KUALA LUMPUR (July 1): Here is a brief look at some corporate announcements and news flow on Friday (July 1) which include OCB Bhd, Berjaya Corp Bhd (BCorp), AmFIRST Real Estate Investment Trust (AmFIRST REIT), Mudajaya Group Bhd, Gamuda Bhd, AirAsia X Bhd (AAX), G Capital Bhd, Dagang NeXchange Bhd (DNeX), MY EG Services Bhd (MyEG) and Yinson Holdings Bhd.
OCB Bhd wants to diversify into property development and reduce its reliance on the existing business under its consumer foods, bedding products and building materials divisions. OCB added that it also intends to embark on other viable property development ventures in the future, including through strategic businesses or investments, joint ventures, collaborative arrangements, business agreements, and mergers and acquisitions.
Berjaya Corp Bhd (BCorp) has appointed its founder Tan Sri Vincent Tan’s daughter Chryseis Tan Sheik Ling, and the daughter of Sultan of Johor, Her Highness Tunku Tun Aminah Sultan Ibrahim Ismail, as its non-independent and non-executive director effective July 1. Separately, BCorp announced the departure of two of its independent directors, namely Datin Seri Sunita Mei-Lin Rajakumar and Datuk Hisham Othman. Hisham has been appointed as the CEO and executive director of Berjaya Land effective July 1.
AmFIRST Real Estate Investment Trust (AmFIRST REIT) is disposing of Menara AmFIRST in Petaling Jaya for RM62 million. The REIT said the 22-storey building will be disposed of to a private limited company, Forever Backup Sdn Bhd. Following the disposal, the REIT will incur net loss on disposal of RM4.93 million.
Mudajaya Group Bhd has bagged a RM104 million earthworks contract for a 1,200MW combined cycle gas power plant project in Gurun, Kedah. The project is targeted to be completed by August 2023, and is expected to contribute positively to the group’s earnings for the financial year ending Dec 31, 2022 onwards.
Gamuda Bhd has bagged a RM1.96 billion construction contract from Pengurusan Air Selangor Sdn Bhd (Air Selangor) as the main contractor for the Sg Rasau water treatment plant in Selangor. Gamuda said it received a letter of acceptance on Friday (July 1) for the award of the Sg Rasau water supply scheme (stage 1) project, also dubbed "Package 1: Design and build of proposed Rasau intake, raw water pumping mains, water treatment plant and associated works" from Air Selangor.
AirAsia X Bhd (AAX), the low-cost long-haul affiliate of AirAsia Aviation Group, said it is in the midst of regularizing its financial position via a proposed debt and corporate restructuring and fundraising, after slipping into Practice Note 17 status last year. Thereafter, it will implement a revised business plan to turn around its financial performance. It has about four months to submit the regularization plan to the relevant authorities for approval.
G Capital Bhd’s 70%-owned unit Solarcity Malaysia Sdn Bhd had completed the installation and commenced operation of a 7.0MW peak (MWp) solar photovoltaic electric power generation system for a power purchase agreement with Evergreen Fibreboard Bhd. The group said Solarcity and Evergreen have accepted July 1 to be the commercial operation date for the plant at Parit Raja Industrial Estate in Batu Pahat, Johor.
Dagang NeXchange Bhd (DNeX), via its 90%-owned subsidiary Ping Petroleum UK PLC, has taken delivery of the Sevan Hummingbird floating production storage and offloading (FPSO) vessel from marine energy transportation company Teekay Corp. DNeX said the acquisition of the FPSO is a critical milestone in the Central North Sea Avalon development project in the UK, which the group continues to progress after receiving a letter of “no objections” from the North Sea Transition Authority (NSTA) in March this year for its proposed Avalon development plans.
MY EG Services Bhd (MYEG), via its Zetrix blockchain, and Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) have jointly announced the introduction of Blockchain-based Identifiers (BIDs)/Verifiable Credentials (VCs) and Blockchain-based E-signing services to international markets. The group said Xinghuo BIF is a China initiated international blockchain infrastructure supported by all levels of the Chinese government while Zetrix blockchain runs the International Supernode of Xinghuo BIF to connect entities outside China to the Xinghuo BIF.
Yinson Holdings Bhd’s 49:51 joint venture with PetroVietnam Technical Services Corporation (PTSC), PTSC Asia Pacific Pte Ltd (PTSC AP), has received a 12-month extension for a bareboat charter contract for PTSC Lam Son valued at US$18.1 million (RM79.8 million).
PTSC, which is also the client, entered into an addendum with PTSC AP on June 30, Yinson said.