Gamuda Bhd has earmarked RM2 billion investments in the renewable energy (RE) space in Malaysia and beyond that will be spread across the next five financial years. Gamuda's top executives said it did not need to raise funds externally for the RM2 billion. (NST)
Tenaga Nasional Bhd (TNB) expects Imbalance Cost Pass-Through (ICPT) to amount to RM16.4 billion for the implementation period of January to June 2023 (1H2023), versus RM7 billion in 2H2022, according to analysts. (TheEdge)
Lotte Chemical Titan Holding Bhd (LCT) and Petronas Chemicals Group Bhd (PCG) are expected to remain under pressure due to petrochemicals' price dynamics, CGS-CIMB Research said. The research firm said LCT is the weaker of the two companies as it is exposed to naphtha feedstock costs that remain high amid weakening selling prices for polyethylene, polypropylene and mono-ethylene glycol. (NST)
Sapura Energy Bhd is expected to continuously review or defer its engineering and construction (E&C) projects to next year, given the prevailing high cost of material prices, Public Investment Bank Bhd (PublicInvest) Research said. (NST)
Vestland Bhd has inked an agreement with AmInvestment Bank Bhd to underwrite a total of 74.96 million ordinary shares in conjunction with its initial public offering (IPO) on the ACE Market of Bursa Malaysia. (TheEdge)
Kumpulan Kitacon Bhd has signed an underwriting agreement with RHB Investment Bank Bhd (RHB IB) to underwrite a total of 18.59 million shares in conjunction with its initial public offering (IPO) to list on the Main Market of Bursa Malaysia Securities Bhd. (TheEdge)
Propel Global Bhd is buying a 51 per cent stake in Best Wide Engineering (M) Sdn Bhd (BWE) for RM7.82 million. In a statement yesterday, the oil and gas support services provider said BWE provides engineering and technical works for the oil and gas (O&G) industry through engineering, procurement, construction and commissioning (EPCC). (NST)
AirAsia Aviation Group Limited (AAAGL), the aviation arm of Capital A Bhd, has signed a joint venture (JV) agreement with Sivilai Asia to establish AirAsia Cambodia, a new low cost airline in Cambodia. (TheStar)
RHB Retail Research said Wah Seong Corporation Bhd is set to reclaim its 3-month high, as it bounced off the 21-day average line and pushed past the immediate resistance point of 63.5 sen yesterday, on strong trading volume. (TheEdge)
MIDF Research has maintained its “Buy” rating on Bermaz Auto Bhd at RM1.99 with a higher target price (TP) of RM2.67 (from RM2.36) and said Bermaz’s 1HFY23 core earnings beat estimates. (TheEdge)
RHB Research has lowered its earnings forecasts for Scientex Bhd by 6% to 9% for the financial year ending July 31, 2023 (FY2023) to FY2025, after adjusting its packaging utlisation rate assumptions to be more cautious in view of slower demand. (TheEdge)
Tile manufacturer Seacera Group Bhd, a Practice Note 17 (PN17) company, has until April 24 next year to submit its regularisation plan to the regulatory authorities for approval. (TheEdge)
LTKM Bhd said it intends to review the terms of the proposed RM336 million reverse takeover deal proposed earlier this year due to challenging market conditions. (TheEdge)
Petra Energy Bhd has secured a one-year extension to the contract from Petronas Carigali Sdn Bhd for the provision of offshore maintenance, construction and modification (MCM) services. (TheEdge)
The takeover offer of Citaglobal Bhd (formerly known as WZ Satu Bhd) at 19 sen per share is deemed not fair and not reasonable, according to independent adviser DWA Advisory. (TheEdge)
Source: New Straits Times, The Edge Markets, The Star 09 Dec 2022
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