KUALA LUMPUR (April 22): Based on corporate announcements and news flow today, stocks in focus on Tuesday (April 23) may include: Bina Puri Holdings Bhd, Seacera Group Bhd, Gadang Holdings Bhd, Iskandar Waterfront City Bhd, Ekovest Bhd, Sinotop Holdings Bhd, Chemical Company of Malaysia Bhd, Axiata Group Bhd, Velesto Energy Bhd and TDM Bhd.
Bina Puri Holdings Bhd has won an arbitration case against the Pakistan National Highway Authority (NHA) in a dispute relating to the termination of an RM864 million highway concession agreement.
Its subsidiary, Bina Puri Pakistan Private Ltd, had commenced the arbitral proceedings against NHA in April 2013, claiming the termination of the agreement to be unlawful.
Seacera Group Bhd’s unit Duta Skyline Sdn Bhd has entered into a joint venture agreement with Amazing Symphony Sdn Bhd, a subsidiary of OCR Group Bhd, for a mixed development in Semenyih which has a potential gross development value (GDV) of RM10 billion.
The plan will entail the development of landed residential homes, landed commercial shop units, high-rise strata developments, hospitals, schools, hotels and malls, among other components.
Duta Skyline will be entitled to 22% of the GDV for all low-rise landed developments and 18% of GDV for all high-rise strata development.
Responding to a news article today, Gadang Holdings Bhd clarified that it has not submitted any official tender for the East Coast Rail Link (ECRL) project at this juncture.
The group reiterated that its wholly-owned subsidiary Gadang Engineering (M) Sdn Bhd had entered into a pre-bid consortium agreement with DWL Resources Bhd's wholly-owned Million Rich Development Sdn Bhd, to jointly bid for infrastructure projects.
Iskandar Waterfront City Bhd (IWCity) and Ekovest Bhd, who both saw their shares surge today on optimism that they would benefit from the revival of Bandar Malaysia, have denied that they are involved in the reinstatement of the project.
Both the companies went on to advise investors to exercise caution and to make informed decisions in the trading of their shares and warrants.
Trading in the shares of Sinotop Holdings Bhd will be suspended tomorrow pending an announcement relating to a "very substantial acquisition" to be made by the company.
Chemical Company of Malaysia Bhd (CCM) has accepted a Letter of Award from Petroliam Nasional Bhd (Petronas) to supply up to 351,000 tonnes of caustic soda to the latter’s subsidiary for an estimated RM351.9 million.
Axiata Group Bhd’s 80%-owned unit Ncell Private Ltd is challenging the decision of the Nepali tax authorities to charge the company 39.06 billion Nepalese rupees (RM1.45 billion) as capital gain tax (CGT).
Axiata said Necell has submitted a writ petition with the Supreme Court of Nepal against the country’s Large Taxpayer Office (LTPO) as well as its Inland Revenue Department and Ministry of Finance.
Velesto Energy Bhd has bagged four contracts from Petronas Carigali Sdn Bhd with an estimated combined value of US$104.68 million (about RM433.07 million).
The group’s wholly-owned subsidiary Velesto Malaysia Ventures Sdn Bhd received four Letters of Award for the provision of jack-up drilling rig services for its jack-up rigs.
TDM Bhd is disposing of a piece of leasehold land in Besut, Terengganu, to Lembaga Tabung Amanah Warisan Negeri Terengganu (LTAW) for RM12 million.
Under the agreement, a 25% deposit of RM3 million is to be paid to TDM upon execution of the sale and purchase agreement while the 75% balance is to be paid to the company's solicitors as stakeholder upon completion of the land transfer to LTAW.