KUALA LUMPUR (Oct 13): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:
Sime Darby Bhd’s (KL:SIME) wholly owned subsidiary, Sime Darby Holdings Bhd (SDHB), has been slapped with a RM150.18 million tax bill from the Inland Revenue Board (IRB) for the 2017 to 2023 assessment years. Sime Darby said the tax bill, which includes penalties, arose after the IRB classified interest income from SDHB’s treasury activities as taxable under Section 4(c) of the Income Tax Act 1967. After consulting its tax and legal advisers, Sime Darby said it believes it has valid grounds to challenge the assessments and intends to appeal and initiate legal proceedings. — Sime Darby hit with RM150.2 mil tax bill, plans to appeal
Kelington Group Bhd (KL:KGB) has secured a RM128 million contract from an existing customer to design and build water generation and wastewater treatment systems for a data storage manufacturing facility in Kuching. The group said the contract marks the third awarded to its wholly owned subsidiary, Kelington Technologies Sdn Bhd, by a manufacturing company in the Sama Jaya Free Industrial Zone within two weeks. — Kelington wins RM128 mil contract for Kuching data storage plant, its third in two weeks
Critical Holdings Bhd (KL:CHB) said an additional RM74.1 million has been added to the value of the contract it secured from an undisclosed US-based multinational corporation to build a cleanroom facility at Kulim Hi-Tech Park in Kedah. The total contract value has now been revised up by nearly 49% to RM226.68 million from the initial RM152.59 million following a modification to its job scope. Critical Holdings got the job in May this year via its wholly owned Critical Engineering Solutions Sdn Bhd. The seven-month job, which began on May 11, is slated for completion by Dec 25. — Critical Holdings' Kulim Hi-Tech Park cleanroom job value increased by nearly 49% to RM227m
Censof Holdings Bhd (KL:CENSOF) has secured a contract worth RM10.8 million to install a financial management system at the Malaysian Cooperative Commission. The 24-month contract is scheduled to start on Nov 2, 2026. The first phase involves a 12-month development and implementation ending on Nov 1, 2027, followed by a 12-month subscription commencing Nov 2, 2027. The scope of work covers the full system implementation process, including requirements analysis, system design, setup, configuration, customisation, testing, integration, data migration, training, commissioning and maintenance. — Censof gets RM10.8 mil contract to install financial management system
Lianson Fleet Group Bhd (KL:LFG) has acquired its third Ultramax bulk carrier for US$23 million (RM93.9 million), as part of its ongoing diversification beyond its offshore support vessel business. The acquisition was made on Tuesday by LFG Cengal Ltd, a wholly owned subsidiary of Lianson Fleet, from an unrelated third-party vendor incorporated in Japan. The LFG Cengal is a 13-year-old, Japanese-built bulk carrier built in May 2013, with a deadweight tonnage of 61,446 tonnes. The vessel is equipped with five cargo holds and five cargo hatches. — Lianson Fleet buys third Ultramax bulk carrier for US$23 mil
Pantech Global Bhd (KL:PGLOBAL) is disposing of a 10-acre freehold land which it acquired less than two years ago for the expansion of its operations in Klang, for RM31.73 million in cash. The planned sale comes after regulatory delays on the development of a new factory on the site, which prompted the carbon steel pipe fittings manufacturer to acquire a different parcel of land in Klang for RM29 million in August last year under its revised development plans. About RM25.31 million of the disposal price will go towards reimbursing the purchase of the new land, while the remainder RM6.42 million will be for working capital. — Pantech Global to sell former expansion site in Klang for RM31.7 mil
HIS TIZA Pahang Sdn Bhd, a company linked to the Pahang crown prince, has entered into a share sale agreement with state government-owned Amanah Saham Pahang Bhd to acquire a 30% stake in Mentiga Corp Bhd (KL:MENTIGA) for RM21 million cash. HIS TIZA said the agreement to acquire 21 million ordinary Mentiga shares at RM1 apiece was executed on Oct 12 and will be completed in 30 market days. The transaction price is a 72.41% premium over Mentiga's market price of 58 sen, though it sits at a discount to its unaudited net assets of RM3.17 per share as of June 30. — Pahang crown prince-linked firm to buy 30% stake in planter Mentiga for RM21m
Binasat Communications Bhd (KL:BINACOM) has proposed to undertake a private placement of up to 60.43 million shares, representing not more than 10% of its total issued shares, to raise money for existing and future contracts. The shares will be placed to yet-to-be identified third party investors at a price to be determined at a later date. — Binasat proposes private placement to finance contracts
CTOS Digital Bhd (KL:CTOS) whose shares fell to a record low on Tuesday, expects its recent cybersecurity breach to reduce its financial year ending Dec 31, 2026 (FY2026) profit after tax and minority interests (Patami) by RM12 million and revenue by RM16 million. The credit reporting agency said the estimates assume some services remain unavailable until the third week of October. CTOS Score and Central Credit Reference Information System (CCRIS)-related reports remain temporarily unavailable. — CTOS estimates RM12m FY2026 profit hit from cyber breach as stock falls to record low