KUALA LUMPUR (Dec 22): Here is a brief recap of some corporate announcements that made news on Friday: Leong Hup International Bhd, Jiankun International Bhd, TRC Synergy Bhd,Vestland Bhd, Malaysian Resources Corp Bhd (MRCB), Capital A Bhd, Sunview Group Bhd. 

Leong Hup International Bhd has reiterated its stand that its wholly owned subsidiary Leong Hup Feedmill Malaysia Sdn Bhd (LFM) was not involved in price-fixing practices involving poultry feed as part of a "chicken feed cartel", as alleged by the Malaysia Competition Commission (MyCC). MyCC’s finding of infringement by LFM is without merit and the group will challenge the decision. Earlier on Friday, MyCC announced that it has imposed a fine of RM157.47 million on LFM for colluding in a "chicken feed cartel" to fix poultry feed prices. LFM was one of five companies that were alleged to have been part of the cartel. The other parties include Bursa Malaysia-listed companies Malayan Flour Mills Bhd's partially owned Dindings Poultry Development Centre Sdn Bhd and PPB Group Bhd's 80%-owned FFM Bhd. The remaining two companies are Gold Coin Feedmills (M) Sdn Bhd under Gold Coin Group and PK Agro-Industrial Products (M) Sdn Bhd under Charoen Pokphand Holdings (M) Sdn Bhd, which in turn is a subsidiary of Thai conglomerate Charoen Pokphand Group Co Ltd. — Leong Hup to challenge MyCC's findings that its unit engaged in 'chicken feed cartel'

Property development and construction group Jiankun International Bhd is acquiring 99.99% equity interest in Penang-based Oriental Link Properties (M) Sdn Bhd (OLPSB) from the privately held property development company's two directors Lee Khoon Eng and Lee Phaik Choo for RM9.5 million. Khoon Eng currently holds a 99.2% stake in OLPSB and Phaik Choo 0.79%, while the remaining 0.01% is still being held by its other director Ong Cheng Tat. Jiankun said the proposed acquisition is expected to provide the group an opportunity to venture into property development in the northern part of Peninsular Malaysia and contribute positively to the group's revenue and profitability. The proposed acquisition will be funded via internal funds, it added. — Jiankun to buy Penang-based property firm to expand into northern region

Construction outfit TRC Synergy Bhd has secured a RM23.8 million contract from the Department of Irrigation and Drainage (DID) to design and build a flood mitigation dam in Gombak, Selangor. TRC Synergy said its wholly-owned subsidiary Trans Resources Corp Sdn Bhd had on Thursday received the letter of acceptance from the department.No further details of the contract were disclosed. — TRC Synergy bags RM24 mil flood mitigation dam construction job

A month after a fertiliser group became a substantial shareholder of ILB Group Bhd, Vestland Bhd managing director Datuk Liew Foo Heen has also emerged as a substantial shareholder of the rooftop solar power system provider. Fohen Holding Sdn Bhd has become a substantial shareholder of the group after acquiring 23.17 million shares or a 12.27% stake via a direct business transaction. A check with the Companies Commission Malaysia (SSM) showed that Fohen is 100%-owned by Liew, the major shareholder of construction company Vestland with a 63.33% stake. Meanwhile, ILB chief executive officer Makoto Takahashi has ceased to be a substantial shareholder of the group after he disposed of his entire 7.57% stake or 14.3 million shares for RM22.63 million on Friday. — After fertiliser group, now construction player buys into ILB Group

Malaysian Resources Corp Bhd (MRCB) has proposed to acquire the rights to carry out the development of an office tower in the PJ Sentral commercial development from the Selangor State Development Corp (PKNS), for RM270 million. The acquisition consideration will be satisfied through the disposal of malls and several residential units to PKNS, and funding through internally generated funds. MRCB said the group plans to dispose of Plaza Alam Sentral Mall and the adjoining land in Section 14, Shah Alam, to PKNS, for RM178 million. — MRCB to acquire PJ Sentral office tower development rights from PKNS for RM270 mil

Capital A Bhd is requesting another extension to submit its regularisation plan, originally due on Dec 31, 2023, now aiming for June 30, 2024. This marks the fourth time Capital A has sought a deadline extension from Bursa Securities. The initial deadline of Jan 7, 2023, was extended three times — first to July 7, then to Oct 7, and subsequently to Dec 31, 2023. Capital A triggered Practice Note 17 (PN17) criteria in July 2020 after external auditors EY issued an unqualified audit opinion with material uncertainty regarding on-going concern for its audited financial statements for FY2019. Additionally, its shareholders' equity on a consolidated basis was 50% or less of its share capital. — Capital A seeks fourth extension to submit regularisation plan 

Sunview Group Bhd said its unit is buying Mestron Holdings Bhd's 10% stake in Winstar Aluminium Manufacturing Sdn Bhd, raising the group's interest in the aluminium firm to 30%. The renewable energy group said its wholly owned indirect subsidiary, Vafe System Sdn Bhd, is buying the additional stake for RM6 million. "The solar industry is undoubtedly booming. As aluminium-related components account for approximately 10% of the total components, our stake in Winstar enables us to establish a cost-effective supply chain for aluminium mounting structures sourced from the local market for use in the solar photovoltaic system," said Sunview chief executive officer and executive director HP Ong. — Sunview’s unit ups stake in aluminium firm to 30%