This AEON sipeh creative, open a FURNITURE SHOP, I can't wait to go to IOI MALL and see.
This is the LINK of JV company, something like IKEA.
I am shareholder of IOIProperties.
Now looking at AEON.
Business & Markets 2014
Written by Charlotte Chong of theedgemalaysia.com
Friday, 12 September 2014 21:41
A + A - Reset
KUALA LUMPUR (Sept 12): Based on news flow and corporate announcements today, the stocks that may be in focus on Monday (Sept 15) could include the following: Aeon Co (M) Bhd, Globaltec Formation Bhd, IHH Healthcare Bhd, Benalec Holdings Bhd, Melewar Industrial Group Bhd, and water-related stocks.
Department store-cum-supermarket operator Aeon Co (M) Bhd is venturing into the furniture retail market, with the opening of its first home and interior furnishing store in IOI City Mall, Putrajaya, in November.
Dubbed “AEON Index Living Mall”, AEON Malaysia managing director Nur Qamarina Chew said the new home and interior furnishing outlet, measuring 6,800 sq m, will be the group’s flagship store.
The new store will be run by AEON Index Living Sdn Bhd, which is a 70:30 joint venture with Index Living Mall Co Ltd — a Thai furniture company.
Aeon climbed 0.79% to end at RM3.84 today, resulting in a market capitalisation of RM5.4 billion.
Meanwhile, Globaltec Formation Bhd has acquired a 49% stake in Empangan Sejati Sdn Bhd (ESSB) in its bid to venture into the hydro-electric generation sector.
ESSB owns an indirect 50% stake in Manifest Frontier Sdn Bhd (MFSB), which is a joint venture set up with Perak Hydro Renewable Energy Corporation Sdn Bhd to develop, build and operate a small a small hydroelectric power plant, with an installed capacity of 15 MW at Sungai Perak, Lenggong.
The stock gained 0.5 sen to close at 10.5 sen today, with a market capitalisation of RM565 million.
Over at IHH Healthcare Bhd, the healthcare group has proposed to fully acquire Singapore-based Radlink-Asia Pte Ltd (Radlink) for S$137 million (RM346.5 million), from Fortis Healthcare Singapore Pte Ltd.
RadLink is engaged in providing healthcare services including outpatient diagnostic and molecular imaging services in Singapore.
IHH fell 0.2% to close at RM4.98 today, translating to a market capitalisation of RM40.73 billion.
Meanwhile, Benalec Holdings Bhd is proposing to issue a seven-year convertible secured bond (CB), with a nominal value of up to RM200 million. Most of the proceeds — about RM146.5 million — will be used for its reclamation works.
Benalec said the interest rate will be based on a fixed rate, to be determined prior to the issuance.
Its share price dropped 0.54% to 92.5 sen at 5pm today, with 1.92 million shares done, giving it a market capitalisation of RM739.5 million.
Melewar Industrial Group Bhd has proposed to divest its wholly-owned steel unit, Melewar Steel Sdn Bhd (MST), to Mycron Steel Bhd for RM70 million.
In a filing to Bursa Malaysia, Melewar said the consideration would be paid via 104.5 million new shares from Mycron at 44 sen per share for a total of RM46 million, and the novation of a RM24 million debt owned by Melewar to Mycron.
“The proposed disposal of MST will not result in any gain or loss to the Melewar group,” the company said in its filing.
Melewar fell 4% to close at an intraday low of 48 sen, with 7.26 million shares changing hands. Its market capitalisation was at RM108.3 million.
Water-related stocks Kumpulan Perangsang Selangor Bhd (KPS), Puncak Niaga Holdings Bhd, Gamuda Bhd, pipemakers Engtex Group Bhd, YLI Holdings Bhd and JAKS Resources Bhd, as well as Langat 2 water treatment plant contractors Salcon Bhd, Ahmad Zaki Resources Bhd, MMC Corp Bhd, could attract interests on Monday, following the signing of a master agreement today between the Federal government and the Selangor state government, on the Klang Valley water restructuring exercise.
In a joint statement today, Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili and Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim said the master agreement was signed by Treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah, Selangor state secretary Datuk Mohammed Khusrin Munawi, Water Asset Management Co (PAAB) chief executive officer (CEO) Datuk Ahmad Faisal Abdul Rahman, and Pengurusan Air Selangor Sdn Bhd (PASSB) CEO Suhaimi Kamaralsaman.
“The share sale agreement between PASSB and the respective parties will be signed soon, which will complete the process of acquiring the Selangor water concession companies, and thus finalise the process of the water industry restructuring,” read the statement.