Trading ideas: Affin Bank, Hong Leong Bank, BTM, Jasa Kita, Greatech, Meta Bright, Hextar REIT, MRCB, Econpile, SkyGate

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

Affin Bank Bhd has been upgraded from ‘A’ to ‘AA’ in the Morgan Stanley Capital International environmental, social and governance ratings.

Hong Leong Bank Bhd and Hong Leong Islamic Bank Bhd will revise their lending and deposit rates by 25 bps, effective July 14.

BTM Resources Bhd has scrapped its 7MW renewable energy power plant project, citing difficulties in securing financing and rising project costs.

Jasa Kita Bhd's substantial shareholders Tan Sri Tan Hua Choon and Datuk Seri Tan Han Chuan, who collectively hold 181.3mn shares or 40.3% equity interest, have inked a conditional share sale agreement with Kintan Prima Sdn Bhd for their stake at RM68.9mn cash or 38 sen a share.

Greatech Tech Bhd said GTech Holdings Sdn Bhd has transferred its 57.7% stake in the automated machinery group to GTech's two shareholders.

Meta Bright Group Bhd has sold its wholly-owned Australian subsidiary, Meta Bright Australia Pty Ltd, for RM25.4mn as part of a strategic shift towards strengthening domestic operations.

Hextar Real Estate Investment Trust said it has entered into a deal to buy two parcels of leasehold land in Melaka, totalling 41.8 acres, for RM40mn.

Malaysian Resources Corp Bhd, through its wholly owned subsidiary Country Annexe Sdn Bhd, has entered into a joint venture development agreement with Ipoh Sentral Sdn Bhd to undertake the proposed Ipoh Sentral project in Ipoh, Perak.

Econpile Holdings Bhd's wholly owned subsidiary, Econpile (M) Sdn Bhd, has secured a RM98.2mn construction contract from Eastmont Sdn Bhd for a proposed industrial development in Klang, Selangor.

SkyGate Solutions Bhd said it is raising its stake in SkyGate Integration Sdn Bhd (formerly Leader Range Technology Sdn Bhd) to 95% by acquiring another 44% stake for RM9.8mn via a share issuance deal.