Corporate Updates - Bursa Malaysia - Insights

Date	Company	Event Details	Sector	Event Summary
28 May, 2026	SD Guthrie Bhd	SD Guthrie Bhd and Menteri Besar Selangor (Incorporation) are exploring a strategic partnership to develop a 2,500-acre mixed-use industrial project at Sepang Estate, Selangor, located near the KLIA Aeropolis. The development, situated within the Integrated Development Region in South Selangor and aligned with the Sepang Local Plan 2035, is expected to generate more than 32,000 job opportunities by 2030. The project is planned to include manufacturing and logistics infrastructure, supported by business facilities and training centres, and aims to strengthen the region’s industrial and aerospace ecosystem while leveraging proximity to Kuala Lumpur International Airport. This marks the second collaboration between the two parties following a previous integrated development project in Carey Island.	PLANTATION	Expansion Plan
11 May, 2026	HE Group Bhd	HE Group Bhd secured an RM86 million contract for the construction of a 132kV/33kV substation in Selangor. The project was awarded to its wholly owned subsidiary Hexatech Engineering Sdn Bhd, with completion targeted by Oct 31, 2027. Hexatech Engineering Sdn Bhd specialises in power distribution systems for industrial plants as well as industrial and commercial substations. Following the latest contract, HE Group Bhd’s order book increased to about RM150 million.	INDUSTRIAL SERVICES	Contract Awarded
11 May, 2026	Genting Bhd	Genting Bhd is partnering with Indonesian energy group PT Rukun Raharja for the Kasuri gas project in West Papua through the sale of a 5% participating interest in the Kasuri production sharing contract and a 5% equity stake in PT Layar Nusantara Gas, which is developing Indonesia’s first floating liquefied natural gas vessel. The upstream transaction is targeted for completion by February 2027, while the downstream transaction is expected to complete by end-July 2026, subject to approvals and conditions. Genting Bhd, through its subsidiaries Genting Oil Kasuri Pte Ltd and Genting LNG Pte Ltd, has invested more than RM5.5 billion into the integrated Kasuri LNG development. The approved development plan covers the Asap, Kido and Merah gas fields and includes supplying 230 million standard cubic feet per day of gas to the floating LNG facility over 18 years, as well as 101 million standard cubic feet per day to a planned ammonia and urea plant in West Papua for 17 years. The project involves processing gas at an onshore facility before liquefaction at the floating LNG vessel, which is designed to produce up to 1.2 million tonnes of LNG annually.	TRAVEL, LEISURE & HOSPITALITY	Operation Updates
11 May, 2026	Permaju Industries Bhd	Permaju Industries Bhd is exiting its Ford dealership business after about 15 years following the decision by its wholly owned subsidiary Capital Intertrade Sdn Bhd to cease operations. The subsidiary has issued notices to Sime Darby Auto ConneXion Sdn Bhd to terminate its dealer sales and service agreement, with operations scheduled to end by July 31, 2026. The dealership agreement between the parties began in April 2011. The decision to exit the business followed an internal review which found limited sustainability and growth prospects for the dealership operations. Permaju Industries Bhd is currently exploring new dealership partnerships to replace the business. For the quarter ended Dec 31, 2025, the group recorded revenue of RM3.59 million and a net loss of RM7.2 million. During the period, its automotive segment sold 13 units of the Ford Ranger.	AUTOMOTIVE	Termination
11 May, 2026	Ancom Nylex Bhd	Ancom Nylex Bhd’s 42.2%-owned subsidiary Nylex (Malaysia) Bhd received a letter of intent from the Malaysian government for a proposed public-private partnership rail project in Iskandar Malaysia. The approval was granted to a consortium comprising DOM Industries (M) Sdn Bhd, MMC Engineering Sdn Bhd, BTS Group Holdings Public Company Limited and Nylex. Under the consortium, BTS Group Holdings Public Company Limited will provide technical expertise, while Nylex (Malaysia) Bhd will act as the project promoter.	CHEMICALS	Contract Awarded
