Trading ideas: Joe Holdings, Nylex, PUC, L&P, SCIB, MRCB, Nova MSC, KLCC Property and Tropicana

TheStar Mon, Jan 29, 2024 08:45am - 3 months View Original

KUALA LUMPUR: Companies that recently made headlines include Joe Holdings, Nylex, PUC, L&P, SCIB, MRCB, Nova MSC, KLCC Property and Tropicana, said Apex Securities Research.

Joe Holding Bhd, formerly GPA Holdings Bhd, is selling its entire 70% stake in its subsidiary GP Products Sdn Bhd (GPP) to long-time shareholder Lim Siew Sooi for RM12.7 million.

Nylex (Malaysia) Bhd, which was unable to submit a regularisation plan to address its Practice Note 17 (PN17) status by the extended deadline of Friday, said it is submitting an appeal against Bursa Securities' decision to suspend and delist its shares.

Proven Venture Capital Ltd has disposed of its entire stake in PUC Bhd and ceased to be a substantial shareholder of the group. Proven Venture has disposed of 185.87 million shares or a 7.85% stake in the technology group via an off-market transaction on Friday.

Bursa Malaysia has approved the transfer of L&P Global Bhd’s listing status from the ACE Market to the Main Market, under the Industrial Products & Services sector.

Sarawak Consolidated Industries Bhd (SCIB) said it is acquiring leasehold plots in Demak Laut Industrial Park in Kuching from the Land and Survey Department of Sarawak measuring 8.85ha for RM21.62 million cash.

Malaysian Resources Corp Bhd (MRCB), Berjaya Land Bhd (BJLand) and IJM Construction Sdn Bhd (IJM) confirmed that they are in a consortium, together with Keretapi Tanah Melayu Bhd (KTMB), to bid for the Kuala Lumpur-Singapore high-speed rail (HSR) project.

Nova MSC Bhd has secured an automation project wroth RM20.8 million from a Singaporean firm which entails the supply, delivery, installation, testing and commissioning of a fully operational automated administration, labelling and sample processing system.

KLCC Property Holdings Bhd (KLCCP) is buying the remaining 40% equity interest in Suria KLCC Sdn Bhd, which owns and manages Suria KLCC Mall here, for RM1.95 billion.

Tropicana Corp Bhd has proposed to sell its Courtyard by Marriott Penang Hotel for a total cash consideration of RM165 million, to a unit of IOI Properties Group Bhd.


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