Trading ideas: Sunway, KLK, Scientex, Vantris, Maxim, Ecoscience, Takaful, Zetrix, PBA, Bursa

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

Sunway Bhd’s indirect wholly-owned subsidiary Sunway Property & Facility Management Sdn Bhd is proposing to acquire a 40% stake in Engie-Sunway DCS Sdn Bhd from Sunway SK Sdn Bhd for RM11mn to strengthen its earnings prospects.

KLK Land, a wholly-owned subsidiary of Kuala Lumpur Kepong Bhd, has launched KLK TechPark, a 1,500-acre integrated industrial hub in Tanjong Malim, with Chinese automotive giant BYD confirmed as the anchor investor for Phase 1.

 

Scientex Bhd, the major shareholder of Scientex Packaging (Ayer Keroh) Bhd, has served a letter of offer requesting Scientex Packaging to undertake a selective capital reduction and repayment exercise amounting to RM147.8mn.

Vantris Energy Bhd, formerly known as Sapura Energy Bhd, has denied that it is the subject of a Malaysian Anti-Corruption Commission investigation, following the agency’s announcement that it will forfeit RM12mn linked to funds allegedly misused by an undisclosed party in 2018.

 Maxim Global Bhd has inked a sale and purchase agreement with Magna Tiara Development Sdn Bhd to acquire a freehold office tower in Old Klang Road, Kuala Lumpur, for RM29.5mn, to house its new office.

Ecoscience International Bhd, a turnkey contractor that specialises in palm oil mills and related facilities, has secured a RM40mn construction job for a palm oils and fats refinery plant in Johor.

Syarikat Takaful Malaysia Keluarga Bhd is broadening its portfolio beyond its core strengths in credit-related products and motor takaful by introducing individual life protection offerings.

Zetrix AI Bhd has inked a Letter of Intent with the government, via the Prime Minister's Department (Religious Affairs), to develop a Syariah compliance, certification and governance framework for AI.

PBA Holdings Bhd has secured approval to acquire a 4.1-acre site in George Town for RM20mn, after the Penang state government agreed to cut the land premium by RM35.4mn.

 

Bursa Malaysia Securities Bhd has publicly reprimanded Ecobuilt Holdings Bhd for failing to make an immediate announcement of the winding-up order dated July 24, 2024, against the company.

Bursa Malaysia Securities has reprimanded Fitters Diversified Bhd and fined five of its current and former directors RM400,000 each for failing to comply with requirements for immediate disclosure and shareholder approval for related-party transactions involving the company's acquisition of shares in Computer Forms (M) Bhd.