bhd., General Manager, International Business, April 1998 – December 2000
Proton Cars (UK) Pte. Ltd., Director, 1997 – 1998
Proton Corporations Sdn. Bhd, General Manager, 1995 – March 1998


Progressive Impact Corporation Berhad (PICORP) is a public listed company on the main board of the Bursa Malaysia. Progressive Impact Corporation Berhad (PICORP) Group is Malaysia's Environmental Solution Provider.

Posted by Good123 > 2023-09-15 10:20 | Report Abuse

SINGAPORE (Reuters) - Oil prices rose to their highest level in 10 months on Friday, after China cut banks' cash reserve requirements to boost its economic recovery, and on expectations that major global interest rate hike cycles were nearing their end.

Posted by Good123 > 2023-09-15 10:20 | Report Abuse

Multiplier effects globally.

Analyst Tina Teng at CMC markets said China's reserve requirement cuts were instrumental in lifting energy and industrial metal prices in general, adding that Chinese industrial output and retail sales data could be market movers later on Friday

Posted by Good123 > 2023-09-15 11:06 | Report Abuse

Anak ananda krishnan dah jadi sami buddha, tak tahulah anak pengasas picorp mau jadi guru sekolah pondok tak :)

Tengok latar belakangnya pun dah tahu dah :)

Usamah is the son of Zaid bin Abdullah and Zaidah binti Mohd Salleh and brother of Fatimah Zahrah binti Zaid.
Academic/Professional Qualification/Membership(s):

Master in Business Administration, Management & Science University (2015)
General Islamic Studies, Darul Uloom Zakariya Islamic University, South Africa (2010)
Member of Institute of Corporate Directors Malaysia

Experience:
Chief Executive Officer, Alam Sekitar Malaysia Sdn Bhd (2021 - present)
Deputy Chief Executive Officer, Alam Sekitar Malaysia Sdn Bhd (2020)
Senior General Manager, Zaiyadal (Formerly known as Zaiyadal Keluarga Sdn Bhd) (2020)
Chief Executive Officer, Intelligent Aqua Sdn Bhd (2018 - 2019)
General Manager (Business Development), Alam Sekitar Malaysia Sdn. Bhd (2016 – 2018)
Business Development Executive, Alam Sekitar Eco-Technology Sdn Bhd (2013 – 2016)
Business Development Executive, PJBumi Berhad (2010-2013)
Syariah Advisor to the Group, Progressive Impact Corporation Berhad (July 2010 – October 2010)

Posted by Good123 > 2023-09-15 11:45 | Report Abuse

https://theedgemalaysia.com/node/682338

SC plans to embrace ISSB's sustainability standards
By Bernama / Bernama
13 Sep 2023, 10:52 am
Updated - 12:38 pm

Posted by Good123 > 2023-09-15 12:08 | Report Abuse

Broader Asian markets rose as the People’s Bank of China (PBOC) cut its reserve ratio requirements for local lenders by 25 basis points- its second such move this year. The cut is expected to unlock more liquidity in the Chinese economy, potentially shoring up growth.

Posted by Good123 > 2023-09-15 13:03 | Report Abuse

In key Asian markets, China's composite index rose 0.3% to 3,135 and Hong Kong's Hang Seng climbed 1.7% to 18,347.

Japan's Nikkei rose 1.2% to 33,575 and South Korea's Kospi gained 1.3% to 2,607.

Posted by Good123 > 2023-09-15 13:03 | Report Abuse

KUALA LUMPUR: Bursa Malaysia stayed positive as it headed for the weekend following a positive reaction to better-than-expected Chinese economic data and recent US inflation data that triggered a rally on Wall Street.

Posted by Good123 > 2023-09-15 14:30 | Report Abuse

Yakin sedikit, uem sunrise 20sen+, Kini balik 70sen+

Posted by Good123 > 2023-09-15 14:31 | Report Abuse

Kini sideway trend dan consolidation, bila kembali uptrend, naik gila.

Belajar untuk menjadi lebih sabar dan yakin. ;)

Posted by Good123 > 2023-09-15 15:19 | Report Abuse

mau rezeki dr pasaran saham perlukan kesabaran, bertenang ya!

Posted by Good123 > 2023-09-16 16:08 | Report Abuse

Tiada yg mustahil :)

At home, he said Bursa’s strength can be seen in lower liners. “We now see the next target at 1,480, and it will likely hit the 1,500 level by year end,” he added.

Posted by Good123 > 2023-09-17 09:30 | Report Abuse

KUALA LUMPUR (Sept 16): Optimism about the outlook for US interest rates and China’s improving economic prospects are set to drive Bursa Malaysia higher next week.

