Trading ideas: Sime Plantation, Sapura Energy, Power Root, OCK, Pekat, Yinson, Mobilia, Siab, Ireka
KUALA LUMPUR: Here is a recap of the headline-making corporate announcements.

Sime Darby Plantation Bhd is making a foray into green industrial park, starting with the proposed development of the Kerian Integrated Green Industrial Park in Perak.

Sapura Energy Bhd ’s joint venture companies have bagged contracts from Petroleo Brasileiro Sa worth USD1.8bn (RM8.5bn) to provide engineering services via six pipe-laying support vessels.

Power Root Bhd 's subsidiaries have successfully recovered trademark of its own “Ah Huat” brand for coffee and tea beverages, after reaching an amicable out-of-court settlement with its Indonesian distributor CV Ego Sun Star Sukses Mandiri.

OCK Group Bhd has entered into a 15-year tower leasing agreement with Best Telecom Co Ltd, marking its entry into Laos, where Best Telecom plans to launch their 5G network by the end of the year.

Pekat Group Bhd has signed a non-binding agreement to acquire a stake in switchgears supplier EPE Switchgear (M) Sdn Bhd.

The takeover bid by Yinson Holdings Bhd ’s major shareholder for Icon Offshore Bhd has turned unconditional after it received more than 50% of voting shares.

Mobilia Holdings Bhd is planning to issue up to 218.8mn free warrants (Warrants-B), on the basis of one Warrant-B for every four existing shares held, and the indicative exercise price is 15 sen apiece.

Siab Holdings Bhd has signed an underwriting agreement with M&A Securities and NewParadigm Securities Sdn Bhd for the group's rights issue with warrant exercise, aiming to raise RM92.0mn.

Ireka Corp Bhd 's subsidiary, Ireka Development (Terengganu) Sdn Bhd, and its directors are facing legal action from the Employee Provident Fund over unpaid contributions amounting to RM50,196.

Urusharta Jamaah Sdn Bhd, a special purpose vehicle established under the Ministry of Finance to rehabilitate, restructure and monetise underperforming assets transferred to it from Lembaga Tabung Haji, has emerged as a substantial shareholder in Prolintas Infra Business Trust.

CTOS Digital Bhd posted a 25.6% YoY jump in its 1QFY24 net profit to RM20.8mn, as it recorded higher revenue and lower tax expense following the approval of a tax incentive for its main subsidiary CTOS Data Systems Sdn Bhd.

Awanbiru Technology Bhd reported a net profit of RM2.1mn for 3QFY24, a significant turnaround from the net loss of RM2.0mn a year ago, as its software and services segment secured major contracts with higher revenue.
Corporate News,Trading ideas,Sime Darby Plantation,Sapura Energy,Power Root,OCK,Pekat,Yinson,Mobilia,Siab,Ireka
KUALA LUMPUR: Here is a recap of the headline-making corporate announcements.