Capital markets executive summary | Fri 18 Aug 2023 Supercomnet’s transfer to Main Market approved Supercomnet Technologies Bhd became the first company to be listed on the ACE Market in Apr 1999. Its market capitalisation has risen more than 7-fold from RM144.08m to RM1.06b. The company received the approval from Bursa Malaysia for the transfer…
Capital markets executive summary | Thu 17 Aug 2023 UEM buys majority stake in Cenergi from Khazanah UEM Group Bhd bought the shares in the sustainable energy solutions company to grow its renewable energy (RE) business. Cenergi was incorporated in 2008 and is Malaysia’s largest grid-connected palm oil mill effluent biogas player. The company portfolio…
Capital markets executive summary | Wed 16 Aug 2023 Glostrext Bhd closed at 32% premium on ACE Market The stock closed at 25.5 sen after opening at 65 sen or 342% above its 19 sen initial public offering (IPO) price on opening. Trading volume was 306.62m shares. The listing offers the company greater financial flexibility…
Capital markets executive summary | Tue 15 Aug 2023 MOHA cancelled Iris’ NIIse contract Wholly-owned Iris Information Technology Systems Sdn Bhd (IITS) was the appointed developer of the National Integrated Immigration System (NIISe). The notice of termination from the Ministry of Home Affairs (MOHA) is dated 10 Aug. The RM1.16b NIISe contract was awarded to…
Capital markets executive summary | Mon 14 Aug 2023 ACE Market-listed Cnergenz to transfer to Main Market The electronic manufacturing solutions provider debuted on the ACE Market in May 2022 at an initial public offering (IPO) price of 58 sen. The transfer will enhance the company’s credibility and reputation that reflect its existing institutional shareholding…
Capital markets executive summary | Fri 11 Aug 2023 IHH buys Bedrock Healthcare for RM245m Wholly-owned subsidiary Pantai Holdings Sdn Bhd entered into a share purchase agreement with Saravita Holdings Sdn Bhd and 9 individual founders for the entire equity interest in Bedrock Healthcare Sdn Bhd. Bedrock owns Timberland Medical Centre in Kuching, Sarawak and…
Capital markets executive summary | Thu 10 Aug 2023 Hup Seng 2Q income up 3-fold The company’s net profit rose from RM3.04m to RM8.72m in 2Q ended 30 Jun 2023 as revenue climbed 10.5% from RM73.81m to RM81.54m. Earnings per share accordingly surged from 0.38 sen to 1.09 sen. Domestic sales expanded 11% or RM6.3m…
Capital markets executive summary | Wed 9 Aug 2023 Risk of cross-default for Country Garden’s sukuk emerges RAM Ratings assigned a AA3 rating to the RM1.5b Islamic medium term notes issued by Country Garden Real Estate Sdn Bhd (CGRE) in 2015. In Dec 2022, the rating agency placed the sukuk on negative outlook. The sukuk…
Capital markets executive summary | Tue 8 Aug 2023 Eve Energy breaks ground on Kulim lithium battery factory The global lithium battery manufacturer held the event for its facility with an initial investment of USD422m (RM1.92b). The factory will be Eve’s 53rd and will produce cylindrical lithium-ion batteries for power tools and electric two-wheelers manufactured…
Capital markets executive summary | Mon 7 Aug 2023 Kawan Renergy plans ACE Market listing The engineering solutions provider and independent power producer involved in power generation and the sale of electricity had its draft prospectus published on Bursa’s website. The initial public offering (IPO) entails the issuance of 110m new shares and offer for…