NEWS IN BRIEF: NOV 30, 2021

CHOO BEE METAL INDUSTRIES BHD’s net profit for the third quarter ended Sept 30, 2021, advanced to RM29.97 million from RM3.98 million in the same period last year.

Revenue rose to RM124.59 million from RM109.96 million previously, the group said in a filing with Bursa Malaysia today.

“The improved performance was contributed by both the trading and manufacturing segments on the back of higher average selling prices offsetting weaker sales volume,” it said.

-- BERNAMA

MLABS SYSTEMS BHD’s wholly-owned subsidiary, Mlabs Research Sdn Bhd (MRSB), has received a termination letter from XOX Media Sdn Bhd to terminate a memorandum of understanding (MoU) inked between the two parties due to the unforeseeable COVID-19 pandemic.

MRSB had entered into a MoU with XOX Media to collaborate with the aim of enhancing the functions of the Voopee mobile application by sharing and incorporating MRSB’s range of video conferencing and server technology to exploit the market that arises from XOX Media collaboration with Indonesia’s PT. Inovasi Telematika Nusantara and Pengurus Besar Nahdlatul Ulama.

In a filing with Bursa Malaysia today, Mlabs said the discussion on the business arrangement was put on hold as the business plan in Indonesia has been halted.

“The MoU shall be deemed terminated three months from Nov 30, 2021,” it said. 

-- BERNAMA

JAKS RESOURCES BHD’s net profit for the third quarter ended Sept 30, 2021, increased to RM31.85 million from RM26.75 million recorded in the same period last year.

Revenue, however, slipped RM30.56 million from RM63.16 million previously, the group said in a filing with Bursa Malaysia today.

It said the decrease in revenue was mainly due to the lower revenue recognised from the construction division.

-- BERNAMA

BERJAYA LAND BHD (B-Land) has set up a joint venture company with Landasan Lumayan Sdn Bhd (LLSB), a subsidiary of Menteri Besar Incorporation Selangor, to undertake river cleaning, river rehabilitation and river developments in the Klang Valley.

Under the joint venture company, called Landasan Lumayan Berjaya Sdn Bhd (LLB), B-Land and LLSB will hold 55 and 45 per cent equity interest in LLB, respectively, the group said in a filing with Bursa Malaysia today.

“Among the river Initiatives which LLB will undertake is the Selangor Maritime Gateway, a high economic impact project which will see approximately 242.81 hectares of land along about 56 kilometres of the Klang River to be developed over the next eight years.

“In 2022, LLB will launch the development of about 2,000 units of affordable housing and 1,400 units of other types, and by 2030, there would be about 26,000 housing units to be completed along the Klang River, of which 50 per cent would be affordable homes,” it said.

-- BERNAMA

CELCOM AXIATA BHD further strengthens its position within the ICT and cybersecurity industry with the acquisition of Bridgenet Solutions Sdn Bhd.

In a statement today, Celcom said the acquisition of Bridgenet, a leading information and technology solutions service provider specialising in cybersecurity and networking solutions as well as managed services for enterprises, reinforces Celcom’s portfolio of becoming one of the nation’s leading ICT solutions providers.

“Celcom and Bridgenet’s combined expertise will bring innovative and transformational cybersecurity solutions that are critical in protecting local organisations from cyber threats and security breaches,” it said.

-- BERNAMA