KUALA LUMPUR (Jan 19): Here is a brief recap of some corporate announcements that made news on Friday:

Capital A Bhd now has up till June 30, 2024 to submit its proposal to regularise its Practice Note 17 (PN17) condition after getting Bursa Malaysia's approval for another six-month extension — its fourth extension in a row. The group was placed in Bursa's PN17 list of financially-distressed entities in January 2022. It was initially supposed to submit the plan by Jan 7, 2023, but the deadline was extended thrice — first to July 7, then to Oct 7 and subsequently to Dec 31, 2023. Capital A gets up till June 30 to submit PN17 exit plan

Property developer Eupe Corp Bhd is purchasing two additional parcels of freehold land in Sungai Petani, located in the Kuala Muda district of Kedah, for RM40.68 million, which will increase the land area around its proposed township for investment. It is buying the freehold plots, totalling 221,238 sq m, from Sing Na Tian Development Sdn Bhd. The plots are also contiguous with two other parcels that Eupe bought in 2022 from SNTDSB for a total of RM55.31 million and measuring a collective 300,762 sq m. Eupe Corp buys two more Sungai Petani plots for investment

Silver Ridge Holdings Bhd, whose shares price hit limit down again for a second consecutive day on Friday, revealed that the group is discussing several business proposals in its response to the unusual market activity query issued by Bursa Securities. Other than these discussions, which are in the preliminary stages, the company said it was unaware of any corporate development related to the group’s business and affairs that may account for the sharp fall in its share price. The company is in compliance with the Bursa Securities Listing Requirement on immediate disclosure obligations, it added. Silver Ridge says several business proposals being discussed in UMA reply

Bursa Malaysia Securities Bhd has put a freeze on the lower limit share price for Jentayu Sustainables Bhd after the stock hit the limit down circuit breaker for two days in a row. The lower limit freeze is set at 50 sen where the stock last settled, which is also its lowest in 16 months. The loss-making renewable energy player's counter, which continued to succumb to heavy selldown on Friday, lost 30 sen or 37.5% from Thursday's close of 80 sen. At 50 sen, the stock is valued at RM219 million. Bursa freezes Jentayu Sustainables' lower limit at 50 sen

Betamek Bhd said investigations by the Malaysian Anti-Corruption Commission (MACC), which summoned its managing director Mirzan Mahathir for questioning, have nothing to do with the company. “As such, Betamek operates its business as usual without any interruption in our production and delivery of Betamek's products to our customers,” it said in a bourse filing on Friday. On Wednesday, MACC summoned Mirzan, the son of former two-time prime minister Tun Dr Mahathir Mohamad, to assist with an ongoing investigation based on information from the Panama Papers, as well as into his business activities involving the sale and purchase of government-linked companies (GLCs). Betamek distances itself from MACC probe after graftbuster questions MD Mirzan

Edelteq Holdings Bhd has signed Memoranda of Understanding (MOU) with a Chinese company and a Malaysian outfit to start semiconductor-related businesses locally and abroad. According to a bourse filing on Friday, it had inked one MOU with China-based CYG Semiconductor Equipment (Zhuhai) Co Ltd to set up two companies — one in China and another in Malaysia — that will be involved in semiconductor-related businesses. In a separate filing, Edelteq said it also inked an MOU with local optical inspection system firm Halo Technologies Sdn Bhd (HTSB) to set up a business involved in semiconductor design, manufacturing, and selling of substrate automatic optical inspection (AOI) system. Edelteq signs MOU with Chinese, local firms for semiconductor-related ventures

TSA Group Bhd, which is scheduled to make its ACE Market debut on Feb 2, said its initial public offering (IPO) was oversubscribed by 8.62 times by the Malaysian public. The manufacturer of industrial hardware products, stainless steel pipes and metal products said the IPO received 4,304 applications for 148.78 million shares valued at RM81.83 million for the 15.465 shares made available to the Malaysian public. The Bumiputera portion was oversubscribed 7.75 times — with 2,329 applications for 67.69 million shares received — while the public portion was oversubscribed 9.49 times — with 1,975 applications for 81.09 million shares received. ACE-Market bound TSA Group’s IPO oversubscribed by 8.62 times

LB Aluminium Bhd is acquiring two factories and an office on a 4.56-acre freehold parcel of land in Beranang, Selangor, for RM30.42 million cash. The group said it has entered into a sale and purchase agreement with Puspajaya Realty Sdn Bhd for the proposed land acquisition. PRSB is principally involved in the property development and management segments. According to the group, it is buying the property, which is sited next to its manufacturing operations and factories, to grow its warehouse capacity in Beranang, relocate its operations and cater for any future expansion plans. LB Aluminium buys factories in Selangor for RM30 mil to boost warehousing space

While Tanco Holdings Bhd’s share price had been on a downward spiral, a total of 6.07 million warrants were converted at the exercise price of 31 sen per share, the company’s filing with Bursa Malaysia showed. The conversion of this block of warrants cost RM1.88 million. These are warrants issued under Tanco’s bonus issue in August 2022 involving up to 1.47 billion free warrants on the basis of one warrant for every two existing shares held by entitled shareholders. According to Tanco’s annual report, the largest warrant holder is currently its major shareholder Datuk Seri Andrew Tan Jun Suan with 92.45 million warrants or 12.11% held as at Oct 5 last year. Six million Tanco warrants exercised at 31 sen apiece as share price on downward spiral

Sustainable energy specialist Kinergy Advancement Bhd (KAB) will team up with the Philippines' LCS Holdings Inc to jointly develop and operate a 20 megawatts-peak (MWp) solar photovoltaic (PV) plant in Santa, Ilocos Sur, the Philippines. KAB said the proposed project aligns with its strategic objectives to broaden business opportunities within its diverse portfolio of sustainable energy solutions. This will further expedite the expansion of KAB’s footprint into other renewable energy (RE) projects in the Philippines and Southeast Asia, it added, but it did not disclose the value of the project. KAB said its wholly-owned subsidiary KAB Energy Holdings Sdn Bhd (Kabeh) has entered into a non-binding Heads of Agreement (HOA) with LCS for the joint development. LCS holds a solar energy service contract (SESC) issued by the Department of Energy (DOE) of the Philippines. Kinergy Advancement, Philippine firm to team up for 20MWp solar plant

Selling pressure has struck technology services provider Heitech Padu Bhd on Friday, as its share price plunged 29.9% to hit limit-down. Last Friday (Jan 12), the stock hit its one-year high at RM1.17 sen. The last time the stock fell below 80 sen was on Nov 27 last year. Prior to hitting its limit-down, the counter had risen over 30% year to date. At 75 sen, the company has a market capitalisation of RM75.92 million, down RM42.51 million from RM118.43 million last Friday. Heitech Padu the new limit-down counter on the block 

YNH Property Bhd, in which prominent investor Datuk Dr Yu Kuan Chon is the largest shareholder with a 32.6% stake, shared details of a turnkey construction contract (TCA) in relation to a RM150 million land deal in Desa Sri Hartamas in response to a query from Bursa Malaysia. In addition, YNH said it had also implemented an internal control policy to govern all transactions, in a bid to rectify its oversight in not disclosing the Desa Sri Hartamas land deal, and ensure that similar issues will not recur. YNH reveals 2022 turnkey construction details, applies internal controls to address land deal disclosure oversight