10 May, 2026	Gamuda Bhd	Gamuda Bhd secured a contract to develop the 75MW Jinbi Solar Farm in the Pilbara region of Western Australia. The project will involve the installation of 160,000 solar panels and will supply electricity to Rio Tinto under a 30-year power purchase agreement with Yindjibarndi Energy Corporation. The contract value was not disclosed, although estimates placed it at around RM600 million. Full commercial operations are expected to begin in mid-2028. The Jinbi Solar Farm includes an option to expand capacity to 150MW, including the potential addition of battery energy storage systems, subject to future approvals and development decisions. The project adds to Gamuda Bhd’s growing renewable energy portfolio in Australia, which includes the Marinus Link, Carmody’s Hill Wind Farm, Goulburn River Solar Farm and Boulder Creek Wind Farm.	CONSTRUCTION	Contract Awarded
8 May, 2026	Mr DIY Group (M) Bhd	Mr DIY Group (M) Bhd raised RM540 million through its first bond issuance since listing, comprising Islamic medium-term notes and Islamic commercial papers under its RM5 billion sukuk wakalah programme. The proceeds will be used to refinance existing borrowings, support working capital, fund capital expenditure and for general corporate purposes. The sukuk issuance attracted strong demand from investors including statutory bodies, pension funds, asset managers, takaful and insurance companies, and financial institutions. Orders for the Islamic medium-term notes exceeded the initial offering by 6.5 times, with final oversubscription of about 5.6 times. The seven-year notes were priced at 3.83%, while the 10-year tranche was priced at 3.92%. CIMB Investment Bank, Hong Leong Investment Bank and Maybank Investment Bank acted as joint lead managers for the issuance.	RETAILERS	Fund Raising
8 May, 2026	PUC Bhd	PUC Bhd sold a 13.76% stake in Pictureworks International Holdings Ltd for RM30 million cash to MacOS Ltd as part of efforts to unlock value, improve liquidity and redeploy capital into its core businesses and future opportunities. The disposal involved 3.04 million shares and reduced PUC’s interest in PIHL from 27.53% to about 13.76%, after which PIHL will be treated as an investment. PUC Bhd expects to record a gain of about RM5.82 million from the transaction. Of the RM30 million proceeds, RM17.28 million will be used to repay borrowings, while RM12.52 million will support working capital and strategic investments. Pictureworks International Holdings Ltd provides artificial intelligence-powered digital imaging solutions for theme parks, attractions and tourism-related businesses.	MEDIA	Disposal
8 May, 2026	Tenaga Nasional Bhd	Tenaga Nasional Bhd, through its subsidiary TNB Kuala Muda Solar Sdn Bhd, issued RM1.05 billion of Asean Green Sustainable and Responsible Investment sukuk wakalah to part-finance a 500MWac large-scale solar photovoltaic project in Kuala Muda, Kedah. The sukuk was issued in 17 tranches. The solar project originated from the fifth large-scale solar bidding round by the Energy Commission, where TNB Renewables Sdn Bhd was shortlisted in December 2024. Proceeds from the sukuk will also be used for refinancing borrowings, reimbursing project costs, funding reserve accounts, supporting working capital and covering issuance expenses. CIMB Investment Bank Bhd and Maybank Investment Bank Bhd acted as joint principal advisers, lead arrangers and lead managers for the issuance.	ELECTRICITY	Fund Raising
8 May, 2026	Zelan Bhd	Zelan Bhd plans to transfer two leasehold office units in Wisma Zelan to MMC Engineering Sdn Bhd to settle RM5.22 million owed for engineering services. The transaction involves two office units valued at about RM2.5 million each with leases expiring in 2090. The deal is considered a related party transaction as MMC Corp Bhd is a shareholder of both companies and holds a 39.244% stake in Zelan.	CONSTRUCTION	Restructuring

