CORP BRIEF: MTD ACPI, Mulpha International, Spring Art and Angkasa

by TMR / pic credit:

MTD ACPI unit gets JKR contract for RM33.4m

MTD ACPI Engineering Bhd’s wholly owned subsidiary, MTD Construction Sdn Bhd, has accepted a contract valued at RM33.44 million from the Public Works Department (JKR) to complete work related to a police training centre project in Bentong, Pahang. The contract shall be for a duration of 78 weeks commencing on Jan 12, 2021, and due for completion on July 11, 2022. It is not expected to contribute any significant financial impact towards the revenue and earnings of the group during the current financial year as most of the major works will start in the following financial year.

Mulpha International unit accepts RM1.1b loan

MULPHA International Bhd’s (MIB) unit Mulpha Australia (Holdings) Pte Ltd, a wholly owned subsidiary of MIB’s Mulpha Australia Ltd, has accepted a syndicated credit facility of RM1.07 billion from Oversea-Chinese Banking Corp Ltd and United Overseas Bank Ltd, both located in Australia. The purpose of the syndicated credit facility is to finance the refurbishment works at InterContinental Sydney Hotel and to refinance the existing borrowings.

Spring Art suspends factory ops over Covid-19 case

JOHOR-BASED furniture player Spring Art Holdings Bhd has confirmed that some of its employees have tested positive for Covid-19, resulting in the temporary suspension of operations at two factories. The ready-to-assemble furniture products maker said it is working closely with the Health Ministry to implement mitigating steps to contain the spread of infections among its workforce. Following this, the operations of Spring Art’s factories A and B and its administrative office have been temporarily suspended and shall resume on Jan 20, 2021, the company noted in a filing to Bursa Malaysia yesterday.

Angkasa aims to partner 14,000 co-ops by 2030

THE National Cooperative Movement of Malaysia (Angkasa) aims to establish strategic and premium business collaborations with about 14,000 cooperatives nationwide by 2030. Angkasa president and Asean Co-operative Organisation president Datuk Abdul Fattah Abdullah said to date, the organisation has secured 12 premium partners and 27 strategic partners throughout Malaysia. Angkasa added that the intention is to ensure about six million of its members will have a will with Angkasa through the addition of more business partners nationwide. So far, about 150,000 members have made wills and by 2030, Angkasa expects 60% would have signed up for one. Until December 2020, MyAngkasa Amanah Bhd managed estate administration cases with assets valued at RM87 million.