KUALA LUMPUR (April 5): Here is a brief recap of some corporate announcements that made news on Wednesday (April 5) involving G Capital Bhd, Tek Seng Holdings Bhd, Signature International Bhd, Pestech International Bhd, Tanco Holdings Bhd, Deleum Bhd, Infomina Bhd, DRB-Hicom Bhd, Opcom Holdings Bhd, Classita Holdings Bhd, Ayer Holdings Bhd, KPJ Healthcare Bhd and Pecca Group Bhd.

G Capital Bhd has proposed to issue up to 1.41 billion redeemable convertible unsecured loan stocks (RCULS) at eight sen each on the basis of four RCULS for one existing ordinary share. The proposed rights issue will raise up to RM112.88 million under the maximum subscription level. Proceeds from the exercise will be used to part-finance project costs (from RM4.75 million up to RM100.42 million) and for working capital requirement.

Tek Seng Holdings Bhd is acquiring three parcels of freehold vacant land near its factories in Seberang Perai, Penang for RM33.96 million. Its subsidiary Wangsaga Industries Sdn Bhd (WISB) is acquiring a plot of land measuring 4.8765 hectares from Bagan Specialist Centre Sdn Bhd for RM26.98 million. WISB is also acquiring a land plot measuring 0.39 hectare for RM2.18 milliom, and another 0.86 hectare plot for RM4.8 million.

Signature International Bhd is acquiring a 45% stake in home furnishing company Zig Zag Builders (M) Sdn Bhd (ZZBSB) to diversify its customer base. Signature International said the purchase of the stake from ZZBSB’s director Foo Khai Shin for RM13.05 million is in line with its objective of acquiring strategic stakes in companies with potential for future growth. The group said the acquisition, which is expected to be completed by the second quarter of 2023, will be paid via internally-generated funds.

Pestech International Bhd has bagged an engineering, procurement, construction and commissioning contract worth up to A$2.23 million (RM6.61 million). The company’s wholly-owned subsidiary, Pestech Sdn Bhd (PSB), had received the countersigned formal instrument of agreement from Australia-based DT Global Asia Pacific Pty Ltd for the contract for the PNG Power Limited (PPL) Arawa Mini Grid, Autonomous Region of Bougainville in Papua New Guinea. It said that the contract is part of the Economic and Social Infrastructure Programme for PPL Arawa, and its practical completion is slated for Jan 10, 2024.

Tanco Holdings Bhd has aborted a plan to raise RM100 million through an allotment of 100 million redeemable preference shares (RPS) of RM1 each to the Social Security Organisation (Socso). Tanco said it received notification from Sosco of the parties' inability to finalise and execute the transaction documents on or before the cut-off date of March 31, 2023 and as prescribed in the terms of the supplemental term sheets.

ExxonMobil Exploration and Production Malaysia Inc has reappointed Deleum Bhd to provide slickline equipment and services for another four years, starting March 15. The contract was awarded to its wholly-owned Deleum Oilfield Services Sdn Bhd. Without stating the value of the contract, the group said it should contribute positively to its revenue, earnings and net assets during the contract duration.

Infomina Bhd has been appointed by the Companies Commission of Malaysia (SSM) to provide a platform for the public to search, extract and purchase data on companies and businesses registered with SSM. Infomina said the appointment is for six years, from March 31, 2023 till March 30, 2029. It did not disclose any value for the job. Instead, Infomina said it would charge a service fee, which will be based on the actual consumption on the platform.

DRB-Hicom Bhd’s 50.1%-owned Proton Holdings Bhd has sold 40,287 units in the first quarter of 2023 for a growth of 50.9% over the corresponding period last year, and is confident of maintaining its sales momentum in the coming quarters. In March, it achieved sales of 14,573 units — an increase of 3.8% compared with February — giving it an estimated market share of 18.7% and maintaining  its second place position in the sales table rankings. For the quarter, its market share is an estimated 21.2%.

Opcom Holdings Bhd, through its 60% wholly-owned subsidiary Opcom Vision Sdn Bhd, has mutually agreed with VC Telecoms Sdn Bhd to terminate its role as a project consultant for VC Telecoms, effective from Wednesday. The termination was due to a delay in the design and consultation for the data centre for the POP1 project, which is expected to expire on April 11.

Classita Holdings Bhd has reached a settlement with its substantial shareholder Datuk Seri Tee Yam @ Koo Tee Yam and former executive vice-chairman Jessie Wong Siaw Puie over a RM3.96 million advance the latter provided to the loss-making Perak-based lingerie and apparel maker. Classita said that the legal dispute between the parties was settled amicably without admission of liability and a consent judgement had been recorded.

Ayer Holdings Bhd has proposed a dividend of 20 sen per share for the financial year ended Dec 31, 2022 (FY2022), the highest by the group since FY2015, when it paid a dividend of 32 sen. Ayer on Feb 28 reported a net profit of RM35.14 million for FY2022, the highest since the RM43.93 million net profit reported for FY2015, on revenue of RM106.99 million.

KPJ Healthcare Bhd and Samsung Electronics Co Ltd have entered into a collaboration aimed at advancing precision medicine and diagnostics in Malaysia. The two groups plan to explore innovative technologies and collaborative opportunities over the next six months via a Memorandum of Understanding signed on Wednesday.

Pecca Group Bhd has reached a new milestone as the first and only Malaysian company to be certified by the European Union Aviation Safety Agency (EASA). The certification comes on the heels of Pecca’s wholly-owned subsidiary, Pecca Aviation Services Sdn Bhd (PASSB), receiving a production organisation approval (POA) certificate from the agency. Pecca said the POA, which is valid indefinitely unless revoked, certifies that PASSB is compliant with European Union regulations.