CORP BRIEF: Freight, MSM Johor, BCorp and MBAM

by TMR / pic credit:

Freight’s trustees approve 279m bonus issue

FREIGHT Management Holdings Bhd’s shareholders approved the company’s proposed bonus issue at its EGM yesterday. In a statement, the company said the proposed bonus issue entails the issuance of 279 million bonus shares on the basis of one bonus share for every one existing share held by entitled shareholders. The bonus shares will be issued as fully paid, at no consideration and without capitalisation of the company’s reserves.

MSM Johor resumes sugar refinery operation

MSM Sugar Refinery (Johor) Sdn Bhd (MSM Johor), a wholly owned subsidiary of MSM Malaysia Holdings Bhd, completed its boiler rectification work. All the necessary approvals from relevant authorities and regulatory bodies were obtained as the work and procedure had been certified to be in full compliance with the standard industry requirements and policies particularly in the aspects of safety and quality. MSM Johor is expected to resume sugar production and packing on Friday.

BCorp announces changes in the boardroom

BERJAYA Corp Bhd (BCorp) announced several changes in its boardroom effective yesterday. These changes include appointment of five new independent non-ED to the board namely, Sunita Mei-Lin Rajakumar, Leong Kwei Chun, Hisham Bin Othman, Norlela Binti Baharudin and Tan Peng Lam. The group also redesignated executive deputy chairman Robin Tan Yeong Ching, who relinquished his executive role and moved to a non-independent non-executive deputy chairman role, in line with the group’s transformation process and succession planning. The new line-up and changes in the BCorp boardroom reflect a total of 14 members of the board of directors, with eight female directors representing 57% of female representation, far exceeding the 30% recommended under the Malaysian Code on Corporate Governance.

MBAM urges govt to defer introducing new policies

The Master Builders Association Malaysia (MBAM) has appealed to the government to defer the introduction of new policies that will further increase the cost of doing business during this trying period. The association also urged the government to provide a waiver of levy for foreign workers renewing their work permits and an extension of the permit approval for those stuck in their home countries and unable to enter during lockdown and those who would overstay due to the movement restrictions imposed. — Bernama