MY Morning Wrap | Affin Bank Introduces Affin Diventium Private Banking for High Net Worth Individuals

$AFFIN (5185.MY)$ has officially launched Affin Diventium, a private banking service tailored for individuals possessing investable assets of RM2 million or more. This premium service provides clients with comprehensive access to the bank’s diverse offerings, ranging from everyday banking needs and investment management to sophisticated corporate banking services and extensive financial planning. The bank aims to attract approximately 250 clients in its first year, targeting a mix of local, foreign, and internal customers.

$CYPARK (5184.MY)$ has announced the postponement of its periodic distribution for the RM235 million tranche 1 perpetual sukuk, originally scheduled for this Wednesday. The decision supports the company's strategic focus on achieving the commercial operations date for its 60MW floating solar plant in Kelantan. This marks the second postponement of the distribution, following a similar delay of the coupon payment on March 4, earlier this year, which was then extended to September 4. Cypark has a total of RM500 million in perpetual sukuk, with the remaining RM265 million subscribed last year by its principal shareholder, Jakel Capital, which holds a 21.47% stake in the renewable energy company.

$SLVEST (0215.MY)$ has been awarded a RM113.29 million contract by P Solar Sdn Bhd to build a 30MW solar facility in Pekan, Pahang. The task will be undertaken by Solarvest's subsidiary, Atlantic Blue Sdn Bhd, with a completion timeline of 18 months following the award acceptance on Tuesday. P Solar, which holds a 70% stake in Malaysian Renewable Energy Group Sdn Bhd, received this project under the Corporate Green Power Programme (CGPP) facilitated by the Energy Commission.

$Alumina Ltd (AWC.AU)$ has been granted a RM19.9 million sub-contract by Gamuda Engineering Sdn Bhd for construction works at a data centre in Rawang, Gombak. The project, which will be executed by AWC’s wholly-owned subsidiary, Qudotech Sdn Bhd, includes the construction of essential infrastructure such as cold water, rainwater harvesting, and sewerage services. The sub-contract commenced on September 2, 2024, and is slated for completion by November 18, 2025.

$MHB (5186.MY)$ has partnered with HD Hyundai Marine Solution Co Ltd (HD HMS) to provide green retrofit solutions in Southern Asia. The agreement, which spans two years with an option for a two-year extension, was signed by MHB's subsidiary, Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE). This partnership focuses on enhancing energy efficiency and reducing environmental impact through the retrofitting of buildings, vessels, and infrastructures.

$MAGNI (7087.MY)$ reported a significant 36.4% increase in net profit to RM44.64 million for the first quarter ending July 31, 2024 (1QFY2025), up from RM32.73 million in the previous year. The increase was driven by higher revenue across its business segments, with quarterly revenue rising 34.9% to RM437.6 million. The company also announced a dividend of five sen per share, payable on October 10.

$EURO (7208.MY)$ announced that the High Court has dismissed a lawsuit against the company and its former managing director Datuk Seri Lim Teck Boon, which was filed by Surian Creation Sdn Bhd. The suit, which was struck out with costs on Tuesday, had demanded RM19.29 million, accusing Euro Holdings and its subsidiaries of misusing Surian to secure banking facilities for their benefit without assuming any liability.

$HEXZA (3298.MY)$ announced on Tuesday its acquisition of 50,000 shares in British semiconductor and software design leader $Arm Holdings (ARM.US)$ for US$6.36 million (RM29.48 million), in a cash transaction aimed at generating dividend income and potential capital gains. The shares were purchased on the open market via Nasdaq, using internal funds. This investment is described by Hexza as non-operational, primarily serving as an alternative to traditional financial products such as fixed deposits, money market funds, and unit trusts. In a separate move, Hexza divested 216,394 shares in American robotics company Symbotic Inc for US$5.14 million, cash. These shares were acquired between April 28, 2023, and July 26, 2024, at an average price of US$39.27 each, culminating in a fair value loss of RM12.89 million.

$WELLCAL (7231.MY)$ is set to purchase three parcels of leasehold land totaling 18.31 acres in Ipoh, Perak for RM32 million. Located near its current manufacturing sites in Kawasan Perindustrian Pengkalan II, these lands will support future expansions and enhance operational flexibility without space constraints.

$PWROOT (7237.MY)$ has initiated a sukuk wakalah program with the Securities Commission of Malaysia to secure funds for working capital, capital expenditures, and refinancing of existing or future debts. The company has submitted the required documents for the Islamic Medium Term Notes (IMTN), valued at up to RM500 million, based on the shariah principle of Wakalah Bi Al-Istithmar. This IMTN program, with a 30-year tenure from the issue date, mandates a minimum term of one year for each note, ensuring all mature by the program's conclusion.