Posted by Good123 > 2023-09-17 10:07 | Report Abuse

You are welcome to picorp ;)

KUALA LUMPUR (Sept 15): Chung Chee Yang has ceased to be the substantial shareholder in Cypark Resources Bhd, one year after emerging as the single largest shareholder in the company.

In a bourse filing, Cypark said Chung has disposed of 40 million shares representing a 5.10% stake in the group on Thursday.

The offload amounts to approximately RM31.80 million based on the closing price of 79.5 sen on that day.

This leaves Chung with 37.43 million shares or a 4.77% stake in the renewable energy and solid waste management company.

Chung first emerged as a substantial shareholder in September 2022 when Cypark shares were trading at a low of under 50 sen apiece, amid concerns over its financial position and progress of its waste-to-energy project in Negeri Sembilan at the time.

Since then, Chung has been actively acquiring Cypark shares up until June this year. On June 14, Chung sold 2.80 million shares, leaving him with 77.43 million shares or a 9.90% stake in the group then.

Meanwhile, Pertubuhan Keselamatan Sosial or Perkeso has purchased 2.9 million additional shares in the group, after acquiring 1.40 million shares in the open market on Sept 13 and another 1.50 million shares on Sept 14.

This brings its stake to 6.74% or 52.87 million shares in the group, from 49.98 million shares (a 6.45% stake) last February. Perkeso first emerged as a substantial shareholder in Cypark back in February this year.

Cypark's largest shareholder is Jakel Capital Sdn Bhd, part of Jakel Group, with a 22.51% stake.

Cypark recorded its maiden loss in its quarter ended April 30 due to impairments and provisioning of RM376 million including for the WTE project, which was completed this year.

The group is in the midst of issuing the second tranche of its Perpetual Sukuk Musharakah of up to RM265 million, which will be subscribed by Jakel Capital, to complete two solar power projects in the east coast.

It has expressed confidence of completing the projects by the targeted deadline of December 2023.

At market close, Cypark shares rose 1.5 sen or 1.89% to 81 sen, valuing the group at RM635.63 million.

Posted by Good123 > 2023-09-17 10:42 | Report Abuse

See whether something similar would happen to picorp down :)

KUALA LUMPUR (Sept 16): Siab Holdings Bhd has downsized a proposed rights issue to raise funds for its RM122 million acquisition of Taghill Projects Sdn Bhd.

The group also proposed a 100 million special share issue at 12 sen per share or RM12 million to third-party investors, in its bid to part-fund the acquisition of the G7 contractor, which remains a cash and share deal.

To recap, Siab announced on July 18 it was looking to acquire Taghill Projects for RM122 million, to be fully satisfied via a combination of RM96 million cash and RM26 million via issuance of 200 million Siab shares at 13 sen each to Taghill’s vendors Wong Yih Ming, Chu Yee Hong Yap Kek Siung.

The rights issue, which was downsized from 919.51 million shares, will still be undertaken on full subscription basis with an underwriting agreement for the entire portion, as proposed previously.

It will be on the basis of 13 rights shares for every 10 shares held (13-for-10), as opposed to a 4-for-3 rights issue proposed previously.

The special share issue, which is a new component, was mooted as Siab’s board aimed to vary the fundraising components of the proposal, the company said.

This will “eliminate the risk of Siab being unable to settle the cash consideration in the event of unsuccessful implementation of the proposed right issue with warrants arising from the force majeure clause in the underwriting agreement,” it said.

With the revised rights issue, Siab expects to raise RM103.98 million, from the RM110.34 million estimated previously.

After deducting the RM96 million cash portion to pay for the transaction, a portion of the remaining balance of RM4.1 million will be used for working capital — adjusted lower from RM10.36 million proposed previously — and expenses for the proposals (RM3.89 million, from RM3.98 million).

Siab said the appointment of an underwriter will be finalised at a later date.

The 13-for-one rights issue will come together with 383.26 million detachable warrants on a basis of one warrant for every two rights shares subscribed. The warrants will have an exercise price of 20 sen apiece.

Taghill also owns a 60% stake in Bimtech Solutions Sdn Bhd, which is involved in the provision of building construction services and solutions. It incorporates building information modelling (BIM), that leverages digital technologies from the design stage to post-construction and building management phases, Siab said.

The vendors, it said, have guaranteed a net profit of RM24 million from Taghill over a two-year period in the financial years ending Dec 31, 2024 (FY2024) and FY2025.

Taghill’s fair value stood at between RM99.54 million and RM129.72 million as appraised by Eco Asia Capital Advisory Sdn Bhd, it added.

