Friday 29 Mar 2024
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KUALA LUMPUR (Oct 3): Based on corporate announcements and news flow today, companies in focus on Thursday (Oct 4) may include: Axiata Group Bhd, Maxis Bhd, Telekom Malaysia Bhd, TIME dotcom Bhd, APFT Bhd, Country Heights Holdings Bhd and PRG Holdings Bhd.

Telco firms including Axiata Group Bhd’s unit Celcom, Maxis Bhd, Telekom Malaysia Bhd and TIME dotCom Bhd, have agreed to reduce the prices of fixed broadband access in line with the government's initiative to reduce fixed broadband prices with higher speed by 2019.

Some of the telcos have already rolled out the cheaper packages before Sept 30 which was the deadline for the telcos to submit their access agreements to the Malaysian Communications and Multimedia Commission (MCMC), said the commission.

Meanwhile, Telekom Malaysia has appointed four new directors to boost the board's composition following the resignation of David Benello as an independent non-executive director.

The new directors are Datuk Asri Hamidin @ Hamidon, Datuk Mohd Naim Daruwish, Hisham Zainal Mokhtar and Saheran Suhendran.

The group also announced the appointment of Farid Bassir as its new chief human capital officer, in place of Suhaimi Sulong who served as acting chief human capital officer since early this year.

APFT Bhd has appointed two new non-executive directors effective today, namely SMTrack Bhd executive director Datuk Tan Choon Hwa and former National Water Management Commission (SPAN) chairman Tan Sri Zaini Omar.

The two will fill the positions left vacant by Chow Hung Keey and Datuk Sri Ahmad Said Bin Hamdan after the two retired by not seeking for re-election in the company’s annual general meeting in July.

Country Heights Holdings Bhd (CHHB), which announced on Sept 21 a plan to issue its own asset-backed cryptocurrency called 'Horse Currency' assured shareholders it will be taking "very patient and prudent steps" in the venture.

CHHB is the first Bursa Malaysia-listed firm to plan its own cryptocurrency issuance — totalling 1 billion Horse Currencies backed by RM2 billion worth of the group's assets — with an initial 300 million units in its first initial coin offering (ICO).

The company will be holding an EGM on Nov 8 to get shareholders’ approval for the plan, as well as to appoint any technology partner and external consultants for the ICO.

PRG Holdings Bhd has disposed of 60.48 million shares representing a 12% stake in Hong Kong-listed elastic textile and webbing manufacturer Furniweb Holdings Ltd for 50 HK cents per share (26 sen) or RM15.96 million.

PRG said the original cost of investment for the 60.48 million shares was RM11.14 million. The deal will reduce PRG’s stake in Furniweb to 63%.

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