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Inta Bina, Oceancash, EA Technique, MHB, MyEG, S P Setia, SimeProp, Tien Wah, Willowglen and Zelan

TheEdge Fri, Oct 05, 2018 11:32pm - 1 year ago

KUALA LUMPUR (Oct 5): Based on corporate announcements and news flow today, companies that may be in focus on Monday (Oct 8) may include the following: Inta Bina Group Bhd, Oceancash Pacific Bhd, EA Technique Bhd, Malaysia Marine Heavy Engineering Holdings Bhd, My EG Services Bhd, S P Setia Bhd, Sime Darby Property Bhd, Tien Wah Press Holdings Bhd, Willowglen MSC Bhd and Zelan Bhd.

ACE-Market-listed Inta Bina Group Bhd and Oceancash Pacific Bhd have separately received the nod from Securities Commission to transfer their listings to the Main Market of Bursa Malaysia.

Construction player Inta Bina was listed on May 25, 2017. Oceancash, which is involved in the manufacturing of non-woven fabric for consumer sector, auto and air-conditioning, was listed in 2004.

Malaysia Marine Heavy Engineering Holdings Bhd (MHB) filed a payment claim of US$30.22 million (RM125.41 million) against EA Technique (M) Bhd today, just days after it received a US$21.74 arbitration from the latter. The two came into loggerheads amid a contract to convert a vessel into a floating storage and offloading (FSO) facility, which the two companies inked in 2015. An attempt to reach a settlement failed on June 22 this year.

My EG Services Bhd has added a blockchain-based payroll management software dubbed “PayMe” to its line of services.

The software — targeted at corporate clients — will enable employers to record and manage overtime with better accuracy and efficiency, MyEG said.

S P Setia Bhd and Sime Darby Property Bhd, which each own 40% of Battersea Project Holding Co Ltd (BPH), confirmed that the deadline to finalise a proposed £1.61 billion (RM8.8 billion) sale in a unit of BPH has been postponed to Dec 31, from Sept 30 previously.

Permodalan Nasional Bhd and the Employees’ Provident Fund (EPF) had in January proposed to acquire commercial assets worth £1.61 billion in BPH’s unit Battersea Phase 2 Holding Co. BPH is also 20%-owned by EPF.

Tien Wah Press Holdings Bhd’s 51%-owned indirect Australian unit Anzpac Services (Australia) Pty Ltd is disposing of a parcel of land with a building in New South Wales for A$22.02 million (RM65.18 million) to CEA Property Pty Ltd. This disposal follows the cessation of Anzpac’s printing business, which was first announced in June, and as part of Tien Wah’s strategy to reduce operating costs.

Willowglen MSC Bhd today secured a RM139.36 million contract from Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd to construct and maintain communication systems for the Gemas-Johor Bahru electrified double-track project. The RM8.9 billion rail project, currently developed by a Chinese consortium, is scheduled for completion on Oct 2021. Willowglen said its works on the project will be completed by April 2021.

Zelan Bhd has been slapped with a US$1.15 million (RM4.77 million) claim by Chinese power equipment maker Dongfang Electric Corp in relation with a coal-fired steam power plant project in Central Java, Indonesia. This is in respect of disputes and differences arising from a 2014 agreement between a unit of Zelan and Dongfang, said the company. “Zelan shall take all necessary steps to defend or safeguard ZHSB’s interests in the arbitration proceedings, including but not limited to seeking legal advice on the merits of the claims by Dongfang,” it said in a filing.

Related Stocks

BURSA 5.510
INTA 0.255
MYEG 1.120
SIME 2.000
WILLOW 0.490
ZELAN 0.070


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