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Revenue Group, Computer Forms, Paragon Union, D’nonce, Scomi, Majuperak, Catcha and Focus Point

KUALA LUMPUR (Jan 5): Here is a brief recap of some corporate announcements that made the news on Thursday (Jan 5) involving Revenue Group Bhd, Computer Forms (M) Bhd, Paragon Union Bhd, D’nonce Technology Bhd, Scomi Group Bhd, Majuperak Holdings Bhd, Catcha Digital Bhd and Focus Point Holdings Bhd.

Revenue Group Bhd said two of its executive directors, brothers Brian Ng Shih Chiow and Dino Ng Shih Fang, whose executive functions were suspended on Wednesday (Jan 4) had illegally seized documents belonging to the company. The e-payment solutions provider said its board of directors were made aware of the incident after their special meeting on the same day concerning the duo.

Meanwhile, Revenue announced the appointment of Danny Leong Kah Chern as the its new CEO, as well as the redesignation of co-founding managing director and CEO Datuk Eddie Ng Chee Siong to managing director-cum-alternate chairman. Leong is the former CEO of Cuscapi Bhd and GHL Systems Bhd.

Computer Forms (M) Bhd plans to team up with Thailand-based Energy Absolute PCL by the first quarter of 2023 to jointly produce and distribute electric vehicles (EVs) as well as EV chargers in Malaysia. Computer Forms said it has entered into an agreement with Energy Absolute’s 99%-owned subsidiary EA Mobility Holding Co Ltd to set out further details pertaining to their joint-venture company.

Paragon Union Bhd is selling industrial land in Cheras, Selangor — which contains a single-storey detached factory with a three-storey office annexe — for RM17.5 million to D’nonce Technology Bhd. Paragon Union, a car component and carpet maker, has earmarked RM8.42 million of the proceeds for working capital and RM7.2 million for repayment of bank borrowings.

Practice Note 17 company Scomi Group Bhd’s wholly-owned subsidiary Scomi Capital Sdn Bhd (SCSB) has entered into a Heads of Agreement with its JV partner XAIR Generators Sdn Bhd towards acquiring a further 60% equity interest in the pair’s power generation solutions JV firm Hartamas Megah Sdn Bhd, to raise its stake in the company to 80%. Currently, XAIR holds an 80% stake in the JV, while SCSB holds 20%.

Majuperak Holdings Bhd has decided to dispose of a 134.2-hectare piece of leasehold land in Perak to Perak Agro Corp Sdn Bhd, a wholly-owned unit of the state’s agricultural development agency Perbadanan Pembangunan Pertanian Negeri Perak (PPPNP), for RM9.53 million as debt settlement. The land transfer is deemed a related party transaction as Majuperak is 51% owned by Perbandanan Kemajuan Negeri Perak, another state government agency that shares common directorship with PPPNP.

Digital media group Catcha Digital Bhd has announced the appointment of Eric Tan Leong Yit as group CEO effective Jan 2. The group said Tan — who is a former CEO and co-founder of Instahome, and the co-founder of VIP Live — will be responsible for driving growth and expansion opportunities, and value-adding mergers and acquisitions.

Optical retail chain store operator Focus Point Holdings Bhd’s entire issued share capital has successfully been transferred from the ACE Market of Bursa Malaysia to the Main Market. Focus Point said the group is set to continue its expansion both locally and regionally via effective marketing and promotional activities, as well as the opening of new optical and Japanese concept bakery Komugi outlets.

https://www.theedgemarkets.com/node/650665

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