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KUALA LUMPUR: Companies with recent announcements include SunCon, Ivory, LSH, GenM, Nestcon, Hextar Capital, Public Bank, LHI and Rapid Synergy, said Apex Securities Research.
Sunway Construction Group Bhd (SunCon) and the National Highway Authority of India (NHAI) have reached a settlement regarding the East West Corridor highway construction project, with NHAI agreeing to pay 375.32 million rupees (RM20.96 million) to Sunway Construction Sdn Bhd (SCSB), a wholly-owned unit of SunCon.
Ivory Properties Group Bhd signed an agreement on Wednesday to proceed with its disposal of a 1.22-acre (0.49-hectare) freehold land in George Town, Penang to Chin Hin Group Property Bhd for RM40 million.
Leader Steel Holdings Bhd’s (LSH) wholly owned subsidiary Ferronet Asia Sdn Bhd has accepted a notice of award and offer for compensation (Form H) from the Klang Land Office invoking a compulsory acquisition under the Land Acquisition Act 1960 (Act 486) to acquire 28,903 sq m of land in Mukim Kapar, Klang for RM42.56 million cash.
Genting Malaysia Bhd announced that it will inject another US$100 million (RM464.15 million), through an indirect wholly-owned unit, into Empire Resorts Inc, in which it has already put in about US$624.4 million to date.
Nestcon Bhd has clinched RM108 million worth of construction works from property developer Exsim Avenue Sdn Bhd for a mixed commercial development project.
Hextar Capital Bhd has completed the acquisition of 49% stake in power industry engineering, procurement, construction and commissioning (EPCC) outfit Transgrid Ventures Sdn Bhd in a cash and share deal.
Public Bank Bhd has withdrawn its lawsuit against Magma Group Bhd and Magma executive chairman Datuk Seri Ismail Farouk Abdullah, stemming from a dispute over the settlement of outstanding sums under various term loan and overdraft facilities.
Leong Hup International Bhd’s wholly owned subsidiary, Leong Hup Feedmill Malaysia Sdn Bhd (LFM) and Dindings Poultry Development Centre Sdn Bhd (DPDC) have filed appeals against the Malaysia Competition Commission’s (MyCC) decision to fine the two companies over alleged chicken feed cartel practice.
Selling pressures continue to pound stocks related to Datuk Dr Yu Kuan Chon, with Rapid Synergy Bhd hitting its limit down in Wednesday morning’s trading session on Bursa Malaysia, before paring some of its losses by afternoon break.
