Bumi Armada, Yenher, AmBank, Ekovest, Kelington, Solarvest, BJCorp, BJLand, BJToto, KAB, Ireka, Nexgram, Malakoff and Media Prima

Bumi Armada, Yenher, AmBank, Ekovest, Kelington, Solarvest, BJCorp, BJLand, BJToto, KAB, Ireka, Nexgram, Malakoff and Media Prima
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KUALA LUMPUR (July 15): Based on corporate announcements and news flow today, companies in focus tomorrow (July 16) may include: Bumi Armada Bhd, Yenher Holdings Bhd, AmBank (M) Bhd, Ekovest Bhd, Kelington Group Bhd, Solarvest Holdings Bhd, Berjaya Corp Bhd, Berjaya Land Bhd, Berjaya Sports Toto Bhd, Kejuruteraan Asastera Bhd, Ireka Corp Bhd, Nexgram Holdings Bhd, Malakoff Corp Bhd and Media Prima Bhd.

Bumi Armada Bhd has appointed former Employees Provident Fund CEO Tunku Alizakri Alias as an independent director effective today. The 51-year-old has 20 years of experience in senior management and board-level roles in multiple sectors and industries, which include retirement fund, financial services, central banking, healthcare, media and telecommunication, plantation, oil and gas, and property development.

Yenher Holdings Bhd ended its maiden trading day at 90 sen, five sen or 5.26% lower compared with its initial public offering (IPO) price of 95 sen. The animal health and nutrition product manufacturer, the third IPO on the Main Market this year, saw 61.83 million shares change hands, equivalent to almost 58% of 106.9 million shares Yenher offered for the listing exercise. The stock opened at 99.5 sen, a 4.74% premium over its IPO price, and climbed to a high of RM1, but soon pared gains to a low of 87.5 sen within the first trading hour.

AmBank (M) Bhd, via its Labuan offshore branch, has initiated a fresh statutory demand against Singapore-listed Falcon Energy Group Ltd to seek from the latter a loan repayment sum of US$24.28 million (RM101.88 million). Falcon Energy chairman and chief executive officer Tan Pong Tyea said in a filing with the Singapore Exchange that the oil and gas support services provider had received the statutory demand from the solicitors of AmBank’s Labuan offshore branch.

Ekovest Bhd said it will not proceed with its Heads of Agreement with Iskandar Waterfront Holdings Sdn Bhd (IWH) to buy into the Bandar Malaysia project, following the lapse of Putrajaya's RM7.4 billion sale of 60% in the project to a joint venture of IWH. On Wednesday, it was announced
that IWH-CREC Sdn Bhd's proposed acquisition of 60% in Bandar Malaysia from the Ministry of Finance's TRX City Sdn Bhd for RM7.4 billion lapsed in May as the parties involved did not meet the conditions precedent for the deal. IWH-CRECis a 50:50 joint venture between IWH and China  Railway Engineering Corp (M) Sdn Bhd.

Kelington Group Bhd said its wholly-owned subsidiary Kelington Technologies Sdn Bhd has secured from Stolthaven (Westport) Sdn Bhd a RM50 million contract to construct oil products storage tanks at Port Klang. The 15-month project is expected to be completed by October 2022.

Solarvest Holdings Bhd said its wholly-owned subsidiary has secured a contract worth RM87.5 million for a large-scale solar photovoltaic (PV) plant in Kulim, Kedah. Its unit Atlantic Blue Sdn Bhd has been appointed the main engineering, procurement, construction and commissioning contractor for the 20.76MW plant and received the project from Energy ES Sdn Bhd.

Berjaya Corp Bhd (BCorp) plans to privatise subsidiary Berjaya Land Bhd (BLand) and sell Berjaya Sports Toto Bhd (BToto) under the diversified group's strategic transformation plan, which includes a proposed hospitality real estate investment trust. BCorp group CEO Abdul Jalil Abdul Rasheed said the group has not set a timeline to privatise BLand but he hopes BCorp will "do it sooner rather than later".

Kejuruteraan Asastera Bhd (KAB) plans to raise RM106.13 million via a private placement for its renewable energy business and the repayment of bank borrowings. KAB said it would be issuing 169.18 million shares or 10% of its total share capital of 1.69 billion shares for private placement. The shares will be placed to third party investors.

Ireka Corp Bhd has secured a construction project in Terengganu worth RM124.39 million. The group said the contract from Wanland Metro Sdn Bhd involves the construction of two blocks of 16-storey apartment, single storey terrace houses, double storey terrace houses and double storey
shophouses at Dendong in Besut district.

Nexgram Holdings Bhd has received Putrajaya's nod for its digital system TracAPM to be commissioned as the official digital system for the quarantine management of inbound travellers. In a statement today, Nexgram said the services include travellers' quarantine management at all international borders, quarantine station management, and quarantine transport management.The official acceptance was received by Tri-G Technologies Sdn Bhd, an indirect 51%-owned subsidiary of Nexgram.

Malakoff Corp Bhd is buying a parcel of leasehold industrial land in Klang from Media Prima Bhd for RM25 million. The land deal came roughly two weeks after Media Prima announced its plan to buy back the freehold property in Bangsar where its Balai Berita headquarters is located from Permodalan Nasional Bhd for RM156.4 million. The price tag is higher than the RM118.7 million tag at which Media Prima sold to PNB in 2018.

The two companies have a common shareholder, Tan Sri Syed Mokhtar Al-Bukhary.

Malakoff said its wholly-owned unit Alam Flora Environmental Solutions Sdn Bhd isbuying the Klang land from Media Prima’s wholly-owned unit The New Straits Times Properties Sdn Bhd.

S Kanagaraju