KUALA LUMPUR (Dec 20): Based on corporate announcements and newsflow today, stocks in focus on Monday (Dec 23) might be as follows: Brahim’s Holdings Bhd, OCK Group Bhd, Pestech International Bhd and Petronas Gas Bhd

Brahim’s Holdings Bhd has signed a Heads of Agreement (HoA) with frozen food manufacturer MRI VC Bhd for the latter to acquire a substantial stake in the former. The HoA details Brahim’s potentially conducting a private placement and a rights issue, both of which MRI VC would take part in. MRI VC is also paying an RM2 million deposit for the Brahim’s shares it plans to buy. In addition, the agreement stipulates that Brahim’s will award monthly contracts with an aggregate value of up to RM500,000 each, over two years to MRI VC, if it takes up the stake.

No details were provided over the size of the stake and how much Brahim’s plans to raise from the exercises.

Brahim’s is also preparing to submit its regularisation plan to Bursa Malaysia by Feb 27, 2020, to leave its PN17 status and said by earliest it would be able to exit PN17 status by 3Q19.

OCK Group Bhd is buying out renewable energy power generation company Green Leadership Sdn Bhd for RM31.65 million cash. Upon the the completion of the acquisition, Green Leadership will become an indirect subsidiary of OCK — whick is funding the move via equity funding. The move was done to strengthen and drive its green energy segment.

Separately, it denied paying an RM50,000 bribe to former Malaysian Communications and Multimedia Commission (MCMC) deputy director Mohd Iskandar King who is facing three counts of bribery amounting to RM87,000.

Pestech International Bhd has clinched a US$17.03 million (RM70.5 million) engineering, procurement and construction contract from PNG Power Ltd (PPL) for the latter’s Port Moresby Power Grid Development Project in Papua New Guinea. This is the third contract awarded by PPL to Pestech, with the first two being in 2008 and 2016.

The Energy Commission (EC) has approved new gas tariffs for three of Petronas Gas Bhd’s facilities for two years starting Jan 1, 2020.

The tariff has been set at RM1.129 per gigajoule (/GJ) for its Peninsular Gas Utilisation facility or PGU, at RM3.455/GJ for its Regasification Terminal Sg Udang in Melaka, and at RM3.485/GJ for its Regasification Terminal Pengerang in Johor.

PGU's  current tariff is RM1.072/GJ, Melaka’s Regasification Terminal Sg Udang stands at  RM3.518/GJ. The rate at the Regasification Terminal Pengerang, Johor, was reported to be US$0.637 per million British thermal unit (mmBtu).