Trading ideas: PetGas, Eco World, AME Elite, Sime Darby Property, YTL Comms, Ho Hup, Econpile, Iris, Careplus, Jaycorp, CIMB

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

Petronas Gas Bhd has established an independent taskforce for the Putra Heights pipeline incident, led by an independent non-executive director, to ensure the highest standards of safety and integrity in its operations.

Eco World Development Group Bhd, SD Guthrie Bhd and Negeri Sembilan state agency NS Corporation have formed a joint venture to develop the RM3bn Eco Business Park VII in Negeri Sembilan's Malaysia Vision Valley 2.0.

AME Elite Consortium Bhd’s wholly-owned subsidiary, AME Capital Sdn Bhd, has issued RM300mn in Islamic medium-term notes under its RM1.5bn IMTN programme.

Sime Darby Property Bhd has launched its Vision Business Park in Negeri Sembilan, with a projected gross development value of RM2.4bn.

YTL Communications Sdn Bhd, a 60%-owned unit of YTL Power International Bhd, has been appointed by Railway Assets Corp to develop fibre optic infrastructure along 1,600km of railway track from Perlis to Johor and Kelantan.

Ho Hup Construction Company Bhd and its wholly-owned subsidiary Bukit Jalil Development Sdn Bhd have defaulted on term loan facilities amounting to RM112.7mn.

Econpile Holdings Bhd's wholly-owned subsidiary Econpile (M) Sdn Bhd is undertaking a subcontract for piling and substructure works for a proposed commercial development in Section 44, Japan Ampang, in Kuala Lumpur for RM35.8mn.

Iris Corp Bhd has proposed an internal reorganisation to create a new holding company, to separate the group's investment holding function from its operating businesses.

Careplus Group Bhd plans to raise between RM8.0mn and RM55.4mn through a rights issue to complete phase one of its new energy vehicle manufacturing hub in Chembong, Negeri Sembilan.

Jaycorp Bhd via its 60%-owned subsidiary Jaycorp Green Energy Sdn Bhd has awarded a RM40.6mn engineering, procurement, construction and commissioning contract to Wasco Thermal Sdn Bhd for the construction of a new biomass boiler system in Jalan Besi, Pasir Gudang Industrial Zone, in Johor.

CIMB Group Holdings Bhd has appointed Wut Thanittiraporn as the new president and CEO of CIMB Thai Bank, replacing Paul Wong Chee Kin, whose four-year secondment to Thailand is coming to an end.