KUALA LUMPUR (Oct 11): Here is a brief recap of some corporate announcements that made the news on Wednesday: Zhulian Corp Bhd, APB Resources Bhd, Star Media Group Bhd, Tropicana Corp Bhd, TSR Capital Bhd and Straits Energy Resources Bhd.
Zhulian Corp Bhd posted a net profit of RM6.2 million for its third quarter ended Aug 31, 2023, down 14.36% from RM7.24 million in the previous year’s corresponding quarter, as revenue came in at RM34.2 million, compared with RM32.96 million previously. The group declared a third interim dividend of three sen per share, to be paid on Dec 6, raising year-to-date (YTD) dividends for FY2023 to nine sen — same as the YTD period in FY2022.
APB Resources Bhd has proposed to acquire a 16-storey Serba Dinamik building in Shah Alam, Selangor for RM38 million, subject to the approval from the High Court. The group said it has received a letter from the liquidator of the troubled oil and gas (O&G) company, Serba Dinamik Group Bhd in respect of the liquidator’s application for directions on the sale on the leasehold land in Section 14, Shah Alam together with the office building. Meanwhile, the group highlighted the proposed acquisition will be financed through internally generated funds.
Star Media Group Bhd's group chief executive officer Alex Yeow Wai Siaw will step down after completing his employment contract at the end of February 2024. Yeow, 58, was appointed as group CEO on March 1, 2021.
Tropicana Corp Bhd is seeking to strike out a claim filed by RHB Trustees Bhd, Sunway REIT Management Sdn Bhd and Sunway Education Group Sdn Bhd over its breach of agreement and alleged double-dealing pertaining to the sale of shares and a stake in the St Joseph International School. The property developer said the claim discloses no reasonable cause of action, is scandalous, frivolous and vexatious, and amounts to an abuse of court process.
TSR Capital Bhd has bagged a RM104 million contract — nearly double its market value of RM56 million — involving infrastructure works at the Kwasa Damansara township development in Sungai Buloh, Selangor. TSR Capital said its wholly-owned subsidiary TSR Bina Sdn Bhd accepted the letter of award issued by Kwasa Land Sdn Bhd on Wednesday. The scope of works under the contract mainly involves the execution and completion of site clearance and demolition, earthworks, drainage, road, sewerage, water reticulation, and mechanical and electrical infrastructure works.
Straits Energy Resources Bhd has bagged a contract worth RM27.7 million for the installation, testing and commissioning of aluminium XLPE underground cables and accessories for asset development for Tenaga Nasional Bhd (TNB). The marine fuel supplier said its 70% indirect subsidiary Straits CommNet Solutions Sdn Bhd (SCS) accepted a letter of award (LOA) from Tianu Sdn Bhd on Tuesday. Tianu was awarded this project by TNB and as main contractor, has joined forces with SCS via a smart partnership to deliver the project.