KUALA LUMPUR (Oct 23): Based on corporate announcements and news flow today, stocks in focus on Wednesday (Oct 24) may include Digi.Com Bhd, Dagang Nexchange Bhd (DNex), EITA Resources Bhd, Chin Hin Group Bhd, Lotte Chemical Titan Holding Bhd and London Biscuits Bhd.
DiGi.Com Bhd’s wholly-owned subsidiary Digi Telecommunications Sdn Bhd said it is upsizing its broadband quota offering by up to 50%.
In a statement today, DiGi said the new set of offerings is applicable to both new and existing customers.
DiGi said total quota upgrades have been increased from 15GB to 25GB for the Broadband Monthly 45 plan, from 35GB to 50GB for the Broadband Monthly 65 plan, and from 75GB to 100GB for the Broadband Monthly 105 plan.
In addition, DiGi said all existing Digi Postpaid subscribers will enjoy RM5 or RM10 lifetime discounts when they sign up for Digi Home Broadband, potentially bringing home internet access to an affordable price of RM40 monthly.
Digi's move came after Putrajaya's push for more affordable broadband offerings in Malaysia without compromising network quality.
Dagang Nexchange Bhd (DNeX) has signed a contract to provide solid expandable tubulars to the North Malay Basin gas development for US$5 million.
DNeX’s 80% owned unit DNeX Oilfield Services Sdn Bhd entered into the service contract with Hess Exploration and Production Malaysia BV. DNeX said the contract is expected to last for one year.
Eita Resources Bhd has bagged a contract form Tenaga Nasional Bhd (TNB) for a 132kV double circuit underground cable project in Ampang. The contract, worth RM56.36 million, was awarded to Eita Resources Bhd’s 60%-owned unit, Transsystem Continental Sdn Bhd, the group said in a stock exchange filing today.
The contract, to be completed within 730 days, is expected to contribute positively to Eita’s earnings over the duration of the job, it added.
Chin Hin Group Bhd has proposed to acquire Kempurna Sdn Bhd (Kempurna), a metal doors and window frames manufacturer, for RM4.14 million cash.
In a filing with Bursa Malaysia today, Chin Hin said its wholly-owned subsidiary Midah industries Sdn Bhd has entered into a share sale agreement with Kempurna. The sellers are three individuals, Cheong Nam, Wong Tuck Fock and Ng Moy Ying, who currently hold all the shares in Kempurna.
Chin Hin said the acquisition will enable the group to enhance its involvement in the door manufacturing business. The purchase will be funded from internally-generated funds, it added.
Barring any unforeseen circumstances, the group said the acquisition is expected to be completed by the fourth quarter of 2018.
Lotte Chemical Titan Holding Bhd’s wholly-owned subsidiary Lotte Chemical Titan (M) Sdn Bhd had awarded two contracts to parties related to the group.
In a stock exchange filing today, LCTH said one of the contracts was awarded to Lotte Engineering and Construction Co Ltd for offshore engineering and procurement of a new boiler and ancillary equipment to facilitate the high pressure steam production in its Pasir Gudang complex for a total value of RM47.3 million.
The second contract was given to Lotte E&C Malaysia Sdn Bhd for onshore engineering, onshore procurement and construction of a new boiler and ancillary equipment at the same complex for a total value of RM20.4 million.
Lotte Chemical Corporation, a major shareholder of LCTH, owns 43.79% of LEC, while LECM is a wholly-owned subsidiary of LEC, and LCTM is a wholly-owned subsidiary of LCTH.
London Biscuits Bhd has proposed the issuance of one bonus share for every four existing shares held at an entitlement date to be determined.
The group said the one-for-four bonus (1-for-4) issuance will enable shareholders to have greater participation in its equity, while retaining their percentage of equity interest held. The issuance is also to raise the number of issued shares, which may potentially improve the stock's liquidity, London Biscuits said in a stock exchange filing.
The issuance will comprise up to 61.55 million bonus shares, on the basis of one bonus share for every four existing shares held at an entitlement date to be determined later, the filing added.
Following the issuance, the group’s enlarged issued share capital after the bonus issue can go up to 333.64 million shares.
The group expects the bonus issuance to be completed by the end of 2018.