KUALA LUMPUR (Nov 1): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:
Gamuda Bhd (KL:GAMUDA) has secured a RM451.4 million contract to build a data centre in Cyberjaya. The contract will cover the data centre’s foundational, civil, structural and architectural works. Works are expected to begin by December and be completed in the first quarter of 2026. The contract, a “fast-track project” awarded to a wholly-owned subsidiary of Gamuda by BCEI Malaysia Sdn Bhd, will begin to contribute in the current financial year ending July 31, 2025. Gamuda wins RM451.4m job to build data centre in Cyberjaya
Parkwood Holdings Bhd (KL:PARKWD), via its wholly-owned subsidiary Parkwood Templers Sdn Bhd, has acquired five parcels of freehold land in Rawang, totalling 32.3 acres (13.1ha), for RM30.9 million. Parkwood said it has plans to develop this cluster of land into a contemporary landed residential enclave. The development is expected to be launched by the third quarter of 2026. Parkwood buys 32-acre land in Rawang for landed residential development
YNH Property Bhd's (KL:YNHPROP) external auditor has cast doubt on the property developer’s financial statements for the financial year ended June 30, 2024 (FY2024), citing insufficient evidence for certain ventures and contracts. Morison LC PLT noted that during FY2024, certain turnkey contracts were terminated or deemed incomplete, leading to the reclassification of RM66.88 million from inventories to other receivables, with the remaining RM1.03 billion recorded as inventories. “Despite extensive audit procedures performed by us to address these developments, the outcome of the regulatory authorities' investigation remains unknown and the special independent review by the group is still pending completion,” the auditor said. YNH Property's external auditor casts doubt on FY2024 accounts
Rexit Bhd (KL:REXIT) has appointed a unit of LGMS Bhd (KL:LGMS) as an independent cybersecurity audit firm to reaffirm the company’s data security against breaches. This comes after two of the Software-as-a-Service (SaaS) provider’s major shareholders were sentenced to jail in a Singaporean court for participating in a conspiracy to illegally obtain data of over 9,000 people. Rexit said the appointment of LGMS’ wholly-owned LE Global Services Sdn Bhd serves as an additional pre-emptive measure after Rexit carried out its own internal audit — which it said is comprehensive, detailed and showed no data breaches — while its data security processes remain resilient against any threats. Rexit appoints LGMS unit as cybersecurity auditor to reaffirm data security
Techna-X Bhd (KL:TECHNA) now has until Nov 7 to submit its outstanding annual report for the financial period ended June 30, 2024, failing which the trading of its securities will be suspended the following day. The Main Market-listed company has failed to submit its annual report — including its annual audited financial statements, as well as the auditors’ and directors’ reports — to Bursa Malaysia Securities for public release within the stipulated time frame on Oct 31. When Techna-X announced via a bourse filing on Oct 29 that it would not be able to release its annual report by Oct 31, it did not disclose the reason why. Techna-X to be suspended if it fails to submit delayed annual report by Nov 7
RGT Bhd (KL:RGTBHD) said it is buying two leasehold industrial plots for RM16.8 million, located in Simpang Ampat, Penang, to set up dedicated assembly and production lines for new customers and to enhance its production efficiency. The new properties, situated within the same industrial estate — Taman Perindustrian Bukit Minyak — are expected to result in cost savings in logistics and management, said RGT. The company plans to part-finance the purchase via bank borrowings and internal funds. It expects its gearing to increase from 0.39 times to 0.5 times following the purchase. RGT buys two properties for RM16.8m to expand production capacity
Bumi Armada Bhd (KL:ARMADA) has secured a £50 million (about RM283 million) contract to provide a flare gas recovery system in the UK’s North Sea. Its wholly-owned Bumi Armada UK Ltd signed a four-year engineering, procurement, construction, installation, and modification agreement with EnQuest Heather Ltd on Oct 29 for the job. Bumi Armada clinches RM283m flare gas recovery system job in North Sea
Kimlun Corp Bhd (KL:KIMLUN) has secured a RM128.52 million contract to upgrade a portion of the Senai-Desaru Expressway, following a tender. Its wholly-owned Kimlun Sdn Bhd won the bid to upgrade the stretch of the highway from Jambatan Sg Johor (KM49.3) to Sg. Semenchu (KM58.7). The construction work is expected to be completed in the second quarter of 2027. Kimlun secures RM128.52m contract to upgrade part of Senai-Desaru Expressway
Pintaras Jaya Bhd (KL:PTARAS) has secured two piling contracts in Singapore worth about RM175 million. The contracts, which are set to commence this month, were secured through Pintary Foundations Pte Ltd, a wholly-owned unit based in Singapore. The name of the client was not disclosed. “The projects are to commence in November 2024 with construction periods of four and 30 months,” said Pintaras Jaya. Pintaras Jaya secures RM175m piling contracts in Singapore
MMAG Holdings Bhd (KL:MMAG) announced that its aviation arm MMAG Aviation Consortium Sdn Bhd (MAC) has received regulatory approval to operate a leasing business in Labuan. MMAG said MAC has obtained a letter of approval from the Labuan Financial Services Authority to establish MMAG Skyfleet Ltd, a wholly-owned entity based in Labuan dedicated to the leasing business. This approval will enable MMAG Skyfleet to engage in the leasing of aircraft and to manage the leasing of these assets within the aviation arm of the group. MMAG’s aviation arm gets nod for aircraft leasing business in Labuan