KUALA LUMPUR, Jan 27 (Bernama) -- Bursa Malaysia finished in the negative territory today dampened by subdued trading observed across the board ahead of the upcoming Chinese New Year (CNY) festive holidays, said an analyst. At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 14.76 points, or 0.94 per cent, to end at its intraday low of 1,558.97 compared to Friday’s close of 1,573.73. The benchmark index opened marginally lower by 0.42 of-a-point at its intraday high of 1,573.31 and moved in a downtrend path towards closing. Market breadth was negative with decliners thumping gainers 782 to 235, with 415 counters unchanged, 916 untraded and 60 suspended. Turnover narrowed to 2.76 billion units valued at RM2.38 billion compared to 3.0 billion units valued at RM3.06 billion registered last Friday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan noted that the thin trading volume today indicated a clear retreat by investors ...
Here is a brief overview of significant corporate announcements and business news from Friday:
AirAsia X and Capital A:
- Update: AirAsia X Bhd will directly acquire Capital A Bhd’s aviation business without establishing a new company (NewCo) as part of an internal reorganisation. This decision aims to expedite the takeover process.
- Reason: The change was made to balance potential benefits with the need for a swift completion of the acquisition.
- Source: AirAsia X to take over Capital A’s aviation business directly without setting up NewCo
Hibiscus Petroleum:
- Contract Award: Hibiscus Petroleum Bhd has been awarded a 65% participating interest and operatorship in a production sharing contract (PSC) by Petronas. The contract, effective from July 1, has a duration of 24 years.
- Partnership: The remaining share is held by Petronas Carigali Sdn Bhd.
- Source: Hibiscus awarded 65% participating interest in PSC by Petronas
Dagang NeXchange (DNEX):
- Contract Award: Petronas awarded Ping Petroleum Sdn Bhd, a subsidiary of DNEX, and Duta Marine Sdn Bhd, a PSC for the Bubu, Bunga Tasbih, and Enau fields. These awards are part of Petronas’ effort to develop discovered resource clusters.
- Source: Petronas awards three PSCs for discovered resource clusters, more to come
ViTrox Corporation:
- New Fund: ViTrox Corp’s co-founders, in partnership with Southern Capital Group, will launch the RM150 million Cambrian Fund in October to support local tech startups focusing on Industrial 4.0 themes.
- Source: ViTrox founders team up with Southern Capital to launch RM150 mil Cambrian Fund to boost tech ecosystem
Ekovest and Knusford:
- Merger Talks Extension: Ekovest Bhd and Knusford Bhd have agreed to extend merger discussions until January 27, 2025, to finalize the terms of their proposed merger.
- Source: Ekovest agrees to six-month extension for merger discussion between subsidiary and Knusford
Alam Maritim Resources:
- Regularisation Plan: Alam Maritim has announced a plan to exit PN17 status, including a share capital reduction, share consolidation, rights issuance with warrants, and a debt restructuring scheme.
- Source: Alam Maritim submits regularisation plan to exit PN17 status
Datasonic Group:
- Contract Award: Datasonic secured a RM30 million contract to supply smart cards to Indonesia’s PNRI, under the Ministry of State-Owned Enterprises, over one to three years.
- Source: Datasonic gets RM30m contract to supply smart cards to Indonesians
Kumpulan Kitacon:
- Construction Contract: Kumpulan Kitacon won a RM54.5 million contract to construct 186 terrace houses in Rawang, Selangor.
- Source: Kumpulan Kitacon bags RM54.5m job to build houses in Rawang
DXN Holdings:
- Financial Results: DXN reported a 10.26% increase in net profit for Q1 FY2024, driven by expansion in key markets. Revenue rose 12.05% year-on-year.
- Dividend: Declared a first interim dividend of 0.9 sen per share.
- Source: DXN Holdings 1Q net profit up 10.26%, targets market presence in Zambia, Ghana
Homeritz Corporation:
- Financial Results: Homeritz’s Q3 net profit surged 46.37% due to higher sales volume and a stronger US dollar. Revenue increased by 63.34%.
- Source: Homeritz’s 3Q net profit soars 46.37% on higher sales and strong greenback
Westports Holdings:
- Financial Results: Westports’ Q2 net profit rose 4.61%, driven by lower operating expenses. Revenue increased by 1.9%.
- Dividend: Declared an interim dividend of 8.89 sen per share.
- Source: Westports’ 2Q net profit up 5%, declares 8.89 sen dividend
Malaysian Genomics Resource Centre (MGRC):
- Private Placement: MGRC plans to raise up to RM4.98 million through a private placement.
- Source: MGRC plans private placement to raise up to RM4.98 mil
These updates highlight significant corporate movements, financial performances, and strategic initiatives among key players in the Malaysian business landscape.
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