Capital markets executive summary | Fri 25 Aug 2023 Sime Darby to take over UMW Sime Darby Berhad will buy 61.18% of UMW Holdings Berhad from parent Permodalan Nasional Bhd (PNB) for RM3.57b or RM5 per share, 8.2% premium to the RM4.62 close. A mandatory general offer (MGO) will follow for the remaining 38.82% to…
Capital markets executive summary | Thu 24 Aug 2023 KLK is taking over Boustead Plantations Kuala Lumpur Kepong Bhd (KLK) will buy 33% of Boustead Plantations from Lembaga Tabung Angkatan Tentera (LTAT), which will retain a 35% stake. Boustead Holdings, wholly-owned by LTAT, owns 57.42% of Boustead Plantations while LTAT directly has 10.59%. Upon completion,…
Capital markets executive summary | Wed 23 Aug 2023 Solar projects lift Solarvest’s 1Q net profit Solarvest Holdings Bhd’s net profit jumped 56.54% from RM4.28m in 1Q ended 30 Jun 2022 to RM6.70m in 1Q ended 30 Jun 2023. Earnings per share increased from 0.6 sen to 1 sen. Revenue almost trebled from RM52.66m to…
Capital markets executive summary | Tue 22 Aug 2023 Sime Darby Property issues RM600m sukuk Sime Darby Property Bhd made the 2nd issuance from its RM4.5b sukuk musharakah programme. It comprised 3-year RM200m Asean Sustainability SRI sukuk, 5-year RM300m sukuk and 7-year RM100m sukuk. Malaysian Rating Corporation Bhd affirmed the sukuk musharakah programme’s rating of…
Capital markets executive summary | Mon 21 Aug 2023 SSF Home signs underwriting agreement with M&A Securities The furniture and home living products retailer signed the agreement for its initial public offering (IPO) and listing on the ACE Market. The company will issue 200m new shares while its shareholders will offer for sale 24m existing…
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…