KUALA LUMPUR (Jan 6): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:
Gateway Development Alliance (GDA), the consortium proposing to privatise Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT), has extended the closing time and date for the acceptance of its takeover offer to 5pm on Jan 17, 2025, from 5pm on Jan 8, 2025, previously. Besides the extended closing date, all other details, terms and conditions of the takeover offer as set out in the initial offer document, including the offer price of RM11 per share, and the acceptance condition of 90% of the total issued MAHB shares, remain unchanged. GDA — comprising the Employees Provident Fund (EPF), Khazanah Nasional Bhd, the Abu Dhabi Investment Authority (ADIA) and Blackrock Inc-backed Global Infrastructure Partners (GIP) — has already held 70.1% in MAHB as at 5pm on Jan 6. On top of that, a total of 94.3 million shares, representing 5.65% stake, has also been transferred to the offerors but pending receipt of the acceptance document. Including this portion, GDA has effectively held 75.73% of the total issued shares in MAHB. — GDA extends closing time for acceptance of MAHB takeover offer by more than a week
Cafe chain operator Oriental Kopi Holdings Bhd set its initial public offering (IPO) price at 44 sen apiece in a share sale that would raise RM183.96 million ahead of its listing on the ACE Market. At the IPO price, Oriental Kopi is expected to have a market capitalisation of RM880 million upon listing and value the company at about 20 times its earnings for the financial year ended Sept 30, 2024 (FY2024). Applications will close on Jan 10, and listing has been scheduled for Jan 23. — ACE Market-bound Oriental Kopi to raise RM184 mil, sets IPO price at 44 sen
Construction outfit Kerjaya Prospek Group Bhd (KL:KERJAYA) has bagged a RM256.4 million contract from Eastern & Oriental Express Sdn Bhd (E&OE) to undertake construction works in Elmina West, Shah Alam, Selangor. Kerjaya Prospek said the scope of the project, clinched through its wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd, includes the construction of 360 units of three-storey terrace houses, alongside a clubhouse, landscaping works, and other related infrastructure. The project will be delivered in three phases, with construction slated to begin on Jan 20, and due for completion within 26 months. — Kerjaya Prospek wins first job in 2025 — RM256m contract in Shah Alam for E&O’s unit
Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM65.68 million residential construction contract in Sungai Buloh, Selangor. Its wholly owned subsidiary, Kitacon Sdn Bhd, accepted the letter of award from KL-Kepong Country Homes Sdn Bhd on Monday for the construction and completion of bungalows located at Lot 851, Precinct 4C1, Bandar Seri Coalfields. The project is slated to be completed within 20 months, starting from the commencement date on Feb 3. — Kumpulan Kitacon bags RM66 mil residential project in Sungai Buloh
Offshore oil and gas services provider T7 Global Bhd (KL:T7GLOBAL) announced on Monday it has bagged a contract to undertake maintenance, construction and modification (MCM) services for an undisclosed value. The contract was awarded to its wholly owned subsidiary, Tanjung Offshore Services Sdn Bhd, by Carigali Hess Operating Company Sdn Bhd. The contract, dated Dec 19, 2024, will commence on Jan 15, 2025, for an initial duration of three years, with an option to extend for an additional two years. — T7 Global secures maintenance, construction and modification services contract
Aizo Group Bhd (KL:AIZO), formerly known as Minetech Resources Bhd, has been selected to develop a 99.99MW large-scale solar photovoltaic plant in Kampar, Perak. The project has been awarded to Wawasan Demi Sdn Bhd (WDSB), a 63%-owned subsidiary of Coral Energy Sdn Bhd, which is a wholly owned unit of Aizo. Aizo said the project will be executed under a solar power purchase agreement with a 21-year tenure, and is expected to reach its commercial operation date by Oct 30, 2027. — Aizo selected by EC to develop 99.99MW solar plant in Perak
Oil and gas services firm Keyfield International Bhd (KL:KEYFIELD) is acquiring a five-year-old platform supply vessel for US$17.6 million (RM79.2 million). It is funding the acquisition through proceeds from the company's sukuk issuance, with an additional US$2 million to be drawn from internal funds for capital expenditure to bring the vessel back to Malaysia and prepare it for operations. Keyfield’s wholly owned Keyfield Offshore Sdn Bhd (KOSB) signed an agreement with Sinocommerce Harbour Engineering Co Ltd to acquire the vessel, which will be renamed Keyfield Gratitude. — Keyfield acquires platform supply vessel for US$17.6 mil
Citaglobal Bhd (KL:CITAGLB) has acquired a 55% equity stake in Germany’s LAWI Engineering GmbH (LAWI Germany), as part of a partnership to provide advanced waste-to-energy (WTE) technology and engineering solutions for waste management projects. The acquisition, fully paid on Jan 3, 2025, involves the subscription to 31,778 new ordinary shares in LAWI Germany via Citaglobal's wholly owned subsidiary, Citaglobal Environment Management Sdn Bhd (CGEM). However, the value of the investment was not disclosed. Following the stake acquisition, LAWI Germany will operate as a 55%-owned subsidiary of CGEM. Dieter Langer, the sole shareholder and director of LAWI Germany prior to the investment, retains the remaining 45% equity stake. — Citaglobal acquires 55% stake in waste-to-energy partner LAWI Germany for undisclosed value
D&O Green Technologies Bhd (KL:D&O) said its 93.2%-owned subsidiary Dominant Electronics Sdn Bhd (DESB) has signed a memorandum of understanding (MOU) with Jing Wei Hirain Automotive Electronics Malaysia Sdn Bhd to establish a new operating company in Malaysia focusing on engineering services and automotive module production. Jing Wei Hirain is the Malaysian subsidiary of Beijing Jingwei Hirain Technologies Co Inc, which is listed on the STAR Market of the Shanghai Stock Exchange. The company specialises in developing and manufacturing automotive electronics products. D&O said the new company will function as a subsidiary of DESB. Its primary focus will include engineering services and the design, production, and sale of automotive modules for potential global markets. The parties plan to finalise the collaboration and incorporate the new company within 90 days of the MOU signing. — D&O unit signs MOU with China-listed Beijing Jingwei Hirain Technologies for automotive module business in Malaysia