KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Southern Steel Bhd
has proposed to acquire the entire stake in Ann Joo Steel Sdn Bhd from Ann Joo Resources Bhd via a cash deal based on RM1.0bn in non-current assets plus net current assets, subject to definitive agreements and shareholder approvals.
KPS Consortium Bhd has secured a RM107.0mn contract to build a 35-storey residential project in Cheras, Kuala Lumpur.
ACE Market-listed iCents Group Holdings Bhd has secured a RM14.1mn contract to supply a data centre system for a data centre project in Indonesia.
Malaysia Smelting Corp Bhd has invested RM10.0mn to build a new rotary furnace at Rahman Hydraulic Tin in Klian Intan, Perak.
Sarawak-based Insights Analytics Bhd is being sued by Place2Stay Management Sdn Bhd over non-payment of a balance purchase price of RM8.5mn in a software source code deal.
Exsim Hospitality Bhd, via its wholly owned unit Exsim Concepto Sdn Bhd, has secured a RM2.7mn subcontract for construction and renovation works under a powertrain relocation project for Perusahaan Otomobil Nasional Sdn Bhd.
Hubline Bhd formed a 60:40 JV with Permodalan Satok, PSB Hubline Sdn Bhd, with an initial paid-up capital of RM1.0mn to transport methanol and chemical products in Sarawak.
Meta Bright Group Bhd has signed a heads of agreement to acquire controlling stakes in four EPCC companies from Teo Hin Wee, with final consideration to be determined later.
NexG Bhd has appointed its largest shareholder Datuk Ishak Ismail as executive chairman, with co-founder Datuk Abu Hanifah Noordin redesignated as deputy executive chairman while retaining his role as group CEO.
Stainless steel manufacturer K Seng Seng Corp Bhd has appointed Wong Pak Yii as its new chief executive officer, effective immediately.
SNS Network Technology Bhd’s 4QFY26 net profit halved to RM5.1mn from RM10.0mn despite revenue rising 52.5% YoY to RM383.5mn, due to higher selling, distribution and administrative expenses.
