NEWS IN BRIEF: JULY 30, 2021

CN ASIA CORPORATION BHD’s memorandum of understanding (MOU) with Intcys Sdn Bhd to form a women’s digital banking business consortium has lapsed.

“The date for submission of the relevant application to Bank Negara Malaysia and the formation of the consortium to submit the application within the requisite timeline under the MOU has passed.

“Hence, the non-binding MOU has been automatically invalidated,” the company said in a filing to Bursa Malaysia today.

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CN Asia said the invalidity of the MOU would not have any material effect on the company.

-- BERNAMA

G CAPITAL BHD (GCap) has signed a memorandum of understanding (MOU) with KOP Mantap Bhd to collaborate on the development of renewable energy, focusing on solar power.

“The agreement was to set forth mutual intentions to establish a framework for collaboration in respect of business opportunities and potential business ventures, including to develop plots of land with high sun exposure for purposes of constructing, developing and operating solar photovoltaic plants to generate electricity,” GCap told Bursa Malaysia.

KOP Mantap is a wholly-owned subsidiary of the Royal Malaysia Police cooperative.

“The MOU shall come in force on the execution date and shall continue for a duration of two years and may be extended for a further period of one year or such other period mutually agreed by the parties,” GCap said.

-- BERNAMA

YTL HOSPITALITY REIT’s net profit rose to RM82.83 million in the financial year ended June 30, 2021 against RM9.59 million in the year before.

Its revenue decreased to RM326.28 million in 2021 from RM426.45 million in 2020, the hospitality real estate investment trust said in a stock exchange filing to Bursa Malaysia.

In the fourth quarter, the company recorded a net profit of RM94.93 million against a net loss of RM123.16 million in the same quarter a year ago, while revenue increased to RM89.39 million from RM69.77 million previously.

-- BERNAMA

CHIN TECK PLANTATIONS BHD has declared a second interim single tier dividend of eight sen per share for its financial year ending Aug 31, 2021 

The palm oil company also announced a special single tier dividend of 11 sen per share.

Both dividends will be paid on Aug 30, the company said in a filing to Bursa Malaysia today.

-- BERNAMA