KUALA LUMPUR (Dec 2): Here is a brief recap of some corporate announcements that made the news on Friday involving Citaglobal Bhd, CelcomDigi Bhd, Maxis Bhd, Telekom Malaysia Bhd, YTL Power International Bhd, Axiata Group Bhd, Pansar Bhd, Apex Healthcare Bhd, Crest Builder Holdings Bhd and Sarawak Consolidated Industries Bhd.

Citaglobal Bhd, in which the Yang di-Pertuan Agong Sultan Abdullah Sultan Ahmad Shah is a substantial shareholder, has together with its consortium partner TIZA Global Sdn Bhd, executed a 40:60 joint development agreement with clean energy player Abu Dhabi Future Energy Company PJSC (Masdar) for a two-gigawatt solar farm project in Pahang for US$2 billion (RM9.75 billion). Under the deal, Citaglobal and TIZA will hold a 40% equity interest in the project, with the remaining 60% held by Masdar. The parties will put in funding for the project’s development’s cost — which will be determined later — in proportion to their stake in the project.

CelcomDigi Bhd via its wholly-owned Infranation Sdn Bhd, Maxis Bhd, Telekom Malaysia Bhd, YTL Power International Bhd’s 60%-owned YTL Communications Sdn Bhd and U Mobile Sdn Bhd will take up the equity stakes in the government-owned 5G network infrastructure outfit. The five mobile network operators inked the subscription agreements (SSAs) with Digital Nasional Bhd (DNB) and the Ministry of Finance Incorporated to subscribe to a 14% stake each in the network, while the remaining 30% will be retained by Putrajaya, accompanied by a golden share, according to Communications and Digital Minister Fahmi Fadzil. In exchange for the respective 14% stakes, each telco will inject RM233 million into DNB, which it would be used to meet DNB’s funding requirements.

After seven turbulent years in Nepal, Axiata Group Bhd is selling its stake in Ncell Axiata Bhd by disposing of its shares in Reynolds Holdings Ltd, which holds an 80% stake in Ncell Axiata, and exiting the country. “The group’s decision to withdraw from Nepal is based on a thorough evaluation of the prevailing business environment in Nepal, which led to the conclusion that continuing operations under the current conditions of unfair taxation and regulatory uncertainties was no longer sustainable for the group,” the group said. Axiata first entered the Nepal market in 2016, by acquiring Reynolds for US$1.365 billion, which effectively secured it an 80% equity interest and controlling stake in Ncell.

Pansar Bhd has secured a contract for road construction works in Sarawak valued at RM107.5 million. Its unit Perbena Emas Sdn Bhd received the contract from Jabatan Kerja Raya Sarawak. The scope of work includes the construction and completion of approach roads, comprising a new JKR R5 standard two-lane carriageway for the Sebuyau and Triso side. The contract period is 32 months and the project is scheduled to commence in December 2023.

Apex Healthcare Bhd has proposed to acquire industrial land in Melaka for RM66.5 million from Panasonic Appliances Refrigeration Devices Malaysia Sdn Bhd (PAPRDMY). It said the site is strategically located across the road and 400 metres from the current production site of its wholly-owned subsidiary Xepa-Soul Pattinson (Malaysia) Sdn Bhd. The proximity offers the advantage of lean management by minimising duplication of support services which will be required if expanded production facilities are constructed at a distant site. It plans to fund the purchase via a combination of internally generated funds and/or external borrowings.

Construction and engineering contractor Crest Builder Holdings Bhd has acquired the remaining 49% equity interest in its indirect subsidiary Unitapah Sdn Bhd for RM43.61 million, cash. Unitapah holds a 23-year concession to develop and maintain Universiti Teknologi MARA’s (UiTM) campus in Tapah, Perak. Crest Builder said the stake was acquired via its wholly-owned Crest Builder International Sdn Bhd from Detik Utuh Sdn Bhd, resulting in Unitapah becoming a wholly-owned subsidiary of Crest Builder International. Crest Builder expects the acquisition to facilitate the group’s strategy to strengthen its future earnings base and enhance its cash flow arising from the concession arrangement.

Bursa Malaysia Securities Bhd has reprimanded Sarawak Consolidated Industries Bhd (SCIB) and two of its former directors, Datuk Mohd Abdul Karim Abdullah and Rosland Othman, for failing to submit the group’s 2021 annual report within the approved timeline. The regulator also fined Mohd Karim, the group’s non-independent and non-executive chairman at the material time, and Rosland, its then managing director cum chief executive officer, RM27,000 each. Mohd Karim, 57, stepped down from the post of chairman in October 2022 and retired from the group’s board in December that year, while Rosland, 50, left the group in June this year. In a statement, Bursa said SCIB had failed to issue the annual report, including the audited financial statements and its auditors’ and directors’ report for the 18 months ended June 30, 2021 (AR 2021), on or before Oct 31, 2021. SCIB only issued AR 2021 on Jan 17, 2022, after a delay of about two months.