CORP BRIEF: Rakuten, Taliworks, Inta Bina and Lotte Chemical Titan


Rakuten initiates ‘Buy’ call on Aurelius Technologies

RAKUTEN Trade Sdn Bhd has initiated a ‘Buy’ call on Aurelius Technologies Bhd, a debutant on Bursa Malaysia’s ACE Market today, with a target price of RM1.75 per share. Aurelius Technologies offers a one-stop solution for electronic manufacturing services and has a 28-year track record in the electronics industry. The Kulim-based company has established a solid business relationship with its clientele across three continents, namely Asia Pacific, America and Europe, Rakuten said. The brokerage said the call is premised on capacity expansion, growing order in semiconductor components and exponential earnings growth.

Taliworks bags RM602.4m Air Selangor’s project

TALIWORKS Corp Bhd has received a contract from Pengurusan Air Selangor Sdn Bhd (Air Selangor) worth RM602.43 million for the proposed development of Sg Rasau water treatment plant and water supply scheme (Phase 1), Selangor Package 2. Package 2 entailed the design and build of proposed treated water pumping station, treated water pumping mains to the existing Bukit Lipat Kajang reservoirs, distribution and associated works, it said in a ling to Bursa Malaysia. — Bernama

Inta Bina wins Gamuda’s construction contact

INTA Bina Group Bhd’s unit, Inta Bina Sdn Bhd, has secured a contract worth RM67.73 million from Gamuda Land (T12) Sdn Bhd to develop Gamuda Cove’s Phase 1C-1 comprising 203 units of terraced homes. In a ling to Bursa Malaysia yesterday, the company said the construction period for the project is 18 months, beginning Dec 15, 2021. The contract will not have any effect on the share capital and substantial shareholders’ shareholdings of Inta Bina, it said. — Bernama

Lotte Chemical Titan gets shareholders’ nod for RM7b project

LOTTE Chemical Titan Holding Bhd (LCT) yesterday obtained its shareholders’ approval to award engineering, procurement and construction works worth US$1.65 billion (RM6.95 billion) to sister company Lotte Engineering and Construction Co Ltd (LEC). LEC is 43.8% owned by LCT’s major shareholder, Lotte Chemical Corp of South Korea. The relatedparty transaction involves works for the downstream plants and complex facilities of the Lotte Chemical Indonesia New Ethylene project, which is a joint venture between LCT (51% owned) and its South Korean parent (49%). — Bernama