KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Fitch Ratings has downgraded Genting Bhd
’s credit rating to BBB- from BBB, citing elevated debt levels amid heavy capital expenditure.
CBH Engineering Holding Bhd has secured an RM88.1mn contract to design and construct a 275kV consumer landing station for a data centre in Selangor.
Vestland Bhd has secured an RM263.7mn contract from Johnson Fluid Engineering Sdn Bhd to undertake the construction of a dual-function sheet pile wall and bridge works in Kelantan.
P.A. Resources Bhd has secured RM255.5mn in additional banking facilities to support its expansion plans, including the construction of a new plant and higher production capacity.
Zetrix AI Bhd has revived its proposed RM130.0mn acquisition of a 50.0% stake in MYEG Ventures Inc through a new agreement with IPVG Employees Inc, after terminating its earlier deal with Next Lion Ltd. Meanwhile, co-founder and largest shareholder Wong Thean Soon, together with his investment vehicle Asia Internet Holdings Sdn Bhd, has disposed of a net 960.7mn shares, representing a 12.2% stake, for a combined RM228.0mn in just over a week.
TT Vision Holdings Bhd has awarded an RM92.0mn contract to Yu Tong Construction Sdn Bhd for the construction of a new factory and office building at Bayan Lepas Industrial Park, Penang.
MN Holdings Bhd’s wholly owned subsidiary, MN Utilities Engineering Sdn Bhd, together with Pembinaan Tajri Sdn Bhd, has secured an RM67.3mn contract from Tenaga Nasional Bhd for the installation of a new 275kV cable.
Pekat Group Bhd’s has secured three subcontracts worth a combined RM57.2mn for earthing and lightning protection works for a project in Johor Bahru.
Gas Malaysia Bhd has signed a joint study and collaboration agreement with Petronas Gas Bhd to explore the development of an onshore lateral pipeline to support the proposed regasification terminal project in Yan, Kedah.
Hengyuan Refining Company Bhd has agreed to renew its product supply agreement with Shell Malaysia for up to 10 years, from Jan 1, 2027 to Dec 31, 2036.
Hextar Retail Bhd’s major shareholder, Datuk Eddie Ong Choo Meng, has triggered a mandatory takeover offer after his investment vehicle, Hextar Portfolio Sdn Bhd, raised its stake in the company to 35.4%.
The Securities Commission Malaysia has exempted the Ku family from undertaking a mandatory offer for KSL Holdings Bhd following the consolidation of their shareholdings under various family vehicles into a single family office.
Nexg Bina Bhd, formerly known as Classita Holdings Bhd, has called off its proposed disposal of a 49.0% stake in wholly owned subsidiaries Classita (M) Sdn Bhd and Marywah Industries (M) Sdn Bhd to the subsidiaries’ director, Choo Peng Hung.
Cengild Medical Bhd has proposed a private placement of up to 16.7mn new shares, representing 2.0% of its issued share capital, to specialist medical practitioners who provide services to the group on a contractual basis.
Butterfield FB Bhd, which is set to list on the ACE Market of Bursa Malaysia Bhd on Sept 15, reported a net profit of RM6.5mn on revenue of RM69.7mn for 1QFY27.
