KUALA LUMPUR (April 26): Here is a brief recap of some corporate announcements that made the news on Wednesday (April 26) involving Capital A Bhd, Petron Malaysia Refining & Marketing Bhd, TCS Group Holdings Bhd, Nestle Malaysia Bhd, Menang Corp (M) Bhd, Teladan Setia Group Bhd, Careplus Group Bhd, Borneo Oil Bhd, NWP Holdings Bhd, LGMS Bhd and Bahvest Resources Bhd.

Asia Digital Engineering (ADE), the engineering and maintenance subsidiary of Capital A Bhd, has secured an investment of US$100 million (RM446 million) from investment firm OCP Asia Ltd to expand its maintenance, repair and overhaul (MRO) business. The investment will be used for the construction and operationalisation of a new 14-line aircraft maintenance hangar facility in Sepang as well as ADE’s further business expansion, demonstrating the company’s commitment to achieving long-term growth and success, said Capital A chief executive officer Tony Fernandes.

Petron Malaysia Refining & Marketing Bhd announced a final dividend of 25 sen per share for the financial year ended Dec 31, 2022 (FY2022), subject to shareholders’ approval in the forthcoming annual general meeting. The dividend, with an ex-date of June 19, will be paid on July 4.

Datin Koh Ah Nee, the wife of TCS Group Holdings Bhd’s group managing director Datuk Tee Chai Seng, has resigned from her post as executive director “to pursue other personal interests”. Koh, 61, controls a 9.31% stake in TCS Group. Meanwhile, the company has appointed Sharon Chew Mun Hoong, 51, as the group’s independent and non-executive director. She has over 20 years of experience in the financial services and capital market industry.

Nestle Malaysia Bhd has announced the retirement of Datin Seri Azlin Arshad from the group’s board. She retired as an independent non-executive director with effect from Wednesday. Azlin, 49, had previously served as deputy chairman at Syarikat Takaful Keluarga Malaysia Bhd, senior vice president of Astro Malaysia Holdings Bhd and deputy chief executive officer of ECM Libra Financial Group Bhd.

Menang Corp (M) Bhd, which has been issued an unusual market activity query, said ongoing talks to build a digital hub in Negeri Sembilan, as well as potential land acquisitions in the state and Klang, Selangor, could be the reasons behind the surge in its share price and volume. The property development and management company said it is in discussions with the Negeri Sembilan state government via Invest NS on the development of a digital hub in the state.

Teladan Setia Group Bhd has inked a Memorandum of Understanding with Micro Energy Holdings (M) Sdn Bhd (MEH) to install solar photovoltaic systems in its Taman Bertam Heights Phase 2A Gated and Guarded housing development project in Melaka. The project is expected to be launched in the third quarter ending Sept 30, 2023 and to be completed by 2026.

Rubber glove maker Careplus Group Bhd is teaming up with an individual Woon Howl Chuen to venture into the renewable energy and energy efficiency management business, in a bid to provide an alternative source of income that will enhance the group’s profitability in the future. Careplus said the company and its wholly-owned subsidiary Masterclean Technologies Sdn Bhd had entered into a collaboration and option agreement with Woon for the proposed venture. He is granted an option to subscribe for an aggregate of up to 70,000 shares in Masterclean Technologies. No information was given on Woon. Under the deal, Careplus and Woon will subscribe for new Masterclean Technologies shares for RM1 apiece, which will result in Careplus’ equity interest in Masterclean Technologies reducing by 7.7% from 100% to 92.3%.

Sabah-based Victoria Capital Sdn Bhd, has resurfaced as a substantial shareholder of Borneo Oil Bhd after exiting the company in 2019. Victoria Capital bought 488.1 million shares or a 5.026% stake in the company on Wednesday.  Following the stake acquisition, Victoria Capital is now the company’s third largest shareholder after Lee Shing Hong Securities Ltd with a 12.96% stake and MT 23 Resources Ltd (5.34%), Bloomberg data showed.

Quah Seik Lee has ceased to be a substantial shareholder of NWP Holdings Bhd after divesting a 4.04% stake to the group’s executive director Tan Wye Chuan, who is also the son of chairman Datuk Tan Lik Houe. Quah sold the stake comprising 23.41 million shares to Wye Chuan in a direct business transaction on April 20. Quah, who surfaced as a substantial shareholder in June last year with an 8.7% stake, is the wife of  businessman Bryan Loo, who is the founder and chief executive officer of Loob Holding Sdn Bhd, which owns the bubble tea chain brand Tealive. After the latest transaction, Quah’s stake in NWP has come down to about 3.5% or 20.25 million shares. Wye Chuan’s shareholding, meanwhile, rose to 6.5% or 37.76 million shares, making him the group’s third largest shareholder after Wu Wai Kong (who owns an 8.6% stake) and Lik Houe (7.1% stake).

Japan’s Mitsui & Co Ltd has surfaced as a substantial shareholder of LGMS Bhd, with a 25% stake or 114 million shares in the ACE Market-listed cybersecurity specialist. Mitsui emerged as a substantial shareholder after it acquired 104.88 million shares on Wednesday. According to Bloomberg data, LGMS’ largest shareholders are executive chairman Fong Choong Fook (with a 53.86% stake) followed by his wife Goh Soon Sei (16.1% stake). Goh also sits on the group’s boardroom as executive director.

Sabah-based gold mining company Bahvest Resources Bhd has received an extraordinary general meeting (EGM) requisition from its shareholders to remove three directors — non-executive chairman Datuk Seri Dr Md Kamal Bilal, managing director and chief executive officer Datuk Lo Fui Ming and executive director Lo Teck Yong — from its board and replace them with three other individuals. The shareholders also request for the record of depositors to facilitate the circulation of notices of EGM to shareholders. “The board is  now convening an emergency board meeting and to seek legal advice in relation to the notices,” it added. As no notice of EGM has been circulated to shareholders, Bahvest said no proper EGM will be convened on May 25.