Here's what we have for the week

Significant Event

  • Recently, Gamuda Bhd secured several major projects. Its 75%-owned joint venture was awarded a RM4.3 billion design-and-build contract by the Department of Rapid Transit Systems, New Taipei City Government, to deliver the Xizhi-Donghu Mass Rapid Transit (MRT) line in Taiwan. Additionally, it was appointed as the main contractor for a hydroelectric plant in Sabah, valued at RM3.05 billion. Gamuda also secured a RM451.4 million contract to build a data center in Cyberjaya, along with a A$243 million (RM702 million) contract to construct the Boulder Creek Wind Farm in Queensland, Australia.
  • Petronas is considering selling a minority stake in its renewable energy firm, Gentari Sdn Bhd, to support business expansion. The stake could be valued between US$300 million and US$500 million.


Business Divisions of Gentari

    Real Estate Industry 

    • Parkwood Holdings Bhd, a boutique developer, is acquiring a 32-acre parcel of land in Rawang from Lee Rubber at a transaction price of RM22 per square foot.
    • AME Elite Consortium Bhd, a property developer specializing in industrial real estate, is collaborating with Kuala Lumpur Kepong Bhd in a joint venture to develop a new industrial park in Ijok, Selangor.
    • IOI Properties Group Bhd is developing a 100-acre integrated project, IOI Rio City, within its Bandar Puteri Puchong township in Puchong, Selangor. The project has a gross development value (GDV) of RM12 billion.

    Infrastructure/Logistics

    • The Senai-Desaru Expressway will undergo upgrades along the stretch from the Sg. Johor Bridge (KM49.3) to Sg. Semenchu (KM58.7). The construction work, undertaken by Kimlun Corp, is expected to be completed by the second quarter of 2027.


    Cash Call/ Debt restructuring/Restructuring/Proposed Listing Privatization

    • Candy maker Khee San Bhd is proposing a regularization plan that includes a rights issue with warrants, a scheme of arrangement with creditors, and a share capital reduction.

    Brands owned by Khee San Bhd



    Company Expansion Plan/ Capex Plan

    • Petro Sarawak (Petros) will be allocating RM 40 billion over the next five years for its capital expenditure plans.
    • Petronas Chemicals’ second production line for 2-ethylhexanoic acid (2-EHAcid) at its integrated site in Kuantan, Pahang, has successfully doubled the annual production capacity to 60,000 tonnes.

    Insights

    • Companies that have delivered fantastic quarterly results in October 2024. (Read More)
    • How Cuckoo, Coway, and SK Magic stack up against each other? (Read More)