KUALA LUMPUR (Feb 11): Based on corporate announcements and news flow today, companies that may be in focus on Tuesday (Feb 12) may include the following: Eastern & Oriental Bhd (E&O), Scientex Bhd, Daibochi Bhd, UOA Development Bhd, Kelington Group Bhd, Hock Seng Lee Bhd, Globaltec Formation Bhd, Berjaya Sports Toto Bhd, Malaysia Airports Holdings Bhd, Tiger Synergy Bhd and Barakah Offshore Petroleum Bhd.
Eastern & Oriental Bhd (E&O) aims to raise as much as RM550.3 million via a private placement and renounceable rights issue to fund its property development projects, which consists of Phase 2 of its Seri Tanjung Pinang reclamation and property development project (STP2), as well as the upcoming residential property projects in Kuala Lumpur such as The Conlay and The Peak.
The proposed private placement will involve the issuance of up to 10% of E&O’s issued share capital, which currently stands at 1.31 billion stocks, E&O said.
Meanwhile, the renounceable rights issue will include free detachable warrants on an issue price and basis to be determined later.
Scientex Bhd is eyeing to launch RM1 billion worth of affordable properties during the current financial year (FY19), similar to last year's target.
Its unbilled sales currently stand at RM500 million as at 1QFY19.
Scientex had also obtained shareholders’ approval at its Extraordinary General Meeting for the acquisition of a 42.4% controlling stake in Daibochi Bhd for RM221.1 million from certain shareholders of Daibochi.
The purchase of 139.1 million shares would be satisfied by the issuance of 25.1 million Scientex shares, with a share exchange ratio of one new ordinary Scientex share for every 5.535 Daibochi shares held.
UOA Development Bhd said two of its wholly-owned units, Windsor Triumph Sdn Bhd and Sunny Uptown Sdn Bhd have been served with notices of additional assessment for additional income tax and penalties totalling RM39.62 million.
The notices were served for the year of assessment 2013 by the Inland Revenue Board, it said.
It said that its subsidiaries have appealed to dispute the notices of additional assessment.
Kelington Group Bhd said its unit Kelington Engineering (S) Pte Ltd (KE Singapore) has secured a turnkey construction and engineering services contract in Singapore worth S$31 million (RM93 million).
It said KE Singapore will be involved in the design and construction of an Ultra High Purity (“UHP”) electronics special gases plant in Singapore.
The work scope includes mechanical and electrical jobs, as well as the supply of the UHP process system for the plant.
Hock Seng Lee Bhd has received two letters of acceptances from Sarawak Energy Bhd for RM54.3 million worth of power plant projects in Mukah.
The scope of works include pilling, earth works, infrastructure works, building works for staff accommodation and related amenities, as well as the associated mechanical and electrical works.
Globaltec Formation Bhd’s Australia-listed unit NuEnergy Gas Ltd has signed a gross split production sharing contract (PSC) for its Muralim PSC with the Indonesian Ministry of Energy and Mineral Resources.
The gross split PSC replaces Indonesia’s previous cost recovery scheme for oil and gas contractors in favour of a higher contract share of revenues.
Berjaya Sports Toto Bhd (BToto) has inked an agreement to set up a joint-venture company to explore business opportunities as well as to undertake projects in Sri Lanka.
Its unit, FEAB Equities Sdn Bhd, entered into the shareholders agreement with PP Cylabs (M) Sdn Bhd (PPC) today on a 50:50 joint venture basis to set up the JV company.
Malaysia Airports Holdings Bhd (MAHB) recorded a 3.1% growth year-on-year in total passenger movements to 11.1 million in January compared with the same month last year.
This boosted passenger movements over a 12-month period by 3.7% to a record high of 133.5 million, it said.
“The 11.1 million passenger movements is above the general norm for MAHB’s network of airports, considering January is generally a low travelling month,” it said, adding that such performance was only recorded during the peak seasons of 2018.
Tiger Synergy Bhd has entered into a binding term sheet for the proposed acquisition of the entire equity interest in MQ Holdings Limited for not less than HK$15 million (RM7.79 million).
The sale consideration shall be satisfied with the the combination of cash and issuance of new shares in the issued and paid-up capital of Tiger Synergy to the QST, Tiger Synergy said.
Tiger Synergy is buying MQ Holdings from Quest Investments Limited (QST), which is also a wholly-owned subsidiary of latter.
Barakah Offshore Petroleum Bhd has bagged a Farm-In Agreement from IPC Malaysia BV. The contract is for Barakah to provide maintenance, construction and modification services in the oil & gas fields offshore of Peninsular Malaysia to IPC Malaysia’s client, Pan Malaysia.
The tenure of the contract is from November 2018 to July 2023. The contract value was not stated.