Here's what we have for the week

* Top Glove Capex Plans

Significant Event

  • Aspen Glove and Top Glove are significantly scaling down their glove manufacturing expansion plan.
  • International Medical University Malaysia (IMU) has been sold for RM 1.24 billion.
  • Dialog Group is buying the entire stake in Canada-listed oil and gas firm Pan Orient Energy Corp for US$38.7 million


Real Estate Industry
 

  • Capitaland Land Malaysia Trust is buying 2 pieces of industrial land in Sungai Jawi, Penang. This asset is the first non-shopping mall asset in its portfolio.
  • United Hampshire US Reit is acquiring a new shopping centre in Pennsylvania, US; Mapletree Industrial Trust is disposing of a data centre in Michigan, US; Frasers Logistics & Commercial Trust is acquiring 3 industrial properties in Australia.


* Location of Bandar Rimbayu

Infrastructure/Logistics

  • J&T Express has invested RM600 million in an integrated logistics centre in Selangor. The 30-acre centre in Bandar Rimbayu, Selangor, is designed for express distribution, transport, logistics and warehousing.


Cash Call/ Debt restructuring/Restructuring/Proposed Listing

  • PSC Corporation, formerly known as Hanwell Holdings, is acquiring frozen food manufacturing business. The acquisition is mainly satisfied via the issuance of new shares.
  • Hotel operator, Impiana Hotels is raising up to RM 150 million via the issuance of redeemable convertible notes.
  • Property developer, Hua Yang Bhd is raising up to RM 17.6 million by undertaking a renounceable rights issue of up to 88 million new shares. (RM 0.20 per share)


Privatization

  • Litrak, the company that owns several highways in Klang Valley is distributing RM 5.08 per share from highway sales and does not intend to maintain its listing status.


* Capex of Petronas



Company Expansion Plan/ Capex Plan

  • Petroliam Nasional Bhd (Petronas) is allocating about RM60 billion for capital expenditure in the financial year ending Dec 31, 2022. RM40 billion has been earmarked for the oil and gas business besides non-hydrocarbon–related operations while the balance of the Capex allocation has been earmarked to finance Petronas Chemicals Group Bhd's proposed acquisition of Perstorp Holding AB for €1.54 billion.



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

  • US waives solar panel tariffs for Cambodia, Malaysia, Thailand and Vietnam. (The Star)