KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Malaysia Corporate Wrap | Genting Eyes RM6.7b Buyout, Malakoff Secures Mitsubishi Deal, HeiTech Contract Revised
Genting Bhd – Plans RM6.7 Billion Buyout of Genting Malaysia
Genting Bhd (KL:GENTING) has proposed to privatise and delist Genting Malaysia Bhd (KL:GENM) through a RM6.7 billion cash offer at RM2.35 per share, representing a 10% premium to its last traded price.
The buyout is conditional on increasing Genting’s stake above 50% from its current 49.36%. If successful, it would mark Genting Malaysia’s exit from Bursa Malaysia after nearly four decades.
The move coincides with Genting Malaysia’s bid for a US$5.5 billion casino licence in New York, with a decision expected by Dec 1 and licence awards by Dec 31.
Malakoff Corp – Secures Turbine Supply from Mitsubishi Power
Malakoff Corp Bhd (KL:MALAKOF) has signed a reservation agreement with Mitsubishi Power for two M701JAC gas turbines to support its planned 1,400MW gas-fired power plant in southern Peninsular Malaysia.
The agreement secures manufacturing and delivery slots, helping to mitigate global supply chain risks. Commercial terms remain confidential pending finalisation of the EPCC contract.
HeiTech Padu – Government Contract Value Raised to RM1.05 Billion
HeiTech Padu Bhd (KL:HTPADU) has accepted a revised contract value of RM1.05 billion for the National Integrated Immigration System (NIISe), up from RM892.2 million, marking an 18% increase.
No explanation was provided for the RM157.8 million adjustment. Under new terms, the company must furnish a RM10.52 million performance bond or top up RM1.6 million.
Rohas Tecnic – Wins RM28.7 Million Tenaga Nasional Project
Rohas Tecnic Bhd (KL:ROHAS) secured a RM28.67 million contract from Tenaga Nasional Bhd (TNB) for 275kV bulk supply works in Johor.
The eight-month project will be carried out by its 86.8%-owned unit, HG Power Transmission, and is expected to contribute positively to earnings in both the current and next financial years.
Paragon Globe – Buys Johor Land for Affordable Housing
Paragon Globe Bhd (KL:PGLOBE) is acquiring 11.84 hectares of land in Johor for RM11.48 million in cash from its major shareholders via Common Development (M) Sdn Bhd.
The related-party transaction supports the group’s affordable housing plans aligned with Johor Housing Development Corporation (PKPJ) guidelines under the state’s housing programme.
Omesti – Secures RM30 Million ICT Maintenance Contract
Omesti Bhd (KL:OMESTI), through its 49%-owned subsidiary Formis Network Services, has won a RM30.31 million, 36-month contract from the Ministry of Home Affairs.
The deal covers LAN and ICT security system maintenance for the Immigration Department’s headquarters and branches. This marks Omesti’s third contract announcement this year.
Citaglobal – Launches Solar-Ready Homes in Kuantan
Citaglobal Bhd (KL:CITAGLB) has launched D’Marina Bayu Phase 2B in Kuantan, featuring 120 solar-ready double-storey homes with smart home systems and fibre-to-home connectivity.
Part of the Residensi D’Marina township co-developed with Perbadanan PR1MA Malaysia, the project enables rooftop solar panels that can reduce electricity bills by up to 60%. Completion is scheduled for December 2026.
Comments
Post a Comment