Trading ideas: Suria, XOX, Nestcon, Sapura Resources, Kucingko, Pharmaniaga, Wasco, YTL, AMMB, Sarawak Cable, Avaland, LHI
KUALA LUMPUR: Here is a recap of the announcements from Coprorate Malaysia.

Suria Capital Holdings Bhd will be jointly developing the Jesselton Docklands 1 project with Jesselton Docklands 1 Sdn Bhd and Suria Capital will be entitled to at least RM180mn, representing 18% of the estimated net development value of RM1.0bn.

XOX Bhd said it plans to consolidate every 30 of its shares into one share a month after its proposed share capital reduction to set off its accumulated losses.

Nestcon Bhd announced that its 51%-owned unit Nestcon Sustainable Solutions Sdn Bhd, has secured a RM3.6mn contract to develop and install a solar photovoltaic system.

Sapura Resources Bhd ’s wholly-owned subsidiary Sapura Aero Sdn Bhd has inked an agreement with Nilai University to explore opportunities in academic and industry cooperation.

Animation company Kucingko Bhd has signed an underwriting agreement with Kenanga Investment Bank Bhd for its upcoming initial public offering on the ACE Market of Bursa Malaysia.

Practice Note 17 flagged Pharmaniaga Bhd has introduced a strategic plan, dubbed Vision 525, which is aimed at achieving the company’s goals through actionable and measurable objectives.

Wasco Bhd is confident about the outlook for its pipe coating, engineering and fabrication and biomass energy segments, underpinned by its strong order book of RM3.2bn, tender book of RM7.3bn and a potential market size of RM13bn.

Swiss investment bank UBS Group AG has ceased to be a substantial shareholder of YTL Corp Bhd after a series of share disposals since February, which eventually led to its shareholding in the company falling below the 5% threshold.

The Australia & New Zealand Banking Group Ltd has disposed of its remaining 5.17% stake in AMMB Holdings Bhd for RM701.2mn.

Sarawak Cable Bhd said it is being sued by Serendib Capital Ltd over the termination of a memorandum of agreement between the two parties to undertake a "resuscitation exercise" to revive the loss-making manufacturer.

Avaland Bhd has topped out the Sanderling condominium, which has a 90% take-up rate.

Leong Hup International Bhd ’s group chief executive officer Tan Sri Lau Tuang Nguang has bought a total of 8.9mn shares in the poultry, egg and livestock feed producer over the past week, for about RM5.0mn.
Corporate News,Trading ideas,Suria,XOX,Nestcon,Sapura Resources,Kucingko,Pharmaniaga,Wasco,YTL,AMMB,Sarawak Cable,Avaland,LHI
KUALA LUMPUR: Here is a recap of the announcements from Corporate Malaysia.