KUALA LUMPUR (July 16): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:
Padini Holdings Bhd (KL:PADINI) said the Malaysian Anti-Corruption Commission (MACC) has released all bank accounts belonging to the group and its subsidiaries. None of its directors, officers, employees or representatives had been arrested or charged, and neither the company nor its subsidiaries are subject to forfeiture proceedings linked to the investigation. The MACC had frozen nearly two dozen Padini accounts as part of a probe involving vendors and external counterparties. — Padini says all of its bank accounts released by MACC
Similarly, Cropmate Bhd (KL:CRPMATE) said the MACC has unfrozen the affected bank accounts of the company and its subsidiaries. None of its directors, officers, employees or representatives had been arrested or charged, and neither the company nor its subsidiaries are subject to forfeiture proceedings linked to the investigation. The accounts were frozen in April under anti-money laundering laws as part of an investigation involving about RM12.21 million in funds. — Cropmate says MACC has lifted freeze on all bank accounts linked to probe
GuocoLand (Malaysia) Bhd (KL:GUOCO) said trading in its shares will be suspended from July 30 to facilitate the selective capital reduction and capital repayment exercise for the company's privatisation by its controlling shareholder, GLL (Malaysia) Pte Ltd (GLLM). The exercise, approved by shareholders on May 29, will pave the way for the property developer's delisting from Bursa Malaysia's Main Market. — Trading in GuocoLand Malaysia shares to be suspended from July 30 ahead of delisting
Property developer MKH Bhd (KL:MKH) has appointed Kenanga Investment Bank Bhd as independent adviser in relation to Batu Kawan Bhd's (KL:BKAWAN) proposed RM2-a-share mandatory general offer (MGO) for the company. Kenanga IB will prepare the independent advice circular for the takeover offer. — MKH appoints Kenanga IB as adviser for Batu Kawan’s takeover offer
Newly-listed company Liftech Group Bhd (KL:LIFTECH) has secured a RM25 million contract from AME Elite Consortium Bhd (KL:AME) to provide a material handling system for an aerospace-related test cell facility in Sepang, Selangor. Its wholly-owned unit Liftech Engineering (KL) Sdn Bhd had accepted a letter of award from AME Construction Sdn Bhd — AME Elite’s subsidiary. — Liftech wins RM25 mil contract from AME Elite Consortium for Sepang test cell facility works
Kerjaya Prospek Group Bhd (KL:KERJAYA) is expanding into the renewable energy sector by acquiring a 9.09% stake in ES Sunlogy Bhd (KL:SUNLOGY) for RM18.76 million cash. The group subscribed for 70 million new ES Sunlogy shares via a wholly-owned subsidiary Acumen Marketing Sdn Bhd under a private placement exercise at 26.8 sen apiece. — Kerjaya Prospek buys 9.09% stake in solar player ES Sunlogy for RM18.8m
iCents Group Holdings Bhd (KL:ICENTS) said its wholly-owned subsidiary VC Engineering Sdn Bhd has secured a RM12.9 million contract to carry out renovation works for a factory, warehouse and office in the Klang Valley. The four-month contract was awarded by a Malaysian subsidiary of a Netherlands-based technology company that serves the semiconductor, medical and life sciences industries, as well as infrastructure and energy sectors. — iCents Group unit bags RM12.9 mil job from Netherlands-based tech company for renovation works
Berjaya Property Bhd (KL:BPROP) is investing RM58 million in Perlis Maritime Corridor (PMC) developer Manjaran Sdn Bhd to enter the port, logistics and energy sectors, betting the project will generate an average RM16 million in annual profit after tax over the next 20 years. Manjaran's 80%-owned subsidiary, Mutiara Perlis Sdn Bhd, is developing the PMC under an 80:20 joint venture with the Perlis state government. — Berjaya Property's RM58 mil bet on Perlis project based on RM16 mil annual profit forecast