Trading ideas: IJM, Capital A, TNB, Bursa, MAA, Infomina, Microlink, YTL, Perak, JagaSolution, UUE, Meridian, PeterLabs

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

IJM Corporation Bhd has secured a RM873.9mn contract from Pearl Computing Malaysia Sdn Bhd for the mechanical and electrical fit-out works of a hyperscale data centre at Elmina Business Park, Selangor.

Capital A Bhd announced that all conditions for its aviation restructuring have been met or waived, paving the way for the consolidation of all AirAsia-branded airlines under AirAsia X Bhd.

Malaysia will focus on a mix of solar and gas-fired power generation as it transitions away from coal, said Tenaga Nasional Bhd’s chief executive officer, Datuk Megat Jalaluddin Megat Hassan, adding that renewable energy would help keep costs down.

Bursa Malaysia Bhd is on track to meet its target of 60 IPOs this year, supported by sustained investor confidence and a robust pipeline of companies seeking to raise capital on the local exchange, said chief executive officer Datuk Fad’l Mohamed.

MAA Group Bhd said KNM Group Bhd's extraordinary general meeting to vote on the proposed sale of its German unit will proceed as planned, despite Bursa Malaysia Securities Bhd's attempt to restrain it through legal action.

Infomina Bhd said its Philippine unit is facing a counterclaim of RM225.7mn from the Bank of the Philippine Islands, following Infomina’s own lawsuit over the alleged wrongful termination of a contract in September 2022.

Microlink Solutions Bhd said its external auditor, Baker Tilly Monteiro Heng PLT, has issued a qualified opinion relating to the group’s write-off of software development expenditure totalling RM76.1mn for its extended 15-month FY25.

YTL Corporation Bhd’s subsidiary, YTL Hotels and Properties Sdn Bhd, has made investments amounting to NZD160.0mn (RM388.0mn) as it acquired the 225-room Hotel Indigo in Auckland, marking its first hotel investment in New Zealand.

Bursa Malaysia has issued an unusual market activity query to Perak Corporation Bhd following a sharp rise in the company’s share price and trading volume recently.

JagaSolution Bhd’s external auditor, Crowe Malaysia PLT, has highlighted a material uncertainty regarding the company’s ability to continue as a going concern in its audited financial statements for FY25.

UUE Holdings Bhd has accepted a RM26.7mn contract from Sutera Utama Sdn Bhd for underground cable installation works related to Tenaga Nasional Bhd’s asset development project.

Practice Note 17 company Meridian Bhd has obtained a further extension of time from Bursa Malaysia Securities to submit its regularisation plan.

PeterLabs Holdings Bhd’s substantial shareholders, former executive director Datuk Loh Saw Foong and his wife Datin Lin Ching Yein, have agreed to repurchase the company’s 60% stake in its subsidiary Thye On Tong Trading Sdn Bhd and to repay inter-company debt owed by the unit as part of a settlement agreement with the company.