KUALA LUMPUR (March 7): Based on corporate announcements and news flow on Monday, companies in focus on Tuesday (March 8) may include: LBS Bina Group Bhd, KPJ Healthcare Bhd, Sarawak Oil Palms Bhd (SOPB), Sarawak Plantation Bhd, CB Industrial Product Holding Bhd, Siab Holdings Bhd, Ancom Bhd, Nylex (Malaysia) Bhd, Willowglen MSC Bhd, LKL International Bhd, Vizione Holdings Bhd, Samaiden Group Bhd, Omesti Bhd and Jerasia Capital Bhd (JCB).
Billionaire Tan Sri Dr Lim Wee Chai has ceased to be a substantial shareholder of LBS Bina Group Bhd after disposing of 51.56 million shares in the property
group. The direct business transaction took place on March 4. Bloomberg data shows that some 51 million shares changed hands at 45 sen, compared with the closing price of 51 sen, on that day. Following the disposal on March 4, Lim still has 54.89 million shares in LBS Bina.
Healthcare provider KPJ Healthcare Bhd has issued sukuk wakalah amounting to RM650 million in nominal value under its RM3 billion Sukuk Wakalah programme. KPJ said the issuance of the RM650 million sukuk wakalah was done on Monday via its wholly-owned subsidiary Point Zone (M) Sdn Bhd. Proceeds from the issuance shall be utilised by KPJ to fund amongst others, Shariah-compliant financing activities comprising the expansion, working capital requirements and general corporate purposes of the KPJ group’s healthcare and healthcare-related businesses.
Sarawak Oil Palms Bhd (SOPB) has proposed a bonus issue of up to 303.14 million shares on the basis of one bonus share for every two existing shares held, on an entitlement date to be announced later.
Urusharta Jamaah Sdn Bhd (UJSB), the government's special-purpose vehicle set up to take over Lembaga Tabung Haji's (LTH) underperforming assets, has trimmed its stake in Sarawak Plantation Bhd. UJSB's stake in the plantation company dropped below 5%, after it disposed of 266,100 shares on March 2. Based calculation done on the back of an envelope, following the disposal, UJSB still has 13.85 million shares in the plantation group.
CB Industrial Product Holding Bhd has terminated the sale of its 70% stake in biodiesel producer Gulf Lubes Malaysia Sdn Bhd (GLM) to Kaashi Viswehswara Minerals Pvt Ltd, after the Indian firm failed to pay the balance deposit within time. The palm oil equipment maker had announced the sale of the 70% stake in GLM for RM55 million three months ago to resolve the management deadlock at the subsidiary.
Recently listed Siab Holdings Bhd has inked a memorandum of understanding (MoU) with Koperasi Peserta-Peserta Felcra Malaysia Bhd (KPFB) to undertake a joint development with a gross development value of RM400 million on freehold Malay reserved lands in Selangor owned by the latter. Siab said its wholly-owned subsidiary Siab Development Sdn Bhd has inked the MoU with KPFB for the rights to develop the lands, measuring 32,248.34 square metres, which are located in the Gombak district.
Ancom Bhd has proposed a distribution of up to 18.4 million shares or a 10.24% stake in Nylex (Malaysia) Bhd to Ancom shareholders by way of dividend-in-specie. The chemical manufacturer said the distribution of one Nylex share for every 20 Ancom shares held offers shareholders an opportunity to invest directly in Nylex at no cost. Ancom also proposed a share split involving the subdivision of every one share into three shares.
Integrated computer systems design company Willowglen MSC Bhd said its unit Willowglen (Malaysia) Sdn Bhd has secured a contract worth about RM32.63 million from Majubina Resources Sdn Bhd. The contract is for the design, build and transfer of infrastructures capable of supporting 37 telecommunication towers at various sites in Sabah.
Hospital bed maker LKL International Bhd is acquiring 250 million shares at an issue price of eight sen each, representing a 12.21% stake in Vizione Holdings Bhd, for RM20 million cash. LKL’s wholly-owned unit LKL Advance Metaltech Sdn Bhd (LKLAM) purchased Vizione shares through the subscription of the excess rights shares that come with free warrants issued under the latter’s one-for-one rights issue with free detachable warrants on the basis of one warrant for every two rights shares.
LKLAM will also receive 125 million free Warrants E from Vizione. The patient bed manufacturer said the stake purchase provides LKL with the opportunity to venture into the manufacturing of rubber gloves and condoms, which is complementary and synergistic to its business.
Samaiden Group Bhd has partnered with Tokyo-listed engineering firm Chudenko Corp to explore opportunities in the renewable energy (RE) sector in the Malaysian and overseas markets. Under a business collaboration agreement, the two companies will jointly invest or participate in a joint venture in RE projects, including rooftop solar energy projects, for Japanese customers and collaborate on the implementation of technologies for the operation and maintenance of RE
projects.
Technology group Omesti Bhd said it is expanding its portfolio of healthcare services with the establishment of two strategic joint venture companies (JVCs), leveraging the group’s digitalisation track record. Omesti said the first JVC with Medical Innovation Ventures Sdn Bhd (Mediven) was established to set up and operate a diagnostic and testing laboratory that performs polymerase chain reaction testing for definitive detection of coronavirus infections, among other services. The second JVC was established with Tree Med Sdn Bhd, a company engaged in the supply of medical and laboratory equipment.
Jerasia Capital Bhd (JCB), which is predominantly engaged in garment manufacturing and retail operations, announced that three of its wholly-owned subsidiaries had applied for a judicial management order to facilitate restructuring and regularise their finances. JCB said Jerasia Fashion Sdn Bhd, Jerasia Apparel Sdn Bhd and Canteran Apparel Sdn Bhd had been operating under adverse financial and operational conditions since the outbreak of the Covid-19 pandemic.