Here's what we have for the week

Significant Event (MY & SG)

  • Vietnam's Ministry of Industry and Trade has terminated the $3 billion Song Hau 2 thermal power plant. Toyo Ventures Holdings Bhd is the asset owner, and Sunway Construction Bhd is the main contractor.
  • WCT Holdings, the owner of Paradigm Mall, is planning to establish a REIT.

Real Estate Industry 

* Land acquired by Mah Sing in Taman Desa

  • Malton, a company that shares the same shareholder as Pavilion Shopping Mall, acquired a piece of land for RM 65 million in Genting Highland. Over the last 8 years, land prices in Genting Highland have risen from RM 14 to RM 49.46 per sqft.
  • Mah Sing is buying a piece of land spanning 6.169 acres, located in Taman Desa for RM 108 million, or RM 402 per sqft.
  • Sunway sold a piece of land, spanning 64 acres, to a data center operator for RM 380 million.


  • The main contractor of the East Coast Rail Link (ECRL), China Communications Construction Company Ltd (CCCC), is going to bear the operational risks of the rail together with its asset owner, Malaysia Rail Link Sdn Bhd (MRL). MRL and CCCC will each bear 50% of the risk in this joint venture company or operating company (OpCo) if the rail operates at a loss. If the operation proves profitable, MRL will receive 80% of the earnings while CCCC will get the remaining 20%.
  • Gibson Shipbrokers Ltd and Malaysian state-owned Sabah Oil & Gas Development Corp (SOGDC) have signed an agreement to develop oil and gas facilities. The oil and gas facilities will be developed at the Sipitang Oil and Gas Industrial Park in Sabah.

Cash Call/ Debt restructuring/Restructuring/Proposed Listing

  • Aeon Co is planning to raise RM 2 billion to fund its capital expenditure, working capital, investments, and refinance existing debts.

Company Expansion Plan/ Capex Plan

  • AirAsia X is expanding into Africa.
  • Tropicana Corp Bhd is betting big on Johor.

Market Insights

  • Electrical components and steel are short in supply, reported by ISM in their June report.

News we are reading

  • Singapore launched new Anti-Money Laundering rules. The new bill will allow authorities to prosecute suspected offenders more effectively, without the need to link illicit gains to the original crime directly. (The Edge)
  • Energy traders are snapping up refineries. (Bloomberg)
  • Global stock markets are reaching new highs as the global liquidity index turns positive.