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

Construction Industry

  • 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.

Utility Industry

  • 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

Real Estate Industry 

FMCG

  • 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

Significant Event

  • 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


The full list of company events can be accessed from here.
Malaysia
Singapore
 
Companies we are looking at


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