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TH Heavy, Allianz Malaysia, HLT Global, Ranhill, Samaiden, Advancecon, AYER Holdings, JAKS Resources, Majuperak

KUALA LUMPUR (March 15): Here is a brief look at some of the corporate announcements and news flow on Tuesday, which involve TH Heavy Engineering Bhd, Allianz Malaysia Bhd, HLT Global Bhd, Ranhill Utilities Bhd, Samaiden Group Bhd, Advancecon Holdings Bhd, AYER Holdings Bhd, JAKS Resources Bhd and Majuperak Holdings Bhd.

Former Dagang NeXchange Bhd (DNeX) managing director (MD) Zainal Abidin Abd Jalil, who still sits on the company's board, has been appointed as an independent non-executive director of TH Heavy Engineering Bhd, effective Tuesday (March 15). Zainal is currently an executive director of DNeX and has held the post since February 2019, after serving as the group's MD for about five years, and is also the group MD of Ping Petroleum Ltd, a 90%-owned subsidiary of DNeX.

Allianz Malaysia Bhd has appointed former Federal Court judge Tan Sri Zainun Ali as an independent and non-executive director of the group, effective Tuesday. The insurer said Zainun retired from the Malaysian judiciary in 2018.

HLT Global Bhd's wholly-owned subsidiary HL Advance Technologies (M) Sdn Bhd (HLA) is suing WRP Asia Pacific Sdn Bhd, WRP Specialty Products Sdn Bhd (the first and second defendants) and three others over RM16.43 million owed for equipment, goods and services provided by HLA. The three others named in the writ summons and statement of claim filed at the High Court are Michael Sng Beng Hock (third defendant), Loong Mei Yin (fourth defendant) and Abinash Majhi (fifth defendant).

Ranhill Water Services Sdn Bhd, an indirect wholly-owned subsidiary of Ranhill Utilities Bhd, has accepted a letter of acceptance from Pengurusan Aset Air Bhd for a RM61.49 million pipe replacement project. Ranhill said the work package is for the replacement of old pipes and related works in Kota Bharu Timur, Machang, Tanah Merah and Kuala Krai in Kelantan.

Samaiden Group Bhd has bagged a RM56.64 million engineering, procurement, construction and commissioning (EPCC) contract in relation to the development of a 15MW large scale solar photovoltaic power plant in Kamunting, Perak. The renewable energy and environment solutions provider said its wholly-owned subsidiary Samaiden Sdn Bhd has entered into a contract with Green RE Sdn Bhd to undertake, amongst others, EPCC works in relation to the power plant.

Earthworks and civil engineering services specialist Advancecon Holdings Bhd has bagged a construction project worth RM42.54 million in Klang. The group, via its wholly-owned unit Advancecon Infra Sdn Bhd (AISB), has accepted the letter of acceptance from Sime Darby Property (Bukit Raja) Sdn Bhd for the appointment of AISB as the contractor for the proposed construction and completion of earthworks and other related works for the development of Phase 2 (R6, R8, R9, and C5) in Bandar Bukit Raja 2, Kapar district.

AYER Holdings Bhd, formerly known as TAHPS Group Bhd, has proposed a first and final dividend of 10 sen per share for the financial year ended Dec 31, 2021. This is subject to its shareholders' approval at the forthcoming annual general meeting, said the plantation and property group.

JAKS Resources Bhd said its wholly-owned subsidiary JAKS Nibong Tebal Sdn Bhd has achieved financial close for its Large Scale Solar 4 (LSS4) project in Seberang Perai, Pulau Pinang. It said AmBank Islamic Bhd and United Overseas Bank (Malaysia) Bhd have granted financing for the project. JAKS was one of the 10 winning bids that were selected for Package 2 of the LSS4 project, tasked with developing the solar photovoltaic plants with a total solar power capacity of 50 megawatts.

Majuperak Holdings Bhd has terminated the subscription agreement it has with the Perak State Agricultural Development Corp (PPPNP). In October last year, PPPNP proposed to subscribe 56.88 million new shares in Majuperak, representing 20% of the existing shares, for RM19.05 million. The Perak government's indirect subsidiary said the cancellation agreement is aimed at reviewing all its fundraising proposals. This is an interim measure to meet the group's immediate funding purposes prior to Majuperak's regularisation plan, it said.


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