Corporate results: Gadang Holdings, M3 Technologies, Gas Malaysia, TransOcean, KPS and OPUS Consultants
Gadang bags RM38.52m contract from TRX City
Gadang Holdings Bhd’s wholly-owned subsidiary, Gadang Engineering (M) Sdn Bhd, has accepted a contract worth RM38.52 million from TRX City Sdn Bhd to build a bridge with passage for vehicles, walkways for pedestrians and a closed passage for utility installations on the ground floor. The project shall commence on July 1, 2019, and be completed by third quarter of 2020, the company noted in an exchange filing yesterday..
 
M3 Tech’s Pakistan unit loans money to AKDSPL
M3 Technologies (Asia) Bhd’s (M3 Tech) 60%-owned subsidiary, M3 Technologies Pakistan (Private) Ltd, has invested 150 million Pakistani rupees with Aqeel Karim Dhedhi Securities (Private) Ltd (AKDSPL) for a three months period. In an exchange filing yesterday, M3Tech noted the investment will come internally generated funds. It made the move as AKDSPL offered commercially viable rates (i.e. at least 14%). 
 
Gas Malaysia proposes 4.50 sen dividend for FY18
Gas Malaysia Bhd has proposed a single-tier final dividend of 4.50 sen per ordinary share in respect of the financial year ended Dec 31, 2018 (FY18), subject to shareholders’ approval at the forthcoming 28th AGM to be held on May 16, 2019.
The dividend is targeted to be paid on July 3, 2019, it exchange filing yesterday stated.
 
TransOcean deal with Swift Haulage lapses
TransOcean Holdings Bhd move to take over Swift Haulage Sdn Bhd has collapsed as both parties were unable to come to an agreement on the terms and conditions for the proposed acquisition. The RM750 million worth reverse takeover will not have a financial impact on TransOcean, its exchange filing yesterday stated.
 
KPS unit proposes selective capital reduction of Century Bond
Kumpulan Perangsang Selangor Bhd’s (KPS) wholly-owned subsidiary, Perangsang Packaging Sdn Bhd (PPSB), has proposed the board of Century Bond Bhd (CBB) undertake a selective capital reduction (SCR) and repayment exercise at RM1.75 per each share. As at Apr 1, 2019, PPSB holds 118.8 million CBB shares, representing 98.98% of the issued share capital of the group. Pursuant to the proposed SCR, the entitled minority shareholders will receive a total capital repayment of RM2.15 million.
 
OPUS Consultants appointed to Sarawak’s RM11b PMC project
The Sarawak state government has named UEM Edgenta Bhd (UEM Edgenta)’s unit, OPUS Consultants, as the project management consultant for its RM11 billion state’s coastal road network and second trunk roads project, which is estimated to be completed over the next eight years. UEM Edgenta, in a release yesterday, stated Opus Consultants would be working together with the state’s Public Works Department and provide overall project management and technical expertise, on top of the first work package for the project valued at RM50 million recently. Among the key deliverables of the project work scope for OPUS Consultants includes preliminary and detailed designs of 20 work packages ranging from the development and upgrading works of new roads and bridges, including four iconic cable-stayed bridges and pavement rehabilitation works, as well as the construction of 10 new bridges for the coastal road network project. The coastal road network and second trunk roads project is set to provide the state’s coastal area with better access and seamless connectivity between the state’s towns.