KUALA LUMPUR (Oct 31): Here is a brief recap of some corporate announcements that made news on Tuesday involving Tri-Mode System (M) Bhd, Pensonic Holdings Bhd, Selangor Dredging Bhd, Berjaya Land Bhd, Ageson Bhd, Salutica Bhd, PTT Synergy Bhd, Dufu Technology Corp Bhd, ECA Integrated Solution Bhd, Bursa Malaysia Bhd, Reneuco Bhd, Dagang NeXchange Bhd’s (DNeX) and MISC Bhd.

Tri-Mode System (M) Bhd has proposed to acquire three parcels of leasehold land in Pulau Indah, Klang for a total cash consideration of RM42 million. Tri-Mode said it is buying the land from Central Spectrum (M) Sdn Bhd, a company indirectly owned by Menteri Besar Selangor Incorporated. The group intends to fund the acquisitions with internally-generated funds and/or bank borrowings.

Vincent Chew Chuon Ghee has stepped down as Pensonic Holdings Bhd managing director “to pursue other interest and personal commitment” after reducing his stake in the electrical home appliances maker to below 5%, the threshold that requires timely disclosure to Bursa Malaysia for any shareholding changes. He ceased to be a substantial shareholder in the group after disposing of four million shares or a 3.18% stake for RM3 million or 75 sen apiece, in an off-market transaction on Sept 25.

Selangor Dredging Bhd’s wholly-owned unit is buying 29.19 acres (11.81 hectares) of vacant leasehold land, together with completed earthworks, in Dengkil, Selangor for RM87.9 million from Xtra Touch Sdn Bhd. The acquisition is part of Selangor Dredging’s ongoing effort to identify suitable properties for its land bank.

Berjaya Land Bhd has secured a syndicated loan of US$330 million (RM1.58 billion) from a consortium of Japanese financial institutions to fund the development of the prestigious Four Seasons Resort & Private Residences in Okinawa, Japan. The group said the consortium is led by Tokyo Star Bank Ltd and co-led by Okinawa Development Finance Corporation (ODFC) and Bank of The Ryukus. The group added that the loan syndication also involves several major financial institutions, including Bangkok Bank Japan, The Ogaki Kyoritsu Bank and The Aichi Bank, amongst other regional banks.

Ageson Bhd’s external auditor, Jamal, Amin & Partners is unable to provide a basis for an audit opinion on the company’s audited financial statements for the 18-month financial period ended Dec 31, 2022 (FY2022) as the group has failed to provide sufficient appropriate audit evidence. The builder-cum-property developer said it expects to resolve the issue relating to the disclaimer of opinion within the next financial year. In May, the group highlighted it was in the midst of finalising the appointment of new auditors and targeted to issue its annual report for the financial year ended Dec 31, 2022 (FY2022) by October.

Shares of loss-making Salutica Bhd maintained their upward trajectory on Tuesday after a week of consistent gains, breaching the RM1-mark to close at a six-month peak of RM1.02.

The sudden surge in Salutica’s share price and trading volume has prompted Bursa Malaysia to pose an unusual market activity query to the company.

The counter rose to an intra-day high of RM1.04, before retreating to close at RM1.02, still up 17.5 sen or 20.71% — slotting it among Bursa Malaysia’s top gainers.

Integrated construction and property firm PTT Synergy Bhd has secured a RM53.29 million contract for construction and completion of various works related to Phase A (Package 1) Elmina Business Park 2 in Rawang. The group via its wholly-owned unit Pembinaan Tetap Teguh Sdn Bhd received a letter of award (LOA) from Sime Darby Property Bhd on Oct 23. The project is scheduled to commence on Nov 13, 2023 and to be completed by May 12, 2025 and contribute positively to the group’s future earnings over the duration of the LOA.

Dufu Technology Corp Bhd’s net profit for the third quarter ended Sept 30, 2023 (3QFY2023) fell by 79.42% to RM3.38 million compared with RM16.42 million on the back of an increase in operating costs and drop in revenue. Quarterly revenue eased by 26.08% to RM55.24 million from RM74.72 million, underpinned by a decrease in revenue related to hard disk drive (HDD) components and sheet metal fabrication.

Naza Corp Bhd has emerged as a substantial shareholder of ECA Integrated Solution Bhd after acquiring a 5.18% stake or 30 million shares last Friday, a filing with Bursa Malaysia showed on Monday. Following the stake acquisition, the conglomerate is now the fourth-largest shareholder of the automated manufacturing solutions provider. The largest shareholder of the group is executive director and chief operating officer Chua Lye Hock with a 21.26% stake, followed by Siew Ooi Chin with 20.02% and Kang Ewe Kheng with 11.66%.

Bursa Malaysia Bhd’s net profit for the third quarter ended Sept 30, 2023 (3QFY2023) rose 20.5% to RM60.41 million from RM50.13 million a year ago on the back of improved trading revenue from the securities market. The company’s revenue rose 13.07% to RM158.71 million from RM140.36 million previously, mainly due to a 26.2% rise in securities market trading revenue to RM70.4 million from RM55.8 million a year ago.

Reneuco Bhd will be undertaking civil construction and telecommunication works along the South Klang Valley Expressway (SKVE) and two roads in Kuala Langat and Sepang for a sum of RM14.93 million. Reneuco’s unit Reneuco Engineering Sdn Bhd secured the letter of award for the project from MSA Resources Sdn Bhd. The works involve installation of fibre optic cables and provision of broadband network services along the highway. The company will also conduct telecommunication cable installation works on Jabatan Kerja Raya Malaysia (JKR) roads in Kuala Langat and Sepang.

Dagang NeXchange Bhd’s (DNeX) sub-subsidiary Innovation Associates Consulting Sdn Bhd (IAC) has secured a project from the Securities Commission Malaysia (SC) for the implementation of the Aras 2.0 onboarding and data migration platform for RM3.09 million. Under the project, IAC is tasked to implement Aras 2.0, a platform designed for the registration, licensing and authorisation processes as well as overseeing system onboarding and data migration. The project is part of the SC’s Technology and Analytics Masterplan aimed at enhancing its capabilities to navigate emerging technology risks as the capital market embraces digitalisation.

MISC Bhd has bagged a contract to supply, operate and maintain a liquefied natural gas (LNG) floating storage unit (FSU) in Pengerang, Johor with an estimated contract value of up to US$213.7 million (RM1.02 billion). The vessel operator said it has entered into a binding Heads of Agreement (HOA) with Pengerang LNG (Two) Sdn Bhd — a 65%-owned unit of Petronas Gas Bhd (PetGas) — to supply, operate and maintain the FSU.