Trading ideas: Paramount, CelcomDigi, InNature, AwamBiru, Nova MSC, Cuscapi, BHIC, Sarawak Cable, Pharmaniaga

KUALA LUMPUR: Here is a recap of the news headlines from Corporate Malaysia.

Paramount Corp Bhd has bought a 21.5% stake in Eco World International Bhd for RM170.6mn in cash, to be funded via a combination of bank borrowings and internally generated funds.

CelcomDigi Bhd has completed 44% of its nationwide network integration and modernisation programme as it modernised over 7,200 sites as at end-April.

Innature Bhd is acquiring the operator of Burger & Lobster restaurants for RM21.3mn from its major shareholders in a related-party deal as part of a diversification plan.

Bursa Malaysia Securities Bhd has lifted Awanbiru Technology Bhd, formerly Prestariang Bhd, from its status as an affected listed issuer, after 3 years, as it had complied with the criteria for the upliftment.

Two subsidiaries of Nova MSC Bhd have attracted the interest of another Singapore-based family office Mark Investment Group VCC, which is considering investing about RM41mn in the companies.

Digital business solutions provider Cuscapi Bhd said Securities Commission Malaysia has approved its associate company MX Global Sdn Bhd to facilitate the trading of the Worldcoin token on digital asset exchanges recognised by the SC.

Boustead Heavy Industries Corp Bhd said it has completed the sale of its 20.8% stake in littoral combat ship company Boustead Naval Shipyard Sdn Bhd for RM1.

Sarawak Cable Bhd has identified "a strong alternative party" who is interested in spearheading a resuscitation plan for the group, after its plan to regularise its financials with the help of UK-based Serendib Capital Ltd fell through.

Pharmaniaga Bhd, whose weak financials have just been flagged by its independent auditor for a second consecutive year, assures shareholders that it is committed to financial recovery and has made “strong and steady progress” on this.

LFE Corp Bhd has secured an RM8.3mn piling contract from Puncakcity Development Sdn Bhd.

Main Market-bound Feytech Holdings Bhd's initial public offering was oversubscribed by 15.6 times.

Ajiya Bhd has entered into a loan agreement with Chin Hin Group Bhd to provide a loan of up to RM250mn to Chin Hin.

At the close of Chin Hin Group Bhd's mandatory takeover offer for all the remaining stakes in Signature International Bhd, Chin Hin received acceptances for over 245.5mn shares, or the equivalent of a 38.7% stake.

MAA Group Bhd has bought an additional 5.0% stake in troubled PN17 company KNM Group Bhd for RM33.2mn or an average price of 16.5 sen per share via a direct business transaction.

BCM Alliance Bhd’s largest shareholder Kiu Cu Seng has disposed of his entire shareholding of 305.1mn shares, or a 15% stake obtained via exercising employee share option scheme.

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