Major corporate events of the week (iFast is buying a bank in UK, Hap Seng is expanding its land bank, Another merger event in SReits)

Here's what we have for the week

Construction Industry

• Aneka Jaringan Holdings has been awarded a RM 16.1 million contract for the provision of foundation works at a project located at Bukit Jalil
• HSS Engineers is providing engineering consultancy services for the project “Jambatan Merentasi Sg Marang di Laluan FT003 Jalan Kuala Terengganu – Kuantan
• Advancecon Sarawak Sdn Bhd is undertaking the earthwork and site clearing work through a contract offered by Yayasan Sarawak.

Utility Industry

• Sembcorp Industries has signed a long-term power purchase agreement (PPA) to supply 625 megawatts of power to Andhra Pradesh state power distribution companies for 12 years.
• Ranhill Utilities has been awarded a RM 161 million contract to reduce non-revenue water (NRW) in Pahang and Johor. (Water pipe suppliers may be a beneficiary of this contract)
• Celcom Networks Sdn Bhd had engaged Opcom holdings for related fiber optic infrastructure works through a 2 years contract. 

Energy and Mining Industry

• Wah Seong Corp is disposing of its idle asset. This time, it’s a leasehold land in Singapore. 
• Pantech is acquiring Unity Precision Engineering Sdn Bhd, a metal precision machining, engineering, and turnkey solutions company that serves the oil and gas industries for RM 13 million.
• Major policies changes for ore producing countries 
• How the Ukraine and Russia conflict is affecting oil prices.

Real Estate Industry 

• Lion Industries is acquiring a piece of 80acres land in Mukim Labu, Daerah Sepang
• Teck Guan Perdana bought a 306 acres leasehold land located at Lahad Datu
• Hap Seng Consolidated acquired a 15.34 acres land located at KL Metropolis from Naza TTDI Sdn Bhd

FMCG

• MSM Sugar has been awarded a contract worth RM 290 million to supply refined sugar to the Coca-Cola Company for both domestic and international production.

Cash Call/ Debt restructuring

• Sarawak Cable has proposed a debt restructuring plan with his lenders

Significant Event

• iFast Corporation Ltd, the holding company of Fundsupermart is acquiring a bank in UK.
• The proposed sale of mm2 Asia’s cinema business to Kingsmead Properties will not be going ahead.
• Mapletree Commercial Trust will be merging with Mapletree North Asia Commercial Trust.
• Comintel Corp Bhd is getting a new shareholder.

Company Expansion Plan

• Grand Venture Technology Ltd is expanding its capacity by acquiring a new manufacturing facility in Penang for RM 13.5 million.
• VS Industry is allocating RM 150 million to expand its capacity

The full list of company events can be accessed from here.
Malaysia
Singapore
 
Companies we are looking at

• A market leader in Malaysia insurance industry trading at 6 years low valuation
• The newcomer in the market, Senheng, and its competitors

Trades we are monitoring

• Short EUR
• Long agriculture products
• Long interest rate
• Long banks due to the interest rate hike
• Short non-profitable growth stocks
• A diverging signal between oil price and open interest