CORP BRIEF: CMS, Sanichi, United Plantation and DNex


Conflict of interest allegations in CMS

CAHYA Mata Sarawak Bhd (CMS) reported to the authorities allegations of conflict of interest involving director and deputy group chairman Datuk Seri Mahmud Abu Bekir Taib and former CIO Karl Vink @ Khalid Abdullah. In a filing to Bursa Malaysia, the company said the allegations were received through the group’s whistleblower channel. Upon receipt of the whistleblower complaints, before reporting to the authorities, the board acted immediately to carry out a full investigation to discharge its fiduciary duties to protect the best interest of the company and all stakeholders. In order to facilitate a full and transparent investigation by the authorities, Mahmud has voluntarily taken leave of absence from all his positions in the group.

Sanichi to make gloves with RM41.5m investment

SANICHI Technology Bhd plans to diversify into the rubber glove industry with a plan to instal and commission up to 15 double former glove-dipping lines in phases over the course of 36 months to manufacture medical grade nitrile gloves. It is expected to yield a production capacity of over 3.11 billion pieces per annum. The estimated total capital and investment outlay required for the installation and commissioning of six double former glove-dipping lines is RM41.5 million, while RM86.5 million for 15 double former glove-dipping lines.

United Plantations records lower earnings in 1Q

UNITED Plantations Bhd’s net profit fell 7.84% to RM74.83 million in the first quarter ended March 31, 2021 (1Q21), from RM81.19 million a year ago. In a filing to Bursa Malaysia yesterday, the group said the lower net profit was due to the negative returns from investment in the unit trust fund, due to the increase in the market yield of the government bonds invested in by the unit trust fund during the current quarter. The group also posted a lower earnings per share of 18.04 sen from 19.57 sen previously. However, its quarterly revenue increased 25.32% to RM399.65 million from RM318.91 million in the corresponding quarter, contributed by revenues from the plantation and refinery segments.

DNeX appoints Azlan as e-services group CEO

IT AND trade facilitation services company, Dagang NeXchange Bhd (DNeX), has appointed Azlan Zainal Abidin as its group CEO for IT and e-services, effective May 3, 2021. In a statement yesterday, the company said Azlan will be responsible for the overall operations of the group’s IT business segment, and instrumental in providing leadership and overseeing implementation of the group’s strategies. — Bernama