CORP BRIEF: Reservoir Link, Hong Seng, Parlo and CIMB

Reservoir Link proposes bonus issue of warrants, ESOS

RESERVOIR Link Energy Bhd has proposed to undertake a bonus issue of warrants and employees’ share option scheme (ESOS). The proposed bonus issue entails an issuance of up to 71.25 million warrants on the basis of one warrant for every four existing Reservoir Link shares held on an entitlement date which will be determined later, it noted in a filing to the stock exchange yesterday. This bonus issue is not expected to raise immediate funds for the group as the warrants will be issued at no cost to the entitled shareholders. The number of new Reservoir Link shares allotted under the ESOS will not exceed 30% of the total issued shares. Upon the full exercise of the proposed bonus issue of warrants and ESOS, Reservoir Link’s enlarged share capital will increase to 441.8 million shares from 285 million shares currently.

Hong Seng plans share split to boost trading liquidity

HONG Seng Consolidated Bhd has proposed to undertake a 2-for-1 share split to increase affordability and trading liquidity. The 2-for-1 share split will involve a subdivision of everyone existing share into two subdivided shares. In a filing to Bursa Malaysia yesterday, Hong Seng said its total number of shares in issue as at Jan 19, 2021, was 519.55 million shares. The share split will enlarge Hong Seng’s total number of shares in issue to at least 1.04 billion shares, it added. Assuming that all the out-standing employees’ share option scheme options, warrants and irredeemable convertible preference shares are fully exercised, the enlarged number of issued shares will then swell to 2.81 billion shares.

Parlo’s Myanmar migrant worker services unaffected

PARLO Bhd, which provides a range of migrant workforce-related services to employment agencies and foreign migrants, said their service contract to Myanmar workers who are employed in Malaysia and globally, is not affected by the takeover of the government of Myanmar by the military. In a statement yesterday, the company assured migrant workers who are working outside of Myanmar and those who plan to pursue an overseas job placement will not be affected by the current situation that is happening in the country.

CIMB completes CARI sale

CIMB Group Holdings Bhd completed the sale of its 100% equity interest in CIMB South-East Asia Research Sdn Bhd to the new owner of CIMB Asean Research Institute (CARI), Tan Sri Dr Mohd Munir Abdul Majid. In a statement yesterday, CIMB said CARI was set up in 2011 to support the Asean economic integration agenda by way of policy research and policy advocacy. CARI intends to continue with its research and advocacy works, and provide policy recommendations aimed at narrowing policy gaps in Asean. The sale amount was undisclosed.