KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Gamuda Bhd
said its joint venture to build the Ulu Padas hydroelectric project has been approved by the Sabah energy regulator.
Varia Bhd has secured a subcontract for flood mitigation works worth RM334.7mn. The contract was awarded to its wholly-owned Pembinaan Teguh Maju Sdn Bhd, by Ikatan Harmoni Sdn Bhd, to build a flood control reservoir in Kota Tinggi, Johor.
The Malaysian Anti-Corruption Commission confirmed that it has initiated a probe against YTL Communications Sdn Bhd, saying it was based on complaints of alleged graft, embezzlement and power abuse that it had received over the Education Ministry’s 1BestariNet project.
MyEG Services Bhd said it has teamed up with an agency of China's customs in a bid to secure the Royal Malaysian Customs's “single window” project.
Gadang Holdings Bhd said its subsidiaries have been hit with a civil suit by their subcontractor, claiming an amount of RM9.8mn in alleged outstanding payments for works done related to the Johor Bahru–Singapore Rapid Transit System Link.
OSK Holdings Bhd is expanding its cable manufacturing business with the acquisition of Universal Cable (M) Bhd’s assets in Johor for RM85mn. OSK’s unit, Olympic Cable Company Sdn Bhd, is buying the Universal Cable assets which include its manufacturing plants, land and machinery.
MISC Bhd has agreed with Netherlands-based floating production storage and offloading operator SBM Holding Inc to exchange ownership interests on two FPSO vessels.
Duopharma Biotech Bhd has extended its group managing director Leonard Ariff Abdul Shatar’s contract for another year until Dec 31, 2025. Leonard Ariff’s contract will commence from Dec 9, 2024 until Dec 31, 2025.
