KUALA LUMPUR (March 8): Here is a brief recap of some corporate announcements that made the news on Friday.
Plastic products manufacturer Scientex Bhd is set to acquire land in Batang Berjuntai, Kuala Selangor, for a total of RM335.68 million to enhance its property development land bank. The group proposed to build a mixed-use development on the acquired land. Scientex disclosed that its wholly owned subsidiary Scientex Park (M) Sdn Bhd has entered into a conditional sale and purchase agreement with Metalplex Plantation Sdn Bhd for the proposed acquisition of a parcel of freehold land measuring 826 acres. — Scientex to buy land in Kuala Selangor for RM336m to build mixed-use development
IHH Healthcare Bhd has completed the acquisition of the entire equity interest in Bedrock Healthcare Sdn Bhd (BHSB), the owner of Timberland Medical Centre in Kuching, Sarawak, for RM245 million on a cash-free debt-free basis. This acquisition was made through IHH's indirect wholly owned subsidiary Pantai Holdings Sdn Bhd, which entered into a share purchase agreement with Saravita Holdings Sdn Bhd and nine individual founders, securing the complete equity interest in Bedrock Healthcare. — IHH Healthcare completes acquisition of Timberland Medical Centre for RM245m
Barakah Offshore Petroleum Bhd is seeking upfront approval from shareholders to sell its Kota Laksamana 101 barge at a minimum US$11.4 million (RM54.18 million) cash, to a third-party purchaser to be identified later. The group’s circular to shareholders on Friday is asking for a mandate for it to dispose of the barge within a six-month timeframe. — Barakah Offshore seeking shareholders’ upfront approval to sell Kota Laksamana 101 barge within six months
Yinson Holdings Bhd has issued RM640 million in nominal value of Islamic notes as part of its RM1 billion perpetual sukuk wakalah programme established in 2022. The sukuk wakalah is rated A3 by RAM Rating Services Bhd and A-IS by MARC Ratings Bhd, the floating, production, storage and offloading (FPSO) contractor. The proceeds raised from the sukuk issuance will be utilised for the group's shariah-compliant purposes, comprising capital expenditures, refinancing of existing financing or borrowings or future financing, working capital and other general corporate purposes. — Yinson issues sukuk wakalah worth RM640 mil
Perdana Petroleum Bhd announced that its wholly owned subsidiary Perdana Nautika Sdn Bhd has accepted letters of award from Dayang Enterprise Sdn Bhd (DESB) to charter one unit of anchor handling tug and supply (AHTS) vessel and one unit of accommodation work barge (AWB) worth RM13.4 million. The estimated value of these charters (without the extension period), effective March 1, is RM4 million for the AHTS vessel and RM9.4 million for the AWB unit. The commencement date for the charters is March 1, 2024, with a duration of 110 days and an option to extend for an additional 50 days. — Perdana Petroleum secures vessel charter contracts from Dayang Enterprise
Samaiden Group Bhd has inked a 20-year power purchase agreement with Maxell Tohshin (Malaysia) Sdn Bhd to undertake the design and installation of an advanced solar photovoltaic system, with a capacity of 1,028.28-kilowatt peak (kWp) at Maxell Tohshin's premises. The project is expected to significantly curtail carbon emissions from manufacturing operations, projecting an estimated carbon dioxide avoidance of 974.66 tonnes per year. — Samaiden inks 20-year solar energy power purchase agreement with Maxell Tohshin
Varia Bhd, formerly known as Stella Holdings Bhd, has signed a memorandum of understanding with Sungai Klang Link Sdn Bhd to offer its expertise in assisting the preparation, management, control, and execution of works for the proposed Sungai Klang Link (SKL) elevated highway. SKL is a special-purpose vehicle established to finance, design, construct, operate and manage the proposed development of SKL elevated highway — which is set to provide alternative routes for road users in the Klang Valley. SKL is now at an advanced stage of pursuing the final approval of securing the concession agreement from the government for the right to build, manage, own and operate the SKL elevated highway project. — Varia offers Sungai Klang Link expertise for SKL elevated highway project
Two of Top Glove Corp Bhd directors have stepped down from the world's largest glovemaker's board effective immediately, namely Datuk Lee Kim Meow and Rowina Ghazali Seth. Top Glove said Datuk Lee Kim Meow, its non-independent and non-executive director has stepped down due to personal commitment. Separately, Top Glove independent and non-executive director Rowina Ghazali Seth resigned on the same day, after sitting in that position for more than a year since Jan 2023. — Top Glove sees departure of two board members
Mohamed Iqbal Abdul Rahman has retired as Pharmaniaga Bhd chief operating officer effective immediately, ending his 13-year tenure with the company. Iqbal joined the pharmaceutical outfit back in 2011 as director of information technology before being promoted to COO in 2012. Iqbal led initiatives such as implementation of business intelligence systems and robotic process automation. He played a crucial role in implementing the Pharmacy Information System in over 1,200 Ministry of Health facilities. — Pharmaniaga COO Mohamed Iqbal Abdul Rahman retires after 13 years