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By Kuala Lumpur Newsroom
Nikkei Markets
KUALA LUMPUR (Dec 27) — Here’s a roundup of latest news from Malaysia so far on Wednesday:
*Malaysia’s REDtone International To Provide 2G, 3G Services Under State Project
REDtone International, a Malaysian telecommunication firm, said Wednesday its unit has been appointed by the government to provide 2G and 3G public cellular services at a cost of up to 250.76 million ringgit ($61.48 million) under a state project.
*ASIA MARKETS: Nikkei Asia300 Index Gains As Energy Stocks Rally
Asian stocks outside of Japan advanced Wednesday, led by energy companies as U.S. crude oil prices rallied to their highest level since June 2015.
*Malaysia’s Selangor Properties 4Q Net Profit Falls Over 64% On Year
Selangor Properties, a Malaysia-based property developer, said Wednesday its fourth quarter net profit fell 64.38% on year, mainly due to fair value loss incurred in the property investment segment.
*Malaysia’s Muhibbah Engineering (M) Gets Construction Contract Worth MYR70 Mln
Malaysian construction firm Muhibbah Engineering (M) said Wednesday it has received a contract worth 70 million ringgit ($17.19 million) to build reinforced concrete jetty and platform for a project in Johor.
*IBO Technology, Ling Yui Holdings Rise In Gray Market Before Hong Kong Debut
Shares of IBO Technology Company and sub-contractor Ling Yui Holdings rose at least 20% each at a gray market venue in Hong Kong ahead of their trading debut on the city’s main board on Thursday.
*Malaysia’s HSS Engineers Declares MYR0.0079/Share Interim Dividend, Payable Jan 23
Malaysian engineering firm HSS Engineers said Wednesday it plans to pay an interim dividend of 0.0079 ringgit per share for the financial year ending December 31, 2017.
*ASIA MARKETS: Malaysia Shares Hit Three-Month High, Singapore Equities Edge Higher
Malaysia shares rose to a three-month high on Wednesday, helped by year-end buying. Singapore equities rebounded from more-than-a-month low.
*Singapore’s Allied Technologies’ Chief Executive Officer Resigns
Allied Technologies, a Singapore-based precision stamped metal parts manufacturer, said Wednesday its Chief Executive Officer and Group Managing Director Hsu Ching Yuh has resigned with effect from Dec. 29, 2017.
*Chemical Company Of Malaysia Names Nik Fazila Mohamed Shihabuddin As MD
Industrial and specialty chemicals maker Chemical Company Of Malaysia said Wednesday it has appointed Nik Fazila Mohamed Shihabuddin as its managing director effective Dec. 28.
*Sinopec Engineering Gets Engineering, Procurement And Construction Job In Iran
Sinopec Engineering (Group) Co., a Hong Kong-listed construction company, said Wednesday it has entered into an engineering, procurement and construction contract with National Iranian Oil Engineering and Construction Company in relation to phase II of Abadan refinery upgrading project.
*ASIA MARKETS: Mainland Developers Help Hong Kong Shares Eke Out Gains
Hong Kong shares ended slightly higher after trading in a narrow range on Wednesday, helped by advances in mainland property developers and energy producers.
*Malaysia’s Hua Yang To Acquire Kajang Heights Development For MYR70 Mln
Malaysian real estate firm Hua Yang said Wednesday it plans to acquire Kajang Heights Development that owns four plots of land in Selangor state for 70 million ringgit ($17.14 million).
*BaWang International Co-Founder Applies To Liquidate Holding Company
Hair-care product maker BaWang International Group Holding’s co-founder Wan Yuhua on Wednesday said she has filed an application at Hong Kong’s high court for the liquidation of BaWang’s holding company Fortune Station.
*Chua Hwee Song To Replace Singapore Press Holdings’ CFO Anthony Mallek
Singapore Press Holdings, the city-state’s dominant newspaper publisher, said Wednesday it has named Chua Hwee Song as its new chief financial officer, with effect from Apr. 1, 2018.
*Singapore’s ZACD Group Expects To Raise Up To $21.1 Million In Hong Kong IPO
Singapore-headquartered ZACD Group said it expects to raise up to HK$165 million ($21.1 million) in an initial public offering on Hong Kong’s growth enterprise market board for smaller companies.
*MARKET BUZZ: Hong Kong’s HSI Little Changed As Tech Shares Struggle; BYD Rallies
Hang Seng index almost flat at 29,597.66, as decline in Apple suppliers offset advance in energy names.
*China Hanking Holdings Expects To Swing To Net Profit In 2017
China Hanking Holdings, a Hong Kong-listed mining company, said Wednesday it expects to swing to net profit this year, helped by substantial increase in average selling price of iron ore concentrates.
