Corporate results: Rohas Tecnic and MRT

Rohas Tecnic acquires 40% stake in Vietnam-based PMV for RM41m
Rohas Tecnic Bhd’s indirect wholly-owned subsidiary, RBC Water Sdn Bhd, has entered into a share purchase agreement with certain Phu My Vinh Construction And Investment Corp’s (PMV) shareholders to acquire a 40% stake in the company for RM41.30 million. The PMV shareholders involved are Nguyen Vu Hien, Tran Thi Mai Tram, Le Van Xin, Nguyen Thi Thanh and Vo Minh Thanh. In an exchange filing last week, Rohas Tecnic said the acquisition will be funded via internally generated funds. It added the acquisition is part of the group’s strategy to extend its presence in water sector across Southeast Asia. The deal will also allow the group to diversify its revenue streams while maintaining engineering experience and capabilities.
 
MRT names new CEO  
Abdul Yazid Kassim, a former project director of Malakoff Corp Bhd, has been made the new CEO of  Mass Rapid Transit Corp Sdn Bhd (MRT Corp) effective Feb 1, 2019. In a statement yesterday, Finance Minister Lim Guan Eng noted Abdul Yazid has vast experience in the field of project management as well as construction and engineering contracts with about 10 years of experience working overseas as construction chief at Qatar Petroleum. He replaces Datuk Seri Shahril Mokhtar who stepped down at the end of last year on the conclusion of his contract. Abdul Yazid will have to oversee the management and execution of the Sungai Buloh-Serdang-Putrajaya Mass Rapid Transit (MRT2) project to ensure it is undertaken  within the time and cost stipulated.

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