KUALA LUMPUR (June 30): Here is a brief recap of some corporate announcements that made the news on Tuesday:
The proposed privatisation of Sealink International Bhd (KL:SEALINK) at 41 sen per share by Carimin Petroleum Bhd (KL:CARIMIN) has lapsed after Sealink’s board opted not to proceed with the scheme of arrangement. A major shareholder holding over 10% of disinterested shares opted to vote against the exercise, surpassing the blocking threshold. Sealink also weighed independent advice and asset valuations before deciding not to table the proposal. Sealink’s largest shareholder is Carimin with a 19.5% interest, followed by Yong Kiam Sam and Yong Foh Choi with a 13.92% and 9.14% interest, respectively. — Carimin's plan to privatise Sealink at 41 sen lapses after major shareholder opposition
Critical Holdings Bhd (KL:CHB) has secured a RM772.49 million engineering, procurement and construction contract to develop a high-technology industrial facility at the Kulim Hi-Tech Park, Kedah. Awarded by a US-based multinational supplying wafer fabrication equipment and services, the project includes a state-of-the-art facility with an automated storage and retrieval system (ASRS) warehouse and supporting infrastructure. Work began June 15 and is slated for completion by Dec 15, 2027. — Critical Holdings bags RM773m EPC contract from US-based multinational
Exsim Hospitality Bhd (KL:EXSIMHB) has secured a RM66.81 million contract from a related party, Dynamicz Sdn Bhd, to undertake demolition and architectural works at a Damansara Perdana development. The project, expected to conclude by Feb 2, 2027, is deemed a recurrent related-party transaction, as major shareholders Lim Aik Hoe, Lim Aik Kiat and Lim Aik Fu indirectly own Dynamicz via Exsim Development. — Exsim Hospitality bags RM67 mil demolition works contract
SNS Network Technology Bhd (KL:SNS) posted a 73.6% drop in first-quarter net profit as revenue nearly halved, impacted by product delivery timing and higher costs. For 1QFY2027 ended April 30, net profit fell to RM2.71 million from RM10.24 million a year earlier. Revenue declined 45.9% to RM445 million from RM822.75 million, with last year’s results boosted by large commercial orders. Delayed supplier deliveries also affected recognition of sales. Looking ahead, SNS is expanding retail outlets, strengthening device-as-a-service offerings and positioning AI as a growth driver through its newly launched SNS AI Factory. — Delayed product deliveries, higher costs drag SNS Network's 1Q profit down 74%
Newly listed MM Computer Systems Bhd (KL:MMCS) has secured two contracts worth RM24.54 million for server and network maintenance support. Running from July 1, 2026, to June 30, 2029, the contracts were awarded by a Main Market-listed government-linked corporation (GLC) engaged in electricity generation and distribution, whose identity was withheld pending consent. — MM Computer Systems bags RM24.5m worth of server, network maintenance contracts
Globaltec Formation Bhd (KL:GLOTEC) said its 70%-owned unit, NuEnergy Gas Ltd, has signed a US$88 million (RM358.16 million) contract with PT Beijing Energy Linking (PT BEL) to advance its coal bed methane project in Tanjung Enim, Indonesia. The deal covers drilling, construction, testing and completion of gas production until it reaches 24 million standard cu ft per day (MMSCFD). PT BEL will recover costs from future sales, easing NuEnergy’s capital burden. The contract is to last from June 30, 2026 to Aug 3, 2039. — Globaltec's unit NuEnergy signs US$88 million contract with PT Beijing Energy for Indonesia methane project
Malayan Banking Bhd (KL:MAYBANK) said its 98.52%-owned unit, PT Bank Maybank Indonesia Tbk, has secured shareholder approval to serve as the operational financial conglomeration holding company for the group’s Indonesian businesses. Approved at an extraordinary general meeting on June 29, the restructuring, aligned with Indonesia's Financial Services Authority (OJK) regulations, supports Maybank’s ROAR30 strategy and strengthens its Asean financial services presence. — Maybank Indonesia becomes financial conglomeration holding company after shareholder approval
Heineken Malaysia Bhd (KL:HEIM) has appointed Datuk Iain John Lo as chairman effective Aug 15, succeeding Datuk Seri Idris Jala after nine years on the board. Lo, with over three decades of leadership experience, spent 30 years at Shell, retiring as country chairman in 2021. He also serves on RHB Bank’s board and Sarawak’s Sovereign Wealth Future Fund. — Heineken Malaysia names Iain Lo as chairman, succeeding Idris Jala
CTOS Digital Bhd (KL:CTOS) has appointed Creador founder and CEO Brahmal Vasudevan, 57, as non-executive chairman effective July 1, succeeding Datuk Noorazman Abd Aziz, who retires having served since 2020. Creador, via Jade Vine Sdn Bhd, is CTOS’ largest shareholder with a 20.784% stake. Separately, CTOS named Datuk Iswaraan Suppiah, 62, former AmBank COO, as independent non-executive director. — Creador founder Brahmal Vasudevan appointed CTOS Digital chairman
Sunway Healthcare Holdings Bhd (KL:SUNMED) has promoted Dr Seow Vei Ken to chief medical director of Sunway Healthcare Group, while appointing healthcare industry veteran Erica Lam as CEO of Sunway Medical Centre, Sunway City Kuala Lumpur, effective July 1. — Sunway Healthcare promotes Dr Seow Vei Ken to group chief medical director, appoints Erica Lam as Sunway Medical Centre CEO
Datuk Seri Chiau Beng Teik is stepping down from the boards of several Chin Hin Group-linked companies under a planned succession exercise. Bursa Malaysia filings show he will resign as non-independent non-executive chairman of Chin Hin Group Bhd (KL:CHINHIN), Chin Hin Group Property Bhd (KL:CHGP), Ajiya Bhd (KL:AJIYA), Fiamma Holdings Bhd (KL:FIAMMA) and Signature International Bhd (KL:SIGN) effective July 1. His son Datuk Wira Chiau Haw Choon, 42, will assume executive chairmanship of these firms, while daughter Shelly Chiau Yee Wern, 35, takes executive director roles. — Chin Hin founder Chiau Beng Teik passes baton to next generation in planned succession
Puncak Niaga Holdings Bhd (KL:PUNCAK) has appointed Azlan Shah Rozali, 40, son of founder Tan Sri Rozali Ismail, as chairman and president following Rozali’s retirement as executive chairman on June 30. Rozali, 68, has been named chairman emeritus and honorary adviser to provide strategic guidance. Effective July 1, Azlan Shah’s cousin Faridatulzakiah Mohd Bakhry, 50, becomes group CEO, while his sister Nur Natasha Rozali assumes the role of chief human resources and administration officer. — Puncak Niaga appoints Azlan Shah Rozali as chairman and president as Rozali retires