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Singapore Investment


Telekom, TNB, Boustead Holdings, Pharmaniaga, Sunway REIT, PTT, and TAFI

KUALA LUMPUR (Dec 29): Here is a brief recap of some corporate announcements that made news on Thursday (Dec 29) involving Telekom Malaysia Bhd, Tenaga Nasional Bhd, Boustead Holdings Bhd, Pharmaniaga Bhd, Sunway Real Estate Investment Trust (REIT), PTT Synergy Group Bhd and TAFI Industries Bhd.

Telekom Malaysia Bhd has clarified that the telecommunications giant's decision to exit the Kuala Lumpur Tower, or KL Tower, concession was part of a business transformation programme to focus its efforts and resources on strengthening its core business of telecommunications and technology. KL Tower is owned by the government, while the operations and maintenance of the tower are granted under a concession.

Datuk Seri Hasan Arifin, 69, is resigning from his position as non-executive chairman of Tenaga Nasional Bhd. He was TNB chairman from Oct 1, 2021 and will resign with effect from Jan 1, 2023. Hasan was a two-term Barisan Nasional Member of Parliament for Rompin, but lost in the 15th general election to Datuk Abdul Khalib Abdullah from Bersatu. He had served as the chairman of Parliament's Public Accounts Committee.

Boustead Holdings Bhd has announced an interim dividend of 1.5 sen per share, its first in four years. The dividend will be paid on March 27, 2023 with a Feb 27 ex-date and a Feb 28 entitlement date. Boustead Holdings, which saw Izaddeen Daud appointed as its new group chief executive officer last month, had not declared any dividend since 2018. Its last interim dividend was declared in December 2018 at 1.5 sen.

Pharmaniaga Bhd’s unit has been granted a six-month extension till end-June 2023 of the concession agreement for the provision of medicines and medical supplies to Ministry of Health facilities, pending the finalisation of a new concession agreement. During this period, Pharmaniaga’s wholly-owned subsidiary Pharmaniaga Logistics Sdn Bhd is required to implement the Pharmacy Information System and Clinic Pharmacy System maintenance, licence renewal, change request and system implementation at the new facilities based on existing operating cost rates. This comes as the existing one-year extension, granted on Dec 28, 2021, will expire by the end of this year.

Sunway Real Estate Investment Trust plans to sell a seven-storey purpose-built hospital and land it bought for RM310 million a decade ago from Sunway Bhd's healthcare arm under a sale-and-lease-back arrangement — known as Tower A & B of Sunway Medical Centre — back to the latter for RM430 million. The proposal comes as the 10-year master lease agreement that commenced on Dec 31, 2012 is set to expire on Dec 30 this year. The REIT has, via its trustee RHB Trustees Bhd, inked a conditional sale and purchase agreement with the Sunway unit, Sunway Medical Centre Sdn Bhd, which is currently using the property that occupies two parcels of leasehold plots to operate a medical centre.

PTT Synergy Group Bhd has proposed to acquire a piece of industrial land in Bandar Bukit Raja, Klang from Sime Darby Property Bhd for RM12.25 million. The freehold land, measuring 4,987 square metres, has a double-storey detached factory erected on it. PTT Synergy's wholly-owned sub-subsidiary, PTT Assets Sdn Bhd, entered into an agreement with Sime Darby Property's wholly-owned unit, Sime Darby Property (Bukit Raja) Sdn Bhd, for the purchase of the property.

TAFI Industries Bhd's unit has secured a RM205 million contract to build 941 units of small office home office (Soho) and related facilities in Subang Jaya for the project's main contractor, Metbuild Sdn Bhd. The group's wholly-owned subsidiary TA Furniture & Projects Sdn Bhd has been appointed as the project management consultant by the project's developer, Pinnacle Homes SJ CBD Sdn Bhd.


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