KUALA LUMPUR (Jan 10): Based on corporate announcements and news flow today, companies that may be in focus on Wednesday (Jan 11) could include: Omesti, Tasco, IFCA MSC, Muhibbah, Paramount Corp, Versatile Creative, MAHB, TM and Pasukhas.
Omesti Bhd announced today that it will continue its partnership with global digital court recording systems provider Justice AV Solutions (JAVS), which forms an integral component of its eCOURTS platform.
As a JAVS authorised dealer, Omesti, through its subsidiary Formis Research & Development Sdn Bhd, will offer JAVS Premier, Select and Core Lines to clients in Asia.
Omesti has been granted exclusive distribution rights in 10 countries, including Malaysia, Thailand, Laos, Cambodia, Vietnam, Indonesia, Philippines, Brunei, East Timor and Sri Lanka.
Tasco Bhd is entering into cold chain logistics and has today inked a sale and purchase agreement with Chang Kok Fai and Chan Sun Cheong to acquire Gold Cold Transport Sdn Bhd for up to RM188 million.
Tasco said an initial deposit for the proposed acquisition amounting to approximately RM3.72 million was paid and funded via internal funds while the remainder is expected to be funded via borrowings and/or advances from its holding company Yusen Logistics Co Ltd, but the exact quantum has not been determined.
On the rationale for the acquisition, Tasco said its venture into cold chain logistics is a natural step forward given the group's involvement in traditional ambient warehousing and its vast experience in fast moving consumer goods and retail industries.
IFCA MSC Bhd has been slapped with an unusual market activity query from Bursa Malaysia, after its share price rose sharply by 34.6% today.
The counter closed 9 sen or 34.6% higher at 35 sen — its highest closing since Nov 16, 2016 — with some 110.07 million shares traded. It was the third most actively-traded stock on the exchange.
Bursa Malaysia requested the company to disclose any corporate development, rumour, report or any other possible explanation for the unusual trading of its shares.
Prior to today's sharp rise, the counter has been on a declining trend since late September and touched an intra-day low of 23 sen on Nov 30, 2016.
Muhibbah Engineering (M) Bhd has bagged a contract worth approximately Qatari Riyal 356.7 million (RM438.1 million) from Economic Zones Company of Qatar (MANATEQ) for the construction of roads and infrastructure works at Um Alhoul Economic Zone (QEZ-3) Phase 2.1 (Portion 2A, Marine Cluster), Qatar.
The group's 49%-unit Muhibbah Engineering Middle East LLC has formalised the contract with MANATEQ yesterday. The project will commence immediately and is expected be completed by second quarter of 2018.
Paramount Corp Bhd has requested the suspension of its share trade tomorrow ahead of a material announcement, it said in a bourse filing this evening.
The announcement came after The Edge Weekly's report on Monday, citing unnamed sources, stated that Paramount is disposing of its education arm's assets to a private real estate investment trust (REIT) as part of its asset-light strategy.
The business weekly also revealed that the private REIT has secured a local pension fund as its cornerstone investor.
Versatile Creative Bhd has entered into a deal with Double Action Ventures Sdn Bhd to look into developing medium-cost apartments on a 3.2-acre piece of alienated land in Johor Bahru.
The group said the estimated gross development value of the project will be RM110 million.
The paper manufacturer said its indirect wholly-owned unit Versatile Smart Properties Sdn Bhd signed a memorandum of understanding (MoU) with Double Action today.
The group also added that a definitive agreement between the parties is expected to be drawn up within the next four months subject to the commercial viability of the project.
Malaysia Airports Holdings Bhd (MAHB) and Telekom Malaysia Bhd (TM) have signed a MoU for the development of integrated telecommunications, ICT and smart services for the KLIA Aeropolis project.
The MoU was signed by their respective wholly-owned subsidiaries, Malaysia Airport (Sepang) Sdn Bhd and VADS Lyfe Sdn Bhd.
TM and MAHB will be working closely to strengthen the existing telecommunication and ICT infrastructure at KLIA Aeropolis. At the same time, both parties will explore ways to incorporate smart services through the provisioning of Internet of Things (IoT) enabled smart services.
Pasukhas Group Bhd's wholly-owned subsidiary Pasukhas Sdn Bhd has today served a payment claim under Section 5 of the Construction Industry Payment and Adjudication Act 2012 against Emerald Capital (Ipoh) Sdn Bhd for an outstanding amount of RM8.3 million.
The payment claim is related to an 18-storey condominium development project in Perak.
http://www.theedgemarkets.com/my/article/omesti-tasco-ifca-msc-muhibbah-paramount-corp-versatile-creative-mahb-tm-and-pasukhas
