KUALA LUMPUR (May 12): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:
Carimin Petroleum Bhd (KL:CARIMIN) has proposed to privatise Sealink International Bhd (KL:SEALINK) in a cash deal worth about RM165 million. Carimin, which already owns a 19.5% stake in Sealink or 97.5 million shares, plans to buy the remaining 80.5% stake, equivalent to 402.5 million shares, at 41 sen per share through a scheme of arrangement. The offer price represents a 20.6% premium over Sealink’s last traded price of 34 sen. Sealink’s board has until May 26 to revert to Carimin with its decision on whether to put forward the proposed privatisation to shareholders. — Carimin proposes RM165 mil privatisation of Sealink at 41 sen a share cash offer
Inari Amertron Bhd (KL:INARI) reported that a fire broke out at one of its manufacturing plants in the Philippines and may cause losses of up to US$5 million (RM21.3 million). The fire occurred at its wholly-owned subsidiary, Amertron Incorporated, on May 10 at about 2.30pm. — Inari Amertron reports fire at Philippine facility, losses may reach US$5 mil
UOA Development Bhd (KL:UOADEV) said its proposed RM200 million disposal of three properties in the UOA Business Park to UOA REIT (KL:UOAREIT) has been called off after unitholders did not approve the deal. The condition precedent under the sale and purchase agreements was not met following the adjourned unitholders’ meeting on April 29, resulting in the rescission of the agreements. — UOA REIT unitholders reject RM200m business park asset buy from UOA Development
Petroliam Nasional Bhd (PETRONAS), through its unit PETRONAS LNG Ltd (PLL), has signed a 20-year time charter agreement with MISC Bhd (KL:MISC) for five new 174,000-cubic metre liquefied natural gas (LNG) carriers. PETRONAS said vessels will be built by China’s Hudong-Zhonghua Shipbuilding (Group) Co Ltd in Shanghai following shipbuilding contracts finished earlier this year by MISC. Under the agreement, charter operations are scheduled to begin between 2029 and 2030. — PETRONAS signs 20-year time charter contract with MISC for five new LNG vessels
iCents Group Holdings Bhd (KL:ICENTS) said its wholly-owned VC Engineering Sdn Bhd has bagged a RM34.54 million job to undertake subcontract works for a data centre project. The subcontract works were awarded by an unnamed local construction company, with the project expected to be completed by Feb 15, 2027. — iCents bags RM34.5m air-conditioning, ventilation subcontract for data centre
DKSH Holdings (Malaysia) Bhd (KL:DKSH) saw a marginal 2.9% increase in its first-quarter net profit despite a record-high RM2.35 billion in sales, as rising operational costs and currency headwinds ate into its margins. The specialised distribution group reported a net profit of RM49.56 million for its first quarter ended March 31, 2026 (1QFY2026), up from RM48.17 million in 1QFY2025, as revenue grew 6.1% to RM2.35 billion from RM2.22 billion. — DKSH Malaysia’s revenue hits record RM2.35b, but costs squeeze 1Q profit growth
Teo Seng Capital Bhd’s (KL:TEONSENG) net profit dropped 64% to RM14.75 million in 1QFY2026 from the RM41.12 million it made a year earlier mainly due to the absence of the egg subsidy scheme. This was despite revenue rising more than 9% to RM184.6 million from RM168.6 million on higher egg sales volume and stronger contribution from animal health products. — Teo Seng Capital to expand premium egg portfolio as 1Q profit drops over 60% after subsidy removal
Orkim Bhd (KL:ORKIM) posted a net profit of RM24.11 million on the back of a RM88.08 million revenue for 1QFY2026, driven by stable fleet utilisation of 92% and steady contributions from existing charter and freight arrangements. — Orkim posts RM24m profit for 1Q, sees limited impact from global shipping risks
Pekat Group Bhd (KL:PEKAT) has inked a 15-year power purchase agreement (PPA) worth RM23.04 million with Dutch Lady Milk Industries Bhd (KL:DLADY) to develop and operate a rooftop solar photovoltaic (PV) system at the dairy producer’s facility in Negeri Sembilan. Its indirect wholly-owned unit, Pekat Solar Sdn Bhd, will design, build, own and maintain a 3,960.13 kilowatt-peak (kWp) at Dutch Lady’s Bandar Enstek plant in Nilai. The system is expected to commence commercial operations in the fourth quarter of 2026, supplying renewable energy to Dutch Lady throughout the concession period. — Pekat signs RM23m rooftop solar deal with Dutch Lady
Meta Bright Group Bhd (KL:MBRIGHT) has inked a 20-year deal to install a solar photovoltaic (PV) system with a capacity of 43.66 kilowatt-peak (kWp) at a surau in Pahang. The property developer and hospitality player, which has diversified into renewable energy, announced that its wholly-owned unit FBO Land (Setapak) Sdn Bhd had executed a supply agreement with Tenaga Nasional Berhad (KL:TENAGA) and Surau Perumahan PASDEC II Indera Mahkota to implement the solar PV system at the premises. — Meta Bright inks 20-year deal to install solar PV system at Pahang surau