28 May, 2026

SD Guthrie Bhd

SD Guthrie Bhd and Menteri Besar Selangor (Incorporation) are exploring a strategic partnership to develop a 2,500-acre mixed-use industrial project at Sepang Estate, Selangor, located near the KLIA Aeropolis. The development, situated within the Integrated Development Region in South Selangor and aligned with the Sepang Local Plan 2035, is expected to generate more than 32,000 job opportunities by 2030. The project is planned to include manufacturing and logistics infrastructure, supported by business facilities and training centres, and aims to strengthen the region’s industrial and aerospace ecosystem while leveraging proximity to Kuala Lumpur International Airport. This marks the second collaboration between the two parties following a previous integrated development project in Carey Island.

PLANTATION

Expansion Plan

11 May, 2026

HE Group Bhd

HE Group Bhd secured an RM86 million contract for the construction of a 132kV/33kV substation in Selangor. The project was awarded to its wholly owned subsidiary Hexatech Engineering Sdn Bhd, with completion targeted by Oct 31, 2027. Hexatech Engineering Sdn Bhd specialises in power distribution systems for industrial plants as well as industrial and commercial substations. Following the latest contract, HE Group Bhd’s order book increased to about RM150 million.

INDUSTRIAL SERVICES

Contract Awarded

11 May, 2026

Genting Bhd

Genting Bhd is partnering with Indonesian energy group PT Rukun Raharja for the Kasuri gas project in West Papua through the sale of a 5% participating interest in the Kasuri production sharing contract and a 5% equity stake in PT Layar Nusantara Gas, which is developing Indonesia’s first floating liquefied natural gas vessel. The upstream transaction is targeted for completion by February 2027, while the downstream transaction is expected to complete by end-July 2026, subject to approvals and conditions. Genting Bhd, through its subsidiaries Genting Oil Kasuri Pte Ltd and Genting LNG Pte Ltd, has invested more than RM5.5 billion into the integrated Kasuri LNG development. The approved development plan covers the Asap, Kido and Merah gas fields and includes supplying 230 million standard cubic feet per day of gas to the floating LNG facility over 18 years, as well as 101 million standard cubic feet per day to a planned ammonia and urea plant in West Papua for 17 years. The project involves processing gas at an onshore facility before liquefaction at the floating LNG vessel, which is designed to produce up to 1.2 million tonnes of LNG annually.

TRAVEL, LEISURE & HOSPITALITY

Operation Updates

11 May, 2026

Permaju Industries Bhd

Permaju Industries Bhd is exiting its Ford dealership business after about 15 years following the decision by its wholly owned subsidiary Capital Intertrade Sdn Bhd to cease operations. The subsidiary has issued notices to Sime Darby Auto ConneXion Sdn Bhd to terminate its dealer sales and service agreement, with operations scheduled to end by July 31, 2026. The dealership agreement between the parties began in April 2011. The decision to exit the business followed an internal review which found limited sustainability and growth prospects for the dealership operations. Permaju Industries Bhd is currently exploring new dealership partnerships to replace the business. For the quarter ended Dec 31, 2025, the group recorded revenue of RM3.59 million and a net loss of RM7.2 million. During the period, its automotive segment sold 13 units of the Ford Ranger.

AUTOMOTIVE

Termination

11 May, 2026

Ancom Nylex Bhd

Ancom Nylex Bhd’s 42.2%-owned subsidiary Nylex (Malaysia) Bhd received a letter of intent from the Malaysian government for a proposed public-private partnership rail project in Iskandar Malaysia. The approval was granted to a consortium comprising DOM Industries (M) Sdn Bhd, MMC Engineering Sdn Bhd, BTS Group Holdings Public Company Limited and Nylex. Under the consortium, BTS Group Holdings Public Company Limited will provide technical expertise, while Nylex (Malaysia) Bhd will act as the project promoter.

