Cypark Resources, Rapid Synergy, Citaglobal, ITMAX, Theta Edge, UEM Sunrise, Mega First, Dayang, Sunview, Solarvest, Cape EMS, MyEG, BPlant, KLK

TheEdge Tue, Sep 19, 2023 12:25am - 2 weeks View Original

KUALA LUMPUR (Sept 18): Here is a brief recap of some corporate announcements that made news on Monday: Cypark Resources Bhd, Rapid Synergy Bhd, Citaglobal Bhd, ITMAX System Bhd, Theta Edge Bhd, UEM Sunrise Bhd, Mega First Corp Bhd, Dayang Enterprise Holdings Bhd, Sunview Group Bhd, Solarvest Holdings Bhd, Cape EMS Bhd, MyEG Services Bhd, Boustead Plantations Bhd (BPlant), and Kuala Lumpur Kepong Bhd (KLK).

Cypark Resources Bhd shares were heavily traded in the morning after the renewable energy and solid waste management company announced that Chung Chee Yang was exiting the company as a substantial shareholder, a year after he became the company's single largest shareholder.

Rapid Synergy Bhd's share price fell 12.71% or RM3.06 to a low of RM21.02 following the announcement of the sale of a land in Manjung, Perak for RM22.89 million in cash. On Friday (Sept 15), the precision tool-making company announced that it had disposed of 6,653/10,000 undivided share of a parcel of land in Manjung, measuring 303,487 sq ft, to Yokado Sdn Bhd.

Citaglobal Bhd has entered into a memorandum of understanding (MOU) with China government-linked Shanghai SUS Environment Co Ltd (SUS), with a RM15 billion investment commitment from SUS for joint collaboration and development of waste-to-energy (WTE) projects in Malaysia. This confirmed a report by The Edge weekly in its latest edition that Citaglobal was expected to sign a new MOU for the WTE venture as its management strives to expand the group further.

ITMAX System Bhd's subsidiary has secured a contract entailing the provision of video surveillance services for the Johor Bahru City Council (MBJB) worth RM105.32 million for a 15-year period. The group said the contract commenced this month.

Information technology solutions provider Theta Edge Bhd is looking to collaborate with Estonian technology firm Cybernetica AS on joint development, implementation, marketing and promotion of digital identity products exclusively in Malaysia and digital identity, cybersecurity, privacy enhancement and interoperability within Malaysia and other Asean countries on a project basis.

Shares in UEM Sunrise Bhd rose as much as 13.5 sen or 18.49% in active trade on Monday, pushing the counter to a four-year high of 86.5 sen. The counter has risen more than 231% this year, on sentiment play amid an inflow of positive news for projects in Johor, in particular near the Iskandar region, where UEM Sunrise’s portfolio is mostly located.

Mega First Corp Bhd, which is involved in the renewable energy, resources and packaging sectors, has teamed up with Lao Green Power Corp Co Ltd and Enemax Trading Ltd to jointly explore new business investment opportunities in Laos. It said the joint venture will pave the way for the company to explore new business opportunities in Laos.

Dayang Enterprise Holdings Bhd’s pan-Malaysia contract from PTTEP Sarawak Oil Ltd and PTTEP Sabah Oil Ltd to provide maintenance, construction and modification has been extended until Dec 31, 2024. The original contract duration was from 2018 to mid-July 2023, the integrated oil and gas service provider said.

Sunview Group Bhd has entered into an agreement with UOB Malaysia to provide installation and management services of solar power systems for local businesses and consumers.Through its wholly-owned unit Fabulous Sunview Sdn Bhd, Sunview will provide services in the development, planning, procurement, as well as construction.

Solarvest Holdings Bhd has appointed its group chief strategy officer Liew Chee Ing as an executive director, effective Monday. The renewable energy engineering, procurement, construction and commissioning player said Liew is spearheading the development of the group’s long-term strategies in his capacity as group chief strategy officer.

MyEG Services Bhd said it has partnered with Chinese state-owned Guangxi Beitou IT Innovation Technology Investment Group Co Ltd to offer an international digital identity credential service on the Zetrix blockchain.

Lembaga Tabung Angkatan Tentara’s (LTAT) move to offload a 33% stake in Boustead Plantations Bhd (BPlant) to Kuala Lumpur Kepong Bhd (KLK) was necessary to avoid Boustead Holdings Bhd from going bankrupt, said Defence Minister Datuk Seri Mohamad Hasan. He said the stake disposal for RM1.15 billion is to address Boustead’s cash flow issues and debt settlement of RM800 million by end-2023.

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BPLANT 1.270
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THETA 0.630
UEMS 0.790


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