KUALA LUMPUR (March 6): Here is a brief recap of some corporate announcements that made the news on Tuesday.  

Australia and New Zealand Banking Group Ltd (ANZ) is putting up 297.72 million shares in AMMB Holdings Bhd for sale, at an indicative price of RM3.80 to RM3.85 per share, according to the term sighted by The Edge. The offer size ranges between RM1.13 billion and RM1.15 billion representing an 8.3% to 9.5% discount to AMMB’s closing price of RM4.20 on Tuesday. The sale would reduce ANZ’s shareholding in AMMB to 12.7% from 21.7%. — ANZ puts up 9% AMMB stake for sale in accelerated bookbuilding

Iskandar Waterfront Holdings Sdn Bhd (IWH) and PLS Plantations Bhd, two entities linked to tycoon Tan Sri Lim Kang Ho are in talks with a China state-owned company to develop an industrial park and innovation hub in Johor. The two companies inked a memorandum of understanding (MOU) with Shenzhen provincial government-owned Shenzhen Shenyue Joint Investment Co Ltd (SSJI) on Tuesday, for the proposed development of a 1,000-acre Johor-Shenzhen Industrial Park in Ulu Sedili, together with a 50-acre Johor-Shenzhen Innovation Development Hub in Johor Bahru, according to a statement from IWH. — IWH, PLS Plantations in talks with China state-owned firm to develop industrial park, innovation hub in Johor 

Solarvest Energy Sdn Bhd, a subsidiary of clean energy expert Solarvest Holdings Bhd, has been appointed by Gentari Renewables Sdn Bhd to install solar power systems at over 300 Petronas stations across Malaysia. The project aimed to commence in April 2024 will see the installation of more than 5.4-megawatt peak (MWp) of solar capacity across more than 300 Petronas stations. The solar power systems are expected to be operational by 2027. Once energised, it is estimated to offset around 5,035 tonnes of carbon dioxide emissions per year. — Solarvest unit appointed to install solar power systems at over 300 Petronas stations 

Crest Builder Holdings Bhd's order book has reached a record high of RM1.8 billion after the group bagged a commercial development in Kuala Lumpur from Sunway Velocity Three Sdn Bhd for a total contract value of RM448.5 million. The construction will consist of 1,604 units of serviced apartments in two 60-storey blocks. — Crest Builder’s order book rises to record RM1.8 bil with new contract worth RM448 mil

Paramount Corp Bhd aims to sell RM1.4 billion worth of properties in the financial year ending Dec 31, 2024 (FY2024), as the company ramps up launches worth RM2.4 billion in gross development value for the year, including some delayed projects. Last year, Paramount sold properties worth RM1.12 billion, a record high, with products launched worth RM886 million, compared with RM1.21 billion in 2022. Despite this, the management flagged rising costs following an increase in the sales and service tax to 8% effective last Friday, and the company may consider raising prices to protect its margins. — Paramount aims for RM1.4b sales in FY2024, flags potential property price increase 

PPB Group Bhd, which operates Golden Screen Cinemas (GSC), said it expects a tough year ahead for its film exhibition and distribution business, as the Hollywood writers' guild strike has affected supply of content in the medium term. The company is shifting its focus to local and regional movies, including participating in local film production, to gain better control over the content at its cinemas. GSC is working on co-producing local movies on profit-sharing, with costs ranging between RM8 million and RM20 million for each production. — PPB Group's GSC expects tough year ahead, to focus on local, regional movies 

Petroliam Nasional Bhd (Petronas) and CIMB Islamic Bank Bhd have signed an inaugural Tahawwut Master Agreement (TMA) for shariah-compliant commodity derivatives. The TMA is a multi-product framework agreement drafted by the International Swaps and Derivatives Association in collaboration with the International Islamic Financial Market Association. The TMA provides the market with globally accepted and standardised terms for Islamic hedging products, which is expected to spur the growth of Islamic hedging products in the international market. — CIMB Islamic, Petronas sign master agreement for shariah-compliant commodity derivatives 

Nextgreen Global Bhd has proposed a private placement of up to 102.57 million shares, representing 10% of its issued share capital, to yet-to-be-identified third-party investors with the issue price to be determined later. The exercise is expected to raise some RM89.62 million, at most RM92.32 million. Out of these, RM70 million of the placement proceeds will be used to fund its green technology park projects, while the remainder will be allocated for working capital, and to defray the proposed private placement expenses. — Nextgreen Global eyes placement of 102.57 million shares for RM92m to fund green tech park projects 

Fajarbaru Builder Group Bhd has won a RM120.82 million contract to build a clubhouse and a driving range complex in Johor Bahru. The Johor Golf and Country Club project was awarded by Tanjung Nakhoda (M) Sdn Bhd. The contract period is 90 weeks from March 11, 2024, to Nov 30, 2025. — Fajarbaru bags RM121m job to build clubhouse, driving range complex in Johor Bahru