KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
A consortium led by Khazanah Nasional Bhd has launched a formal offer to take Malaysia Airports Holdings Bhd
private for RM11.0/share after fulfilling all pre-conditions for the deal.
Sime Darby Bhd has rebranded as "Sime" to reflect its future vision and renewed focus on the automotive and industrial equipment sectors.
Pantech Group Holdings Bhd said it has obtained approval from the Securities Commission Malaysia to list two wholly owned subsidiaries on the Main Market of Bursa Malaysia via a special purpose vehicle.
Practice Note 17 company Barakah Offshore Petroleum Bhd said it will need to reformulate its regularisation plan after receiving an adjudication sum of RM78.8mn and updates on tendering contracts.
Meta Bright Group Bhd’s 70.0%-owned subsidiary, Expogaya Sdn Bhd, has secured a concrete supply contract worth about RM60.0mn from Megamas Jaya Sdn Bhd.
Mudajaya Group Bhd has secured a RM41.3mn construction contract from MJC City Development Sdn Bhd.
Citaglobal Bhd has entered into a deal with the Port of Baku to develop a 5.4megawatt solar photovoltaic facility in Azerbaijan.
Cropmate Bhd, a specialty fertiliser producer and distributor, has set its initial public offering price at 20.0sen/share to raise RM42.0mn at its upcoming ACE Market listing.
Sunsuria Bhd is acquiring a 20.0% stake in property developer KL City Gateway Sdn Bhd for RM10.5mn and subsequently inject about RM40.0mn in shareholder advances to the company to develop a 9.7-acre site in Kampung Sungai Baru in Kampung Baru, Kuala Lumpur.
Prolintas Infra Business Trust said it will not face any financial losses after its subsidiary, Prolintas Expressway Sdn Bhd, was ordered by an arbitrator to pay RM46.1mn to Bina Puri Holdings Bhd’s associate company KL-Kuala Selangor Expressway Bhd.
Bahvest Resources Bhd, a Sabah-based gold mining company, has proposed changing its name to Aumas Resources Bhd.
Cypark Resources Bhd said its floating solar farm at Danau Tok Uban, Kelantan has been approved to start operations on Nov 16, 2024.
Bursa Securities has approved the transfer of Infoline Tec Group Bhd's entire issued share capital from the ACE Market to the Main Market.
Petra Energy Bhd has secured a four-year contract from Sarawak Shell Bhd and Sabah Shell Petroleum Company Ltd for the provision of offshore crane operations and maintenance services.
Farm Price Holdings Bhd has scrapped its recently announced plan for a one-for-two bonus issue of warrants, saying it will revisit the plan next year instead.
Kossan Rubber Industries Bhd’s net profit fell 28.2% YoY to RM29.4mn for 3QFY24, from RM41.0mn a year ago, mainly dragged by higher raw material costs and unrealised foreign exchange losses.
Ge-Shen Corporation Bhd's net profit jumped 46.4% YoY to RM3.1mn in 3QFY24, from RM2.1mn a year earlier, driven by contributions from both existing manufacturing plants as well as from a newly acquired subsidiary in Kedah.
Betamek Bhd's net profit jumped 84.5% YoY to RM10.5mn in 2QFY25, from RM5.7mn a year earlier, due to effective cost management, and an one-off gain on consolidation of RM6.3mn following the acquisition of Sanshin (Malaysia) Sdn Bhd.
Malaysia Smelting Corporation Bhd posted a 20.9% YoY increase in net profit to RM14.3mn for 3QFY24, from RM11.8mn a year earlier due to the increased sales of refined tin and higher average tin prices.
