AAX, Capital A, Euro Holdings, HB Global, Lotte Chemical Titan, MAHB, Muhibbah Engineering, NWP, Optimax, Revenue, Sapura Energy, Serba Dinamik, Supermax, Suria Capital, TM, UMW and Uzma

AAX, Capital A, Euro Holdings, HB Global, Lotte Chemical Titan, MAHB, Muhibbah Engineering, NWP, Optimax, Revenue, Sapura Energy, Serba Dinamik, Supermax, Suria Capital, TM, UMW and Uzma

KUALA LUMPUR (Feb 14): Based on corporate announcements and news flow on Monday, companies in focus on Tuesday (Feb 15) may include: AirAsia X Bhd (AAX), Capital A Bhd, Euro Holdings Bhd, HB Global Ltd, Lotte Chemical Titan Holding Bhd (LCT), Malaysia Airports Holdings Bhd (MAHB), Muhibbah Engineering (M) Bhd, NWP Holdings Bhd, Optimax Holdings Bhd, Revenue Group Bhd, Sapura Energy Bhd, Serba Dinamik Holdings Bhd, Supermax Corp Bhd, Suria Capital Holdings Bhd, Telekom Malaysia Bhd (TM), UMW Holdings Bhd and Uzma Bhd.

AirAsia X Bhd (AAX) said it has secured full belly space utilisation for one third of its wide body A330-300 fleet for an initial period of one year, under Teleport, the logistics venture of Capital A Bhd. It said it would use the additional capacity from AAX to fulfil its robust customer requirements, both intra and across the whole of Asia Pacific. AAX’s CEO Benyamin Ismail said the company was also in discussions with several other major global clients that have air cargo requirements, particularly to where it has established bases and flying rights. Meanwhile, AAX’s COO Captain Suresh Kumar Bangah said AAX intends to add a further one plane a month to full service from now and hopes to have a full fleet operational by the end of the third quarter.

Euro Holdings Bhd said its proposed special placement of 74 million shares has been called off, as the furniture company expects to comply with Bursa Malaysia’s minimum 25% public spread requirements upon completion of its other corporate proposals. This comes after it had received notification from its major shareholder and group managing director Datuk Seri Lim Teck Boon and his holding companies, SPA Furniture (M) Sdn Bhd, Imponotive Auto Sdn Bhd (IASB) and Supreme Power Auto Sdn Bhd (SPASB) that they will no longer be undertaking the offer of sale.

HB Global Ltd plans to undertake a private placement to raise about RM23.1 million to fund future investments and for working capital purposes. The food processing group said the placement entails the issuance of up to 154 million shares, representing 20% of its issued shares of 770 million as of Jan 26.

Lotte Chemical Titan Holding Bhd (LCT) said its US associate Lotte Chemical USA Corp (LC USA) has transferred an additional 3.23% of its equity interest in LACC LLC (which owns an ethane cracker plant in the southeastern US state of Louisiana) to Eagle US 2 LLC.

The stake was sold for US$89.095 million (RM373.35 million). With this, Eagle US’ shareholding in LACC will rise to 50%, with LC USA holding the remaining 50% stake. LCT owns 40% of LC USA, with the balance 60% owned by LCT’s parent, Lotte Chemical Corp.

The High Court has set April 6 to deliver its decision on Malaysia Airports Holdings Bhd (MAHB)'s application to strike out a RM479.78 million suit filed by Capital A Bhd (formerly known as AirAsia Group Bhd) and AirAsia X Bhd (AAX) against the airport operator. Capital A and AAX are suing MAHB's wholly-owned unit Malaysia Airports (Sepang) Sdn Bhd (MASSB) for loss and damages due to negligence at Kuala Lumpur International Airport's second terminal, klia2.

Muhibbah Engineering (M) Bhd’s wholly owned unit Citech Energy Recovery Solutions UK (Ltd) has secured purchase orders of RM50.3 million from Siemens Energy of Sweden and Houston. The engineering company said the two orders are for waste heat recovery units. The deal is expected to contribute to its earnings and net assets for the year ending Dec 31, 2022.

