S P Setia, UEM Sunrise, Bermaz Auto, Gamuda, Aurelius Technologies, Hong Leong Bank, Talam Transform and Oriental Holdings

TheEdge Wed, Jun 12, 2024 01:50am - 1 week View Original

KUALA LUMPUR (June 11): Here is a brief recap of some corporate announcements that made news on Tuesday. 

S P Setia Bhd (KL:SPSETIA), which previously failed to sell its 959.72-acre Tebrau land to Scientex Bhd (KL:SCIENTX) due to Bumiputera requirement issues, has finally sold the plot to a company linked to tycoon Tan Sri Syed Mokhtar Albukhary for RM564 million, cash. S P Setia first tried to sell the land to Scientex in 2021 for RM518.1 million, but the deal fell through in March 2023 after Scientex failed to obtain a waiver of the Bumiputera equity condition imposed by the Economic Planning Unit (EPU). Four months later, both parties revisited the deal with an increased price of RM547.65 million. That was aborted in January this year after Scientex again failed to gain the EPU's approval. In a statement on Tuesday, S P Setia said the disposal of the land was conducted through its subsidiary Pelangi Sdn Bhd and was completed earlier in the day with Senibong Island Sdn Bhd. — Syed Mokhtar's firm buys S P Setia's Tebrau land for RM564 mil cash

State-owned property developer UEM Sunrise Bhd (KL:UEMS) is selling land in Johor for RM144.9 million cash for the development of a data centre. Located in Iskandar Puteri, the two parcels of freehold land measure about 11.7 hectares (28.9 acres). It did not disclose the buyer but identified it as “a leading global data centre industry player”. The proposed disposal came on the heels of UEM Sunrise's memorandum of understanding with LOGOS Infrastructure Holdco Pte Ltd, signed in May, to develop a data centre campus in Gerbang Nusajaya. — UEM Sunrise to sell Johor land for RM144.9m to data centre company 

Bermaz Auto Bhd (KL:BAUTO) said its net profit fell 10.3% to RM90.2 million for its fourth quarter ended April 30, 2024 (4QFY2024), from RM100.6 million a year ago, dragged down by lower revenue despite higher profit contribution from associated company Kia Malaysia Sdn Bhd. Earnings per share declined to 7.73 sen in 4QFY2024 from 8.63 sen a year ago. Quarterly revenue dropped 12.6% to RM937.5 million from RM1.1 billion, mainly due to lower sales volume from the Mazda and Kia marque in its domestic operations. It declared a fourth interim dividend of 4.75 sen per share and a special dividend of seven sen per share, totalling 11.75 sen per share, to be paid on Aug 2. This brings its total dividend for FY2024 to 26 sen per share, against 22 sen per share in FY2023. — Bermaz Auto's 4Q net profit drops 10% on lower revenue, declares 11.75 sen dividend

Gamuda Land, the property arm of Gamuda Bhd (KL:GAMUDA), announced that its redevelopment plans for the 75 London Wall building in London with UK-based real estate investors Castleforge Partners have been approved. The 75 London Wall, which was earlier referred to as Winchester House and was formerly the UK headquarters of Deutsche Bank, is expected to be turned into office spaces. — Gamuda Land’s redevelopment plans for 75 London Wall building in London approved

UK-based Abrdn plc has emerged as a substantial shareholder of Kedah-based electronic manufacturing services (EMS) provider Aurelius Technologies Bhd (KL:ATECH). Abrdn purchased 27.83 million shares, representing a 7.062% stake in the company, on June 6. But, the transaction price was not disclosed. The group’s major shareholders are Main Stream Holdings Sdn Bhd with a 20.04% stake, and Main Stream Ltd with a 19.36% stake, according to its latest annual report. They are the private vehicles of its executive director and chief executive officer (CEO) Loh Hock Chiang, and the late Lee Chong Yeow, ATech's co-founder and former CEO. — Abrdn emerges as Aurelius Technologies' substantial shareholder via 7.06% stake buy

Hong Leong Bank Bhd (KL:HLBANK) has issued RM1 billion in nominal value of Tier 2 subordinated notes, pursuant to its multi-currency Tier 2 subordinated programmes. The bank said the RM1 billion debt notes have a 10-year tenure with a five-year non-callable period and carry a coupon rate of 4.05% per annum. The coupon payments are scheduled every six months, with the first call date on June 11, 2029. The subordinated notes are rated AA1 by RAM Rating Services Bhd. — Hong Leong Bank issues RM1 bil debt notes

Tan Sri Dr Chan Ah Chye, the major shareholder and director of property developer Talam Transform Bhd (KL:TALAMT), passed away on Tuesday morning at the age of 78. The group confirmed the demise of Chan, who was its non-independent and non-executive director — a post he was re-designated to in 2009. Prior to that, Chan, who joined the group's board on Nov 6, 1990, was its executive chairman. According to an obituary sighted by The Edge, Chan left behind his wife Puan Sri Thong Nyok Choo, his son Chan Tet Eu, who is currently an executive director of Talam Transform, and his daughters Chan Siu Wei and Candice Chan Siu Ching. — Talam Transform’s major shareholder Chan Ah Chye passes away at age 78

Soaring Success Sdn Bhd, a company linked to the Loh family, has become the largest shareholder in Oriental Holdings Bhd (KL:ORIENT). This follows the transfer of a 36.74% stake in Oriental Holdings from Pacific Carnival Sdn Bhd to Soaring Success, as part of an internal restructuring of the Loh family's private companies. Soaring Success is owned by Loh Kar Bee Holdings Sdn Bhd, which is controlled by Loh Kar Bee — son of the late Tan Sri Loh Boon Siew, according to the Companies Commission of Malaysia. The group's filings indicate that Datuk Loh Kian Chong, along with Loh Oon Ling and Loh Wei Lyn, remain substantial shareholders through Soaring Success. Kian Chong, a grandson of the late Boon Siew, serves as the executive chairman of Oriental Holdings, while Wei Lyn is the daughter of Boon Siew’s late son, Loh Kah Kheng and his widow Shirley Kathreyn Yap. Additionally, Loh Gim Ean Holdings Sdn Bhd and Loh Phoy Yen Holdings Sdn Bhd, the private vehicles of Boon Siew’s daughters Loh Gim Ean and Loh Phoy Yen, have ceased to be shareholders in Oriental Holdings. — Loh family's Oriental Holdings stake changed hands, some members out


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