Here's what we have for the week

Significant Event

  • Celcom-Digi merger receives MCMC clearance.
  • Aspial Lee Hwa Jewellery Singapore to be sold to pawnshop operator, Maxi-Cash Financial Services Corp.
  • The euro sank to a 20-year low against the US dollar as the prospect of a less aggressive hiking cycle by the European Central Bank
  • South Korea's June FX reserves fall by the most in 14 years due in part to dollar-selling intervention to support the won. Korean Won is now at 13 years low.
  • Germany posted its first monthly trade deficit since 1991.
  • Commodities prices plunge.
  • UK Prime Minister resign, Japan's ex-prime minister was shot dead, Secretary-General of OPEC passed away suddenly.

Real Estate Industry

  • AmFirst Reit is selling its office located at Seksyen 19, Petaling Jaya for RM 64.6 million.
  • Mah Sing Group is acquiring 6.93 acres of land located at Taman Seri Austin, Johor Bahru for RM 130 per sqft. The land will be built into a project with 3 blocks of serviced apartments.
  • Wong Engineering Corp, the company owned by the major shareholders of Tiong Nam Logistics, is acquiring a piece of industrial land in Kulim, Kedah for RM 14.6 million.
  • Farm Fresh Bhd, the fresh milk manufacturer is spending RM 18.2 million to buy industrial land in Bandar Enstek, Negeri Sembilan.
  • 10.07 acres of land is being transacted in Selangor Halal Hub, Pulau Indah is recorded at RM 70 per sqft.
  • Frasers Logistics & Commercial Trust is buying a logistics property in Cheshire, UK for GBP 101 million.
  • Straits Trading is acquiring a business park in Surrey, UK for GBP 130 million. The portfolio consists of 9 office buildings and 6 plots of development land.
  • ARA US Hospitality Trust is disposing of 4 Hyatt Place Hotels located in the US for USD 32.5 million.

Infrastructure/ Logistics

  • Berjaya Land had signed an MOU with the Sabah state government to explore the possible relocation of Kota Kinabalu International Airport (KKIA) to Kimanis.
  • Ekovest Bhd, a construction company owned by a businessman that also owns Iskandar Water Front city has been awarded a RM 1.98 billion contract to build the Rapid Transit System Link.

Cash Call/ Debt restructuring/Restructuring/Proposed Listing

  • Reach Energy Bhd, a company that is involved in oil and gas exploration in Kazakhstan, is issuing 1.03 billion new shares at an issue price of 20 sen apiece to offset debt owing to Super Racer Ltd (SRL), amounting to US$49.56 million (or RM206.51 million). Following the exercise, SRL will be the largest shareholder of the group, with a stake of 48.5%.
  • Industronics Bhd, Atrium Reits, and MGRC are raising cash via private placement and rights issues this week.

Company Expansion Plan/ Capex Plan

  • Smith+Nephew, a global medical technology company, has opened a new high-technology manufacturing facility in Batu Kawan Industrial Park in Penang with an investment worth over US$100 million.
  • Taiwan-based Wiwynn Corp will set up a printed circuit board assembly (PCBA) plant for cloud data centers with an investment value of RM300 million in Senai Airport City, Kulai, Johor.
  • Inari Amertron Bhd is pumping RM283.33 million in a joint venture (JV) with China Fortune-Tech Capital Co Ltd to carry out outsourced semiconductor assembly and test (OSAT) services in China.

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

  • Crypto hedge fund Three Arrows Capital being liquidated (CNBC)
  • A developer entrusted to build the proposed RM7 billion Kulim international airport has dropped the project after failing to complete paying a deposit to the government for land acquisition, which would come to at least RM2 billion. (FMT)