CORP BRIEF: MRCB, Maybank and Tropicana Corp

by TMR / Pic by MUHD AMIN NAHARUL

Wan Kamaruzaman boards MRCB board of directors

FORMER Retirement Fund (Inc) (KWAP) CEO Datuk Wan Kamaruzaman Wan Ahmad has been appointed as the independent non-ED on the board of Malaysian Resources Corp Bhd (MRCB). In a filing to Bursa Malaysia yesterday, the company said his appointment follows the departure of Datuk Mohamad Nasir Ab Latif from MRCB. Wan Kamaruzaman is currently holding directorships at Al-Aqar Healthcare REIT and Al-Salam REIT. He was the CEO of Affin Trust Management Bhd, Affin Fund Management Sdn Bhd and Affin Moneybrokers Sdn Bhd. He was appointed as KWAP CEO in 2013 and stepped down in 2018. KWAP is Malaysia’s largest public service pension fund with a total fund size of RM140.8 billion, making it one of the country’s key investment arms. Incorporated in 2007, KWAP manages investment portfolios, employer contributions and pension services.


Maybank to reschedule 61st AGM, says chairman

MALAYAN Banking Bhd (Maybank) has decided to reschedule its 61st AGM of shareholders, which was originally planned yesterday, owing to a technical issue faced by remote participation and voting facility provider Tri- cor Investor & Issuing House Services Sdn Bhd. In a statement yesterday, Maybank chairman Tan Sri Zamzamzairani Mohd Isa said a notice of the new meeting date will be announced to Bursa Malaysia in due course, and will also be made available on Maybank‘s website at www.maybank.com. He said the bank would like to convey its deepest apologies to all shareholders for the inconvenience and will be notifying them of the new meeting date in due course. “We appreciate that our shareholders had taken time to try to log in today (yesterday) to follow the proceedings of the meeting and wish to assure all of them that we will be reaching out to them to update them of the next meeting arrangements,” he said in a statement yesterday.


Tropicana Corp issues RM183m of sukuk bonds

TROPICANA Corp Bhd issued a sukuk wakalah of RM183 million in nominal value out of its RM1.5 billion Sukuk Wakalah programme, which has been affirmed a credit rating of A+IS with a ‘Stable’ outlook by Malaysian Rating Corp Bhd. In a stock exchange filing, the company noted that the sukuk wakalah, with tenures of five- and seven-year, has a senior ranking and is secured. The proceeds from the issuance of the sukuk wakalah will be utilised by the company for the repayment of existing financing/borrowings to the unencumbered, secured properties; and defraying fees, costs and expenses in relation to the issuance of the sukuk wakalah and Sukuk Wakalah programme. The remaining proceeds will be used for capital expenditures, working capital, borrowings and for general corporate purpose.

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