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ILB, F&N, Green Packet, Privasia, SCIB, IJM, Caely, MGRC, TDM, Globaltec, Joe Holding and Fintec Global

KUALA LUMPUR (Aug 3): Here is a brief look at some corporate announcements and news flow on Wednesday (Aug 3), which include ILB Group Bhd, Fraser & Neave Holdings Bhd, Green Packet Bhd, Privasia Technology Bhd, Sarawak Consolidated Industries Bhd, IJM Corp Bhd, Caely Holdings Bhd, Malaysian Genomics Resource Centre Bhd, TDM Bhd, Globaltec Formation Bhd, Joe Holding Bhd and Fintec Global Bhd.

ILB Group Bhd (formerly known as Integrated Logistics Bhd) is seeking legal advice after a minority shareholder BT Investment Capital Ltd filed a lawsuit against ILB board members, in an attempt to block an acquisition that could dilute shares owned by existing shareholders.

Fraser and Neave Holdings Bhd (F&N) saw its net profit rise slightly to RM97.5 million in the third quarter ended June 30, 2022 from RM96.16 million a year ago as improved sales in Malaysia and price adjustments helped to mitigate pressures from Thailand operation and export markets. Revenue rose 5.53% to RM1.12 billion from RM1.06 billion.

Green Packet Bhd and Privasia Technology Bhd have denied a local news report that said the companies are attempting to obtain the Health Ministry's approval for a digital tracking system in relation to the proposed Control of Tobacco Product and Smoking Bill 2022.

Sarawak Consolidated Industries Bhd (SCIB) has inked a Memorandum of Understanding with PT Semesta Noor Berkarya and PT Envy Manajemen Konsultansi to explore the formation of a partnership in relation to the construction of 4G telecommunications towers for Indonesia’s outermost regions.

IJM Corp Bhd marks its first foray into the industrial and logistics market by partnering with China Harbour Engineering Company Ltd (CHEC) to develop a mixed development and logistics hub in Kuantan. IJM’s indirect subsidiary Asas Panorama Sdn Bhd had recently entered a joint venture agreement with CHEC — a subsidiary of China Communications Construction Company — for the development of Malaysia-China Kuantan International Logistics Park.

Businessman Datuk Seri Tee Yam @ Koo Tee Yam continued to expand his shareholdings in Caely Holdings Bhd, buying 5.5 million shares off market. This raised his total shareholdings to 39.38 million shares or 15.25%. The group’s former executive chairman Datuk Wira Ng Chun Hau, meanwhile, disposed of the same number of shares on the same day via off-market transaction. Subsequent to his disposal, Ng was left with a 10.02% direct shareholding and a 0.83% indirect stake.

Malaysian Genomics Resource Centre Bhd (MGRC) said on Wednesday that it is not aware of any corporate development that would have caused the sharp fall in its share price on Tuesday (Aug 2).

TDM Bhd, a subsidiary of the Terengganu State government, has announced the appointment of Tengku Seri Bijaya Raja Datuk Tengku Farok Hussin Tengku Abdul Jalil as its non-independent non-executive chairman.

Globaltec Formation Bhd’s 52%-owned Australia-listed subsidiary NuEnergy Gas Ltd has obtained approval from the Indonesian Ministry of Energy and Mineral Resources for additional exploration time at the Muralim gas field until July 18, 2023.

Joe Holding Bhd has proposed the acquisition of two pieces of machinery from Fintec Global Bhd’s wholly-owned subsidiary Fintec Glove Sdn Bhd for a total contract price of RM14.47 million.

https://www.theedgemarkets.com/article/ilb-fn-green-packet-privasia-scib-ijm-caely-mgrc-tdm-globaltec-joe-holding-and-fintec-global

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