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Serba Dinamik, BCorp, Inari Amertron, Bintai Kinden, Nestcon, Kelington, DNeX, Haily, Tex Cycle, LBS Bina and AWC

KUALA LUMPUR (Jan 10): Here is a brief recap of some corporate announcements that made the news on Tuesday (Jan 10) involving Serba Dinamik Holdings Bhd, Berjaya Corp Bhd, Inari Amertron Bhd, Bintai Kinden Corp Bhd, Nestcon Bhd, Kelington Group Bhd, Dagang Nexchange Bhd, Haily Group Bhd, Tex Cycle Technology (M) Bhd, LBS Bina Group Bhd and AWC Bhd.

The High Court has allowed the petition made by six financial institutions — Standard Chartered Saadiq Bhd, HSBC Amanah Malaysia Bhd, Ambank Islamic Bhd, MIDF Amanah Investment Bank Bhd, United Overseas Bank (Malaysia) Bhd and Bank Islam Malaysia Bhd — to wind up Serba Dinamik Holdings Bhd and its three subsidiaries, namely Serba Dinamik International Ltd, Serba Dinamik Sdn Bhd and Serba Dinamik Group Bhd, over debits totalling about RM5 billion. Serba Dinamik also said that it is seeking legal advice to appeal or set aside the winding-up order.

Berjaya Corp Bhd says that it is in the midst of negotiations for the proposed acquisition of a controlling stake in MCIS Insurance Bhd, confirming an earlier report by The Edge Malaysia, citing sources, that the group is in talks with South Africa-based Sanlam Ltd to purchase the latter’s 51% stake in MCIS Life. Koperasi MCIS Bhd holds another 44.39% equity interest in MCIS Life, while the remaining shares are held by individuals.

Inari Amertron Bhd, which saw its stock price fall by as much as 25 sen or 8.9% to an intraday low of RM2.55 on Tuesday, is unlikely to be affected by news that consumer electronics giant Apple Inc might be dropping Broadcom Inc's chip from its devices. A channel check by The Edge showed that Inari’s exposure to Broadcom's business is more on RF chips. In short, Inari should see muted impact, even if Broadcom's Wi-Fi and Bluetooth chips were to be replaced.

Mechanical and electrical engineering services specialist Bintai Kinden Corp Bhd is venturing into digital assets via its unit Bintai Trading Sdn Bhd (BTSB) as part of the group’s treasury management and for the longer-term needs in its business expansion. Bintai Kinden said BTSB has an account with a digital currency exchange licensed by the Securities Commission Malaysia.

Nestcon Bhd’s unit secured a RM200 million contract from Armada Istimewa Sdn Bhd to build a 47-storey mixed commercial development comprising 320 serviced apartment and 354 strata office with facilities at Jalan Liew Weng Chee here. The 41-month contract entails undertaking the construction and completion of earthworks, piling and pile caps, retaining wall, substructure, main building works and infrastructure works for the project. 

End-to-end integrated engineering services provider Kelington Group Bhd’s wholly-owned subsidiary Kelington Technologies Sdn Bhd has secured a RM170 million contract from “a global supplier of micro-electronic semiconductor solutions” to undertake construction works at an integrated chip manufacturing facility at the Sama Jaya Free Industrial Zone in Kuching, Sarawak.

The composition of the board of Dagang Nexchange Bhd’s (DNeX) 60%-owned subsidiary SilTerra Malaysia Sdn Bhd’s directors is to see no changes pending the conclusion of a lawsuit concerning appointments to its board based on a consent order recorded at the High Court mutually agreed upon by SilTerra, DNeX Semiconductor Sdn Bhd as well as Tethystronics Technologies Co Ltd. The consent order also states that SilTerra’s board is entitled to convene for subsequent meetings on matters related to the company, but cannot deliberate on the legal matter.

Haily Group Bhd’s wholly-owned unit Haily Construction Sdn Bhd has won a RM37.85 million from RDC Arkitek Sdn Bhd contract to construct 77 units of three-storey shop offices at Bandar Jaya Putra in Tebrau district. With this latest job win, Haily’s orderbook comprises 25 ongoing projects with a total contract value of RM631.16 million.

Tex Cycle Technology (M) Bhd has proposed to dispose of two detached factories in Puchong for RM19 million, which is expected to result in a gain on disposal of approximately RM13.72 million. Proceeds from the disposal would be used for general working capital requirements in respect of its day-to-day operations to support its existing business operations.

LBS Bina Group Bhd has set a sales target of RM2 billion for this year, after it closed off 2022 with RM2.003 billion in property sales — surpassing its 2022 sales target of RM1.6 billion by 25%. The group’s plans to launch 12 new projects in 2023 covering the Klang Valley, Johor, Pahang and Perak, with a total gross development value (GDV) of RM2.09 billion and 4,021 cumulative units across all property types.

AWC Bhd has inked a Memorandum of Understanding (MOU) with two Indonesian firms PT Gema Karya Manunggal and PT Prasarana Danoes Cemerlang to jointly explore opportunities in the oil & gas business, as well as airport and port infrastructure in Malaysia and Indonesia. Other areas to be explored include safety, water treatment, waste treatment, municipal waste treatment and environmental maintenance sectors.

https://www.theedgemarkets.com/node/651265

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