CORP BRIEF: Scientex, Gabungan AQRS, Barakah Offshore and RBTR

Scientex to raise affordable home offerings in Penang

SCIENTEX Bhd is increasing its affordable home offerings in Penang with its landbank in the state expected to expand to 523 acres (211.65ha), as its subsidiaries proposed to acquire 343 acres of freehold agricultural land in North Seberang Perai for RM246.7 million. In a statement yesterday, the company said its wholly-owned subsidiaries Scientex Quatari Sdn Bhd and Scientex (Skudai) Sdn Bhd entered into two separate sales and purchase agreements with Sunrich Con- quest Sdn Bhd and Titanium Greenview Sdn Bhd respectively for the proposed acquisitions of three pieces of freehold agricultural lands located in North Seberang Perai, Penang. This proposed acquisitions follow Scientex receiving over-whelming demand for its maiden Penang township in Tasek Gelugor, of which the first phase was officially launched in October 2020.

Gabungan AQRS welcomes shareholder Kamisah

GABUNGAN AQRS Bhd (GBG) announced that Datuk Kamisah Johan has joined the group as a substantial shareholder yesterday. In a filing to Bursa Malaysia yesterday, the company noted that Kamisah had acquired 49,342,852 GBG shares in a private placement exercise, equating her shareholdings in the company to 9.1%. Kamisah, a Malaysian aged 44, is the founder and group executive chairman of Rembawang Holding Sdn Bhd. She is a self-made entrepreneur and has more than 10 years of experience in the property sector.

Barakah gets 75% vote on debt settlement

BARAKAH Offshore Petroleum Bhd announced the Court Convened Meeting of PBJV Group Sdn Bhd’s proposed debt settlement was well received by creditors. In a filing to Bursa Malaysia yesterday, Barakah noted that PBJV creditors have in general backed the proposed debt settlement plan and now PBJV shall be making an application to the Court pursuant to Section 366(3) and (4) of the Companies Act 2016 for the Court’s approval of the approved proposed debt settlement.

RBTR, 5 others to pay over RM13m in restitution

THE Kuala Lumpur High Court had ordered RBTR Asset Management Bhd and five other defendants to pay RM13.35 million in restitution for their role in the Euro Deposit Investment (EDI) scheme on March 30, 2021, the Securities Commission Malaysia (SC) said. In a statement yesterday, the SC said the court ordered the defendants’ assets to be traced and paid to the SC to compensate the EDI scheme investors. It said the court has also declared that RBTR — formerly an SC-licensed fund manager before its Capital Markets Services Licence was revoked on May 17, 2012 — had breached its obligations and/or duties under the fund manager guidelines and failed to conduct due diligence to safeguard investor monies.