KUALA LUMPUR (Jan 15): Here is a brief recap of some corporate announcements that made the news on Monday:

Econframe Bhd has acquired industrial property builder ETA World Sdn Bhd for RM56 million. The total door system solutions provider said it has entered into a conditional share sale agreement with ETA Industries Sdn Bhd for the proposed acquisition. ETA World provides turnkey design and build solutions of industrial buildings such as factories and warehouses, customising each project based on its customers’ requirements and specifications. Econframe buys industrial property builder for RM56 mil in construction foray

MGB Bhd, a subsidiary of LBS Bina Group Bhd, has promoted its executive vice chairman, Tan Sri Lim Hock San, to group executive chairman with effect from Monday. Lim, 66, succeeds Datuk Abdul Majit Ahmad Khan, 78, who has resigned as the group’s independent and non-executive chairman. He was appointed to the position in August 2014. MGB said Abdul Majit's resignation is in adherence to the Malaysian Code on Corporate Governance and the board charter of the company, which stipulates that the tenure of an independent director should be limited to nine years. MGB appoints Lim Hock San as group executive chairman

Tien Wah Press Holdings Bhd has entered into an agreement with Cat Loi Joint Stock Company (CLC) to form a joint venture company (JVco) to undertake the business of production of paper packaging, print packaging and other business activities in Vietnam. The group’s wholly owned subsidiary Alliance Print Technologies Co Ltd (APTV) has signed an agreement with CLC to establish a company under the proposed name C&A Packaging Company Ltd. APTV will subscribe to 50% of the charter capital of the JVco for a total cash consideration of VND6 billion (RM1.14 million), while the remaining 50% will be held by CLC. Tien Wah inks Vietnam JVco deal

Fertility care specialist Alpha IVF Group Bhd said it has obtained the approval of Bursa Malaysia Securities to proceed with its proposed initial public offering (IPO) on the ACE Market. The group, which provides assisted reproductive services (ARS) with a primary focus on in-vitro fertilisation (IVF), said it targets to be listed within the first quarter of 2024. Fertility care specialist Alpha IVF gets Bursa nod for IPO, expects to list on ACE Market within 1Q

George Kent (Malaysia) Bhd has ventured into Vietnam with a new subsidiary that will operate an assembly plant capable of producing 600,000 water meters annually, and is set to commence operations in the second quarter of 2024. The group’s wholly owned subsidiary George Kent International Pte Ltd (GKI) has invested up to US$532,000 (RM2.46 million) for a 70% stake in George Kent (Vietnam) Company Ltd. The remaining 30% stake is held by Pham Nguyen Hoang, a Vietnamese entrepreneur with over 30 years of experience in the metering distribution business. According to George Kent chairman Tan Sri Tan Kay Hock, the new plant has an annual assembly capacity of 600,000 meters and strengthens the group’s ability to meet growing demand for water meters in Vietnam and potentially in neighbouring regions. George Kent expands to Vietnam with new water meter assembly plant

MSM Malaysia Holdings Bhd has announced a further extension of the garden leave for its chief financial officer (CFO) Dr Mazatul 'Aini Shahar Abdul Malek Shahar by another month. This marks the second extension of Mazatul’s garden leave, which was initially set from Oct 20 to Dec 15, 2023, first prolonged to Jan 15, 2024, and now extended to Feb 15, 2024, or until the board provides further notice. MSM assured that its business operations would continue as usual, with any material developments on this matter prompting further announcements. MSM further extends CFO’s garden leave until Feb 15

Magna Prima Bhd extended its losses for a second consecutive trading day on Monday, after it was slapped with an unusual market activity (UMA) query by Bursa Securities last week. While Magna Prima initially rose 3% or two sen to 68.5 sen in the morning, the counter reversed to a loss position as selling pressure kicked in. This dragged its share price down by as much as six sen or 9.02% to 60.5 sen, before paring some losses to end the day at 62.5 sen, a net decline of four sen or 6.02% from the previous close, giving the group a market capitalisation of RM251 million. Magna Prima extends losses for second straight day after UMA reply

ACE Market-listed Sunview Group Bhd is in talks with several Cambodian companies for the proposed development of some renewable energy facilities in Cambodia, in its bid to expand its business abroad. The renewable energy player’s wholly-owned unit Fabulous Sunview Sdn Bhd has inked a strategic business alliance agreement with “a few” undisclosed Cambodian companies for the development of the RE plants, according to Sunview executive director and CEO Ong Hang Ping. The identities of the potential Cambodian partners cannot be disclosed at this juncture, Ong said, nor can the whereabouts of the facilities be revealed yet due to a non-disclosure agreement. Sunview in talks for renewable energy projects in Cambodia

Wentel Engineering Holdings Bhd is pricing its shares at 26 sen apiece in an ACE Market listing exercise worth RM83 million, comprising RM71.03 million to be raised by the company via an initial public offering (IPO), and an offer for sale of a 4% stake in the company by two shareholders for RM11.96 million. The valuation gives the metal fabricator a market capitalisation of RM299 million, based on an enlarged share capital of 1.15 billion shares upon listing on Feb 6. This also values the group at a price-earnings multiple of 14.61 times, based on its profit after tax (PAT) of RM20.48 million and earnings per share of 1.78 sen for the financial year ended Dec 31, 2022 (FY2022). Metal fabricator Wentel prices shares at 26 sen ahead of RM83 mil listing exercise