Perdana Petroleum, MISC, PetDag, PetGas, MTAG, IHH and FGV

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KUALA LUMPUR (Dec 9): Based on corporate announcements and news flow today, companies in focus tomorrow could include: Perdana Petroleum Bhd, MISC Bhd, Petronas Dagangan Bhd (PetDag), Petronas Gas Bhd (PetGas), MTAG Group Bhd, IHH Healthcare Bhd and FGV Holdings Bhd. 

Perdana Petroleum Bhd has bagged two work orders from Petronas Carigali Sdn Bhd, Petroliam Nasional Bhd (Petronas)’s exploration arm, for the provision of two anchor handling tug and supply (AHTS) vessels for RM36 million. 

The group said its wholly-owned unit Perdana Nautika Sdn Bhd (PNSB) received the two one-year work orders, each with an estimated contract value of RM18 million, from Petronas Carigali. 

"PNSB shall provide the AHTS vessels with crews and equipment to perform 24-hour services for assisting and/or servicing drilling rigs, offshore installation, derrick barges, towing and anchor jobs," the group said. 

Perdana Petroleum added that the contract is expected to contribute positively to its earnings for the financial year ending Dec 31, 2019 (FY19) and during the duration of the contract. 

Meanwhile, Petronas said it has successfully completed block trades of its shares in MISC Bhd, Petronas Dagangan Bhd (PetDag) and Petronas Gas Bhd (PetGas), with the shares sold to Malaysian institutional funds. 

The national oil major said the trades were carried out as part of its portfolio management strategy and that the sale of shares would also allow for more local participation and ownership in the companies. 

While it did not reveal details of the sale of shares, Bloomberg reported Petronas raised about RM6 billion from cutting its stakes in the companies and said the group is raising capital to fund overseas expansion, noting it intends to allocate a larger share of its future capex to projects in the Americas. 

MTAG Group Bhd is buying two pieces of freehold industrial land that span 12.1 acres collectively in Plentong, Johor, for RM24.56 million. 

MTAG said its managing director Chaw Kam Shiang was granted an option to purchase the two plots from Brilliant Propel Sdn Bhd, and Chaw has agreed to assign all his rights under the option to MTAG.  

“MTAG expects to execute the sale and purchase agreement for the proposed acquisition, before the expiry of option on March 31, 2020,” it said.  

IHH Healthcare Bhd’s non-interested shareholders and proxies have voted 99.99% in favour of the proposed RM1.02 billion acquisition of Prince Court Medical Centre from Khazanah Nasional Bhd.  

Following the vote at an extraordinary general meeting, IHH expects the acquisition to be completed in the first quarter of 2020.

IHH Malaysia operations division chief executive officer Joe Sim said with a broader network and stronger cluster of specialised tertiary hospitals in the Klang Valley, supported by a deeper clinical talent pool, IHH can offer a wider array of services and take on more complex cases. 

FGV Holdings Bhd said it is unaware of any proposals and discussions about tycoon Tan Sri Syed Mokhtar Al-Bukhary buying a stake in the plantation group. 

“FGV wishes to clarify that after checking with its Board of Directors and Senior Management, it is unaware of the proposals and discussions described in the articles,” the group said. 

"FGV strives to create value for its stakeholders and explore all opportunities that would benefit the group and its shareholders," it added. 

FGV said it was referring to media reports that said Syed Mokhtar was taking up a stake in FGV.