News in brief: Jan 6, 2022

PECCA GROUP BHD has proposed to undertake a bonus issue of 564 million new ordinary shares on the basis of three bonus shares for every one existing share held by its shareholders.

In a filing with Bursa Malaysia today, Pecca said in addition to rewarding its shareholders for their loyalty and continued support, the exercise will serve to provide existing shareholders with greater equity participation while maintaining their percentage of equity shareholding.

“This will also potentially result in the improvement of trading liquidity of Pecca shares by increasing the number of shares in issue, which will result in its shares being more affordable and encourage greater participation by a wider group of public shareholders and investors,” it added.

-- BERNAMA

LION INDUSTRIES CORPORATION BHD’s wholly-owned subsidiary, LLB Bina Sdn Bhd, has proposed to acquire 32.4 hectares of land in Sepang, Selangor from Grandprop Sdn Bhd and Premier Land Resources Sdn Bhd for RM23 million.

The acquisition provides a strategic investment opportunity and is in line with Lion Industries’ plan to expand its landbank for its property division. LLB Bina will own the land upon the completion of the novation agreement.

“The planned conversion of the usage of land from the existing agricultural land to mixed development/industrial development is expected to provide the group with the opportunity to create potential economic value and contribute to its earnings in the near future when the land is developed into mixed and industrial park development,” Lion Industries said in a filing with Bursa Malaysia.

-- BERNAMA

BURSA MALAYSIA BHD has announced the change in the name of Daibochi Bhd to Scientex Packaging (Ayer Keroh) Bhd.

The company’s securities will be traded and quoted under the new name with effect from 9 am on Jan 7, 2022.

“The company’s stock code remain unchanged,” Bursa Malaysia said In a statement.

-- BERNAMA

MALAYSIA AIRPORTS HOLDINGS BHD (MAHB) has allocated RM3.7 million to help its staff who are affected by the floods that inundated several states in Peninsular Malaysia.

This includes RM3.0 million as cash aid channelled to some 1,034 employees of MAHB as well as various other assistance carried out during the flooding, among them rescue mission and provision of temporary shelter as well as basic necessities and cleaning services for affected houses.

“In addition, a total of RM700,000 will be distributed through the Wakalah Zakat programme to those eligible, and efforts will be continued to help the flood victims who are facing difficulties,” it said in a statement.

-- BERNAMA