2 days Ago
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Axiata Group Bhd has extended the longstop date for completing the divestment of its Myanmar tower business to 30 June 2025. MR DIY Group (M) Bhd founder and major shareholder Tan Yu Yeh will step down as executive vice chairman to become group adviser.
Malaysia Smelting Corp reported delivery disruptions from its Port Klang smelter following a gas supply interruption caused by a pipeline explosion in Putra Heights, Selangor. Ho Hup Construction Co Bhd 's subsidiary has been ordered to pay RM7.4mn to a contractor following an adjudication decision related to a payment dispute.
OM Holdings Ltd has completed a refinancing exercise via its wholly owned subsidiaries, OM Materials (S) Pte Ltd and OM Materials (Sarawak) Sdn Bhd, securing a US$168mn syndicated debt facility alongside US$136mn in bilateral working capital and bank guarantee facilities. Radium Development Bhd is entering the healthcare sector via its wholly-owned unit, Radium Healthcare Sdn Bhd, which owns A Famosa Specialist Hospital (Malacca) Sdn Bhd. KKB Engineering Bhd has received a favourable adjudication outcome in its dispute with a contractor over RM10.
1mn in outstanding claims. Lianson Fleet Group Bhd has proposed to dispose of its vessel, Icon Azra, to P&O Maritime Offshore AHTSV FZE for US$6.9mn (RM30.
73mn) in cash. Verdant Solar Holdings Bhd, a rooftop solar panel installer, is seeking a listing on the ACE Market of Bursa Malaysia to fund its expansion, including new branches, M M&A activities, and digital infrastructure upgrades..