NWP Holdings Bhd has received a notice of demand from Seri Tiara Development Sdn Bhd, in relation to the outstanding rentals, service charges and late payment interest between Oct 2021 and Feb 2022, totalling RM2.6 million for a premise in Block A, Desa Commercial Centre. The delay in payment is because there are no subtenants for the premise and therefore, no income is being received for the rental payments.

Optimax Holdings Bhd has proposed a bonus issue of up to 405 million shares on the basis of one bonus share for every existing share held. The company said the theoretical ex-bonus price of 59 sen was based on the five day volume-weighted average market price of RM1.18.

Revenue Group Bhd completed its transfer from the ACE Market to the Main Market of Bursa Malaysia as of Monday.

Sapura Energy Bhd said five of its wholly-owned subsidiaries have been served with winding-up petitions by separate petitioners in relation to unpaid contract sums, settlement agreement sums and judgment sums. None of the subsidiaries — Sapura Fabrication Sdn Bhd, Sapura Project Services Sdn Bhd, Sapura Subsea Services Sdn Bhd, Sapura Offshore Sdn Bhd and Sapura Pinewell Sdn Bhd — are major subsidiaries as defined under Chapter 1 of the Main Market Listing Requirements.

Serba Dinamik Holdings Bhd has failed in its application for a stay of a court order requiring the group to make public the fact-finding update done by Ernst & Young Consulting Sdn Bhd. Judicial Commissioner Wan Muhammad Amin Wan Yahya made the decision following a hearing in the High Court on Monday.

Supermax Corp Bhd has aborted a plan to acquire two pieces of freehold land in Setia Alam, Selangor from S P Setia Bhd's subsidiary Bandar Setia Alam Sdn Bhd for RM73.49 million cash to build an operations headquarters for its wholly-owned subsidiary Maxter Glove Manufacturing Sdn Bhd. The group had failed to obtain approval from the Economic Planning Unit to waive a 30% Bumiputera equity ownership condition prior to transferring ownership of the land on Dec 15, 2021.

Suria Capital Holdings Bhd said it has signed a memorandum of understanding with Vandelay Ventures Sdn Bhd to develop the Sabah Maju Jaya Renewable Energy Industrial Complex at Sapangar Bay in Kota Kinabalu. The complex is expected be completed by 2025 and bring in an investment of RM700 million.

It will involve a hydrogenated vegetable oil plant to produce sustainable aviation fuel from used cooking oil, waste animal fat and other industrial and agricultural residual products. The development will also involve a palm oil refinery complex to cater to the palm oil industry in Sabah’s West Coast and Interior Division.

Telekom Malaysia Bhd's (TM) subsidiary Webe Digital Sdn Bhd has accepted an offer from the Malaysian Communications and Multimedia Commission (MCMC) for spectrum assignment for 20 megahertz (MHz) in the 2,575MHz to 2,595MHz frequency band. TM said Webe had agreed to an upfront fee of RM7.06 million and an annual fee component of RM5.98 million to be paid throughout the assignment period of five years, starting from July 1, 2022. Webe has submitted the acceptance of the spectrum assignment and has paid the upfront fee of RM7.06 million, according to TM.

UMW Holdings Bhd’s automotive arm, UMW Toyota Motor Sdn Bhd, said it saw 7,528 combined sales for Toyota and Lexus in January, an increase of 96% compared to the same month last year. The carmaker said Vios reigns as the best selling Toyota model, capturing 28% of January’s sales, while Hilux is its best selling pick-up truck, contributing 38% of total sales.

Uzma Bhd said its wholly-owned subsidiary Uzma Engineering Sdn Bhd has received a contract from ExxonMobil Exploration and Production Malaysia Inc. The scope of work of the contract — for a period of two years until Jan 12, 2024 — comprises non-rig assisted electric wireline logging equipment and services at Peninsular Malaysia waters. Meanwhile, Uzma also announced the appointment of Datuk Farisha Pawan Teh as its new independent and non-executive director.

https://www.theedgemarkets.com/article/aax-capital-euro-holdings-hb-global-lotte-chemical-titan-mahb-muhibbah-engineering-nwp