KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Mah Sing Group Bhd
is acquiring 59.1 acres of prime land in the Pulai district of Johor Bahru for RM63.0mn, which will be developed into super-linked homes with an estimated GDV of RM463.0mn.
Solarvest Holdings Bhd has proposed to acquire a 30% stake in Penang-based SIW Manufacturing Sdn Bhd for RM36.0mn to expand its presence in the clean energy and sustainable technology ecosystems.
Binastra Corporation Bhd has accepted a RM327.7mn contract to build 2 blocks of a 58-storey apartment for The Vividz @ Bukit Jalil project.
MMAG Holdings Bhd has, through its subsidiary MJets Air Sdn Bhd, accepted a letter of award from Malaysia Airlines Bhd to serve as the dedicated narrow-body freighter operator for MAB Kargo Sdn Bhd in 2025.
Investment company Abrdn plc, formerly known as Aberdeen Asset Management plc, has emerged as a substantial shareholder in Feytech Holdings Bhd, after raising its stake to 5.2% or 43.9mn shares.
JF Technology Bhd is set to begin selling and distributing its products in the US by January 2025, following a cross-licensing agreement signed with US-based Ironwood Electronics in July.
Cloudpoint Technology Bhd has secured a RM33.6mn contract to implement advanced integrated service management automation solutions from a local bank.
T7 Global Bhd has proposed to undertake a bonus issue of up to 197.4mn warrants, on the basis of one warrant for every five shares held by shareholders. The entitlement date and the exercise price of the warrants will be announced later.
Malton Bhd plans to raise up to RM19.5mn via a private placement of shares to third-party investors to fund its ongoing property development projects.
PJBumi Bhd via its wholly-owned subsidiary has entered into an agreement with Intlef Oil and Gas Group Co Ltd to establish a strategic partnership for any identified contracts to supply oil field equipment and manufacturing of land rigs in Malaysia and Indonesia.
TMK Chemical Bhd's initial public offering has attracted strong demand, with its new shares offered to the Malaysian public oversubscribed by 14.28 times.
VS Industry Bhd 1QFY25 net profit dropped 37.5% YoY to RM30.6mn, mainly due to lower sales orders from existing customers, unfavourable foreign exchange rates and higher labour costs because of an increase in headcount.
Magni-Tech Industries Bhd 2QFY25 net profit rose 18.7% YoY to RM25.9mn, largely driven by stronger earnings from its garment business.
