FBMKLC I1558.17 DJ-198.75 CRUDE OIL 96.90 RM 2.9145

  

Ho Hup Construction Co Bhd has accepted a term loan facility of RM75mil from Insas Credit & Leasing Sdn Bhd to repay its loan from CIMB Bank Bhd. The loan from CIMB, which has been in default for the last three years, was secured on a 24.28-ha land held by its unit, Bukit Jalil Development Sdn Bhd.

Sarawak Consolidated Industries Bhd (SCIB), a concrete products manufacturer, was issued an unusual market activity (UMA) query yesterday by Bursa Malaysia due to the high trading volume of its shares on the Main Market. SCIB shares rose from 30 sen on July 19 to a high of 65 sen yesterday, a 116.7% increase. Total SCIB shares traded yesterday was 5.62 million, up from 30,000 a day earlier. In a response to Bursa Malaysia on the UMA, SCIB said it was not aware of any corporate developments, rumours, reports or possible explanation for the unusual market activity.

Ingress Corp Bhd has submitted tender for several projects including the Ampang line light rail transit (LRT) extension and RM1.5bil worth of jobs from Keretapi Tanah Melayu Bhd (KTMB). Executive vice-chairman cum CEO Datuk Rameli Musa said Ingress had submitted the tender for KTMB works in March and the results would be announced in September.

SP Setia Bhd's subsidiary, Setia (Hangzhou) Development Co Ltd, and Hangzhou Ju Shen Construction Engineering Ltd have terminated their joint-venture (JV) contract for the development of a mixed property project on 25 acres in Zhejiang, China. SP Setia said in a statement to Bursa Malaysia that the conditions precedent set out in the JV contract had not been met as at Wednesday.

 

Favelle Favco Bhd secured four separate contracts worth a combined RM79.3 million to supply offshore cranes, a tower crane and winches. It said on Wednesday, July 27 that its subsidiaries Favelle Favco Cranes (M) Sdn Bhd, Favelle Favco Cranes Pty Ltd, Favelle Favco Cranes Pte Ltd and Favelle Favco Winches Pte Ltd had received the purchase orders or letters of intent from their clients.