KUALA LUMPUR (Oct 3): Here is a brief recap of some corporate announcements that made news on Monday (Oct 3), involving Ageson Bhd, HCK Capital Group Bhd, Caely Holdings Bhd, Scomi Energy Services Bhd, Jiankun International Bhd, EP Manufacturing Bhd, Heng Huat Resources Group Bhd, Tiong Nam Logistics Holdings Bhd, and TSR Capital Bhd.
Construction and property development company Ageson Bhd's indirect wholly owned subsidiary Ageson Net Sdn Bhd has been appointed by Koperasi Belia Nasional Bhd (Kobena) to manage the business operations of Kobena's 4,000 units of vending machines and retail refrigerators that are integrated with the Internet-of-Things system and solutions. The latest memorandum of understanding followed an earlier one signed last Friday (Sept 30) between Ageson Retails Sdn Bhd, another indirect wholly owned subsidiary of Ageson, and Kobena to sell the 4,000 units of vending machines and/or retail fridges.
HCK Capital Group Bhd, confirming a report in The Edge Malaysia weekly, said it will take over the incomplete property development project — Empire Remix 1 — in Subang Jaya. This is the second abandoned project that the company has taken over there. The property developer's wholly owned subsidiary Subang Sentral Developments Sdn Bhd has entered into a joint venture agreement with the landowner, Projek Muara Sdn Bhd, and its subsidiary Dergahayu Sdn Bhd for Subang Sentral Developments to complete the development.
Caely Holdings Bhd has clarified that the police did not arrest anyone when carrying out investigations into the troubled lingerie maker's premises on Sept 14. Responding to an article in The Edge Malaysia weekly, Caely also clarified that there was no withdrawal of the lawsuit filed to seek the return of RM30.55 million allegedly misappropriated by the group's founder, Datin Fong Nyok Yoon, and her husband, Datuk Chuah Chin Lai. The article said that police raided the offices of Caely on Sept 14 based on a police report lodged by Datin Seri Jessie Wong Siaw Puie (who was the group's executive vice chairman until she was removed from her post following a High Court ruling on Aug 29), leading to the arrest of a driver.
The concessionaire of the proposed Petaling Jaya Dispersal Link (PJD Link Expressway) is seeking a listing on Bursa Malaysia via the reverse takeover of Practice Note 17 (PN17) company Scomi Energy Services Bhd. PJD Link (M) Sdn Bhd said the group and its shareholders — PJD Link Holdings Sdn Bhd and Noblemax Resources Sdn Bhd — have entered into a framework agreement with Scomi Energy for the acquisition of PJD Link for an indicative price of about RM922 million. The parties are expected to enter into a definitive agreement within 60 days. Scomi Energy, commenting on the agreement, said it is part of its regularisation plan to address its PN17 status as well as maintain its listing status.
Jiankun International Bhd, which is in the midst of completing a sizeable private placement of new shares, has redesignated its executive director Datuk Saiful Nizam Mohd Yusoff as the group's deputy executive chairman, effective Monday. Saiful Nizam, the son-in-law of former deputy prime minister Datuk Seri Dr Ahmad Zahid Hamidi, currently holds 21 million shares or a 8.58% stake in Jiankun. Meanwhile, executive deputy chairman Datuk Lim Siang Chai has been redesignated as executive director, said the real estate developer.
EP Manufacturing Bhd (EPMB) has been approved to assemble and manufacture two-wheeled electric vehicles (EVs) at its upcoming manufacturing facility in Glenmarie, Shah Alam. The group expects to commence the construction of a manufacturing plant in early 2023, and targets to complete it by the third quarter of 2023. EPMB has partnered with China-based Sharkgulf Technologies Group Ltd to assemble, manufacture and distribute the Sharkgulf Technologies' Blueshark-branded two-wheeled EVs in Malaysia and other Asean countries.
Heng Huat Resources Group Bhd has appointed Fong Chee Khuen, formerly Landmarks Bhd's group chief operating officer and group chief financial officer, as its new chief executive officer, effective Monday.
Tiong Nam Logistics Holdings Bhd has promoted its COO Ong Wei Kuan to deputy managing director of the company from Monday. Apart from that, the logistic service provider has also promoted Wei Kuan's sister, Christina Ong Chu Voon, to COO.
TSR Capital Bhd has proposed to dispose of a piece of land measuring 22,134 sq m in Port Dickson with a building erected on it for RM23.8 million. The 11-year-old property, with 75,000 sq ft of floor area, is currently tenanted for the business of a supermarket-cum-department store, with a rental income of RM99,825 per month. TSR Capital's wholly owned subsidiary, TSR Ocean Park Sdn Bhd, has entered into an agreement with NTS Development Sdn Bhd for the disposal.