NEWS IN BRIEF: JUNE 30, 2022

WONG ENGINEERING CORPORATION BHD’s wholly owned subsidiary Wong Engineering Industries Sdn Bhd has entered into a sale and purchase agreement with 5N PV Malaysia Sdn Bhd for the acquisition of 31.45 square metres of industrial land in Kulim, Kedah for RM14.5 million.

In a filing with Bursa Malaysia today, the company said the acquisition is of the remaining 60-year lease expiring on Dec 31, 2056.

“The proposed acquisition is a strategic move for the group as the property is located adjacent to the group’s existing business premise and this would ease accessibility and management oversight of the expansion of the group’s business and operational activities,” it added.

-- BERNAMA

CAPITALAND MALAYSIA REIT MANAGEMENT SDN BHD (CMRM) has obtained approval from the Securities Commission Malaysia for the proposed change of shareholders/shareholdings in CMRM.

In a filing with Bursa Malaysia today, the company said CapitaLand Investment Ltd (CLI), which currently holds 70 per cent equity interest in CMRM, will exercise a call option to acquire the remaining 30 per cent equity interest in CMRM from Malaysian Industrial Development Finance Bhd.

“Upon completion of the call option, CMRM will become a wholly owned subsidiary of CLI,” it added.

-- BERNAMA

JADE MARVEL GROUP BHD’S (JMGB) indirect subsidiary Mutiara Dolomite Sdn Bhd (MDSB) has been appointed as RD Minerals Sdn Bhd’s (RDMSB) sole and exclusive distributor for the sale of all the dolomite and other minerals extracted from the site.

RDMSB has obtained the right from Koperasi Felda Rimba Mas Padang Besar Perlis Bhd to dredge, explore, excavate, extract, mine, carry away, supply, sell and deal with dolomite on the land located in Felda Rimba Mas Padang Besar (U) Perlis Mukim Titi Tinggi, Perlis.

“The agreement would enable MDSB to exclusively market and sell the products for its future revenue and earnings growth thus consequently improving the financial performance of the JMGB group,” it said in a filing with Bursa Malaysia today.

-- BERNAMA

FARM FRESH BHD’s (FFB) wholly owned subsidiary, The Holstein Milk Company (M) Sdn Bhd has acquired 3.25 hectares of freehold industrial land from THP Enstek Development Sdn Bhd for RM18.24 million.

In a filing to Bursa Malaysia today, Farm Fresh said the land is located at Bandar Baru Enstek, Negeri Sembilan.

“The proposed acquisition will be fully funded from FFB’s initial public offerings proceeds,” it added.

FFB plans to use the land for the establishment of a new manufacturing hub in the greater central region of Peninsular Malaysia to increase FFB’s existing production capacity for dairy and plant-based products, and new adjacent product offerings.

-- BERNAMA

MALAYSIA BUILDING SOCIETY BHD (MBSB) has appointed Datuk Nor Azam M Taib as the group chief executive officer (GCEO) of MBSB and its subsidiary companies including MBSB Bank Bhd effective July 1, 2022.

“Nor Azam was first appointed as the head of Business Banking of MBSB in November 2010,” the group said in a filing with Bursa Malaysia today.

-- BERNAMA