Saturday 22 Jun 2024
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KUALA LUMPUR (March 20): Here is a brief recap of some corporate announcements that made news on Monday (March 20): Revenue Group Bhd, Theta Edge Bhd, Fast Energy Holdings Bhd, Star Media Group Bhd and  Kenanga Investment Bank Bhd.

Two and a half months after their executive functions were suspended, Revenue Group Bhd executive directors Brian Ng Shih Chiow and Dino Ng Shih Fang have resigned from the board of the e-payments service provider. Brian and Dino’s departure from the board effective Monday (March 20) was “due to [them] not [wanting] to be on the same board of directors with the current directors”. While the brothers have vacated their executive director post, Dino remains as the group’s largest shareholder with 85.38 million shares or a 17.71% stake.

Theta Edge Bhd received a contract termination notice from Institut Jantung Negara Sdn Bhd (IJN) dated March 17, 2023. Its wholly owned subsidiary Theta Technologies Sdn Bhd received the notice for the contract which IJN awarded on Feb 25, 2021. Theta Edge is consulting its advisers on the termination and is assessing the materiality of the financial impact. The contract entails the supply, conducting requirement study, design, developing/customising, configuring, integration, data migration, installation, testing, training, support and maintenance of the hospital information system and electronic medical record for IJN.

Petroleum trading and oil bunkering player Fast Energy Holdings Bhd has diversified into the consumer electronics sector, with its subsidiary's appointment as the exclusive distributor of China-made FreeYond products in Malaysia. The wholly owned subsidiary, Fast Technology Sdn Bhd, entered into an agreement with Great Work Corporation Ltd to be the sole distributor of FreeYond products in Malaysia. Great Work had secured the distribution rights for FreeYond products in Malaysia, Singapore, Thailand, and Indonesia from ShenZhen FreeYond Technology Co Ltd.  

MCA has been steadily increasing its shareholding in Star Media Group Bhd since August 2022 by acquiring 9.29 million shares, upping its stake by 1.27% to 327.46 million shares or 45.18%, while Amanah Saham Bumiputera (ASB) has been trimming its stake in the media group since the start of this year.

Of MCA's latest shareholding, 14.15 million shares or 1.952% are indirectly held. The latest acquisition involves 892,500 shares, acquired last Thursday and Friday via its investment arm Huaren Holdings Sdn Bhd. Prior to August 2022, MCA held 318.17 million shares or 43.89%. ASB, a unit trust fund under Amanah Saham Nasional Bhd — the manager set up by Permodalan Nasional Bhd to handle all its unit trust funds — disposed of 500,000 shares last Wednesday and Thursday, about 0.07% of Star Media's outstanding shares, leaving it with 43 million shares representing 5.933%.

Kenanga Investment Bank Bhd's dividend of six sen per share in respect of the financial year ended Dec 31, 2022 (FY2022) will be paid on April 14. The ex-date is April 4. Kenanga IB had announced the dividend on Feb 24, amounting to RM44.15 million. The dividend is lower than the 10.5 sen total dividend paid for FY2021.

Edited ByS Kanagaraju
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