Tenaga Nasional, Sasbadi, Sunway, MPHB Capital, PPB Group and Lotte Chemical

Tenaga Nasional, Sasbadi, Sunway, MPHB Capital, PPB Group and Lotte Chemical
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KUALA LUMPUR (March 4):  Based on corporate announcements and news flow today, companies in focus on Friday (March 5) may include: Tenaga Nasional Bhd, Sasbadi Holdings Bhd, Sunway Bhd, MPHB Capital Bhd, PPB Group Bhd and Lotte Chemical Titan Holdings Bhd.  

Tenaga Nasional Bhd wholly-owned subsidiary TNB Renewables Sdn Bhd will buy a 39% stake in a 21.6MW project comprising five rooftop solar power plants in Vietnam from Singapore's Sunseap Group in an acquisition, which will serve as a beachhead for TNB to establish a local presence in Vietnam and expand into the rapidly growing renewable energy (RE) and utility market there. TNB president and CEO Datuk Baharin Din said the acquisition builds on TNB's earlier Malaysia-Singapore cross-border collaboration with Sunseap and demonstrates the utility's commitment to transforming TNB into a regional RE and utility player. TNB's statement, however, did not specify the acquisition price for the 39% stake in the 21.6MW project and where the solar power plants are located.

Sasbadi Holdings Bhd has inked an RM722,400 contract with the Community Development Department (KEMAS) to publish, design, print, bind, supply and deliver the English activity book for six-year-old nursery care centre children. According to the group, the period of the contract is from March 1 to Feb 28, 2023.

Sunway Bhd has set a sales target of RM1.6 billion for its property division this year, as the group launches RM2.8 billion worth of properties in anticipation of an economic recovery, amid the global Covid-19 vaccine rollout. The group said 40% or RM1.1 billion worth of the property launches will be in the Klang Valley, including Sunway Belfield in Kuala Lumpur city centre with a gross development value of RM320 million.

MPHB Capital Bhd has received an unusual market activity  query from Bursa Malaysia over the sharp rise in the company’s share price. The stock exchange regulator asked the company if there were any corporate developments relating to its business that had not been announced.

PPB Group Bhd said its investment in Wilmar International Ltd will continue to contribute significantly to its bottom line, particularly as the Singapore-listed associate company continues to expand. For the financial year ended Dec 31, 2020, PPB's share of Wilmar's net profit increased to RM1.24 billion from RM960 million in the previous year.

Lotte Chemical Titan Holdings Bhd sees a brighter outlook for the company, thanks to a continued uptrend in average selling prices of polymer products. The strong prices of polymer products are expected to either hold or increase, mainly buoyed by brightening economic recovery prospects with global vaccination roll-outs, complemented by a sudden polymer supply shortage in the Southeast Asian region caused by ongoing shipping container issues which curtailed imported polymer supplies from other regions.

S Kanagaraju