CORP BRIEF: MMSVS, Berjaya, Magna Prima and Datasonic

pic by MUHD AMIN NAHARUL

MMSVS bags 3-year contract from MedcoEnergi

UZMA Bhd’s wholly-owned Thailand-based subsidiary, MMSVS Group Holdings Co Ltd, received a contract from Medco Energi Thailand (Bualuang) Ltd (MedcoEnergi). The three-year contract is to conduct provision of hydraulic workover unit services (call-out) projects for Bualuang Field. The contract was issued on March 5, 2021.

Berjaya Corp partners New World Capital

BERJAYA Corp Bhd partnered New World Capital Advisors Ltd, a leading London- headquartered merchant banking and investment company to establish New World Capital Advisors Sdn Bhd. In a filing to the stock exchange yesterday, the company noted it will take a 40% stake in the partnership amounting to RM2 million.

Magna Prima’s net loss widens in 4Q20

MAGNA Prima Bhds net loss widened to RM136.29 million in the fourth quarter ended Dec 31, 2020 (4Q20), compared to a 4Q19 net loss of RM12.02 million, the company noted in a filing to Bursa Malaysia yesterday. However, the company’s revenue increased to RM12.53 million from RM7.1 million posted in 4Q19. The net loss was due to a downward revaluation of JKCC Mall and Shopping Centre in Jalan Kuching, Kuala Lumpur, and additional provision for tax assessment and penalties in the prior year as a result of tax audit by the Inland Revenue Board. The group intends to continue to focus on inventory sales in Boulevard Business Park in Jalan Kuching. Meanwhile, it has also identified two of its properties in Jalan Kuching and Shah Alam, Selangor, for disposal which is expected to generate sufficient working capital and reduce group borrowings.

Datasonic not involved in deputy MD’s corruption trial

DATASONIC Group Bhd has clarified that it is not involved in the corruption charge faced by its deputy MD Chew Ben Ben in relation to a subcontract for ship chartering for oil mining work. In a filing to the stock exchange yesterday, the company referred to the legal charge against Chew over an alleged bribe of RM321,350 paid last year in relation to a subcontract for ship chartering involving Pristine Offshore Sdn Bhd, where Chew is a 49% shareholder. It noted that Datasonic is not involved in the said subcontracting, either directly or indirectly and neither has the company benefitted in whatever form from the said workboat chartering accommodation business. The company also added that the mentioned charge is strictly related to Chew’s private investment company in the workboat chartering accommodation business, which is not related to any of the company’s businesses.