CORP BRIEF: Bursa, Econpile, Ajinomoto and Ivory Properties

Bursa announces 4 inclusions into F4GBM Index

AIRASIA Group Bhd, Eco World Development Group Bhd, Hibiscus Petroleum Bhd, KLCC Property Holdings Bhd and KLCC Real Estate Investment Trust-stapled securities have been added to the constituents of the FTSE- 4Good Bursa Malaysia (F4GBM) Index. In a statement yesterday, Bursa Malaysia said the F4GBM Index measured the performance of public-listed companies demonstrating strong environmental, social and governance practices and was launched in December 2014 with a total of 24 constituents. It said besides the four additions, there were two deletions from the index constituents namely Bumi Armada Bhd and Sunway Construction Group Bhd, bringing the total number of constituents to 75 as at the latest review period of December 2020. — Bernama

Econpile bags RM347.6m contract from MCC

ECONPILE Holdings Bhd’s wholly-owned subsidiary, Econpile (M) Sdn Bhd, has been awarded a RM347.6 million contract by MCC International Inc Ltd on Dec 14. In a filing to Bursa yesterday, the company said the contract included subcontract piling and substructure works for an integrated entertainment complex in Phnom Penh, Cambodia, and the works would be completed within 30 months from the date of commencement. The project will contribute positively to Econpile’s revenue and earnings from the financial year ending June 30, 2021 onwards.

Ajinomoto gets RM100m loan to build new factory

AJINOMOTO Malaysia Bhd has accepted a sustainability-linked Islamic financing facility of up to RM100 million from MUFG Bank Malaysia Bhd. The company said the five-year financing facility will assist Ajinomoto to finance the construction of its new plant in Bandar Baru Enstek, Negri Sembilan. It also includes the cost for mechanical and electrical engineering works, purchase and installation of plant, machinery and equipment. The programme is set based on the sustainability- linked loan principles, which are issued by the Asia Pacific Loan Market Association and the Loan Market Association, and in line with the Shariah financing principles.

Ivory Properties acquires hotel, land for RM75m

IVORY Properties Group Bhd has acquired a property and land through a sales and purchase agreement with Copthorne Orchid Penang Sdn Bhd for RM75 million. The acquisition consists of one parcel of freehold land erected with a hotel which is Copthorne Orchid Hotel & Resort Penang, located along Tanjung Bungah Beach, said the company in a filing to Bursa on Monday. The hotel sits on a parcel of freehold land measuring at 2.5 acres (1.01ha), and has ceased operations. The company noted that it is buying the property on behalf of its wholly-owned subsidiary, Ivory Utilities Sdn Bhd.