Trading ideas: Chin Hin, MNRB, Zecon, Tuju Setia, Reneuco, EVD, LGMS and YTL REIT

KUALA LUMPUR: Companies making recent announcements include Chin Hin, MNRB, Zecon, Tuju Setia, Reneuco, EVD, LGMS and YTL REIT, said Apex Securities Research.

Chin Hin Group Bhd made its second issuance of perpetual medium-term notes (MTN) of RM10 million, under its RM500 million perpetual MTN programme.

MNRB Holdings Bhd has increased its sukuk programme from RM320 million to RM420 million in nominal value, after obtaining approval from the Securities Commission Malaysia.

Zecon Bhd, which provides civil engineering and building construction services, has secured Tawarruq Asset Financing Facilities totalling RM851.94 million from Bank Pembangunan Malaysia Bhd.

Construction group Tuju Setia Bhd has appointed Tee Huei Tsyr as its new chief executive officer (CEO) and Seon Yen Kong as its new chief operating officer (COO).

Reneuco Bhd, whose latest annual report saw a disclaimer of opinion by its external auditor, said its special independent review (SIR) found that the sales transactions and costs with identified customers and suppliers “were sufficiently supported” by relevant documentation.

EVD Bhd’s suspended executive director of operations and largest shareholder Mah Seong Huak has filed a RM25 million lawsuit against the transport system solutions company, claiming it had made a defamatory statement against him in a filing with Bursa Malaysia last month.

Cybersecurity consultancy LGMS Bhd is introducing a subscription-based solution aimed at small and medium enterprises (SMEs), which represents a new revenue model for the company.

YTL Hospitality Real Estate Investment Trust’s (YTL-REIT) acquisition of the Syuen Hotel in Ipoh, Perak, is set to help the group capitalise on the anticipated resurgence in Malaysia’s tourism activities.