KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
JcbNext Bhd
has sold a 1.8% stake in Taiwan-listed 104 Corp for T$133.9mn (RM18.1mn) to diversify its portfolio and reduce concentration risk.
OCB Bhd is divesting its loss-making subsidiary, Agrow Malaysia Sdn Bhd, for RM3mn to buyer Tan Sim Lam, who will assume RM20.3mn of Agrow’s debt.
Nova MSC Bhd has opted not to proceed with share subscription deals with two Singapore-based investment firms due to delays in regulatory processes.
Paragon Globe Bhd shareholders have approved the acquisitions of several Johor land parcels, including 6.0ha of freehold industrial land in Plentong for RM28.6mn and 7.8ha of freehold agriculture land in the same area for RM35.0mn.
PUC Bhd's 27.53%-owned associate, Pictureworks International Holdings Limited, has filed Form F-1 with the U.S. Securities and Exchange Commission on Dec 26 for its proposed Nasdaq listing.
SCGM Bhd announced plans to inject its agriculture-related business, Eramas Global Group Sdn Bhd, into the company for RM207.9mn via a share issuance at 36.5 sen per share as part of its regularization plan.
GPP Resources Bhd has proposed to sell its 51% stake in Gambang Power Plant Sdn Bhd for RM25,500.
Cocoaland Holdings Bhd co-founder Lau Pak Lam reduced his stake in PUC Bhd by selling 100mn shares (3.6%) in a direct transaction, leaving him with a 4.26% stake.
Chinese national Huang YongKang acquired a 9.09% stake in Asia Poly Holdings Bhd through a private placement of 95.9mn shares, valued at RM6.7mn at seven sen per share.
Sunzen Biotech Bhd will change its name to Sunzen Group Bhd, effective Dec 31, 2024 but the company's stock short name and number will remain unchanged. Trading will commence under the new name at 9:00 am on Dec 31.
Swift Energy Technology Bhd reported its IPO shares for the Malaysian public were oversubscribed by 58.1x ahead of its ACE Market listing on Jan 8, 2025.
Crescendo Corporation Bhd reported a substantial net profit increase to RM103.0mn for 3QFY2025, up from RM18.0mn YoY.
Kim Loong Resources Bhd reported a record net profit of RM50mn for 3QFY25, marking a 4.1% YoY increase from RM48mn, despite a slight decline in revenue to RM446.4mn from RM448.7mn.
