Trading ideas: Gamuda, MAHB, Chin Hin, Scientex, LBS Bina, MRCB, TMC Life, Taghill, AmanahRaya REIT, SCIB, TCS, ICT Zone

KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.

A joint venture between Gamuda Bhd and Ferrovial has inked an early contractor involvement agreement with Capricornia Energy Hub for a hydroelectric storage project in Queensland, Australia.

The takeover of the remaining shares by the joint offerors for Malaysia Airports Holdings Bhd’s shares on behalf of Gateway Development Alliance Sdn Bhd, Pantai Panorama Sdn Bhd, Kwasa Aktif Sdn Bhd and Gip Aurea Pte Ltd has reached 92.8%, exceeding the 90.0% threshold.

Chin Hin Group Bhd has proposed to increase its stake in Ajiya Bhd by another 12.3% to 66.4% through the acquisition of 38.4mn additional shares for RM54.2mn.

Packaging manufacturer and developer Scientex Bhd is acquiring 528.5 acres of land in Paya Rumput, Melaka for RM333.8mn cash from Genting Plantations Bhd.

LBS Bina Group Bhd has successfully issued the second tranche of Asean Social SRI Sukuk Wakalah, amounting to RM400.0mn in nominal value under its existing RM750mil Sukuk Wakalah Programme, which is rated AA-IS with a stable outlook by MARC Ratings Bhd.

Malaysian Resources Corporation Bhd is partnering with Melaka Corporation to develop a hospital on a parcel of land in Melaka Tengah that will have an estimated gross development cost of RM520.0mn.

TMC Life Sciences Bhd warned that it expects to report a loss for the 2QFY25, compared to the net profit recorded in the same period last year.

Taghill Holdings Bhd’s wholly-owned subsidiary Taghill Projects Sdn Bhd has accepted a letter of award from Kuantan Waterfront Resort City Sdn Bhd for the proposed development of a commercial strata scheme worth RM152.0mn in Kuantan, Pahang.

AmanahRaya Real Estate Investment Trust has terminated its plan to sell the Contraves building in Cyberjaya due to a failed condition precedent.

Sarawak Consolidated Industries Bhd said that the project developer for the now-scrapped civil servants housing project in Perak, Awana JV Suria Saga Sdn Bhd has disagreed with the repayment terms, and denied the outstanding debt it owed to the group.

James Liew Vun Tak has become a substantial shareholder in TCS Group Holdings Bhd after acquiring an 11.9% stake from the company's managing director Datuk Ir Tee Chai Seng.

ICT Zone Asia Bhd, a technology financing solutions provider, has received approval from Bursa Malaysia to transfer its listing from the LEAP Market to the ACE Market.