Zetrix AI Sukuk: No Default Yet, Holders Meet Oct 23

Why Is Zetrix AI’s RM2 Billion Sukuk Under Watch?

Zetrix AI (KL:ZETRIX) said no payment default has occurred under its RM2 billion sukuk programme despite the Oct 22 deadline to resolve a covenant breach. The breach involves managing director Wong Thean Soon, who must remain the biggest shareholder in the digital services firm.

Sukuk Trustee Pacific Trustee Bhd meets holders on Friday to discuss a proposed resolution. Zetrix AI said the engagement “will serve as a basis for formulating and formalising an appropriate arrangement that is mutually acceptable to the relevant parties.”

Without a rectification or waiver, Zetrix AI would pay RM2 billion in principal and RM164.5 million in future coupon payments. That is the figure worth monitoring at the Oct 23 holder meeting.

Can RHB Bank Close Its Tokio Marine Insurance Merger?

RHB Bank (KL:RHBBANK) secured an extension until Feb 11, 2027, from Bank Negara Malaysia to finalise talks with Japan’s Tokio Marine on merging their general insurance businesses in Malaysia.

RHB would sell up to 100% of RHB Insurance Bhd to Tokio Marine, which would combine it with Tokio Marine Insurans (Malaysia) Bhd. RHB would keep an equity interest of up to 35% in the merged entity.

What Is Jati Tinggi’s Share of the RM568.2 Million TNB Contract?

A consortium led by Jati Tinggi Group (KL:JTGROUP) secured a RM568.2 million contract from Tenaga Nasional Bhd (KL:TENAGA) for a transmission main intake substation in Paka, Terengganu.

Jati Tinggi Holding takes 55%, or RM312.51 million. Kerjaya Prospek (KL:KERJAYA) unit Kerjaya Prospek (M) Sdn Bhd takes 25%, or RM142.05 million, while Betapec Sdn Bhd takes 20%, or RM113.64 million.

The Paka GIS substation is scheduled for completion within two years from its commencement date.

Which Deals Collapsed for Aizo Group and BMS Holdings?

Aizo Group (KL:AIZO) said its RM36.79 million sewage system upgrading subcontract in Terengganu will not proceed after Lembaga Kemajuan Terengganu Tengah cancelled the main contract to Puncak Utara Sdn Bhd. Puncak Utara reserved its rights to pursue loss claims against Aizo, without disclosing the reason or potential value.

BMS Holdings (KL:BMS) scrapped its RM23.8 million Cheras land acquisition after failing to agree terms with vendor Chyen Huat Hardware Sdn Bhd. The vendor refunded the earnest deposit, and neither party has further claims against the other.

What Is TSH Resources Saying About the Haze Probe?

TSH Resources (KL:TSH) told the Singapore Stock Exchange it denies its Indonesian plantation operations contributed to the transboundary haze. It detected 274 hotspots within its estate boundaries between Jan 1 and Oct 21, all in community enclave areas outside its planted and operational areas.

Singapore Senior Minister K Shanmugam named TSH on Oct 19 as one of seven publicly traded companies that received SGX enquiries.

Can RedPlanet Deliver 10-20% Annual Earnings Growth?

RedPlanet (KL:RPLANET) is aiming for annual earnings growth of 10% to 20% over the next three to five years. Managing director Lian Wah Seng said the target is “always our target for the company.”

The company provides geographical data analytics and safety systems that detect human intrusion on railway platforms. It is betting on grid upgrades for energy-hungry data centres and the government’s urban rail push in the Klang Valley.

What Do the Harbour-Link and Exsim Contracts Add?

Harbour-Link Group (KL:HARBOUR) is buying two 90-metre self-propelled container vessels for RM56.68 million cash. Its 85%-owned unit Harbour-Link Lines Sdn Bhd pays RM28.34 million for each vessel to Sapor Shipbuilding Industries Sdn Bhd.

Exsim Hospitality (KL:EXSIMHB) secured another Binastra Corp (KL:BNASTRA) subcontract worth RM13.49 million for carpentry works on typical units. Its unit Exsim Concepto follows the main contract programme, which commenced on Dec 9, 2024 and is scheduled for completion on June 8, 2028.

Why Is Pavilion REIT’s Distributable Income Down 1.4%?

Pavilion REIT (KL:PAVREIT) reported net property income of RM145.58 million for 3QFY2026, little changed from RM145.49 million a year ago. Gross revenue slipped to RM227.29 million from RM227.88 million, due to lower advertising income at Elite Pavilion Mall.

Distributable income fell 1.4% to RM96.47 million or 2.45 sen per unit, from RM97.86 million or 2.49 sen a year ago.

Why Did Foodie Media’s 4Q Net Profit Jump Over 10-Fold?

Foodie Media (KL:FOODIE) lifted 4Q net profit to RM4.55 million from RM0.43 million a year earlier. For the full year, net profit rose 67.7% to RM15.67 million from RM9.34 million, while revenue climbed 49.6% to RM55.49 million from RM37.09 million.

The group declared a second interim dividend of 0.39 sen and a special dividend of 0.61 sen, totalling one sen per share payable on Nov 19. That lifts FY2026 dividends to 1.53 sen per share, detailed in our Dividend Investing Guide.

Key Takeaways

• Zetrix AI: no payment default yet, with sukuk holders meeting on Oct 23 over the covenant breach.
• RHB Bank: Tokio Marine talks have until Feb 11, 2027, and RHB keeps up to 35% of the merged entity.
• Jati Tinggi: RM312.51 million share of the RM568.2 million TNB Paka contract.
• Foodie Media: FY2026 net profit up 67.7% to RM15.67 million, with dividends at 1.53 sen.

This article is for information only and is not financial advice. Do your own research before making any investment decision.

Frequently Asked Questions

Has Zetrix AI defaulted on its sukuk?

No. Zetrix AI said no payment default has occurred under its RM2 billion sukuk programme, despite the Oct 22 deadline to resolve a covenant breach. If the breach is not rectified or waived, it would owe RM2 billion in principal and RM164.5 million in future coupons.

When does RHB Bank’s Tokio Marine talks extension end?

Bank Negara Malaysia extended RHB Bank’s window to finalise talks until Feb 11, 2027. Under the proposed arrangement, RHB would retain up to 35% of the merged insurance entity.

What is Jati Tinggi’s share of the TNB Paka substation contract?

Jati Tinggi’s 55% share of the RM568.2 million contract amounts to RM312.51 million. The Paka GIS substation is scheduled for completion within two years from commencement.

What is Foodie Media’s FY2026 dividend?

Foodie Media’s total dividend for FY2026 is 1.53 sen per share. The quarter’s one sen payout is payable on Nov 19.

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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.

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