CHEMICALS

Contract Awarded

10 May, 2026

Gamuda Bhd

Gamuda Bhd secured a contract to develop the 75MW Jinbi Solar Farm in the Pilbara region of Western Australia. The project will involve the installation of 160,000 solar panels and will supply electricity to Rio Tinto under a 30-year power purchase agreement with Yindjibarndi Energy Corporation. The contract value was not disclosed, although estimates placed it at around RM600 million. Full commercial operations are expected to begin in mid-2028. The Jinbi Solar Farm includes an option to expand capacity to 150MW, including the potential addition of battery energy storage systems, subject to future approvals and development decisions. The project adds to Gamuda Bhd’s growing renewable energy portfolio in Australia, which includes the Marinus Link, Carmody’s Hill Wind Farm, Goulburn River Solar Farm and Boulder Creek Wind Farm.

CONSTRUCTION

Contract Awarded

8 May, 2026

Mr DIY Group (M) Bhd

Mr DIY Group (M) Bhd raised RM540 million through its first bond issuance since listing, comprising Islamic medium-term notes and Islamic commercial papers under its RM5 billion sukuk wakalah programme. The proceeds will be used to refinance existing borrowings, support working capital, fund capital expenditure and for general corporate purposes. The sukuk issuance attracted strong demand from investors including statutory bodies, pension funds, asset managers, takaful and insurance companies, and financial institutions. Orders for the Islamic medium-term notes exceeded the initial offering by 6.5 times, with final oversubscription of about 5.6 times. The seven-year notes were priced at 3.83%, while the 10-year tranche was priced at 3.92%. CIMB Investment Bank, Hong Leong Investment Bank and Maybank Investment Bank acted as joint lead managers for the issuance.

RETAILERS

Fund Raising

8 May, 2026

PUC Bhd

PUC Bhd sold a 13.76% stake in Pictureworks International Holdings Ltd for RM30 million cash to MacOS Ltd as part of efforts to unlock value, improve liquidity and redeploy capital into its core businesses and future opportunities. The disposal involved 3.04 million shares and reduced PUC’s interest in PIHL from 27.53% to about 13.76%, after which PIHL will be treated as an investment. PUC Bhd expects to record a gain of about RM5.82 million from the transaction. Of the RM30 million proceeds, RM17.28 million will be used to repay borrowings, while RM12.52 million will support working capital and strategic investments. Pictureworks International Holdings Ltd provides artificial intelligence-powered digital imaging solutions for theme parks, attractions and tourism-related businesses.

MEDIA

Disposal

8 May, 2026

Tenaga Nasional Bhd

Tenaga Nasional Bhd, through its subsidiary TNB Kuala Muda Solar Sdn Bhd, issued RM1.05 billion of Asean Green Sustainable and Responsible Investment sukuk wakalah to part-finance a 500MWac large-scale solar photovoltaic project in Kuala Muda, Kedah. The sukuk was issued in 17 tranches. The solar project originated from the fifth large-scale solar bidding round by the Energy Commission, where TNB Renewables Sdn Bhd was shortlisted in December 2024. Proceeds from the sukuk will also be used for refinancing borrowings, reimbursing project costs, funding reserve accounts, supporting working capital and covering issuance expenses. CIMB Investment Bank Bhd and Maybank Investment Bank Bhd acted as joint principal advisers, lead arrangers and lead managers for the issuance.

ELECTRICITY

Fund Raising

8 May, 2026

Zelan Bhd

Zelan Bhd plans to transfer two leasehold office units in Wisma Zelan to MMC Engineering Sdn Bhd to settle RM5.22 million owed for engineering services. The transaction involves two office units valued at about RM2.5 million each with leases expiring in 2090. The deal is considered a related party transaction as MMC Corp Bhd is a shareholder of both companies and holds a 39.244% stake in Zelan.

CONSTRUCTION

Restructuring