Ekovest, MN Holdings, DRB-HICOM, MMAG Holdings, Capital A, Sime Darby Property, AmBank, Orgabio, Sunsuria

Ekovest, MN Holdings, DRB-HICOM, MMAG Holdings, Capital A, Sime Darby Property, AmBank, Orgabio, Sunsuria
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KUALA LUMPUR (July 5): Here is a brief overview of notable corporate announcements and news flow for Tuesday (July 5), which include Ekovest Bhd, MN Holdings Bhd, DRB-HICOM Bhd, MMAG Holdings Bhd, Capital A Bhd, Sime Darby Property Bhd, AMMB Holdings Bhd, Orgabio Holdings Bhd and Sunsuria Bhd.

Ekovest Bhd's wholly-owned subsidiary Ekovest Construction Sdn Bhd (ECSB) bagged a RM1.98 billion award for appointment as the collaborating partner and engineering, procurement and construction contractor of the Rapid Transit System Link.

MN Holdings Bhd secured a RM26.9 million underground utilities contract in Kulim Hi-Tech Park, Kedah after its unit Mutu Nusantara Sdn Bhd accepted a letter of award from Pembinaan Tajri Sdn Bhd to be the subcontractor of the project, which is expected to be completed in August 2023.

MN Holdings said under the contract, Mutu Nusantara will provide horizontal directional drilling construction works for the installation of 132kV power cables and fibre optic cables to connect a multinational corporation's high-end integrated circuit substrates manufacturing facility to a new gas insulated substation.

DRB-HICOM Bhd's 50.1%-owned Proton Holdings Bhd targets to resolve 90,000 units of outstanding orders for its vehicles by the first quarter of 2023 after it saw a 300% booking surge in the final week before the sales and services tax (SST) exemption ended compared with in the weeks earlier.

Proton also said its new engine assembly line in Tanjung Malim, Perak, operational from April, is capable of producing 180,000 units of three-cylinder 1.5 turbo gasoline direct injection engines a year for local and export markets.

MMAG Holdings Bhd is selling a 4,777-square-metre land located in Hicom Glenmarie Industrial Park in Shah Alam, Selangor, together with a two-storey warehouse and three-storey office building on it, for RM20.2 million cash to KGW Logistics (M) Sdn Bhd by the fourth quarter of 2022.

The group said proceeds from the disposal will be mainly used for working capital, repayment of borrowings and to fund any future expansion.

Capital A Bhd has entered into a wet lease agreement, effective from July 1 to Oct 31, with AirAsia X Bhd for the former to lease an Airbus A330-343 aircraft with complete crew, maintenance and insurance.

Capital A said its wholly-owned subsidiary AirAsia Bhd will pay a total estimated consideration of US$3.84 million (RM16.91 million), exclusive of 6% SST, for the leasing of the aircraft.

Sime Darby Property Bhd and AMMB Holdings Bhd (AmBank) have inked a memorandum of understanding to offer homebuyers a green financing solution for the purchase of Sime Darby Property's homes, providing Sime Darby Property's customers a "special rate" of as low as 2.95%, subject to interest rate movements.

The pair have also collaborated to provide financing to end buyers for industrial products located in Elmina Business Park, offering up to 200% margin of advance for small and medium enterprises.

Newly listed Orgabio Holdings Bhd made a firm debut on the ACE Market, opening 16% above its reference price of 36 sen, and touched an intraday high of 40 sen before ending the day at 34 sen.

Orgabio was the top active counter on Bursa Malaysia and saw 101.98 million shares change hands, bringing a market capitalisation of RM84.28 million. Orgabio said it intends to further expand its customer base in the direct selling segment by securing more local and overseas direct selling companies as new customers.

Sunsuria Bhd entered into a strategic partnership with the UK's Concord College International Ltd to establish and operate Concord College International in Sunsuria City, Selangor, with first intake to commence in September 2024.

The development will cost below RM100 million, inclusive of 10 acres of land. Sunsuria said it will be taking care of the hardware, while Concord College International will be taking care of the academy.

Ahmad Naqib Idris