KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
UEM Sunrise Bhd
has lost its legal attempt to challenge the Inland Revenue Board’s additional tax assessment and penalty of RM8.49mn, after the Federal Court overturned a prior ruling that favoured the property developer.
S P Setia Bhd is partnering with Japanese real estate developer Mitsui Fudosan to develop a residential project in Semenyih with a gross development value of RM1.3bn.
Tropicana Corporation Bhd has redeemed another tranche of its sukuk wakalah worth RM139mn under its RM1.5bn programme, which matured on Wednesday.
Matrix Concepts Holdings Bhd has signed a MoU with logistics company Golog Holdings Sdn Bhd to jointly develop the RM8bn China-Malaysia Air Silk Road Dual Hub Industrial Park in MVV TechValley at Negeri Sembilan.
Varia Bhd has lodged a sukuk murabahah programme of up to RM3bn with the Securities Commission Malaysia.
GUH Holdings Bhd plans to expand into advanced printed circuit boards and launch a RM1.2bn property project in Simpang Ampat, Penang, as part of plans to grow the company.
Pecca Group Bhd has signed an MOU with Betamek Bhd to work together on developing advanced entertainment systems for both in-flight and in-train use.
Meridian Bhd’s external auditor, Messrs. Morison LC PLT, has issued a disclaimer of opinion on the company’s audited financial statements for the period ended May 31, 2025, citing insufficient audit evidence and material uncertainties over its ability to continue as a going concern.
Oasis Harvest Corporation Bhd has obtained shareholder approval to acquire Metta Food and Lifestyle Sdn Bhd, the operator of De.Wan 1958 by Chef Wan and Café Chef Wan, for RM30.8mn, including a two-year profit guarantee of RM5.6mn.
KNM Group Bhd has obtained High Court approval to sell its German subsidiary, Deutsche KNM GmbH, to Japan’s NGK Insulators Ltd for €270mn (RM1.28bn) as part of its debt restructuring plan under Section 368(4) of the Companies Act 2016.