*China’s Geely Holding Agrees To Buy Stake In Swedish Truck Maker Volvo
China’s Zhejiang Geely Holding Group said Wednesday it has agreed to acquire a 8.2% stake in Swedish auto maker AB Volvo from activist investor Cevian Capital for an undisclosed amount.
*Mainland Bourses Behind Asia’s Lead In Global IPO Boom – Nikkei Asian Review
New listings made a strong comeback in a year where the global equity bull run showed no signs of abating. Asia continued to lead in both volume and total funds raised as the region’s two major economies shifted their reliance on banks to capital markets for their financing needs.
*ASIA MARKETS: Hong Kong Shares Flat After Choppy Morning Session
Hong Kong shares were little changed in thin trading on Wednesday, as investors returning from a long holiday weekend appeared to stay on the sidelines before the year end.
*Guangdong Yueyun Transportation Inks Deal To Expand Presence In Maoming City
Guangdong Yueyun Transportation Company said Wednesday it has entered into a memorandum of understanding with stated-owned Maoming Transportation Construction Investment Group Co.
*MARKET BUZZ: Malaysia’s Perak Transit Up On Government Grant Approval
Perak Transit up 3.6% at one week high of MYR0.29, after securing in-principle approval from the government for a grant of up to MYR8.01 million to facilitate construction of the Terminal Kampar.
*China Railway Construction Consortium Wins Bid For Highway Project
State-owned railway contractor China Railway Construction consortium has won bid for highway project of Zhangye-Wenchuan National Expressway (Zhangye-Biandukou section) with estimated total investment of CNY5.87 billion ($895.57 million).
*INTERVIEW: Malaysia’s Berjaya Food Aims For About 10% FY Revenue Growth – CEO
Malaysian restaurant chain operator Berjaya Food expects revenue to grow about 10% in the current fiscal year helped by new Starbucks outlets and better sales at Kenny Rogers Roasters restaurants, its chief executive said.
*MARKET BUZZ: Malaysia’s QL Resources Gains, Affin Hwang Ups TP On Prospects
Affin Hwang Investment Bank raises QL Resources target price to MYR5.00 from MYR4.31 on bright prospects, keeps Buy call.
*MARKET BUZZ: Energy Shares Help Hong Kong’s HSI Edge Higher; Apple Suppliers Fall
Hang Seng advances 0.1% to 29,606.52, as overnight rally in crude prices lifts energy producers. PetroChina adds 1.3%, CNOOC climbs 2% and China Petroleum & Chemical (Sinopec) rises 0.8% after benchmark US crude rises to highest in two-and-a-half years, closing just shy of $60 level.
*Meitu Chairman Raises Stake In Company
Chinese photo-editing software maker Meitu said its chairman bought 3.5 million shares in the company through Baolink Capital last week.
*China Energy Engineering Enters Highway Partnership Deal
Power plant builder China Energy Engineering Corp. said its unit will partner with Shenzhen Pingan Decheng Investment and China Resources SZITIC Trust to form a fund to invest in three highway projects in China’s eastern Shandong province.
*AviChina Industry Unit To Raise CNY2.4 Billion Through Convertible Bonds
AviChina Industry & Technology said its unit China Avionics Systems plans to issue convertible corporate bonds onshore to raise 2.4 billion yuan ($366.7 million).
*MARKET BUZZ: Malaysia’s KLCI Edges Higher; Hong Leong Tips 1755-1765 Range
Malaysia’s benchmark KLCI edges higher, now up 0.1 % at 1762.28, tracking gains in most key Asian markets. Nikkei 225 adds 0.1%, while Shanghai Composite Index up 0.8%.
*Hong Kong Mining Investment Company CST Group Requests Trading Halt
Hong Kong mining investment company CST Group requested a trading halt Wednesday pending an announcement about a very substantial acquisition, according to an exchange filing.
*Singapore’s k1 Ventures Places Unit FSHCO Holdings Under Voluntary Liquidation
Singapore’s k1 Ventures has placed its wholly owned subsidiary FSHCO Holdings under members’ voluntary liquidation, according to an exchange filing Wednesday.
*MARKET BUZZ: Malaysia KLCI Likely Flat Amid Light Trading; 1743-1765 Band Tipped
Malaysia’s KLCI likely to open flat in tandem with thin trading activities ahead of year-end holiday; index ended nearly flat at 1759.99 yesterday.
– By Kuala Lumpur Newsroom; kleditorial@nikkeinewsrise.com; +60320267363
– Edited by Ahana Sen Gupta
– Send Feedback to feedback@nikkeinewsrise.com
– Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.
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