Trading ideas: PGF, Hong Seng, ILB, Bintai Kinden, PTT, BIG, Synergy, Econpile, Synergy, Ewein, Scomi Energy, Pavilion REIT, Zhulian


KUALA LUMPUR: Here is a recap of the announcements that made headlines in Bursa Malaysia.

PGF Capital Bhd has entered a deal to serve as the Malaysian distributor of a Chinese company's mineral wool sandwich panels, which are suitable for wall facades in data centres.

Hong Seng Consolidated Bhd’s wholly owned subsidiary HS Green Valley Sdn Bhd has entered into an agreement to acquire all of Hong Seng Frontier Sdn Bhd for RM45.3mn from Velocity Capital Partner Bhd.

Rooftop solar power system provider ILB Group Bhd is acquiring Armani Sinar Sdn Bhd, a solar energy company, and its assets for RM98.0mn, cash.

Bintai Kinden Corp Bhd, through its subsidiary Kejuruteraan Bintai Kindenko Sdn Bhd, has clinched two contracts totalling RM25.7mn.

PTT Synergy Group Bhd is acquiring two parcels of land with semi-detached factories in Selangor from Sime Darby Property Bhd for RM22.0mn, cash.

BIG Industries Bhd has announced the cessation of its concrete business division, in a bid to mitigate losses.

Synergy House Bhd received an unusual market activity query from Bursa Malaysia on Wednesday after its shares suffered their biggest daily fall since being listed more than a year ago.

Econpile Holdings Bhd said Retirement Fund Inc has ceased to be a substantial shareholder in the piling and foundation specialist.

Penang-based property developer Ewein Bhd’s shares will be traded under its new name, Skygate Solutions Bhd, effective tomorrow.

Scomi Energy Services Bhd has applied for a six-month extension until January 31, 2025, to submit its regularisation plan to exit Practice Note 17 status.

Pavilion Real Estate Investment Trust’s net property income increased 18.8% YoY in the 2QFY24 to RM120.3mn against RM101.0mn a year ago.

Zhulian Corp Bhd’s net profit for the 2QFY24 dipped to RM6.6mn from RM9.5mn in the previous corresponding period and expects its current financial year to remain challenging amid inflationary pressure.

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