Capital markets executive summary | Tue 5 Sep 2023 FGV gets 5th extension from Bursa on public spread The Federal Land Development Authority (Felda) initiated the privatisation of FGV Holdings Bhd in Dec 2020 at RM1.30 per share. When it closed in Mar 2021, Felda was short of the 90% shareholding to trigger compulsory share…
Capital markets executive summary | Mon 4 Sep 2023 Hibiscus and DNeX buy interest in UK oil field Hibiscus Petroleum Bhd and Ping Petroleum UK PLC, a subsidiary of Dagang NeXchange, entered into separate identical farm-in agreements with Rapid Oil Production Ltd for 42.5% equity interest each in Licence P2451. Rapid Oil will keep the…
Capital markets executive summary | Fri 1 Sep 2023 Ekovest plans fundraising via private placement for RTS Link project In Jul 2022, wholly-owned Ekovest Construction Sdn Bhd accepted a RM1.98b letter of award as the engineering procurement and construction contractor from Adil Permata Sdn Bhd, the main contractor of the RM3.7b project. Adil Permata was…
Capital markets executive summary | Wed 30 Aug 2023 Evergreen Max Cash Capital to raise RM64.2m in IPO The pawnbroker launched its prospectus to list on the ACE Market on 26 Sep. RM30m of the proceeds is additional capital for the pawnbroking business, RM20m for 5 new pawnshops by end-2024, and RM14.2m for the repayment…
Capital markets executive summary | Tue 29 Aug 2023 Mercury Securities to list on the ACE Market on 19 Sep The first stockbroking company in an initial public offering (IPO) in 20 years will raise RM39.27m by issuing 157.09m new shares at 25 sen for an enlarged base of 893m shares according to its prospectus….
Capital markets executive summary | Mon 28 Aug 2023 TNB and Indonesia’s PLN to study subsea power grid link Tenaga Nasional Bhd and PT Perusahaan Listrik Negara (Persero) signed a memorandum of understanding to jointly study connecting the peninsular Malaysia and Sumatra power grids across the Strait of Malacca via the first subsea cross-border interconnection…
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…