KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
Genting Bhd has proposed a renounceable rights issue to raise gross proceeds of RM1.3bn, with RM800.0mn (64.0%) earmarked to repay borrowings and RM429.5mn (34.4%) for working capital.
Unisem (M) Berhad plans to invest RM396.0mn in the Phase 2 expansion of its Gopeng plant in Perak, comprising RM196.0mn for the construction of a new 40,000 sqm production facility and RM200.0mn for equipment and facilitisation works.
PMB Technology Bhd plans to invest RM650.0mn to build a silicon-aluminium alloy plant at Samalaju Industrial Park, Sarawak, as it diversifies away from its loss-making silicon metal business.
Astral Asia Bhd has entered into an MOU with HNG Capital Sdn Bhd for the proposed disposal of 2,433 acres of land at Kuantan Hi-Tech Park in Pahang for RM233.6mn.
EP Manufacturing Bhd has formed a 51:49 JV with Beijing-listed Hebei Shichang Auto Parts Co Ltd to invest RM100.0mn in a new plastic fuel tank manufacturing facility in Batang Kali, Selangor.
Ahmad Zaki Resources Bhd has reached an amicable settlement with AmBank (M) Bhd and AmBank Islamic Bhd over RM69.3mn in outstanding payments owed by its wholly owned subsidiary Ahmad Zaki Sdn Bhd.
Hektar REIT has terminated its proposed RM26.0mn acquisition of a 90.0% stake in Terramark Sdn Bhd, citing the sellers’ failure to fulfil several conditions precedent.
AIMAX Bhd has agreed to dispose of IF Security Solution Sdn Bhd and Premiumway Development Sdn Bhd to Datasonic Group Bhd for a combined RM15.1mn, as part of a settlement arrangement to partially repay outstanding debt.
Citaglobal Bhd has revised the purchase consideration for its proposed acquisition of a 70.0% stake in Zeqna Corporation Sdn Bhd to RM14.5mn from RM15.0mn.
NuEnergy Holdings Bhd has secured a RM10.1mn contract from KAB Energy Holdings Sdn Bhd for interconnection infrastructure works related to the 120MW Labuan Power Plant project.
Avangaad Bhd said brothers Datuk Seri Nazir Hussin Akhtar Hussin and Datuk Wira Mubarak Hussain Akhtar Husin have voluntarily gone on garden leave from their executive roles amid an investigation into their personal business interests.