KUALA LUMPUR (Sept 4): Here is a brief recap of some corporate announcements that made the news on Friday.
Zetrix AI Bhd (KL:ZETRIX) has terminated its proposed RM130 million share‑and‑cash deal to acquire a 50% stake in Philippines-based MyEG Ventures Inc announced three days ago. This followed queries from Bursa Malaysia on shareholding, accounting treatment, financial details, and consideration shares. Zetrix cited a review of the commercial rationale, given share price volatility for the consideration shares, as the reason for ending the agreement with Next Lion Ltd. Both parties will be released from their obligations under the agreement, with no break fees or penalties payable by either side. — Zetrix AI scraps RM130m MyEG Ventures deal amid share price volatility
In a separate announcement, Zetrix said it has disposed of its entire 16.9% stake in HeiTech Padu Bhd (KL:HTPADU), comprising 27.5 million shares, via a direct business transaction dated Sept 2. The sale by unit MyEG Capital Sdn Bhd means Zetrix AI and founder Wong Thean Soon are no longer substantial shareholders. Wong, however, retains a 0.97% direct stake in HeiTech Padu. — Zetrix AI exits HeiTech Padu after disposing of entire 16.9% stake for RM27.5 mil
BCM Alliance Bhd (KL:BCMALL) has proposed a 10‑to‑1 share consolidation, reducing issued shares from 2.03 billion to about 203.41 million, alongside plans to issue up to 30% new shares. This is its second consolidation proposal in eight months, after dropping a similar plan in January. The exercise aims to strengthen its capital structure and may help reduce share price volatility. — BCM Alliance proposes second 10-to-1 share consolidation in eight months
Sarawak Consolidated Industries Bhd (KL:SCIB) plans to buy three leasehold land parcels in Kolombong, Kota Kinabalu for RM15.2 million cash to expand its presence in Sabah. Its unit, SCIB Ecobuild Sdn Bhd, signed a deal with East Liberty Sdn Bhd for the parcels, which include six shoplots generating RM43,600 monthly rent and two undeveloped plots for future shoplots. SCIB intends to retain the units for a Sabah branch office, with completion targeted by 1Q 2027. — SCIB to buy three Sabah land parcels for RM15.2 mil to expand presence in state
Key Asic Bhd (KL:KEYASIC) has signed a 10‑year memorandum of understanding with CT Vision (International) Holdings Ltd to build a large‑scale green AI data centre in Malaysia. CT Vision, active in renewable energy and efficiency technologies, will collaborate on integrating green energy with advanced AI computing. The project aims for about 300MW IT load capacity within five years, with a design power usage effectiveness (PUE) of not more than 1.20 and at least 50% energy from green sources, generating recurring income for Key Asic. — Key Asic inks MoU to jointly develop green AI data centre
HHRG Bhd (KL:HHRG) has appointed tycoon Tan Sri Syed Azman Syed Ibrahim as executive chairman of the biomass firm, effective immediately. Syed Azman, founder of Weststar Aviation, fills a role vacant for over two years. Datuk Ammar Shaikh Mahmood Naim, who chaired HHRG after Datuk H’ng Choon Seng’s resignation in June 2024, will continue as executive deputy chairman. — Tycoon Syed Azman joins biomass firm HHRG as executive chairman
Shin Yang Group Bhd (KL:SYGROUP) will acquire an 8.316-hectare industrial site in Kuching for RM34 million via a related-party deal. It entered the deal with Forescom Plywood Sdn Bhd — a unit ultimately held by Shin Yang Holdings Sdn Bhd (SYHSB), which is also the largest shareholder of Shin Yang Group. The property is located within the industrial zone near Kuching Port, and is currently leased from Forescom. — Shin Yang Group to acquire Kuching industrial site for RM34 mil in related-party transaction
Khee San Bhd (KL:KHEESAN) and subsidiary Khee San Food Industries Sdn Bhd (KFI), along with several current and former directors, are being sued by Tunai Impian Enterprise Sdn Bhd for allegedly failing to honour a consent order tied to an RM18 million loan default. Tunai Impian seeks specific performance for KFI to execute the sale and leaseback agreements for the disputed land, or alternatively claims RM65.74 million plus 8% annual interest and other relief. — Confectioner Khee San hit with RM66m claims after land deal sours
Aumas Resources Bhd (KL:AUMAS) has reported a maiden mineral resource estimate of 110,000 ounces of contained gold for its Andrassy project in Tawau, Sabah. The project, held via wholly owned unit Wullersdorf Resources Sdn Bhd under a prospecting agreement with Aurelius Borneo Mining Sdn Bhd, covers about 18,000 hectares and is valid until July 2027. The estimate, focused on Block 1, includes 45,000 ounces at Bukit Jantung and 64,500 ounces at Bukit Ketupat. — Aumas Resources reports maiden gold estimate of 110,000 ounces in Tawau project