• Thu. Sep 28th, 2023

    Corporate Announcements Recap: Cypark Resources, Mercury Securities, Kuala Lumpur Kepong, and More

    ByEmma Wolukau-Wanambwa

    Sep 19, 2023
    Corporate Announcements Recap: Cypark Resources, Mercury Securities, Kuala Lumpur Kepong, and More

    In a series of corporate announcements, several companies made news on Tuesday. Here is a summary of the key developments:

    Cypark Resources Bhd reported the emergence of a new substantial shareholder, Chung Dao, who acquired a 5.5% stake in the company. Meanwhile, Chung Chee Yang ceased to be a substantial shareholder after disposing of 40 million shares.

    Mercury Securities Group Bhd debuted on the stock market at a 20% premium over its initial public offering price. The stockbroker’s shares closed at 30 sen, with a trading volume of 219.99 million shares.

    Kuala Lumpur Kepong Bhd (KLK) acquired an additional 1.34 million shares of Boustead Plantations Bhd (BPlant) from the open market. This acquisition followed Defence Minister Datuk Seri Mohamad Hasan’s defense of the Armed Forces Fund Board’s proposed move to offload a 33% stake in BPlant to KLK.

    Dataprep Holdings Bhd and five of its directors, including the chairman and the managing director, were publicly reprimanded by Bursa Malaysia Securities for breaches of listing requirements. The directors were also fined RM100,000 each for their reply to an unusual market activity query.

    MyEG Services Bhd confirmed that it had stopped accepting applications temporarily as it finalizes the terms of an immigration-related services concession with Putrajaya.

    YTL Hospitality REIT signed three supplemental lease agreements for rental revisions and proposed refurbishment of its AC Hotels in Kuala Lumpur, Penang, and Kuantan. The lessees agreed to an increase in annual rental, while YTL REIT will cover the costs of refurbishment.

    Land & General Bhd (L&G) reassured stakeholders that liquidity issues faced by its joint venture partner, Country Garden, would not negatively impact their township development in Semenyih.

    Former Telekom Malaysia Bhd CEO Datuk Dr Md Khir Abdul Rahman has been appointed as an independent and non-executive director of Reneuco Bhd, a sustainable energy and utilities provider.

    Epicon Bhd’s wholly-owned subsidiary, Transnasional Builder Sdn Bhd, secured a RM34.5 million contract for structural works for a residential apartment in Kuala Lumpur.

    Scientex Packaging (Ayer Keroh) Bhd, formerly known as Daibochi Bhd, reported a significant decline in net profit due to higher goodwill impairment in Myanmar and lower demand from the export market.

    – Cypark Resources Bhd, KLSE Stock Exchange
    – Mercury Securities Group Bhd, KLSE Stock Exchange
    – Kuala Lumpur Kepong Bhd, KLSE Stock Exchange
    – Dataprep Holdings Bhd, Bursa Malaysia Securities
    – MyEG Services Bhd, Bursa Malaysia Securities
    – YTL Hospitality REIT, KLSE Stock Exchange
    – Land & General Bhd, KLSE Stock Exchange
    – Reneuco Bhd, KLSE Stock Exchange
    – Epicon Bhd, KLSE Stock Exchange
    – Scientex Packaging (Ayer Keroh) Bhd, KLSE Stock Exchange