by TMR / pic by TMR FILE
TAFI announces bonus, warrants issue
TAFI Industries Bhd has proposed to undertake a bonus issue of 252.95 million new shares on the basis of two bonus shares for every one existing share held on an entitlement date to be determined later. It also proposes a bonus issue of up to 63.24 million warrants on the basis of one warrant for every two existing shares held on the same entitlement date as the proposed bonus issue of shares. In an exchange filing yesterday, TAFI stated the proposed bonus issue is to reward the company’s shareholders and improve the trading liquidity and marketability of its shares. As of Nov 19, the total issued share capital of TAFI comprising of 126.48 million shares, including 2.54 million shares held as treasury shares. Upon completion, the total issued share capital of TAFI would comprise 379.43 million shares, including 7.62 million from treasury shares. The proposals are expected to be completed by the first quarter of the calendar year 2022.
Ireka bags mixed development project in Terengganu worth RM468m
Ireka Corp Bhd’s subsidiary, Ireka Development (Terengganu) Sdn Bhd (IDTSB), has bagged a project from the Terengganu State Government to develop affordable and mixed housing development in the state worth RM468 million. In a filing with Bursa Malaysia today, Ireka stated both parties would be entering into arrangements for the proposed mixed development and related works on 80.937 hectares of government land in Bandar Baru Kertih Jaya, Kemaman. “Both parties would also enter into an agreement to a proposed hybrid development of 100 units of an affordable housing type A and six units single-storey shop lots and related works on 4.674 hectares of government land in Kampung Semayor, Kemaman,” it said. It said the project would contribute RM34.72 million in development funding to the state government.
IDTSB is required to sell a minimum of 50% of the shop lot units to Bumiputera, provide a price reduction of five per cent from the sale price of the shop lots to Bumiputera and comply with views from all technical departments in relation to the land development. — Bernama
Cypark inks mou with Huawei Malaysia for long-term cooperation on RE projects
Cypark Resources Bhd inked a memorandum of understanding (MoU) with Huawei Technologies (Malaysia) Sdn Bhd (Huawei Malaysia) on Dec 3, 2021 for long-term cooperation on a total of 500MW renewable energy (RE) projects in and outside of Malaysia on an exclusive basis. Cypark said under the deal, Huawei would act as the technology enabler and would provide the technical and after-sales support for all products and solutions. “Cypark would be the user and installer of the said products and solutions,” it said in a stock exchange filing today. The environmental engineering solutions provider said the MoU would be effective for two years from Dec 3, 2021, and would not have any financial impact on the company. — Bernama
CIMB group completes sale of 25 pct shareholding in EGS-CIMB securities
CIMB Group Holdings Bhd’s wholly-owned subsidiary CIMB Group Sdn Bhd (CIMBG) has completed the sale of 24.99 per cent and 25 per cent of its shareholding in CGS-CIMB Securities International Pte Ltd (CSI) and CGS-CIMB Holdings Sdn Bhd (CCH), respectively to China Galaxy International Financial Holdings Ltd (CGI).
In a filing with Bursa Malaysia today, it said the completion is upon receiving relevant regulatory approvals. CSI and CCH are the holding companies of the group’s stockbroking joint venture (JV) with China Galaxy Securities (CGS), known as CGS-CIMB Securities. “With the completion of the sale, CIMB Group’s interest in CSI and CCH will reduce from 50 per cent and 50 per cent to 25.01 per cent and 25 per cent respectively and CGI’s interest will correspondingly increase to 74.99 per cent and 75 per cent,” it said. In 2018, CIMB Group entered into a 50:50 JV with CGS to operate a regional stockbroking business in Asia. The JV had included built-in mechanisms to alter the shareholdings of the parties via call or put options. The call option to buy the additional stake was exercised by CGI and resulted in this change in shareholding. The existing business collaboration between CIMB Group and CGS-CIMB Securities remains and will be operating as usual.
Both parties will continue to harness the benefits of this synergistic partnership to deliver seamless cash equities and stockbroking platform to its clients regionally. The partnership is in line with CIMB Group’s strategic direction to collaborate with the right partners to complement its service offerings and products, it added. — Bernama