Parkson, Kumpulan H&L High-Tech, Muda Holdings, TM, UMS Holdings, Straits Inter Logistics, Hextar Global, Teladan Setia, AirAsia, Pasukhas Group, VSolar and Johan Holdings

Home » Parkson, Kumpulan H&L High-Tech, Muda Holdings, TM, UMS Holdings, Straits Inter Logistics, Hextar Global, Teladan Setia, AirAsia, Pasukhas Group, VSolar and Johan Holdings

KUALA LUMPUR (July 12): Based on corporate announcements and news flow today, companies in focus on Tuesday (July 13) may include: Parkson Holdings Bhd, Kumpulan H&L High-Tech Bhd, Muda Holdings Bhd, Telekom Malaysia Bhd, UMS Holdings Bhd, Straits Inter Logistics Bhd, Hextar Global Bhd, Teladan Setia Group Bhd, AirAsia Group Bhd, Pasukhas Group BhdVSolar Group Bhd and Johan Holdings Bhd.

Parkson Holdings Bhd’s 54.97%-owned Hong Kong-listed subsidiary Parkson Retail Group Ltd (PRGL) has inked a 20-year tenancy agreement for a commercial space measuring  39,966 sq m in the city of Yichun, China. The agreement with landlord Yichun Hong Lin Hotel Co Ltd is in respect of the tenancy of the first to fourth floors of Hong Lin World City and some shops there.

Kumpulan H&L High-Tech Bhd said it is in the final stage of negotiating for an investment property purchase, and is exploring options to develop its landbank, in response to Bursa Malaysia’s unusual market activity query. The plastic injection moulding solutions provider, which recently proposed a share split, said the investment property purchase is estimated at RM13.88 million.

Muda Holdings Bhd’s indirect 70%- owned subsidiary Intrapac (Singapore) Pte Ltd has disposed of its 16.88% stake in KL Resources Pte Ltd for S$3.997 million (RM12.34 million) cash to generate funds for working capital. Upon completion of the disposal, Intrapac Singapore will have a balance of 84,413 ordinary shares representing 16.88% of the issued share capital of KL Resources.

Tan Sri Mohd Bakke Salleh has resigned as chairman of Telekom Malaysia Bhd (TM) and will step down from the role effective July 31. The group has appointed Khazanah Nasional Bhd’s board member Datuk Mohammed Azlan Hashim as its new chairman, effective Aug 1.

UMS Holdings Bhd, whose share price hit limit up today, told Bursa Malaysia that it is not aware of any corporate development that would have caused the unusual market activity. The industrial spare parts distributor said it is not aware of any corporate development, rumour, report and explanation that may account for the group’s trading activity.

Straits Inter Logistics Bhd said Victoria STS (Labuan) Sdn Bhd, an indirect subsidiary of the group, has received a letter of approval from the Marine Department Malaysia for the development of a ship-to-ship energy transshipment hub to provide and carry out liquid cargo transfer activities in Labuan. Victoria is a 70%-owned subsidiary of Fajar Maritime and Logistics Sdn Bhd, which is in turn a 60%-owned subsidiary company of Straits Inter Logistics.

Hextar Global Bhd has acquired chemical derivatives, coating and related products manufacturer and supplier Nobel Group for RM105 million. The group said the acquisition comes with a profit guarantee of an aggregate of RM42 million over three years which translates into an after-tax profit of RM14 million per year.

Teladan Setia Group Bhd has today proposed a bonus issue on the basis of three warrants for every 10 shares held to reward its shareholders. In a statement, the Melaka-based property developer said the exercise entails the issuance of 241.59 million warrants, with the exercise price of the warrants to be determined late.

It also said the entitlement date for the exercise will be determined and announced later.

AirAsia Group Bhd is making a cash call to its shareholders to raise up to RM1.02 billion to recapitalise the low-cost carrier that is hard hit by the Covid-19 pandemic, like its peers in the aviation industry. The airline has proposed to undertake a renounceable two-for-six rights issue of redeemable convertible unsecured Islamic debt securities (RCUIDS), on the basis of two RCUIDS with one free detachable warrant for every six AirAsia shares held. Each RCUIDS will be priced at a nominal value of 75 sen. The RCUIDS come with a seven-year tenure and a profit rate of 8% per year.

Pasukhas Group Bhd and Vsolar Group Bhd have inked a collaborative agreement to provide engineering, procurement, construction, and commissioning (EPCC) services to the solar farm industry. In a joint statement, the two companies said their partnership is to cater to the swathe of solar projects they expect will come onstream over the next 24 months. The companies will combine their resources to create a project management, execution and ongoing management team to cater for any upcoming large scale solar project that requires a turnkey operator.

Johan Holdings Bhd gained RM210.85 million from the disposal of its entire equity interest in Diners Club (Singapore) Pte Ltd and subsidiary DinersPay Pte Ltd, resulting in estimated net assets per share of 32.25 sen. Johan Holdings said the group disposed of the interest  to Ezy Net Pte Ltd for RM313.98 million. TheEdge