Trading ideas: Hextar, Magna, Coastal, Kerjaya, Resintech, Ocean, DPS, Destini, Atlan, Theta, Asiapac, CIMB, Maxis, CelcomDigi, Affin, Carlsberg, Pos, TMC, Comfort
This report summarizes various corporate developments in Malaysia, including property diversification, leadership changes, and contract acquisitions. Key updates involve Hextar Global's new property project and various board reshuffles across multiple firms.
Why it matters
These updates provide essential market intelligence for investors tracking the Malaysian corporate sector and regional economic activity.
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Hextar Global Bhd is diversifying into property development through a RM3.8bn GDV mixed-use project in Shah Alam with a unit of Perbadanan Kemajuan Negeri Selangor.
Magna Prima Bhd has entered into an agreement to take over and complete the stalled 8 Conlay mixed-use development in Kuala Lumpur under a restructuring exercise capped at RM700.0mn.
Coastal Contracts Bhd is selling an offshore support vessel to an undisclosed buyer for RM175.8mn.
Kerjaya Prospek Group Bhd has emerged as the largest shareholder of ES Sunlogy Bhd with 28.3% stake after acquiring shares from 18 shareholders for RM40.2mn.
Resintech Bhd ’s 55%-owned subsidiary secured RM41mn financing to redeem four land parcels in Telok Panglima Garang and fund 80% of construction costs for a 158-unit hostel development with retail facilities.
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