KUALA LUMPUR (July 6): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:
Sime Darby Property Bhd (KL:SIMEPROP) is acquiring Wisma Unirazak in Kuala Lumpur for RM160 million cash in a related-party transaction, which it plans to turn into a premium, mixed-use development with an estimated gross development value of RM900 million. The project is targeted to be launched in 2028 and expected to be completed in five years. The acquisition will be undertaken by its wholly owned Sime Darby Property (KLGCC Resort) Sdn Bhd, which has accepted a binding letter of offer issued by the vendor, Permodalan Nasional Bhd (PNB). — Sime Darby Property acquires Wisma Unirazak for RM160m, plans RM900m GDV development
Construction and property company WCT Holdings Bhd (KL:WCT) has secured a subcontract worth 836 million dirham (RM926.21 million) for a residential development project in the United Arab Emirates (UAE). The subcontract involves the construction of six residential buildings in Abu Dhabi, each comprising 11 storeys and a common basement, under the Yas Riva Residences works package developed by Aldar Development LLC-OPC. Construction is scheduled to commence in the third quarter of 2026 and is expected to be completed within three years and four months. — WCT secures second construction job in Abu Dhabi within three weeks
Danish brewery firm Carlsberg will receive US$643 million, or about RM2.62 billion, from Japan's Sapporo Breweries for a 25% stake in a new joint venture spanning Southeast Asia and Hong Kong. Carlsberg will hold a 75% stake and operational control of the venture that will combine its existing businesses in Malaysia, Singapore, Hong Kong, Laos, Vietnam and Cambodia. The venture will also hold perpetual exclusive rights to produce and distribute Sapporo Premium Beer across the markets. The announcement was released in a statement and also separately filed by Carlsberg Brewery Malaysia Bhd (KL:CARLSBG). — Sapporo Breweries to invest US$643m in Carlsberg SE Asia venture for 25% stake
Berjaya Property Bhd (KL:BPROP) has partnered with China-based Wanli Tire Co Ltd to set up a RM1.3 billion automotive tyre manufacturing plant in Selangor. Of the total funding of RM1.3 billion, RM813.35 million will be funded through equity contributions by Berjaya Property’s wholly owned unit, Alam Baiduri Sdn Bhd (ABSB), and Wanli Tire's unit Trusmax Investment Co Ltd. The remaining RM491.45 million will be financed via borrowings. — Berjaya Property teams up with China's Wanli Tire for RM1.3b plant in Selangor
Hibiscus Petroleum Bhd (KL:HIBISCS) has achieved first oil at its 100%-owned Teal West field in the UK’s North Sea. The field achieved an initial daily output of about 6,000 barrels, within the expected start-up range of 4,000 to 10,000 barrels. The rate is expected to increase progressively once operating conditions stabilise after well optimisation. — Hibiscus Petroleum achieves first oil at Teal West field in UK North Sea
BM Greentech Bhd’s (KL:BMGREEN) wholly owned subsidiary Plus Xnergy Holding Sdn Bhd has acquired 100% equity interest in NEFIN V Power Sdn Bhd (NVP) for RM3.6 million via two sale and purchase agreements. NVP is a special purpose vehicle with the rights to develop a 29.99 MWac solar photovoltaic farm under the Corporate Green Power Programme. The entity is expected to generate an average of 60,000 megawatt-hour (MWh) of solar energy annually. — BM Greentech acquires NEFIN V Power for RM3.6 mil, expanding into utility-scale solar
Financially troubled rubber glove maker Careplus Group Bhd (KL:CAREPLS) is selling a property in Seremban for RM42 million, as part of its plan to fund its new energy vehicle venture. The property comprises 40,680 square metres of land together with a single-storey retail complex with a mezzanine floor. More than 65% of the disposal proceeds will be used to fund the ongoing construction of the group's new energy vehicle manufacturing and assembly hub in Chembong, Negeri Sembilan. — Cash-strapped Careplus to sell Seremban land for RM42 mil to fund new energy vehicle venture
Sarawak-based plantation company Rimbunan Sawit Bhd (KL:RSAWIT) is assessing the operational and financial impact of a disruption at its Ulu Teru Estate in Miri, following a blockage of the estate's main access route. Access to the estate, operated by subsidiary PJP Pelita Ulu Teru Plantation Sdn Bhd, has been disrupted since June 18. As a result, harvesting activities, transportation of fresh fruit bunches, and certain estate operations have been affected. — Rimbunan Sawit says harvesting, transport disrupted at Sarawak estate
Asdion Bhd (KL:ASDION) is set to be suspended from trading on July 14 and delisted on July 16 after failing to appoint a replacement sponsor for its proposed Guidance Note 3 regularisation plan. The ACE Market-listed company did not appoint a new sponsor following the resignation of Kenanga Investment Bank Bhd as its principal adviser and sponsor, nor did it apply for an extension of time to do so. The exchange said Asdion may appeal against the delisting by July 13, failing which its shares will be removed from Bursa Malaysia's official list on July 16. — Asdion to be suspended, delisted after failing to appoint new GN3 sponsor
Edited ByTan Choe Choe
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