KUALA LUMPUR (Sept 13): Here is a brief recap of some corporate announcements that made the news on Wednesday involving Berjaya Corp Bhd, Berjaya Food Bhd. RHB Bank Bhd, Dagang Nexchange Bhd, Bumi Armada Bhd, TH Heavy Engineering Bhd, HHRG Bhd, OneTech Solutions Holdings Bhd, JHM Consolidation Bhd and Malaysian Genomics Resource Centre Bhd.
Berjaya Corp Bhd has increased its stake in Berjaya Food Bhd (BFood) to 55.31% from 52.86%, after the conglomerate bought 43 million BFood shares for RM29.57 million or about 68.8 sen per share.
RHB Bank Bhd has announced Oct 12 as the payment date for its interim dividend of 15 sen per share for the financial year ended Dec 31, 2023 (FY2023), with the ex-date falling on Sept 27, and the entitlement date on Sept 29. The dividend, which amounted to a payout of RM642.95 million, was announced on Aug 29.
Dagang Nexchange Bhd (DNeX) has proposed a private placement to raise up to RM133.44 million as funding for the expansion of its oil and gas segment. This is its first private placement since 2021, when it placed 30% of its issued share capital, raising RM163.61 million following its venture into SilTerra Malaysia Sdn Bhd. The latest fundraising is to fund the development of the Fyne Field in the UK's North Sea, the Meranti Cluster offshore Terengganu and the A Cluster offshore Miri, Sarawak. The private placement entails the issuance of up to 315.63 million shares, representing 10% of its total issued share of 3.15 billion.
Bumi Armada Bhd has signed a non-binding agreement with PT Pertamina International Shipping and PT Davenergy Mulia Perkasa (DMP), an Indonesian natural gas trading company, for the development and commercialisation of liquefied natural gas (LNG) in the Madura gas field in Indonesia. The agreement outlined the key principles to develop and commercialise LNG from the Madura gas field and its surrounding fields. Preliminary discussions have been initiated with several potential off-taker clients and the first shipment of LNG is anticipated to take place three years after making the final investment decision.
Offshore fabricator and shipbuilder TH Heavy Engineering Bhd (THHE) is undertaking a voluntary winding-up, a year after it was delisted from Bursa Malaysia. The company resolved to undertake the voluntary winding-up as it is unable to continue its operations due to liabilities, it said in a winding-up notice dated Sept 13. A meeting of creditors is scheduled for Oct 4 at 3pm. THHE is controlled by the Ministry of Finance-owned unit Urusharta Jamaah Sdn Bhd, which holds a 64.45% stake in the company prior to its delisting on Sept 5, 2022.
HHRG Bhd — formerly known as Heng Huat Resources Group Bhd — has entered into an agreement with several shareholders of Kulim Property Sdn Bhd (KPSB) to acquire KPSB’s entire equity for RM4.5 million. The acquisition by HHRG, via its wholly-owned subsidiary HH Properties Kulim Sdn Bhd, involves KPSB shareholders including father-son directors Goh Boon Leong and Goh Vincent, as well as Ho Whye Chong and Kelvin Tan Chun Khai. The acquisition by HH Properties involves purchasing Vincent’s 400,000 (34%) shares in KPSB, Boon Leong and Ho's 300,000 shares (25.50%) each and Tan’s 176,471 shares (15%). It will be funded through internal funds and borrowings, with the exercise expected to be completed by March 31, 2024.
OneTech Solutions Holdings Bhd has received a written requisition from Lau King Yew, who holds a 45% stake in the company, for an extraordinary general meeting to vote on resolutions including salary and benefit limits for directors and the managing director, as well as a re-audit of the group's financials. The requisition, just four months after an out-of-court settlement between OneTech and Lau — the former managing director who was removed from the board in September 2022 — highlights the strained relationship between the two parties.
Automotive lighting product manufacturer JHM Consolidation Bhd plans to team up with its Chinese counterpart Jiangsu Dekai Auto Parts Co Ltd (DEKAI) to sell automotive lighting products in Malaysia and other Southeast Asian countries. It has entered into a memorandum of understanding with DEKAI to record the intention of the two companies to form a joint venture company called JHM DEKAI Auto Lighting Sdn Bhd, which will design, manufacture, market and sell automotive lighting products here and in other Southeast Asian countries. JHM will hold a 55% stake in JHM DEKAI Auto Lighting and DEKAI, the remaining 45%.
Malaysian Genomics Resource Centre Bhd’s chief executive officer Sasha Omar Firdaus Aamir resigned on Wednesday after three years of holding the genomics and biopharmaceutical specialist's top job, ‘to pursue his personal interest’. He was appointed to the post in September 2020. Prior to his appointment, he was the group's chief operating officer, a post he held since February 2014.