KUALA LUMPUR (Jan 17): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

CIMB Group Holdings Bhd (KL:CIMB) on Friday announced a restructuring of its senior leadership team, marked by the departure of key executive Effendy Shahul Hamid and the decoupling of its consumer and digital banking business. The changes, to take effect on Feb 1, aims to sharpen focus on strategic business areas and ensure operational efficiency. Effendy Shahul, chief executive officer of group consumer and digital banking, is stepping down to pursue other interests. He will remain as adviser to the group CEO until the end of June this year to facilitate a smooth leadership transition. The reorganisation also sees the separation of the group's consumer and digital banking business into two distinct units, with Haniz Nazlan, previously CIMB's group chief strategy officer, assuming the role of CEO for consumer banking. Gurdip Singh Sidhu, currently CEO of CIMB Malaysia and CIMB Bank Bhd, will now also oversee CIMB’s digital business, including Touch ‘n Go, TNG Digital, CIMB Philippines and CIMB Vietnam. — CIMB makes key leadership changes, decouples consumer and digital banking business

Berjaya Corp Bhd (KL:BJCORP) remains committed to participating in the Kuala Lumpur-Singapore high-speed rail (HSR) project. However, the project’s progression depends on the government's decision-making process and financial conditions, said the group's founder Tan Sri Vincent Tan Chee Yioun. “We tried to be in the consortium, but the government is still tidak tentu (undecided on the railway project),” he said. “The HSR is a costly project…as a responsible government, they should carefully evaluate the country’s financial situation before committing to such significant spending,” he added. — Berjaya still eyeing KL-S'pore HSR, awaiting Putrajaya's decision, says Vincent Tan

Mitrajaya Holdings Bhd (KL:MITRA) said it has secured a RM375.5 million contract for the construction of a data centre in Kuala Lumpur. The construction group said the contract was awarded by NEXTDC Sdn Bhd, the Malaysian unit of Australia's data centre operator NEXTDC Ltd. The contract, awarded to its wholly owned subsidiary Pembinaan Mitrajaya Sdn Bhd, is expected to contribute positively to the group's earnings and net assets for the financial years ending Dec 31, 2025 and 2026, said Mitrajaya. — Mitrajaya clinches RM376 mil contract for data centre construction in KL

HeiTech Padu Bhd (KL:HTPADU) has secured a second-time contract extension for the provision of maintenance services for the Malaysian Immigration System (MyIMMs), valued at RM28.26 million. The two-year extension will commence on Feb 18, 2025, and runs until Feb 17, 2027. Any further renewal or extension remains at the government’s discretion, the company said.  Meanwhile, Datasonic Group Bhd (KL:DATASONIC) has secured a fresh contract from the Home Ministry for the maintenance of the facial live capture (FLC) system at Immigration Department offices. The RM6.37 million contract, awarded to its wholly-owned subsidiary Datasonic Technologies Sdn Bhd, covers the maintenance of equipment, software and applications for the FLC system for a 36-month period from Feb 25, 2025. — HeiTech Padu, Datasonic awarded fresh contracts for immigration system maintenance

Petronas Gas Bhd’s (KL:PETGAS) wholly-owned subsidiary Regas Terminal (Pengerang) Sdn Bhd (RGTP) has executed and completed a share subscription agreement with Dialog Equity (Three) Sdn Bhd (DE3SB) for the development of Malaysia’s first liquefied natural gas (LNG)-driven air separation unit (ASU) in Pengerang, Johor. Under the shareholder agreement, DE3SB, a wholly-owned unit of Dialog Group Bhd (KL:DIALOG), will subscribe to 27.78% of shares in RGTP by acquiring 500 ordinary shares for RM500,000, and 9,724 redeemable preference shares for RM9.7 million. The project will be developed based on a design, build and lease model, where the ASU will be constructed and leased to a qualified and experienced industrial gas market operator for a 25-year period. In return, RGTP will generate a consistent revenue stream through fixed monthly facility charges paid by the operator. The final investment decision on the ASU project was obtained in December 2023, with the target commercial operation date in November 2026. The total awarded engineering, procurement, construction and commissioning (EPCC) cost is RM368 million, Petronas Gas said. — Dialog to partake in Petronas Gas' LNG-driven air separation unit project

Hong Leong Bank Bhd (KL:HLBANK) said on Friday it has signed an agreement to cooperate with WeBank Technology Services, a subsidiary of WeBank, China's largest digital bank, as it aims to raise its operational efficiency and leverage artificial intelligence (AI). Hong Leong Bank will also leverage WeBank Technology Services’ expertise in AI to develop automation tools and applications, boosting its salesforce and operational teams. The technology would then be aimed at extending capabilities across data systems, marketing and campaign management, further improving the bank’s offerings and financial solutions. — Hong Leong Bank to work with China's WeBank Technology Services on fintech, AI

JF Technology Bhd (KL:JFTECH) co-founder and managing director Datuk Foong Wei Kuong continued to mop up shares in Cosmos Technology International Bhd (KL:COSMOS) from MSM International Ltd. According to a bourse filing on Friday, Foong bought another 14.36 million shares or an additional 5.6% stake in Cosmos from MSM, raising his stake in the integrated water solutions provider to 17.95% from 12.35%. Bloomberg data showed that the latest transaction was done at 39.4 sen per share, the same price at which Foong purchased two blocks of Cosmos shares in December last year. — JF Tech MD lifts Cosmos stake by 5.6%

Bird's nest processor MYMBN Bhd (KL:MBN) said on Friday that the Department of Veterinary Services Malaysia has lifted the temporary suspension of exports of both raw-cleaned edible bird’s nest (RCEBN) and raw-uncleaned edible bird’s nest (RUCEBN) products to China after nearly one month. This is expected to bring major relief to MYMBN, given that China is a primary market for the group. MYMBN said the department has issued a press notice for the resumption of exports for both RCEBN and RUCEBN products to China. MYMBN was notified of the temporary suspension by the department on Dec 25, 2024, after the Newcastle disease virus was detected among poultry, aviary and wild birds in Malaysia, as reported by the World Organisation for Animal Health. The suspension was applied to the whole industry for both RCEBN and RUCEBN products. — Malaysia to resume edible bird's nest exports to China under new protocol — govt dept

Upholstery furniture manufacturer Homeritz Corp Bhd (KL:HOMERIZ) said on Friday that the fire at one of its production facilities in Muar, Johor, has been confirmed to result in an estimated loss of RM3 million, and will be recognised in the company’s financial results for the quarter ending Feb 28, 2025 (2QFY2025). Homeritz confirmed that the fire, which occurred last month, was caused by a spark from a switch at the duct conveyor spray booth. The affected facility, owned by its wholly-owned subsidiary Embrace Industries Sdn Bhd (EISB), had been repurposed as a temporary spraying line in 2024 after previously being used for storage. "None of the workers were injured and no casualties resulted from the incident," it said.  The company disclosed that the affected assets were not covered by insurance at the time of the incident, as the fire insurance policy had expired on Oct 12, 2024. — Homeritz hit by RM3 mil loss in Muar facility fire, no insurance coverage