Trading ideas: CIMB, PMM, Astino, Cahya Mata, WCE, Salcon, GDB, Ho Hup, MMHE, HHRG, Paradigm-REIT, KIP-REIT

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

CIMB Group Holdings Bhd has committed RM10bn in funding facilities to drive economic integration and unlock cross-border opportunities in the Johor-Singapore Special Economic Zone.

Panasonic Manufacturing Malaysia Bhd announced that gas supply to both its manufacturing plants in Shah Alam had fully resumed as of yesterday, following the earlier disruption caused by the gas pipeline incident on April 1.

Astino Bhd is to acquire an 85,615.3-sq-m land in Seberang Perai Selatan, Penang, for RM30.4mn.

Cahya Mata Sarawak Bhd has clinched a RM550mn contract from the Sarawak state government to construct the Borneo Convention Centre Kuching II, in Kuching, Sarawak.

WCE Holdings Bhd’s 80%-owned subsidiary West Coast Expressway Sdn Bhd has received the Malaysian government’s approval to accept a term loan facility of up to RM1.3bn from Bank Pembangunan Malaysia Bhd.

Salcon Bhd said it is pushing to grow its existing healthcare and renewable energy segments and is proposing to include the two into its principal activities.

GDB Holdings Bhd said it has secured a court enforcement order on its RM59.3mn adjudication award against KSK Land Sdn Bhd’s unit Damai City Sdn Bhd, over outstanding payments for construction work carried out on the 8 Conlay project.

Practice Note 17 company Ho Hup Construction Co Bhd is seeking a court order to facilitate the restructure of its debt after defaulting on loan facilities last week.

Malaysia Marine and Heavy Engineering Holdings Bhd’s wholly-owned unit received a notice of arbitration from its subcontractor Haumea Offshore Sdn Bhd in relation to the Bokor Phase 3 redevelopment project in Sarawak.

HHRG Bhd has extended chief executive officer Fong Chee Khuen’s suspension by two more weeks until May 4, pending the outcome of an internal investigation over alleged misconduct.

Paradigm Real Estate Investment Trust has signed an underwriting agreement with three investment banks ahead of its proposed listing on the Main Market of Bursa Malaysia.

KIP Real Estate Investment Trust recorded a 35.1% YoY increase in its net property income to RM13.8mn for the 3QFY25.