Trading ideas: UEM, SD Guthrie, Feytech, Tex Cycle, Public Bank, GenM, MMAG, Nestle, SEGi, Serba Dinamik, AME Elite, DXN, MBSB, TNB, CIMB
KUALA LUMPUR: Here is a recap of the corporate announcements that could spur trading activity today.

UEM Sunrise Bhd has partnered with Logos Infrastructure Holdco Pte Ltd to explore the opportunity to develop a data centre campus in Gerbang Nusajaya, Johor, which will be located on a 74-acre site with a potential capacity of up to 360MW.

Feytech Holdings Bhd proposed to acquire 9.8 acres freehold industrial land in Perak for RM20,0mn from DRB-Hicom Bhd ’s unit Proton City Development Corp Sdn Bhd.

Tex Cycle Technology (M) Bhd is looking to raise up to RM32.0mn via a private placement for the construction of an integrated scheduled waste management facility in Sabah.

Genting Malaysia Bhd has issued debt papers totalling RM1.3bn under 2 programmes.

Two former directors of MMAG Holdings Bhd ’s unit are facing charges related to alleged dishonest misappropriation of property.

Nestlé (Malaysia) Bhd has planted 2.8mn trees through its Project RELeaf and the previously accomplished Project RiLeaf.

SEG International Bhd’s minority shareholders should reject the takeover offer from managing director Tan Sri Clement Hii, according to its independent adviser-MainStreet Advisers Sdn Bhd.

Serba Dinamik Holdings Bhd will appeal a decision by Bursa Malaysia to delist the company on 5 June for not submitting its regularisation plan.

AME Elite Consortium Bhd is buying 3 parcels of freehold land, measuring 37.5 acres, in Kulai, Johor for RM106.2mn to develop an industrial cluster.

DXN Holdings Bhd has appointed its chief marketing officer Prajith Pavithran as its new chief executive officer.

Malaysia Building Society Bhd said its banking arm MBSB Bank Bhd's chief executive officer, Datuk Nor Azam M Taib, will be stepping down from his position effective June 30.

Tenaga Nasional Bhd net profit fell 28.6% YoY to RM715.7mn in 1QFY24 due to foreign exchange translation losses and higher tax expenses.

CIMB Group Holdings Bhd net profit rose 18.0% YoY to RM1.9bn in the 1QFY24 as both interest and non-interest income grew faster than costs and provisions.

SD Guthrie Bhd 1QFY24 net profit tripled from a year earlier to RM211.0mn, thanks to lower tax and strong downstream operations.

Berjaya Corporation Bhd 's net profit in the 3QFY24 jumped over 200 times YoY to RM694.6mn, representing a 9-year high, thanks largely to divestment and accounting gains.

SKP Resources Bhd posted a 53.0% YoY jump to RM24.7mn in its 4QFY24 net profit, thanks to cost control and improved manufacturing operation.

Ekovest Bhd 3QFY24 net profit narrowed 42.7% YoY to RM11.1mn despite still grappling with high finance costs.
Corporate News,Trading ideas,UEM Sunrise,SD Guthrie,Feytech,Tex Cycle,Public Bank,GenM,MMAG,Nestle,SEGi,Serba Dinamik,AME Elite,DXN,MBSB,TNB,CIMB
KUALA LUMPUR: Here is a recap of the corporate announcements that could spur trading activity today.