Trading ideas: Kerjaya Prospek, Marine & General, Chin Well, LSH, PetGas, MSC, KJTS, Khee San, Aemulus, Tek Seng, Ge-Shen, HHRG, SumiSaujana, SPB

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

Kerjaya Prospek Group Bhd, via its wholly owned unit Kerjaya Prospek (M) Sdn Bhd, has secured a RM291.43mn contract from Persada Mentari Sdn Bhd to develop a 50-storey service apartment in Bandar Tanjung Pinang, Pulau Andaman, Pulau Pinang.

Marine & General Bhd is acquiring a clean petroleum product tanker from Muhibbah Engineering Bhd’s wholly owned unit, Muhibbah Marine Engineering Sdn Bhd, for RM55.19mn.

Chin Well Holdings Bhd clarified that the 24% and 46% reciprocal tariffs on Malaysia and Vietnam will not apply to its fastener and wire products imported into the US. However, these products will still be subject to a 25% tariff under Section 232 of the US Trade Expansion Act 1962, effective from 26 Mar 2025.

Lim Seong Hai Capital Bhd announced that its 70%-owned subsidiary, LSH Service Master Sdn Bhd, has filed a police report against Hydroshoppe Sdn Bhd over the ongoing dispute regarding the Kuala Lumpur Tower concession.

Petronas Gas Bhd is assessing the financial and operational impact of the gas pipeline fire incident at Putra Heights, Selangor and is cooperating with authorities to identify the root cause, with the investigation expected to conclude by May 2025.

Malaysia Smelting Corp Bhd reported a disruption in tin metal production at its Port Klang smelter due to interrupted gas supply following a pipeline explosion in Putra Heights but it is not expected to significantly affect earnings for FY2025.

KJTS Group Bhd, via Thai unit KJTN Engineering, has secured a 20-year ROT contract worth THB372.56mn (RM48.3mn) to upgrade the chilled water plant at Centara Grand Beach Resort & Villas Hua Hin in Thailand.

Khee San Bhd said its manufacturing facilities were affected by the recent gas supply curtailment following the Putra Heights pipeline blast and has implemented contingency plans and holds sufficient inventory to meet demand until the April 20 deadline.

Aemulus Holdings Bhd, via its wholly owned unit Aemulus Corp Sdn Bhd, has signed an MoU with Samsung Electro-Mechanics Co Ltd to jointly develop a silicon capacitor test system.

Tek Seng Holdings Bhd has proposed to diversify into property investment as part of its long-term strategy to enhance profitability and improve shareholder returns.

Ge-Shen Corp Bhd has appointed former Johor state executive councillor Datuk Tee Siew Kiong as non-executive chairman, effective immediately, following the resignation of Datuk Keh Chuan Seng in Mar 2025.

HHRG Bhd has suspended CEO Fong Chee Khuen for two weeks with immediate effect, pending an internal probe into alleged misconduct that may have breached company policies and his employment contract.

SumiSaujana Group Bhd, ahead of its ACE Market debut this month, has entered into an agreement with the Malaysian Palm Oil Board to manufacture and market palm-based intermediates and polyols for industrial use globally.

SPB Development Bhd has entered into an underwriting agreement with Hong Leong Investment Bank Bhd for its upcoming IPO on the Main Market of Bursa Malaysia, targeted for 2Q25.