IJM Corp, 7-Eleven, Maybank, Southern Cable, Ancom Nylex, ECM Libra, MN Holdings, MGRC, Scomi, Bina Darulaman, Integrated Logistics, Ecoscience International and UMediC

KUALA LUMPUR (July 18): Here is a brief look at some corporate announcements and news feed from Monday July 18, including IJM Corp Bhd, 7-Eleven Malaysia Holdings Bhd, Malayan Banking Bhd (Maybank), Southern Cable Group Bhd (SCable), Ancom Nylex Bhd, ECM Libra Group Bhd, MN Holdings Bhd, Malaysian Genomics Resource Center Bhd (MGRC), Scomi Group Bhd, Bina Darulaman Bhd (BDB), Integrated Logistics Bhd, Ecoscience International Bhd and UMediC Group Bhd ( UMC).

IJM Corp Bhd proposed a first murabahah sukuk with a face value of RM360 million to be issued under an Islamic medium-term note program based on the Sharia principle of murabahah. This followed a subscription agreement signed between IJM Corp’s wholly owned subsidiary, Fairview Valley Sdn Bhd, with CIMB Investment Bank Bhd and CIMB Islamic Bank Bhd.

7-Eleven Malaysia Holdings Bhd weighs the exit of its pharmacy chain Caring Pharmacy Group Bhd, Bloomberg said according to the sources. The company could seek a valuation for the retailer of around RM1.78 billion as part of a deal.

Malaysian Bank Bhd (maybank) received an “AA” rating from MSCI ESG Ratings for the second consecutive year. Maybank said the “AA” leadership rating places it among the top 36% of the 189 highest-rated diversified banks globally based on the MSCI ACWI (All Country World Index), of which only 4% earned the highest rating of “AAA”.

Southern Cable Group Bhd (Cable) has signed a RM293.8 million contract to supply power cables to Tenaga Nasional Bhd (TNB) for a period of one year from July this year, with an optional extension for another year. SCable Chief Executive Tung Eng Hai said the latest Letter of Allocation (LOA) will improve the group’s earnings outlook for the current fiscal year ending December 31, 2022 and beyond.

Ancom Nylex Bhd recorded a year of exceptional profits during the fiscal year ended May 31, 2022 (FY22). The chemical group’s net profit for the fourth quarter ended May 31, 2022 (4QFY22) more than quadrupled or 330% to a record high of RM31.92 million from RM7.42 million during the same period of the previous financial year, mainly on the improvement of the commercial performances of its industrial chemicals and agricultural chemicals divisions.

ECM Libra Group Bhd Vice Chairman Datuk Lim Kian Onn, who launched a mandatory general offer (MGO) in May, had not received enough valid acceptances to allow him to control more than 50% of the group’s voting shares when from the closing of the offer on Monday 18 July. At market close, Lim and the persons acting in concert with him held in aggregate a 41.91% interest in the group. The MGO is conditional on the offeror receiving valid acceptances, which resulted in it controlling more than 50% of the shareholding.

MN Holdings Bhd has been awarded a contract worth RM26.9 million for the engineering, procurement, construction and commissioning (EPCC) of an interconnection facility for a utility scale solar PV power plant ( LSSPV) in Chuping, Perlis. Work is to commence immediately and be completed by September 30, 2023. With this contract, MN Holdings has managed to increase its backlog to approximately RM258 million.

Malaysian Genome Resource Center Bhd (CRMG) has appointed HLB Ler Lum Chew PLT as its external auditor for the financial year ending June 30, 2022, following the resignation of Crowe Malaysia PLT last month as the company’s auditor. The MGRC said Crowe resigned because his term had exceeded a five-year period.

Scomi Group Bhd and RC Asia Engineering Sdn Bhd (RCA), a private railway specialist, have mutually agreed to end their joint venture after the agreement expired on Friday July 15. The struggling oil and gas service provider blamed the delays in launching tenders for potential projects, the scrapping of the joint venture.

Bina Darulaman Bhd (BDB) has appointed Mohd Iskandar Dzulkarnain Ramli as Chief Executive Officer effective Monday, July 18. Mohd Iskandar first joined the company in 2014 as Head of Corporate Planning and Enterprise Risk Management and was appointed Chief Operating Officer in 2018.

Integrated Logistics Bhdwhich changed its name to ILB Group Bhd, said shares of the company will trade and list under the new name beginning at 9:00 a.m. on Tuesday July 19.

Ecoscience International BhdThe stock price was trading below its initial public offering (IPO) price of 30 sen on its first day, although the company’s order flow is unlikely to be affected by the sharp decline. current crude palm oil prices. Ecoscience opened at a discount of 29 sen to its IPO price. The meter traded between a high of 29.5 sen and a low of 25.5 sen on Monday, before closing at 26 sen. Its trading volume was 66.79 million shares. The company has a market capitalization of RM88.4 million based on a share price of 26 sen.

UMedic Group Bhd (CMU), which is set to list on Bursa Malaysia’s ACE Market on July 26, said the trading leg of its IPO was oversubscribed by 46.81 times. UMC, which allocated 18.7 million new shares in its IPO to the Malaysian public, said it received 7,888 applications from this class of investors for 893.92 million new shares.

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