Axiata, FGV, KNM, MyNews, BFood, BAssets, Kelington, Willowglen, Gadang, MPI and Pertama Digital

Axiata, FGV, KNM, MyNews, BFood, BAssets, Kelington, Willowglen, Gadang, MPI and Pertama Digital

KUALA LUMPUR (Dec 22): Based on corporate announcements and news flow on Wednesday, companies in focus on Thursday may include Axiata Group Bhd, FGV Holdings Bhd, KNM Group Bhd, MyNews Holdings Bhd, Berjaya Food Bhd, Berjaya Assets Bhd, Kelington Group Bhd, Willowglen MSC Bhd, Gadang Holdings Bhd, Malaysian Pacific Industries Bhd and Pertama Digital Bhd.

Mohd Khairil Abdullah, the CEO of Axiata Digital Services, the digital services arm of Axiata Group Bhd, has resigned from the top position. An Axiata Group spokesperson confirmed this when contacted by The Edge. Mohd Khairil will leave Axiata Digital on Feb 14 after a nine-year stint at Axiata Group.

FGV Holdings Bhd plans to raise RM500 million by establishing a sukuk murabahah programme. The proceeds will be used by FGV to refinance its existing financing or borrowings.

KNM Group Bhd has proposed a slew of corporate exercises to improve its financial position, including disposing of its Thai and UK plants and listing Germany-based Borsig Group. This comes as the group is seeking to resolve its recent default on its 2.78 billion baht (RM346.76 million) Thai bonds, and “unlock the sum-of-the-parts value of KNM Group for its shareholders”.

MyNews Holdings Bhd reported a smaller net loss of RM8.89 million for the fourth quarter ended Oct 31, 2021 (4QFY21), compared with RM14.92 million in the immediate preceding quarter, as a relaxation of the lockdown boosted in-store sales. Revenue rose 10.87% to RM104.08 million from RM93.89 million in 3QFY21. On a year-on-year basis, MyNews’ net loss widened from RM5.77 million in 4QFY20, due to the nationwide lockdown.

Berjaya Food Bhd (BFood) plans to acquire two freehold commercial units for RM15.67 million, or RM650 per sq ft, via wholly-owned subsidiary Berjaya Starbucks Coffee Company Sdn Bhd. It is buying the two units located on Level 10, Berjaya Times Square from Berjaya Times Square Sdn Bhd, a wholly-owned subsidiary of Berjaya Assets Bhd.

Kelington Group Bhd said its unit Kelington Engineering (S) Pte Ltd (KES), has secured a contract worth RM110 million to provide Ultra High Purity (UHP) solutions for a wafer production facility in Singapore. Kelington did not specify the name of its client, only saying its customer is a "global leader in engineering and project management of high-technology facilities who has been appointed as the contractor of the end-customer".  

Computer integrated systems design company Willowglen MSC Bhd has been awarded an RM13.5 million contract by the Public Utilities Board of Singapore. The contract is for the purpose of maintenance of existing supervisory control and data acquisition systems.

Gadang Holdings Bhd said its indirect 70%-owned subsidiary Nusantara Suriamas Sdn Bhd (NSSB) has signed a power purchase agreement for a large-scale solar energy project with Sabah Electricity Sdn Bhd (SESB). NSSB will design, construct and operate a solar photovoltaic energy generating facility with a capacity of 5.9 Megawatt alternating current in Tawau, for connection to SESB's medium voltage distribution network at PPU Sri Indah.  

Malaysian Pacific Industries Bhd (MPI) has entered into an agreement to invest in land for its new plant in Suzhou, China. Under the agreement, the company will acquire a 16.47-acre land with a usage term of 50 years at a cost of around 22.4 million yuan (RM14.81 million) to build its new plant.

Pertama Digital Bhd is venturing into fibre broadband services. The firm, which backs fintech and govtech companies, said it is in advanced investment and collaboration negotiations with iFIBER Holdings Sdn Bhd that were formalised in a Memorandum of Understanding. It said through this partnership, Pertama Digital and iFIBER seek to deliver gigabit speed internet connectivity at affordable rates.

https://www.theedgemarkets.com/article/axiata-fgv-knm-mynews-bfood-bassets-kelington-willowglen-gadang-mpi-and-pertama-digital