Axiata, Hibiscus Petroleum, Maxis, Sedania Innovator, Eastland Equity and TDM

KUALA LUMPUR (Oct 3): Based on corporate announcements and news flow today, stocks in focus on Friday (Oct 4) may include Axiata Group Bhd, Hibiscus Petroleum Bhd, Maxis Bhd, Sedania Innovator Bhd, Eastland Equity Bhd and TDM Bhd.

Axiata Group Bhd reportedly asked its towers unit edotco Group Sdn Bhd to seek deals to enter new markets or expand in Southeast Asia and South Asia, and may consider selling a stake if attractive large investment opportunities arise.

Hibiscus Petroleum Bhd is participating in an oil exploration project previously awarded to its 11.7%-owned Australian associate 3D Oil Ltd in the offshore Gippsland Basin, Australia. Hibiscus said its indirect wholly-owned subsidiary Carnarvon Hibiscus Pty Ltd (CHPL) has exercised an option to take up a 50% interest in the exploration permit there.

Maxis Bhd and Huawei Technologies Malaysia have sealed an agreement for the provisioning of the 5G service network in Malaysia.

Sedania Innovator Bhd is venturing into the electronic sports or esports space via a special purpose vehicle that it will take a 42.55% stake in, to launch a global esports tournament and media network.

The technology company, which is presently involved in fintech, greentech, the Internet of Things and big data analytics, has inked a share subscription agreement with iCandy Interactive Ltd and the former chief of AG, Michael Broda, to take part in the venture. iCandy will also have a 42.55% in the SPV — Esports Pte Ltd (ESPL), which was incorporated in Singapore — while Broda will own the remaining 14.9%.

Eastland Equity Bhd has proposed to raise up to RM2.65 million via a private placement of up to 10% of its total issued shares to third party investor(s) to be identified later.

Eastland said proceeds from the latest proposed private placement will be used to repay bank borrowings, for working capital and to finance the group’s property development activities.

TDM Bhd has denied that a company linked to it is involved in any open burning in Indonesia.

TDM said it practises the RSPO principles and is strictly governed by the "No Burning" policy. It said there shall be no use of fire in the preparation of new planting, replanting or any other development.