KUALA LUMPUR (Jan 8): Here is a brief recap of some corporate announcements that made news on Monday: Perak Transit Bhd, Minetech Resources Bhd, Kerjaya Prospek Group Bhd, Axiata Group Bhd, Affin Bank Bhd, Straits Energy Resources Bhd, Johor Plantations Group Bhd, Capital A Bhd, Genting Bhd.

Perak Transit Bhd’s shares rose as much as 7.83% or nine sen to RM1.24 after it proposed to undertake a bonus issue of up to 433.64 million new shares on the basis of one bonus share for every two existing ordinary shares to reward shareholders. Perak Transit was among the top gainers by value on Bursa Malaysia on Monday. The stock opened three sen or 2.61% higher at RM1.18 in morning trade, against its closing price of RM1.15 last Friday. The counter further rose to RM1.24, before paring some gains to RM1.20 at 4pm.Its trading volume stood at 2.48 million so far, about three times higher than its 200-day average trading volume of 828,738 shares. — Perak Transit up 7.8% on one-for-two bonus issue plan

Abang Abdillah Izzarim Abang Abdul Rahman Zohari, the newly appointed executive chairman as well as the largest shareholder of Minetech Resources Bhd, has upped his stake in the company to 16.34% from 15.58% previously. The son of Sarawak Premier Tan Sri Abang Johari Tun Openg acquired the additional 0.758% stake comprising 12 million shares via a direct business transaction last Friday, at 17 sen per share or a total of RM2.04 million. Minetech executive director of advisory Choy Sen @ Chin Kim Sang, who is also the founder of the company, is the second largest shareholder with a 9.95% stake, followed by executive director of business development and operations Chin Leong Choy with a 5.28% stake. — Minetech chairman Abang Abdillah Izzarim ups stake to 16.34%

Kerjaya Prospek Group Bhd has secured two contracts totalling RM95.1 million from two indirect subsidiaries of Eastern & Oriental Bhd (E&O) for construction projects in Penang. Kerjaya Prospek said that its wholly-owned unit, Permatang Bakti Sdn Bhd, had received a letter of award from Tanjung Pinang Development Sdn Bhd. The contract, valued at RM69.23 million, involves undertaking superstructure works for phase two of the Gurney Marine Bridge, part of the proposed Seri Tanjung Pinang Development (STP2). Construction is scheduled to commence on Jan 22, with completion expected within 24 months. — Kerjaya Prospek bags two contracts worth RM95.1 million for construction projects in Penang

Two more digital banks have received regulatory approval to begin commercial operations, namely Axiata Group Bhd and RHB Bank Bhd-linked Boost Bank, as well as AEON Bank linked to AEON Credit Service (M) Bhd. Boost Bank Bhd, the 40:60 digital bank venture by RHB and Boost Holdings Sdn Bhd, has received the Ministry of Finance's (MOF) agreement for the issuance of a physical digital bank licence, which takes effect from Jan 15. This follows a letter from Bank Negara Malaysia on Monday notifying that the central bank is satisfied with the operational readiness review of Boost Bank, formerly known as Boost Bhd, the companies said. — Boost Bank, AEON Bank get nod to commence digital bank operations in Malaysia

The Sarawak State Financial Secretary is in talks with the Armed Forces Fund Board (LTAT) to potentially buy more shares in Affin Bank Bhd. According to Affin Bank, the state government held a 4.8% stake in the bank as at Dec 29, 2023. Shares in Affin Bank jumped to a nine-year high of RM2.38 at Monday’s closing bell — up 20 sen or 9.17% from last Friday’s closing price of RM2.18 — giving it a market capitalisation of RM5.58 billion. — Sarawak in talks with LTAT to buy more shares in Affin Bank, confirms The Edge report

Straits Energy Resources Bhd has bagged a contract to upgrade Hospital Canselor Tuanku Muhriz, Pusat Perubatan Univerisiti Kebangsaan Malaysia for RM40.73 million. Straits Energy said its indirect 70%-owned subsidiary Straits CommNet Solutions Sdn Bhd had accepted the letter of award from Puncabahan Sdn Bhd for the job, which involves adding more space to the hospital, besides upgrading its emergency medical department and carrying out electrical and information and communications technology works, and to provide a smart building system for the hospital. Puncabahan is the main contractor that has been awarded the project by the Public Works Department. — Straits Energy Resources secures RM41 mil hospital upgrading job

Johor Plantations Group Bhd has filed its prospectus exposure for its initial public offering (IPO) with the Securities Commission Malaysia (SC), with Johor Corp, through Kulim (M) Bhd, seeking to retain 65% stake post-listing. This confirmed The Edge report in November that JCorp is going ahead with its plantation assets IPO under Kulim despite weaker crude palm oil price environment, and letting go of a stake of about 30% to 40% in Johor Plantations. The prospectus exposure on Monday revealed that the IPO involves up to 875 million shares in Johor Plantations, comprising an offer for sale of up to 411 million existing shares and public issue of up to 464 million new shares. — JCorp files prospectus exposure for Johor Plantations IPO, confirms The Edge report

Capital A Bhd chief executive officer Tan Sri Tony Fernandes will be meeting Thai Prime Minister Srettha Thavisin on Jan 10 to address foreign ownership limits for airlines of no more than 49% in Southeast Asia’s second largest economy. The deal would involve Capital A divesting all of its short haul airline businesses to AAX, including Thai AirAsia Co Ltd (TAA), which is held under Capital A’s 43%-owned Thai-listed Asia Aviation PCL. AAX, meanwhile, owns 49% of Thai AirAsia X Co Ltd, and a consolidation with TAA may result in changes to the eventual foreign shareholdings in these two Thai companies. Fernandes said Capital A’s board of directors has approved the merger but negotiation is still ongoing, with both parties aiming to ink definitive agreements over the next few weeks. — AirAsia-AAX merger to involve Thai ops, Tony to meet Thai PM on Wednesday to address airline foreign ownership cap

Genting Bhd was among the top gainers in early trade on Monday as investors cheered the potential upside from cheaper exposure to its 52.63%-owned Genting Singapore Ltd, which has recovered to above pre-Covid-19 levels. Additionally, positive sentiments arose from the secondary exposure to Genting Malaysia Bhd's Resorts World New York City Casino (RWNYC), which could win a down-state commercial casino licence in New York City, according to analysts. — Genting, Genting Malaysia among top gainers in early trade