CORP BRIEF: Censof, Southern Cable, Brite-Tech and Euro Holdings

by TMR / pic by TMR FILE

Censof bags IRB’s RM8m ICT work-related deal

CENSOF Holdings Bhd bagged a RM7.8 million contract from the Inland Revenue Board (IRB) for information and communications technology (ICT) work-related services. In an exchange filing yesterday, Censof said its unit, Century Software (M) Sdn Bhd, has accepted a letter of award from IRB on Tuesday for a contract named “Kontrak LHDNM IP (ICT) BIL18/2020: Perkhidmatan Penyelenggaraan Perisian, Aplikasi, Perkakasan dan Pembaharuan Lesen Sistem Perakaunan Hasil (eRAS) Di Lembaga Hasil Dalam Negeri Malaysia”. The tenure of the contract is for a period of three years commencing from Nov 19, 2020, to Nov 18, 2023. Censof said the board is of the opinion that the contract will contribute positively to the earnings per share and the future earnings of Censof Group, bearing any unforeseen circumstances.

Southern Cable IPO oversubscribed by 10.5 times

SOUTHERN Cable Group Bhd’s IPO on Bursa Malaysia ACE Market for the public portion has been oversubscribed by 10.5 times. In a statement yesterday, the company said it received a total of 10,308 applications for 459 million shares with a total value of RM156.1 million. The public tranche entails a total of 40 million shares for application by the Malaysian public under the group’s IPO scheme. Southern Cable’s orderbook stood at RM405.4 million as at Sept 1, 2020, which includes contracts secured from the essential services sector such as Tenaga Nasional Bhd and Telekom Malaysia Bhd.

Brite-Tech buys land in Klang for RM10.3m

BRITE-Tech Bhd’s wholly owned subsidiary, Brite-Tech Corp Sdn Bhd, bought two pieces of freehold land in Kapar, Selangor, for RM10.26 million. In a filing yesterday, the group added that its subsidiary entered into a separate sale and purchase agreement with HST Development Sdn Bhd and Damai Properties Sdn Bhd. Brite-Tech said the acquisition will be funded through a combination of bank borrowing and internally generated funds. The acquisition will allow the group to accumulate strategic industrial land for property investment and development purposes as the two lands are located in a prime location with positive potential within the Klang area.

Euro Holdings offers bonus issue of 535m new shares

EURO Holdings Bhd proposed a bonus share issuance to reward its shareholders, on the basis of two bonus shares for every one existing share held at an entitlement date to be fixed. The proposed exercise will involve the issuance of 534.6 million bonus shares, the company said in a stock exchange filing yesterday. The issuance is aimed at improving the trading liquidity and marketability of the company’s shares while increasing its capital base and offering a more affordable bonus issue to appeal to a wider group of public shareholders and investors.