M&A Securities Sdn Bhd has been appointed as principal adviser while Eco Asia Capital Advisory Sdn Bhd is financial adviser and independent valuer for the proposals.

Barring any unforeseen circumstances, the proposals are expected to be completed by end-2023, Siab said.

Siab’s shares closed 0.5 sen or 4.00% higher at 13 sen, valuing the group at RM61.20 million.

Posted by Good123 > 2023-09-17 18:59 | Report Abuse

KUALA LUMPUR (Sept 15): Bursa Malaysia bounced to close at its intra-day high on Friday as China’s better-than-expected latest economic data lifted regional sentiment.

Posted by Good123 > 2023-09-18 21:04 | Report Abuse

Related esg project, let wait4picorp2get one :)

KUALA LUMPUR (Sept 18): Citaglobal Bhd has entered into a memorandum of understanding (MOU) with China government-linked Shanghai SUS Environment Co Ltd (SUS), with a RM15 billion investment commitment from SUS for joint collaboration and development of waste-to-energy (WTE) projects in Malaysia.

This confirmed a report by The Edge weekly in its latest edition that Citaglobal was expected to sign a new MOU for WTE venture as its management strives to expand the group further.

The MOU’s purpose was to formalise the intention of both parties to explore potential collaboration and assess the feasibility of developing WTE power plants primarily in Malaysia, according to Citaglobal’s stock exchange disclosure on Monday.

Citaglobal said the plan is to divert all waste from unsustainable landfills to WTE plants and holistically resolve waste disposal problems in Malaysia.

The group said this collaboration, if it materialises, will be in line with boosting Malaysia’s renewable energy capacity target from 40% in 2035 to 70% by 2050, as announced in the National Energy Transition Roadmap in July 2023.

Following the execution of this MOU, which is effectively immediately, Citaglobal said it will assume a leading role in the project development of the proposed WTE projects in Malaysia, while SUS will be responsible for financing, building and operating these plants.

SUS is an urban solid waste treatment group incorporated in China, which tops the list of world’s largest environment polluters.

The signing ceremony was held during the 20th China-Asean Expo and China-Asean Business and Investment Summit in Nanning, China, witnessed by leaderships of both parties as well as several members of Malaysian Cabinet, including Prime Minister Datuk Seri Anwar Ibrahim, Minister of Investment, Trade and Industry Malaysia Tengku Datuk Seri Zafrul Abdul Aziz, Minister of Local Government Development Nga Kor Ming and Deputy Minister of Agriculture and Food Security Chan Foong Hin.

Citaglobal disclosed that SUS is a government linked enterprise incorporated in China, with “extensive” experience in urban solid waste treatment, eco-industrial park construction, WTE engineering, procurement, construction, operations and maintenance, agricultural and forestry waste treatment and other fields.

“Together with its Japanese partner, global clean technology giant Hitachi Zosen Corporation, SUS has delivered more than 1,400 WTE plants globally,” said Citaglobal.

Citaglobal’s executive chairman and president Tan Sri Mohamad Norza Zakaria said waste management is crucial for the country as most cities are running out of landfill sites.

“WTE systems not only provide a high value source of renewable energy, but more importantly, its ability to convert waste into ash can significantly reduce the volume of waste that ends up in landfills,” he said.

“We see the development of WTE systems as an overall win-win situation for Malaysia. Besides complementing fossil fuel-based power sources, WTE systems generate renewable energy, reduce landfill requirements, and produce revenue for local municipalities and governments,” said Norza.

Meanwhile, SUS CEO Cindy Li Haiyan said with the company’s track record, it is confident in delivering a “modern, clean and efficient” WTE plant for Malaysians.

“In Malaysia, 38,000 tonnes of solid waste are collected daily and dumped at landfills that occupy 150 acres of land yearly. The Malaysian government has acknowledged this pressing need and has been planning on implementing one WTE plant in every state,” she said.

Citaglobal’s shares were trading one sen or 0.7% higher at RM1.45 at market break, giving it a market capitalisation of RM605.51 million.

Posted by Good123 > 2023-09-18 21:56 | Report Abuse

Keep some ESG related stocks macam picorp... macam property stocks, bila giliran tiba, terbang laju

https://www.nst.com.my/business/esg/2023/09/956544/malaysia-great-solar

Posted by Good123 > 2023-09-19 07:19 | Report Abuse

It will be picorp's turn anymore. Focus on ESG globally

KUALA LUMPUR: Foreign investors on Bursa Malaysia snapped three weeks of net selling to to become net purchasers of local equities to the tune of RM23.1mil.

MIDF Research said in its fund flow report offshore funds had started the week with net outflows, but changed gears to become net buyers of Malaysian equities from Wednesday to Friday.