KUALA LUMPUR: Based on corporate announcements and news flow last Friday, companies that may be in focus today include Taliworks Corp Bhd, Ni Hsin Resources Bhd and KNM Group Bhd.

Public utilities operator Taliworks is taking over the New North Klang Straits Bypass Expressway from the government for RM265 million.

It told Bursa Malaysia that Jejak Melewar Sdn Bhd, in which it has a 75% indirect stake, had received a letter of award last Friday from the government to take over the assets and concession rights of the 17.5km expressway.

“The group will make the appropriate announcement upon the signing of the relevant agreements and documents to effect the aforesaid and any other developments relating to this in due course,” it said.

Cookware manufacturer Ni Hsin Resources Bhd managing director (MD) Hsiao Chih Chien resigned last Friday, citing pursuing other interests as the reason.

He will be replaced by executive director (ED) Chen Shien Yee, 49.

Ni Hsin told Bursa that Hsiao, 61, a Taiwanese and permanent resident in Malaysia, was appointed  the group’s ED on March 19, 2005 and MD on March 22, 2013.

Chen is a director of oil and gas consultation service provider Ideal Jacobs (Malaysia) Corp Bhd and has served as ED of Ni Hsin since last month.

Shareholders of KNM have aired their concerns about the company’s operations going forward, following the sharp drop in crude oil prices.

During the extraordinary general meeting last Friday, shareholders raised issues pertaining to the declining oil prices, KNM’s Petroliam Nasional Bhd (Petronas)-related contracts and the RM2.1 billion Peterborough project in the United Kingdom.

The process equipment manufacturer gave an assurance that it is “less impacted” by the falling oil prices as it is principally involved in onshore downstream activities.

It added that its work package contract for the Pengerang Integrated Petroleum Complex project in Johor is secure despite Petronas’ recent announcement that it would cut 15% to 20% of its capital expenditure next year.

This article first appeared in The Edge Financial Daily, on December 22, 2014.