Major corporate events of the week (iFast is buying a bank in UK, Hap Seng is expanding its land bank, Another merger event in SReits)
Here's what we have for the week
- Aneka Jaringan Holdings has been awarded a RM 16.1 million contract for the provision of foundation works at a project located at Bukit Jalil
- HSS Engineers is providing engineering consultancy services for the project “Jambatan Merentasi Sg Marang di Laluan FT003 Jalan Kuala Terengganu – Kuantan
- Advancecon Sarawak Sdn Bhd is undertaking the earthwork and site clearing work through a contract offered by Yayasan Sarawak.
- Sembcorp Industries has signed a long-term power purchase agreement (PPA) to supply 625 megawatts of power to Andhra Pradesh state power distribution companies for 12 years.
- Ranhill Utilities has been awarded a RM 161 million contract to reduce non-revenue water (NRW) in Pahang and Johor. (Water pipe suppliers may be a beneficiary of this contract)
- Celcom Networks Sdn Bhd had engaged Opcom holdings for related fiber optic infrastructure works through a 2 years contract.
Energy and Mining Industry
- Wah Seong Corp is disposing of its idle asset. This time, it’s a leasehold land in Singapore.
- Pantech is acquiring Unity Precision Engineering Sdn Bhd, a metal precision machining, engineering, and turnkey solutions company that serves the oil and gas industries for RM 13 million.
- Major policies changes for ore producing countries
- How the Ukraine and Russia conflict is affecting oil prices.
- Lion Industries is acquiring a piece of 80acres land in Mukim Labu, Daerah Sepang
- Teck Guan Perdana bought a 306 acres leasehold land located at Lahad Datu
- Hap Seng Consolidated acquired a 15.34 acres land located at KL Metropolis from Naza TTDI Sdn Bhd
- MSM Sugar has been awarded a contract worth RM 290 million to supply refined sugar to the Coca-Cola Company for both domestic and international production.
Cash Call/ Debt restructuring
- Sarawak Cable has proposed a debt restructuring plan with his lenders
- iFast Corporation Ltd, the holding company of Fundsupermart is acquiring a bank in UK.
- The proposed sale of mm2 Asia’s cinema business to Kingsmead Properties will not be going ahead.
- Mapletree Commercial Trust will be merging with Mapletree North Asia Commercial Trust.
- Comintel Corp Bhd is getting a new shareholder.
Company Expansion Plan
- Grand Venture Technology Ltd is expanding its capacity by acquiring a new manufacturing facility in Penang for RM 13.5 million.
- VS Industry is allocating RM 150 million to expand its capacity
- A market leader in Malaysia insurance industry trading at 6 years low valuation
- The newcomer in the market, Senheng, and its competitors
Trades we are monitoring
- Short EUR
- Long agriculture products
- Long interest rate
- Long banks due to the interest rate hike
- Short non-profitable growth stocks
- A diverging signal between oil price and open interest