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© Delivered by The Edge

KUALA LUMPUR (Jan 22): Dependent on company announcements and news stream currently, stocks in aim on Monday (Jan 25) may possibly incorporate: Tenaga Nasional Bhd, Supermax Corp Bhd, CIMB Group Holdings Bhd, Dagang NeXchange Bhd, SC Estate Builder Bhd, FGV Holdings Bhd, Serba Dinamik Holdings Bhd, HB International Ltd and PLS Plantations Bhd.

Tenaga Nasional Bhd‘s (TNB) overseas shareholding fell to 12.87% as at Dec 31, 2020 from 13.81% as at conclude-November 2020, in accordance to the Malaysian Govt-controlled utility’s most current updates on overseas investors’ possession of the company’s shares. The December and November 2020 updates, which were being printed on TNB’s web page on Monday (Jan 18), confirmed that its hottest foreign shareholding figures had fallen from 17.62% as at end-February 2020.

Supermax Corp Bhd spent RM53.92 million to purchase again its personal shares currently, its very first share buyback exercise this calendar year. In a bourse submitting, the glove maker reported it bought back again 8.15 million shares at amongst RM6.24 and RM6.70 apiece. It now retains 102.98 million cumulative net outstanding treasury shares, which is equal to 3.79% of its overall share funds of 2.72 billion shares.

CIMB Group Holdings Bhd has appointed Paul Wong Chee Kin as president and CEO of CIMB Thai effective Feb 1, 2021, succeeding performing president and CEO Sutee Losoponkul right after the departure of the preceding CEO, Adisorn Sermchaiwong. The group explained Losoponkul will continue being with CIMB Thai and presume the part of advisor to the president and CEO, until Dec 31, 2021. Wong is currently CIMB’s team chief functions officer, overseeing things to do across functions in payments, digitalisation, approach, consumer shipping and course of action enhancements.

Dagang NeXchange Bhd (DNeX) is acquiring an additional 60% of the issued share capital in Ping Petroleum Ltd for US$78 million (RM314.3 million), as the team appears to be like to further more fortify its presence in the upstream oil and fuel (O&G) segment.

DNeX reported it entered into a conditional share sale and purchase settlement with the other shareholders of Ping to purchase the stake, which on completion will boost its holdings in the latter to 90%.

It reported the transaction rate for the 60% stake signifies a lower price of about 40% of the industry valuation of Ping’s proved and probable (2P) reserve.

The buy will be satisfied by a mix of US$40.95 million in dollars, and the issuance of new standard shares in DNeX and new redeemable preference shares in its wholly-owned unit DNeX Vitality Sdn Bhd, for the remaining US$37.05 million.

SC Estate Builder Bhd has proposed to undertake a private placement of up to 20% of the whole selection of issued shares to 3rd-celebration investors at an difficulty price tag to be identified later on. The construction group said that dependent on the indicative difficulty value of 5.5 sen for each placement share, the proposed personal placement is predicted to increase gross proceeds of RM10.54 million.

FGV Holdings Bhd’s non-intrigued administrators have advisable that minority shareholders reject the proposed takeover provide for the plantation group’s shares at RM1.30 each by the Federal Land Growth Authority’s (Felda), stating the offer is not good and not acceptable soon after having into account FGV’s reasonable price and preliminary public supplying (IPO) share price of RM4.55 each.

Impartial adviser RHB Investment decision Bank Bhd said the FGV non-fascinated directors contended that the give value is not good since it is beneath the reasonable worth of RM1.42 to RM1.60 for each FGV share as established by impartial adviser RHB.

RHB, on the other hand, reported while Felda’s proposed takeover give for FGV’s shares at RM1.30 each and every is not reasonable, it is acceptable in the absence of an option proposal and Felda’s intention not to retain FGV’s listing status. For this reason, RHB advisable minority shareholders to acknowledge the offer you.

Serba Dinamik Holdings Bhd mentioned right now its proposed personal placement involving 336.83 million new shares was oversubscribed by 1.85 periods. In conjunction with the completion of the private placement’s e book-building physical exercise, the oil and gasoline support supplier claimed the concern price tag of the non-public placement shares was preset at RM1.51 for each share, and that it is envisioned to raise gross proceeds of RM508.61 million from the work out.

HB International Ltd has proposed to elevate RM12.17 million by way of a non-public placement to repay lenders, and for use in foreseeable future investments and operating capital. The reduction-building China-dependent frozen meals maker reported it would be issuing 93.6 million placement shares or 20% of its overall share money, at an indicative situation value of 13 sen to 3rd-party traders.

PLS Plantations Bhd has proposed to position out 19 million new shares in the durian planter to CIMB Group Holdings Bhd’s ex-chairman Datuk Seri Nazir Razak at 95 sen each individual below a personal placement of up to 10% of the whole amount of issued shares in the corporation to enhance its public shareholding spread and raise money to finance the expansion of its current organization.

PLS mentioned the placement, which contains share placements to other unbiased 3rd-party traders, will also permit the firm to raise resources to partly repay the group’s bank borrowings, which stood at about RM121.48 million as at Dec 31, 2020.