CORP BRIEF: DNeX, KAB, Scientex, Ulalive and Lagenda Properties

by TMR / pic credit:

DNeX’s planned purchase of SilTerra approved

DAGANG NeXchange Bhd (DNeX) received shareholders’ approval for the proposed acquisition of 60% equity interest in SilTerra Malaysia Sdn Bhd from Khazanah Nasional Bhd for a purchase consideration of RM163.8 million. Shareholders also approved the proposed diversification of DNeX’s principal activities to include the manufacturing, sale and marketing of semiconductor wafers, semiconductor-related tools and other related activities.

KAB inks collaboration agreement for RE project

KEJURUTERAAN Asastera Bhd (KAB) via its wholly owned subsidiary, KAB Energy Power Sdn Bhd (KABEP), inked a collaboration agreement with Janakuasa Pte Ltd to explore the renewable energy (RE) market in Vietnam. In a statement yesterday, KAB said a special-purpose vehicle will be formed by KABEP and Janakuasa, to acquire the majority stakes in three hydropower plant projects located in Vietnam, with an aggregate installed capacity of 180 megawatt.

Scientex’s net profit rises 57.8% to RM109.9m

SCIENTEX Bhd’s net profit rose 57.8% to RM109.9 million in the third quarter ended April 30, 2021 (3Q21), from RM69.6 million the previous year on all-round segment outperformance. This was achieved on the back of record quarterly revenue of RM976.8 million in 3Q21, growing 26.5% from RM772.2 million a year ago, on higher contributions from the group’s packaging and property development segments.

Malaysia’s Ulalive raises RM1.3m in pre-seed

MALAYSIA’S first live-streaming social media platform, Ulalive Sdn Bhd, raised the largest amount for pre-seed of US$300,000 (RM1.3 million) from angel investors. Developed by ReezBubble Technologies, Ulalive is offering built-in e-commerce solutions to local content creators. The funds raised will be directed towards product development, acquiring content creators as the platform’s early adopters and furthering a growth plan that will enable greater access to innovative e-commerce solutions.

Lagenda Properties acquires land in Kuantan

LAGENDA Properties Bhd via its wholly owned subsidiary, LPB Development Sdn Bhd, acquired 500 acres (202.34ha) of land parcel in Kuantan, Pahang, for a cash consideration of RM33 million which is approximately RM1.51 per sq ft. In a statement yesterday, the property developer said it intends to undertake a self-sustainable and affordable township development and a variety of facilities and public amenities.