Here's what we have for the week

Significant Event

• Petroliam Nasional Bhd (Petronas) has agreed to increase the contract threshold for Sarawakian companies in the upstream and downstream sectors. The threshold value will be elevated from RM10 million to RM50 million for the upstream sector, and from RM5 million to RM20 million for downstream. This is going to be a boast for Sarawak based oil & gas companies.
• Extra Space Asia has been sold for SGD 570 million.

Real Estate Industry 

• Thong Guan Industries Bhd, the plastic manufacturer is acquiring a 78 acres of land from Advancecon Holdings Bhd for RM 34 million.
• K Seng Seng Corp Bhd is acquiring an industrial land in Klang at RM 27.13 per sqft.
• CI Holdings Bhd has expand its footprint by acquiring a piece of land located at Sime Darby Business Park, Pasir Gudang for RM 11.75 per sqft.
• Knusford Bhd, a company linked to owner of Duke highway and RTS is disposing a piece of land in Semenyih for RM 20.50 per sqft.
• Keppel Corp Is divesting a Shanghai property development firm for RMB 967 million.

Infrastructure/Logistics

• Kuala Lumpur City Hall (DBKL) had announced a Kuala Lumpur Traffic Master Plan 2040. Under the plan, DBKL will be limiting approvals for the construction of new highways in order to overcome traffic congestion in the city. Construction of a connecting highway to an existing highway (KL-NODE, DUKE2A & NPE 2 Highways) may be considered. The plan also aimed to achieve a 70:30 ratio of public transport users to private vehicle users by 2040.

Cash Call/ Debt restructuring/Restructuring/Proposed Listing

• Totm Technologies is looking to raise SGD 8.17 million through a proposed placement of 71 million new shares at an issue price of 11.5 cents apiece.
• NCT Alliance, the developer of properties in Genting Highland is increasing its size of private placement to 15% of total issued shares from 10% proposed less than one month ago.
• Tanco Holdings is proposing to raise RM100 million through an allotment of 100 million redeemable preference shares of RM1 each to the Social Security Organisation (Socso). In the meantime, Socso is partnering with another property developer to co-develop a piece of land into a residential project.
• One Glove Group Bhd, formerly known as Gets Global is proposing a rights issue to raise up to RM85.2 million to repay advances to shareholders, and for working capital and capital expenditure (capex) requirements.

Privatization

• Damansara Holdings Bhd, the Johor based property company is being privatized by Johor Corp for 80 sen per share.

Company Expansion Plan/ Capex Plan

• American fast-food chain Taco Bell is opening another 42 outlets by end of 2023. The company currently has 15 outlets in Malaysia.
• Berjaya Starbucks Coffee Company Sdn Bhd plans to open 35 to 40 new Starbucks outlets across Malaysia in the current financial year ending June 30, 2023.
• Texas Instrument Electronics is expanding its presence in Melaka.
• Petronas Chemicals Group Bhd (PetChem) and US-based fertiliser maker Anuvia Plant Nutrients have entered into an agreement, under which PCG will produce and market Anuvia's fertiliser in the Asia-Pacific region.

Users can filter the companies' activities via industry or nature of activities via using our tool for Malaysia companies and Singapore companies via the link.
Users can get access to all the major transactions of offices, lands, and factories in Malaysia via this tool.


Daily Insights

• The few indices show the prospect of Hong Kong. (Read Full Story) 
• The net position of institutional funds on USD/GBP. (Read Full Story) 
• Debt and Companies to avoid. (Read Full Story) 
• China is returning to a state-run collective economy. (Read Full Story)
• Why Zuckerberg is so obsessed with Metaverse. (Read Full Story)
• China Property Industry in crisis. (Read Full Story) 
• Malaysia Construction Industry in crisis. (Read Full Story) 
• 我们永远赚不到认知范围之外的钱. (Read Full Story) 

News we are reading

• Foreigners are now allowed to buy land in Thailand. (The Edge) 
• Proposed rules for crypto trading in Singapore. (Straits Time)
• OCBC to raise flagship OCBC 360 account interest rates up to 7.65%. (The Edge)
• Georgia booms as Russians flee Putin's war. (Reuters