Sunday 16 Mar 2025
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KUALA LUMPUR (Dec 26): Here is a brief recap of the business news and corporate announcements that made the headlines on Thursday:

Tenaga Nasional Bhd (TNB) (KL:TENAGA) announced that Peninsular Malaysia's base electricity tariff will increase to 45.62 sen per kilowatt hour (kWh) for the regulatory period 2025-2027 (RP4), effective July 1, 2025. The current rate of 39.95 sen per kwh will remain unchanged for the first half of 2025, with any cost difference covered by Kumpulan Wang Industri Elektrik (KWIE). — TNB announces higher base electricity tariff for 2025-2027, raises capex to ensure reliable supply

The utility giant also said that its unit, TNB Renewables Sdn Bhd (TRe), has been shortlisted to develop a 500MW large-scale solar photovoltaic (PV) plant in Kuala Muda, Kedah, making it Malaysia's largest LSS project to date. According to sources, other LSS5 winners include Samaiden Group Bhd (KL:SAMAIDEN), Aizo Group Bhd (KL:AIZO) and Gadang Holdings Bhd (KL:GADANG). — TNB among LSS5 winners, bags 500MW solar farm project in Kedah

Bird's nest processor MyMBN Bhd (KL:MBN) said that Malaysia's government has temporarily suspended bird's nest exports to China due to the Newcastle disease. The suspension, effective Wednesday, impacts the entire industry for both cleaned and uncleaned bird's nest products. MyMBN is shifting its sales focus to Vietnam and the local market to mitigate potential financial impacts. — MyMBN says bird's nest exports to China suspended due to Newcastle disease

The Employees Provident Fund (EPF) has once again ceased to be a substantial shareholder in YTL Power International Bhd (KL:YTLPOWR) after selling 14.93 million shares on December 20. The transaction was valued at an estimated RM61.79 million, based on the multi-utility owner and operator’s closing price of RM4.14 per share. — EPF ceases to be substantial shareholder in YTL Power

Kawan Renergy Bhd's (KL:KENERGY) co-founder and managing director, Lim Thou Lai, has reduced his stake in the company to 67.03% after selling 19.24 million shares or a 3.5% stake for RM12.31 million, or 64 sen apiece. The sale was priced at a 10.49% discount to the closing price of 71.5 sen and a 113.33% premium to the IPO price of 30 sen. Lim remains the sole substantial shareholder with 368.66 million shares. — Kawan Renergy MD Lim Thou Lai trims stake to 67%

Builder Taghill Holdings Bhd (KL:TAGHILL) said that its unit, Siab (M) Sdn Bhd, has received a RM2.59 million adjudication claim from subcontractor Landasan Angkasa Sdn Bhd over a completed warehouse project. The claim disputes Siab (M)’s defence of set-off against liquidated ascertained damages. — Taghill unit faces adjudication claim from subcontractor

Boustead Heavy Industries Corp Bhd (KL:BHIC) has appointed former Royal Malaysian Air Force (RMAF) chief Tan Sri Roslan Saad as its independent non-executive chairman, filling a position vacant since former navy chief Tan Sri Ramlan Mohamed Ali resigned in June 2021. Roslan previously served as RMAF chief until 2016. — Boustead Heavy Industries names ex-air force chief as chairman

Sabah-based oil palm and cocoa planter Teck Guan Perdana Bhd (KL:TECGUAN) said net profit in its third quarter ended Oct 31, 2024 (3QFY2025) fell 34.3% to RM2.39 million from RM3.64 million a year ago, on lower revenue and a net loss on forward currency contracts amounting to RM4.33 million. Revenue dropped by a quarter to RM68.37 million from RM91.25 million in 3QFY2024 due to lower sales volume. The group did not announce any dividend for the quarter. — Teck Guan's 3Q net profit falls 34% on lower revenue, loss on forward currency contracts

CCK Consolidated Holdings Bhd (KL:CCK) has declared a five sen per share special dividend for FY2024, its highest in 11 years, amounting to RM31.05 million. The dividend will be paid on Jan 22, 2025. — CCK Consolidated declares first-ever special dividend of five sen

Construction outfit Lebtech Bhd (KL:LEBTECH) has been appointed by Affizal Resources to collaborate on water works in Selangor valued at RM10.8 million through its subsidiary. The project begins in 1Q2025 and is expected to boost its earnings for FY2025. — Lebtech to collaborate on water works worth RM10.8m

Southern Cable Group Bhd (KL:SCGBHD) has secured a RM172.57 million contract from an undisclosed client in East Malaysia to supply cables and conductors. The contract, awarded to its wholly-owned subsidiary Southern Cable Sdn Bhd, spans from Dec 20, 2024, to Dec 19, 2026. This latest win boosts its outstanding order book to RM871.87 million. — Southern Cable gets RM173m supply contract

Edited ByAdam Aziz
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