Significant Event
- Public listed companies (PLCs) will no longer be allowed to
hold virtual-only general meetings beginning March 1, 2025. This change
aims to help minority shareholders better participate in AGMs and understand
the company’s direction and policy. POLICY
- Icon Offshore Bhd is making several acquisition to double its
fleet size. The acquisition, totalling RM 437.5 million, will be satisfied
via share issuance at 88 sen a piece.
- Sime Darby Bhd is looking to shutter some of its unprofitable
motor division branches in China as part of a strategic review, amid
significant margin compression in its operations in the country.
Brand distributed by Sime Darby Motors
Real Estate Industry
- Tropicana Corp Bhd, currently on a selling spree to deleverage
its balance sheet, is disposing of a piece of land located in Gelang
Patah, Johor, for RM 383 million to NTT Global Data Centers.
- KIP Reit is expanding its portfolio by adding four more
industrial properties.
- AmanahRaya Reit is acquiring a detached factory located in
Glenmarie, Selangor for RM 31.4 million. The property is currently
tenanted to a private school.
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Infrastructure/Logistics
- The government has fixed the system access charge (SAC) for
renewable energy (RE) plants and power consumers wishing to deliver their
own power through the national grid at 45 sen per kilowatt-hour (kWh).
INFRA
- West Coast Expressway will commence operations of Section 1,
which connects the Banting Interchange to the South Klang Valley
Expressway (SKVE) Interchange.
Cash Call/ Debt restructuring/Restructuring/Proposed Listing
- Axis Reit is proposing a private placement to raise up to
RM454.99 million for repayment of bank financing. The proposed placement
involves up to 15.05% of its issued units, or 263 million new units, The
indicative price for private placement is RM 1.73 per share.
Privatization
- Silverlake Axis Ltd, a software company, has received a privatisation
offer from its shareholder and Ikhlas Capital @ SGD 36 cents per share. Some
of Ikhlas Capital’s investments include Food Empire, the beverage company
that owns the Klassno brand, and Pelikan, the stationery manufacturing
company.
Company Expansion Plan/ Capex Plan
· MSM Malaysia Holdings Bhd, one of Malaysia’s two sugar refiners, has secured a deal to export grain sugar to China and targets to deliver 45,000 tonnes by the end of this year.
Planning
permission applications for building construction in Kuala Lumpur will now
require a geotechnical study by certified engineers, according to a new
directive from Kuala Lumpur City Hall (DBKL). This policy follows several
sinkholes in KL over the past two weeks.
