KUALA LUMPUR (Sept 1): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:
IHH Healthcare Bhd (KL:IHH) said India’s Delhi High Court has ordered a forensic audit into how the former Fortis Healthcare Ltd promoters, brothers Malvinder Mohan Singh and Shivinder Mohan Singh, lost their shareholding. The audit will also examine how control of Fortis subsequently changed and the roles played by the relevant stakeholders. The order, dated Aug 31, also directs an examination of the transaction through which IHH acquired a controlling stake in Fortis via its investment vehicle Northern TK Venture Pte Ltd (NTK). — Indian court orders forensic audit into Fortis shareholding, IHH acquisition
Ta Win Holdings Bhd (KL:TAWIN) said its subsidiary Ta Win Industries (M) Sdn Bhd is slashing 39 jobs or 52% of its workforce. The restructuring exercise is aimed at trimming costs, streamlining operations and enhancing its cost structure and overall financial performance to better align with current market demand. — Ta Win to slash 52% of workforce effective Sept 11
Chin Hin Group Property Bhd (KL:CHGP) has marked the structural topping out of Ayanna Resort Residences in Bukit Jalil, which is on track for unit handover in the second quarter of 2027 after achieving a 95% take-up rate. The residential development comprises two high-rise towers across 4.9 acres of freehold land, featuring 333 units in the 42-storey Block A and 491 units in the 44-storey Block B for a total of 824 units. — Chin Hin Group Property tops out 95% sold Ayanna Resort Residences
Alam Maritim Resources Bhd (KL:ALAM) has proposed to acquire an offshore support vessel for US$19.8 million (RM80.8 million) in cash to expand its subsea services capabilities in the oil and gas sector. The transaction will be carried out through its wholly owned subsidiary, Alam Maritim (M) Sdn Bhd (AMSB), which will acquire the 65-metre vessel from Singapore-based shipbuilder POET Shipbuilding & Engineering Pte Ltd, according to a bourse filing on Tuesday. — Alam Maritim to buy fifth offshore support vessel as it seeks to rebuild business after PN17 exit
Seni Jaya Corp Bhd (KL:SJC) has secured a seven-year concession to manage and commercialise advertising spaces at the Johor Bahru-Singapore Rapid Transit System (RTS Link). The concession was awarded to SJX Media Sdn Bhd, an indirect 70%-owned subsidiary of Seni Jaya, by Malaysia Rapid Transit System Sdn Bhd (MRTS) — a wholly owned unit of Malaysia Rapid Transit Corp Sdn Bhd (MRT Corp) — under an advertising concession agreement dated Sept 1. — Seni Jaya unit secures seven-year advertising concession for JB-Singapore RTS Link
VSTECS Bhd (KL:VSTECS) is cashing out of its seven-year investment in software company ISATEC Sdn Bhd for RM48.75 million as it plans to redirect capital towards larger projects in areas including artificial intelligence (AI) and data-centre infrastructure. The information and communications technology distributor is selling its entire 40% stake in ISATEC to Singapore-based Skyform Pte Ltd. — VSTECS to exit ISATEC for RM48.75 mil as it eyes core ICT expansion
Bintai Kinden Corp Bhd (KL:BINTAI) will receive RM24.7 million under a proposed settlement with Universiti Islam Melaka Bhd (UIMB) over its long-standing concession to provide student accommodation at Universiti Islam Melaka (UNIMEL). The proposed arrangement would see UIMB pay the RM24.7 million to Bintai Kinden’s wholly owned subsidiary, Optimal Property Management Sdn Bhd (OPM), comprising monthly concession payments amounting to RM14.7 million and RM10 million to recover outstanding concession arrears. — RM24.7m proposal for Bintai Kinden to exit Melaka university concession
Kee Ming Group Bhd (KL:KEEMING) has secured two subcontracts worth a combined RM40 million to provide mechanical and electrical engineering services for warehouses in Penang and Selangor. The contracts were awarded by a third-party contractor principally involved in the supply of steel structures, as well as civil engineering and building construction. — Kee Ming bags RM40 mil engineering jobs for warehouses in Penang, Selangor
MHC Plantations Bhd (KL:MHC) has declared a special dividend of 10 sen per share for the financial year ending Dec 31, 2026 (FY2026). The special dividend will be paid on Sept 28, with an ex-date of Sept 14 and an entitlement date of Sept 15, according to the plantation group in a bourse filing on Tuesday. For comparison, MHC paid total dividends of 25 sen per share for FY2025, comprising a 22 sen special dividend and a three sen interim dividend. — MHC Plantations declares 10 sen special dividend