Friday 09 Jun 2023
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KUALA LUMPUR (July 8): Based on corporate announcements and news flow today, companies in focus tomorrow (Friday, July 9) could include: WCT Holdings Bhd, Cahya Mata Sarawak Bhd (CMSB), Green Packet Bhd, Enra Group Bhd, Telekom Malaysia Bhd (TM), T7 Global Bhd and Pelikan International Corp Bhd.

WCT Holdings Bhd’s 60:40 joint venture (JV) with China Communications Construction Co (M) Sdn Bhd (CCCC) has accepted the tender offer as main contractor for expansion of the Sapangar Bay Container Port in Kota Kinabalu for RM899.81 million. 

WCT said the WCT-CCCC JV today executed a letter of acceptance issued by the Malaysian government, as represented by the Sabah Economic Development and Investment Authority. 

The contract is expected to commence in September and complete in February 2025, the company said. 

Cahya Mata Sarawak Bhd (CMSB) has appointed Datuk Seri Sulaiman Abdul Rahman Abdul Taib as its new managing director, replacing Datuk Isaac Lugun. 

Isaac has been redesignated as CMSB’s non-independent and non-executive director effective today, according to the company's bourse filing.

Sulaiman, the brother of CMSB deputy chairman Datuk Seri Mahmud Abu Bekir Taib, was former deputy minister of tourism from March 2008 until December 2009. 

Green Packet Bhd is partnering with Malaysian Industrial Development Finance Bhd (MIDF) to provide financing solutions to small and medium enterprises looking to digitalise their businesses. 

To formalise the partnership, Green Packet group managing director CC Puan signed a memorandum of understanding with MIDF group managing director Datuk Charon Wardini Mokhzani in a virtual ceremony officiated by Deputy Minister of International Trade and Industry Datuk Lim Ban Hong. 

Under the MoU, MIDF will provide financing advisory services and financing facilities where applicable to potential and existing clients of Green Packet, who aim to fast-track their digital transformation journey.

Enra Group Bhd has proposed to acquire four properties and selected assets such as plant, equipment, inventories and machinery from MTU Services (Malaysia) Sdn Bhd for RM60 million. 

Enra, which has inked a non-binding indicative offer for the assets, said RM33 million of the consideration will be satisfied in cash, while the remainder will be satisfied via the issuance of 27 million new Enra shares at RM1 per share. 

Enra will lease the said assets back to MTU Services for up to nine years at RM3.3 million per annum or 18% of MTU Services's annual revenue, whichever is higher, on a triple net rental basis. 

Telekom Malaysia Bhd's (TM) unifi TV is looking to partner with over-the-top (OTT) media service providers to offer a variety of content in the future. 

TM chief commercial officer Anand Vijayan said unifi TV is "working on a few things in this area (potential partnerships with OTT platforms)". 

OTT platforms offer TV content through the internet, instead of traditional methods involving cable and broadcast systems, with notable examples including iTunes and Netflix. 

T7 Global Bhd's subsidiary T7 Aero Sdn Bhd has been appointed Malaysia’s distributor for New Zealand-based Atrax Group NZ Ltd's weighing and measurement products, which are catered to the airport and logistics sectors. 

In a statement to Bursa Malaysia today, T7 Global said Atrax designs and manufactures weighing, dimensioning and related-control systems for the airport and logistics industries. 

"T7 Aero is authorised to sell Atrax's range of products in Malaysia, with full technical and service support from Atrax.

Stationery maker Pelikan International Corp Bhd has disposed of its logistics centre in Germany for a cash consideration of €81 million (about RM400 million). 

The group said part of the disposal proceeds will be used to reward shareholders through special cash distribution.

Edited ByS Kanagaraju
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