Trading ideas: TNB, LBS Bina, Cahya Mata, Paramount, SkyWorld, UUE, Magma, Paragon, TXCD, Fibromat

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

Tenaga Nasional Bhd said the hearing of its application for leave to proceed with a judicial review over a RM291.6mn income tax bill has been postponed from 14 April to 30 June.

LBS Bina Group Bhd announced a first interim dividend of 1.0sen/share, along with a final dividend of 1.1sen/share for FY24. The group had previously paid a special dividend of 2.6sen/share on 30 December 2024, bringing total dividend for FY24 to 4.7sen/share.

Cahya Mata Cement Sdn Bhd, a wholly owned subsidiary of Cahya Mata Sarawak Bhd, is seeking approval from the Sarawak government to commence the development of a new facility, Clinker Line 2, in Mambong.

Paramount Corporation Bhd said its 70.0%-owned unit, Tanah Bayumas Sdn Bhd, and 2 others are being sued over its RM145.0mn purchase of a luxury condominium site in Taman U-Thant.

SkyWorld Development Bhd has entered into a memorandum of understanding with Dong Me Kong Construction Manufacture Trading Service Co Ltd and Phu My Development Investment Joint Stock Company, to negotiate on developing a residential project in Ho Chi Minh City, Vietnam.

UUE Holdings Bhd’s Singaporean subsidiary has secured a S$8.4mn in Singapore from Weng Guan Technology Pte Ltd to provide materials, tools, labour, equipment, and other necessary accessories for the installation of high-density polyethylene pipes using the horizontal directional drilling method.

Magma Group Bhd announced that its proposed acquisition of 5 parcels of land in Tioman Island for the development of a resort has lapsed, following the expiry of conditions precedent set out in the sale and purchase agreements.

Paragon Globe Berhad is collaborating with GreenRE Sdn Bhd, reinforcing its strong commitment towards sustainable and environmentally friendly property development.

Practice Note 17 construction outfit TXCD Bhd has accepted a RM85.5mn subcontract from Vestland Resources Sdn Bhd to undertake a construction project in Bandar Subang Jaya, Selangor.

Geotechnical services provider Fibromat (M) Bhd on 11 April 2025 launched the prospectus for its initial public offering on the ACE Market, pricing the IPO at 55sen/share to raise RM17.8mn.