SUMATEC RESOURCES BHD , controlled by tycoon Tan Sri Halim Saad after he injected O&G assets into the company, announced it has received approval from the Ministry of Justice of the Republic of Kazakhstan to incorporate a wholly owned subsidiary named Sumatec Oil & Gas LLP in that country.
“Its principal activity is to engage in exploration, production, operations, and processing of O&G,” the company said of the new subsidiary’s role.
The company expects the new subsidiary to have a positive impact on its earnings in the future.
PUBLIC BANK BHD  will issue up to RM10 billion worth of medium-term notes to meet local regulators' new capital-adequacy requirement.
In a statement to the exchange today, Public Bank said it has obtained approvals from Bank Negara Malaysia (BNM) and the Securities Commission for the exercise.
"The subordinated medium-term notes (sub-notes) to be issued from time to time under the sub-notes programme will qualify as tier-two capital for the computation of the regulatory capital of Public Bank and Public Bank Group in accordance with the capital-adequacy framework issued by BNM.
"The tenure of the sub-notes programme is up to 30 years from the date of first issuance of sub-notes under the sub-notes programme," Public Bank said.
Bond-rating firm RAM Rating Services Bhd has an "AA1" rating on Public Bank’s notes.
Unisem Bhd informed Bursa Malaysia that Lembaga Tabung Haji (LTH) had acquired its shares on the open market in the last week of June and first week of July.
From June 26 to June 28, the pension fund had picked up a total of 1.75 million shares, and for five days in July 1-5 it had bought 2.25 million shares.
Earlier in the June 19-24 period, LTH had also acquired a total of 2 million shares.
In addition, Unisem’s own group MD John Chia Sin Tet had also acquired the company’s shares in early June.
TENAGA NASIONAL BHD  (TNB), whose share price has risen in the last few days, may be energised by a research report today by Stanley Morgan that expects the utilities company to post strong 3Q earnings.
In a report, Morgan Stanley said TNB is estimated to post a net profit of RM1.022 billion for its third quarter ended May 31, 2013, which would be a 65% year-on-year rise.
In the third quarter of the last financial year, TNB recorded a net profit of RM619 million.
Giving TNB an “overweight” rating, Morgan Stanley said its share price has a 16% upside.
But on the down side, the government said it has yet to decide on the electricity tariff review. An increase in tariffs will be positive for TNB’s bottomline.
According to the Minister of Energy, Green TECHNOLOGY  and Water, Datuk Seri Dr Maximus Johnity Ongkili today, there is a need to look at how TNB and Petronas can absorb the increase in costs.
AHMAD ZAKI RESOURCES BHD  has won a CONSTRUCTION  contract worth RM171.5 million from Universiti Teknologi Malaysia (UTM).
In a filing with Bursa Malaysia, AZRB said its wholly-owned subsidiary Ahmad Zaki Sdn Bhd has received the letter of award from UTM to design and build a student-accommodation complex at UTM Kuala Lumpur along Jalan Semarak.
The project is expected to be completed on July 21, 2016, AZRB said.
AZRB said the project is expected to contribute positively to its earnings and net tangible assets for financial years ending December 13, 2013 to 2016.
STONE MASTER CORPORATION BHD , in bid to diversify and expand its revenue base, announced its subsidiary S.P. Granite Sdn Bhd (SPG) has signed a distribution agreement for iron ore with FIRC Trade (Malaysia) Sdn Bhd (FIRC).
The agreement provides for an exclusive distribution rights for the Jiangsu Province in China. The agreement will cover the distribution of “Iron Ore Fine”.
“The signing signals the beginning of the revitalization of Stone Master’s business and strategy. The appointment as exclusive distributor for the Jiangsu Province will allow us to diversify and expand our current revenue base from the traditional business of granite and marble products, ceramic floor tiles and sanitary wares; which has seen increasing competition,” said Andrew Ho, executive director, in a statement.
The signing of the agreement is expected to contribute towards the revenue base of its subsidiary company SPG, said the company.
Written by Ho Wah Foon of theedgemalaysia.com