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The Dow Rises 64 Points After Jobs Rally Fizzles
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CORPORATE NEWS
• Malaysia Airport Holdings Bhd (MAHB) has confirmed that it has received a letter from solicitors representing AirAsia Bhd and AirAsia X Bhd in relation to a RM479.78 million suit.
• A joint venture between Vizione Holdings Bhd and Vertice Bhd has been awarded an RM815 million contract by Consortium Zenith to undertake construction works for Package 2 of the Penang Mega Infrastructure project.
• AmanahRaya REIT CEO Zalila Mohd Toon, 58, has resigned just after three months on the job. She took over on Nov 1, 2018, after the post was left vacant for eight months after Noorbaizura Hermeyney quit the REIT in March 2018.
• Bina Darulaman Bhd has appointed Faris Najhan Hashim as the group’s CEO.
• RHB Banking Group has appointed Danny Quah Boon Leng as the country head and CEO of RHB Bank Singapore, and Thoo Kim Seng as CEO of RHB Indochina Bank, Cambodia.
• Prestariang Bhd named its senior independent non-executive director Datuk Maznah Abdul Jalil as the group’s new non-executive chairman, replacing Datuk Mohamed Yunus Ramli Abbas, 70, who has resigned from the group, “as he intends to focus on his long overdue time for himself and family”.
• Eduspec Holdings Bhd has proposed to undertake a capital reduction to cancel RM107.31 million of its paid-up share capital to offset accumulated losses. It hopes to transform its financial position from an unaudited accumulated loss of RM54.44 million as at Sept 30, 2018, to RM62.83 million in retained earnings.
• Berjaya Foods Bhd (BFood) has set aside more than 50% of its RM100 million capex for the fiscal year ended April 2019 for Starbucks. With 20%-30% of the capex remaining, the group indicated Starbucks would continue to be the focus of its expansion as the outlets had delivered stable same-store sales growth of about 6% to 8%.
• Heitech Padu Bhd has bagged a RM14.4 million, two-year contract from the Inland Revenue Board to renew the software licence for the board’s mainframe systems. The contract is effective tomorrow, with group adding it will have positive effects for its future earnings.
• CIMB Group Holdings Bhd appointed Time dotCom Bhd chief executive officer Afzal Abdul Rahim as its independent and non-executive director, effective today.
• Fraser & Neave Holdings Bhd (F&N) reported a 15% increase in its net profit to RM122.86 million for the first quarter ended Dec 31, 2018, from RM106.83 million in the same quarter a year ago, supported by a higher contribution from its operations in Malaysia and Thailand.
• Dolomite Corp Bhd has appointed Datuk Mangsor Ismail, 68, as its independent and non-executive chairman. He is currently a director of the group, replacing Tan Sri Mohd Jamil Johari, 71, who has stepped down from the group's board of directors "in the interest of board rejuvenation", the property development and construction group said in a filing.
• Gunung Resources Sdn Bhd, a wholly-owned unit of Gunung Capital Bhd, has won a 12-month project management contract worth RM9.45 million. The contract was awarded by Conso Hydro RE Sdn Bhd a 50.1% indirectly owned subsidiary of the group. It is for the procurement, construction and commissioning of a 2MW installed capacity small hydropower plant in Gopeng, Perak with the option to operate and maintain the hydropower plant after completion.
• Crest Builder Holdings Bhd has bagged a 27-month contract worth RM99.6 million to construct a 26-storey hotel at Jalan P Ramlee, Kuala Lumpur. The contract was awarded by Techvance Properties Management Sdn Bhd.
