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BUSINESS

New in brief: Aug 11, 2022

11/08/2022 07:48 PM

GREATECH TECHNOLOGY BHD has entered into a memorandum of understanding (MOU) in relation to a proposed acquisition of 60 per cent equity interest in Kaon Automation Ltd, which would bring in Kaon Automation’s big pool of highly skilled professional expertise with futuristic technology in delivering transformational solutions.

In a filing with Bursa Malaysia today, Greatech said in the life science aspect, Kaon Automation specialised in pharmaceutical and medical devices industries, which included having vast experience in meeting stringent requirements of the world-class standard.

Executive director Datuk Tan Eng Kee said with the combined solid expertise of Kaon Automation and Greatech, both companies would leverage the strengths of each other both in the business aspect as well as in the internal cohesiveness environment.

-- BERNAMA

 

KEJURUTERAAN ASASTERA BHD (KAB) has secured a letter of intent (LOI) worth RM16.7 million from Land Marker Sdn Bhd, a subsidiary of Bon Estates Sdn Bhd, to undertake electrical services installation works for the proposed 44-storey Bon Kiara condominium project in Mont Kiara, Kuala Lumpur.

In a filing with Bursa Malaysia today, KAB said the scope of work involves the supply, delivery, installation, testing and commissioning of electrical services installation and pile cap lightning protection earthing.

“This would be carried out in the upcoming Bon Kiara development, featuring two condominium towers with a total of 410 residential units, a multi-level and basement car park and a clubhouse,” it said.

-- BERNAMA

 

KPOWER BHD has been granted an extension of time (EOT) from the Energy Commission Malaysia in relation to the development of 50 megawatt (MW) solar photovoltaic plant in Pahang by PKNP KPower Suria Sdn Bhd (PKSSB).

PKSSB is a subsidiary of KPower.

In a filing with Bursa Malaysia today, KPower said PKSSB has been granted EOT for the final closing date of the project to Sept 30, 2022 from June 30 2022; the scheduled commercial operation date to Dec 31, 2023 from Sept 30, 2023; and the tenure of the power purchase agreement (PPA) to 25 years from 21 years.

“PKSSB will execute a supplemental agreement with Tenaga Nasional Bhd to effect the aforesaid terms, where relevant, in the PPA,” it said.

-- BERNAMA

 

AGROBANK has signed a memorandum of understanding (MoU) with the Farmers Organisation Authority Malaysia (LPP) to manage and promote the takaful contributions of farmers across the country under the Farmers’ Family Smart Card Programme (Peladang-i) with a total allocation of RM5 million.

In a statement today, Agrobank said through the collaboration, the Ministry of Agriculture and Food Industries (MAFI) has allocated RM5 million to LPP, which would be channelled on a one-off basis to Agrobank to manage the takaful contributions of farmer members under the programme.

President/chief executive officer Tengku Ahmad Badli Shah Raja Hussin said Agrobank aimed to attract about 10,000 new LPP members to be registered under the programme and the bank would be in direct contact with area farmers’ organisation across the country for promotional purpose or counters opening to open Peladang-i accounts and Takaful protection registration for eligible members.

-- BERNAMA

 

PENTAMASTER CORPORATION BHD’s net profit for the second quarter ended June 30, 2022 increased to RM19.2 million as compared to RM17.94 million recorded in the same quarter last year.

Revenue rose to RM151.34 million from RM130.65 million previously, it said in a filing with Bursa Malaysia today.

It said the increase in the second quarter revenue was mainly due to an increase in contribution from the factory automation solutions (FAS) business segment by 26 per cent, which was largely driven by the demand from the medical devices segment within the FAS segment.

-- BERNAMA

 


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