MYEG, AirAsia, Boustead Plantations, Cahya Mata, MHB, CTOS Digital, IOI Corp, Inari, Tiong Nam and Scanwolf

MYEG, AirAsia, Boustead Plantations, Cahya Mata, MHB, CTOS Digital, IOI Corp, Inari, Tiong Nam and Scanwolf
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KUALA LUMPUR (Aug 6): Based on corporate announcements and news flow today, companies that may be in focus on Monday (Aug 9) include: MyEG Services Bhd, AirAsia Group Bhd, Boustead Plantations Bhd, Cahya Mata Sarawak Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd, CTOS Digital Bhd, IOI Corp Bhd, Inari Amertron Bhd, Tiong Nam Logistics Holdings Bhd and Scanwolf Corp Bhd.

MyEG Services Bhd will be introducing decentralised finance (DeFi) products in Malaysia to provide cryptocurrency services to users of digital asset exchanges which are licensed as recognised market operators locally and abroad. MyEG said the service will enable holders of cryptocurrency to enter into smart contracts for the purposes of borrowing cryptocurrency or lending against their cryptocurrency assets.

AirAsia Group Bhd’s e-wallet unit BigPay has secured up to US$100 million in financing from South Korean conglomerate SK Group to further its mission to become the leading challenger bank in Southeast Asia. With the funds, the company intends to expand its product sets, along with growing the model to new markets, said BigPay co-founder and chief executive officer Salim Dhanani.

Sabah UMNO Youth chief Abdul Aziz Julkarnain has resigned as an independent and non-executive director of Boustead Plantations Bhd. Abdul Aziz, 43, has quit "to pursue other interests", marking less than one year's service since his appointment on Sept 1, 2020.

Meanwhile, Cahya Mata Sarawak Bhd’s (CMS) non-independent and non-executive director Datuk Isaac Lugun is retiring effective tomorrow.

The Malaysian Arbitral Tribunal has dismissed Kebabangan Petroleum Operating Co Sdn Bhd's (KPOC) claim against Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) for alleged loss of revenue totalling RM28.03 million. However, in its final award, the Arbitral Tribunal ordered MHB to pay KPOC a higher sum of RM28.09 million as damages for the cost expenses incurred by KPOC and for the latter's legal fees and expenses.

CTOS Digital Bhd has increased its stake in Thailand’s Business Online Public Company Ltd to 22.65% from 20% previously as part of its efforts to expand its foothold in the country’s business decision-making solutions market. The credit reporting agency said it has acquired 2.65% or 21.74 million shares via a direct business transfer on the Thailand stock exchange for a purchase consideration of THB208.7 million (RM26.8 million).

IOI Corp Bhd's share price closed up one sen or 0.27% at its intraday high today of RM3.71 after erasing losses as the oil palm plantation company resumed its share buy-back and as higher crude palm oil prices supported industry sentiment. IOI Corp said it bought another 120,000 shares on the open market for RM442,813.96 at minimum and maximum prices of RM3.67 and RM3.70 a share respectively.

Inari Amertron Bhd sustained its strong performance in the fourth financial quarter ended June 30, 2021, as net profit more than doubled to RM88.67 million from RM35.47 million a year ago, on higher sales across all segments led by radio frequency business. Revenue rose 54.85% to RM361.32 million, from RM233.34 million. The group has proposed a fourth interim dividend of 2.5 sen per share, bringing the total for the full year to 11 sen per share — up from 4.4 sen per share in the previous year.

Tiong Nam Logistics Holdings Bhd’s subsidiary Tiong Nam Logistics Solutions Sdn Bhd (TNLS) is buying two plots of vacant land measuring 20 hectares and five hectares  respectively in Johor Bahru from Senai Airport City Sdn Bhd for a collective RM136.38 million to construct a warehouse. Tiong Nam said TNLS today entered into two agreements with Senai Airport City for the purchase of the two plots of industrial freehold land within Senai Airport City’s Free Commercial Zone.

Scanwolf Corp Bhd said today its rights issue of Irredeemable Convertible Unsecured Loan Stocks (ICULS) with warrants at 10 sen per rights share was oversubscribed by 101.85% and has raised RM10.5 million. The plastic extrusions manufacturer and property developer the ICULS and warrants are expected to be listed and quoted on the Main Market of Bursa Securities on Aug 9. According to the group, subscribers are also entitled to one warrant for every two ICULS subscribed.

S Kanagaraju