KUALA LUMPUR (March 9): Here is a brief recap of some corporate announcements that made news on Thursday (March 9): AEON Credit Service (M) Bhd, Pos Malaysia Bhd, Able Global Bhd, Computer Forms (Malaysia) Bhd, WTK Holdings Bhd, EA Technique (M) Bhd, Toyo Ventures Holdings Bhd and GFM Services Bhd.
AEON Credit Service (M) Bhd has announced its first issuance of sukuk wakalah under its Islamic Commercial Papers (ICP) programme, involving a nominal amount of RM50 million for a tenure of three months. The proceeds will be used, among others, to finance disbursements to customers, and refinance existing or future Islamic financing facilities, said the consumer financing group in a bourse filing. AEON Credit had in November last year lodged information with the Securities Commission in relation to the ICP programme of up to RM1 billion in nominal value.
Pos Malaysia Bhd has launched its sustainability roadmap, which targets a 30% reduction in Scope 1 and Scope 2 emissions by 2025, and is committed to net zero carbon emissions for its operations by 2050. The group delivers to more than 11 million addresses, has more than 7,400 vehicles and one of Malaysia’s largest real estate portfolios. The group is already using electric bikes across Kuala Lumpur, with plans to have 200 of them in operation by the third quarter of 2023.
Able Global Bhd — through its 70%-owned subsidiary Able Development Sdn Bhd (ADSB) — plans to sell its 23.538-acre piece of land in Kuala Langat, Selangor for RM18.45 million to Able Perfect Sdn Bhd (APSB). The transaction is deemed to be a related party transaction as Ng Keng Hoe, also known as Huang Qinghe, is the director of ADSB, as well as the director and major shareholder of APSB with a 40% stake.
Computer Forms (Malaysia) Bhd's (CFM) board of directors said it was unaware of the reason behind the recent sharp decline in its share price, in its response to Bursa Malaysia's unusual market activity query. "Save for the joint venture agreement entered into between CFM and EA Mobility Holding Co Ltd which was announced on Jan 5, 2023, the board is not aware of any other corporate development relating to the company and its subsidiaries' business and affairs that has not been previously announced that may account for the trading activity, including those in the stage of negotiation/discussion," it said.
WTK Holdings Bhd is acquiring a second frozen food company to "create synergies" with the existing frozen food business. The diversified group said its wholly-owned subsidiary Kuching Plywood Bhd (which currently is involved in manufacturing plywood) is buying Interglobal Vision (Food Processing) Sdn Bhd for RM2.8 million. Interglobal Vision's current owner is TMC Importer & Exporter Sdn Bhd.
EA Technique (M) Bhd has entered into a memorandum of agreement for the disposal of a marine vessel to United Arab Emirates-based Alpha Metallum DMCC for US$5.2 million (RM23.52 million). The group plans to sell Nautica Muar (NMR) by the second quarter of 2023. NMR is one of three marine vessels that EA Technique intended to sell since August last year. The other two vessels are Nautica Kota Tinggi and Nautica Maharani.
Toyo Ventures Holdings Bhd, which owns the 2.12-gigawatt coal-fired power plant project Song Hau 2 in Vietnam, has inked an agreement for the operations and maintenance of the upcoming US$2.42 billion power plant. The group signed the contract with Power Engineering Consulting Joint Stock Company 2 with an annual contract price of US$86 million (RM388.81 million).
GFM Services Bhd announced that the group’s vice-chairman Ruslan Nordin has been redesignated as the new managing director. The integrated facilities management service provider also announced the retirement of Mohammad Shahrizal Mohammad Idris as managing director. Shahrizal, however, will remain as an executive director.