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…
Capital markets executive summary | Fri 4 Aug 2023 Infineon to invest EUR5b in Kulim Germany-based global semiconductor giant Infineon Technologies AG will build the world’s largest 200mm silicon carbide (SiC) power fabrication plant at a cost of RM24.9b over the next 5 years. The company said the investment will generate EUR7b in revenue by…
Capital markets executive summary | Thu 3 Aug 2023 Hibiscus Petroleum gets consent for Teal West field development Its subsidiary Anasuria Hibiscus UK Limited received development and production works consent for a field development plan (FDP) for the Teal West field from the North Sea Transition Authority (NSTA). It paves the way for the internal…
Capital markets executive summary | Wed 2 Aug 2023 KGW ends listing day with 9.52% premium The freight services provider debuted on the ACE Market up 2 sen over its initial public offering (IPO) price of 21 sen. The most active counter with 180.39m shares changing hands hit an intraday high of 25 sen. The…
Capital markets executive summary | Tue 1 Aug 2023 Great Eastern in talks to buy AmMetLife The Oversea-Chinese Banking Corp subsidiary is conducting due diligence on AmMetLife Insurance Bhd and seeking regulatory approval. The transaction could value the company, which US-based MetLife Inc jointly owns with AMMB Holdings Bhd, at USD250m-USD300m. The parties could reach…