Here's what we have for the week

Significant Event

  • Keppel FELS Limited has issued notices of termination for the Relevant Contracts signed in Oct 2013 and Feb 2014, involving USD 200 million and USD 650 million respectively due to the failure of the respective clients without reasonable or legal justification to take delivery of the respective rigs and concurrently pay the outstanding installments.
  • edotco Group Sdn Bhd is in talks with PLDT Inc of the Philippines to acquire a portion of the latter’s telecommunication tower business. The acquisition could be a substantial one with edotco eyeing about 3,000 of PLDT’s 6,000 telecom towers that are up for sale.


Real Estate Industry
 

  • Malaysia's largest industrial Reit, Axis Reit is spending RM 390 million to acquire a warehouse located in Tanjung Pelepas Port.
  • ESR Reit is redeveloping the property located at 21B Senoko Loop, Singapore.


Infrastructure/Logistics

  • HSS Engineers Bhd had been awarded an RM 11.29 million contract from MRT Corp to provide consultancy services for MRT 3.


Cash Call/ Debt restructuring

  • Pegasus Heights Bhd Plans to raise up to RM23.66 million in a private placement of up to 20% of its total issued shares

Company Expansion Plan/ Capex Plan

  • CCK Consolidated, the Sarawak-based poultry player is acquiring the entire stake in Indonesia-based PT Bonanza Pratama Abadi for US$8 million. PT Bonanza is principally engaged in processing and freezing shrimp for local and export sales.


Users can filter the companies' activities via industry or nature of activities via using our tool for Malaysia companies and Singapore companies via the link.
Users can get access to all the major transactions of offices, lands, and factories in Malaysia via this tool.


Daily Insights


News we are reading

  • Mastercard partners with Nexo to launch a world-first crypto-backed credit card. Visa had been launching crypto debit cards previously. (Reuters)
  • Charlie Munger halving its stake in Alibaba (Reuters)
  • Public housing to be built at Singapore's prime seafront location (Straits Time)
  • Twitter received an offer from Elon Musk (The Edge)