KUALA LUMPUR (Oct 2): Here is a brief recap of some business news and corporate announcements that made headlines on Friday.
Gas Malaysia Bhd (KL:GASMSIA) aims to make a final investment decision on plans for its first regasification terminal by the second half of next year. The facility to be built in Yan, Kedah, is due to come online by the end of 2030, its chief executive said. The proposed terminal, announced in March, is being jointly developed with Japan's Tokyo Gas and Dutch group VTTI at an estimated cost of between RM2 billion and RM3 billion (US$490 million to US$735 million). — Gas Malaysia targets investment decision on Kedah LNG terminal by second half of 2027
PETRONAS Chemicals Group Bhd (KL:PCHEM) announced on Friday that its chief executive officer Mazuin Ismail will retire effective Jan 1, 2027. Izwan Ismail, 51, has been appointed to replace him. Mazuin, 58, who also serves as the company’s managing director, assumed the role in January 2024. He has spent his entire 35‑year career within the PETRONAS Group. — PETRONAS Chemicals announces CEO's retirement, Izwan Ismail to take over effective Jan 1, 2027
A unit of troubled builder TXCD Bhd (KL:TXCD) has secured a RM110 million subcontract from Vestland Resources Sdn Bhd to build a 62-storey Sovo commercial development in Section 44, Kuala Lumpur. The contract's value is about 1.8 times TXCD’s market capitalisation of RM62.3 million as at Friday’s close. TXCD's indirect wholly-owned subsidiary Ageson Kensetsu Sdn Bhd on Friday accepted the letter of award from Vestland Resources, a wholly-owned subsidiary of Vestland Bhd (KL:VLB). Work has commenced and is slated to end by Dec 31, 2028. — PN17 builder TXCD lands RM110m subcontract from Vestland
Berjaya Hills Resort Bhd, part of Berjaya Corp Bhd (KL:BJCORP), said the enforcement on its properties by Pahang authorities was “unconscionable and totally unacceptable”. The action, taken amid dispute over a sharp jump in quit rent, was also “unreasonable” and impinges on Berjaya Hills’ legitimate expectation to carry on its business and operations in a peaceful manner, the company said in a statement following forfeiture of premises on Sept 28. The group has secured an interim stay from the court and is seeking leave from the Federal Court to argue its case. — Berjaya calls enforcement on its hill resort ‘unconscionable and totally unacceptable’ amid quit rent hike dispute
The Road Transport Department (JPJ) will suspend MyEG Sdn Bhd and Zetrix AI Bhd (KL:ZETRIX), both under MYEG Group, as its collection agents effective 12.01am next Monday. JPJ said the decision was made after taking into account the companies’ compliance with the terms and conditions of their agreements, as well as outstanding obligations that have yet to be fulfilled or settled. — JPJ suspends MYEG Group’s services as collection agent from Oct 5
Country Heights Holdings Bhd (KL:CHHB) said its 80.90%-owned subsidiary Golden Horse Palace Bhd (GHPB) has been served with a winding-up petition over two outstanding Industrial Court awards involving RM312,653. GHPB operates the luxury Palace of the Golden Horses hotel at The Mines. It is a major subsidiary of Country Heights, in which the group’s total investment stands at about RM219 million. — Palace of the Golden Horses operator served winding-up petition over industrial court award claim
The Securities Commission Malaysia (SC) has approved construction firm Lim Seong Hai Capital Bhd’s (KL:LSH) transfer of its listing to the Main Market from the ACE Market. The slated transfer comes a year and a half after LSH transitioned from the LEAP Market in March 2025. It was listed on the LEAP Market in July 2021. — SC approves Lim Seong Hai Capital’s transfer to Main Market
Mah Sing Group Bhd (KL:MAHSING) has signed a collaboration term sheet with Kinergy Advancement Bhd (KL:KINERGY) to provide technical advisory and evaluate power infrastructure for its proposed data centre developments. Through its wholly owned subsidiary Garden Vista Development Sdn Bhd, Mah Sing entered into the non-binding and non-exclusive agreement with Kinergy to assess captive power plant options and Corporate Renewable Energy Supply Scheme (CRESS) frameworks for its sites at Southville City in Bangi, Selangor, and Meridin East in Pasir Gudang, Johor. — Mah Sing partners Kinergy to evaluate energy solutions for data centre pipeline