CORP BRIEF: Felda, KPHealthTech, KAB and HONG Seng

Felda extends offer for FGV to March 2

THE Federal Land Development Authority (Felda) has extended its RM1.30 a share offer to FGV Holdings Bhd’s shareholders to March 2, 2021, an FGV exchange filing yesterday noted. The acceptance period for the offer tabled by Felda was meant to close on Feb 16. Felda for the moment holds 72.34% of FGV shares, well short of that required to meet its delisting plan for FGV.

KPHealthTech bags contract for health kits to PT BMS

KPOWER Bhd’s wholly-owned subsidiary, KPower Healthcare & Technologies Sdn Bhd (KPHealthTech), accepted a RM48.64 million contract to supply airbag or breathing bag for GeNose and GeNose Covid-19 test machines from Indonesian company PT Biotech Maju Sejahtera (BMS). The contract is effective for 12 months from the acceptance date and will be governed under Indonesia’s laws. BMS will submit a written request for the supply of the airbag and GeNose Covid-19 kits by way of purchase order under the contract. The kits will then be delivered by KPHealthTech to BMS’ warehouse located in Bekasi, Indonesia. The Indonesian company will need to pay within 40 days from the date of the kits arrival at the warehouse.

KAB buys 80% in solar power venture

KEJURUTERAAN Asastera Bhd (KAB), an electrical and mechanical engineering services provider in Malaysia, through its wholly-owned subsidiary KAB Smart Solar Energy Sdn Bhd, is buying an 80% stake in Mayang Hijau Sdn Bhd (MHSB) for RM800,000 from Evergreen Thumb- sup Sdn Bhd and Heng Boon Liang. MHSB recently entered into a solar supply agreement to finance, design, construct, own and operate a 1.58MW peak solar photovoltaic (PV) energy generating system under the build-operate-transfer concept, KAB said in a statement yesterday. It is expected to start commercial operation by the third quarter of 2021. MHSB is also in the final stage of negotiations to secure a cumulative capacity of 10MW peak of contracts.

Hong Seng accepts RM45.6b job to develop latex plant

HONG Seng Consolidated Bhd’s wholly-owned subsidiary, Hong Seng Industries Sdn Bhd (HS Industries), secured a federal land at Kedah Rubber City worth RM45.5 million. The company has accepted a letter from Northern Corridor Implementation Authority to secure the land, which would be used for setting up a nitrile butadiene latex manufacturing plant, Hong Seng said in a statement yesterday. The contract was accepted on Feb 16 and it has a duration of 60 years, with an option to renew for a further period of 30 years. HS Industries had entered into a pre-contract agreement with PH2 Global Ltd to engage them to conduct a feasibility study in relation to the proposed project.