KUALA LUMPUR (April 13): Based on corporate announcements and news flow today, companies that might be in focus on Friday (April 14) include the following: Handal Resources Bhd, SEG International Bhd, Borneo Aqua Harvest Bhd and Anzo Holdings Bhd.
Handal Resources Bhd has bagged a contract from ExxonMobil Exploration and Production Malaysia Inc to provide offshore crane maintenance services.
The Kemaman-based integrated offshore crane services provider and fabricator said its subsidiary Handal Offshore Services Sdn Bhd has entered into a goods and services outline agreement with ExxonMobil.
The three-year contract ends on April 9, 2020, with an option for further extension of one year.
SEG International Bhd (SEGi) has proposed a five-for-seven bonus issue of up to 516.82 million shares.
The private higher education provider said the bonus issue will be wholly capitalised from the group’s share premium account.
“The board has confirmed that based on SEGi’s latest audited financial statement for [the financial year ended Dec 31, 2016) at the company level, SEGi has adequate reserves available to be capitalised for the proposed bonus issue,” the group said.
Borneo Aqua Harvest Bhd plans to issue up to 325.67 million free warrants on the basis of one free warrant for every two existing Borneo Aqua shares to reward its shareholders and allow them to benefit from any potential capital appreciation arising from the exercise of the warrants.
The entitlement date is yet to be set and will be announced later.
The exercise price for the seven-year warrants is fixed at 87 sen per warrant, representing a premium of 3.88% over the five-day volume weighted average market price of Borneo Aqua shares up to and including the last market day immediately preceding this announcement of 83.75 sen.
The company plans to use the proceeds from the exercise of the warrants for working capital, which may include mine production cost, cost of prospecting on the subleased mining land measuring 289.7ha in Sabah, as well as its aquaculture business operations’ expenditure.
Anzo Holdings Bhd is close to bagging a contract worth up to RM1.21 billion from KL Northgate Sdn Bhd to build parts of a mixed-use commercial development that includes a five-storey shopping mall in Selayang.
Anzo said its wholly-owned unit Harvest Court Construction Sdn Bhd (HCCSB) has received a letter of intent (LOI) from KL Northgate to undertake construction works on the shopping mall — which has an estimated gross development value of RM3.6 billion — as well as carparks within the proposed development dubbed "Paragon @ KL Northgate".
KL Northgate's major shareholders are Transcend Development Sdn Bhd, Datuk Eddie Chai Woon Chet — who is also the group managing director of Anzo — and Curahan Yakin Sdn Bhd.
http://www.theedgemarkets.com/article/handal-resources-segi-and-anzo
