CORP BRIEF: HB Global, K-One Tech, LTAT and JC3

by TMR / pic by TMR FILE

HB Global wins RM10m contract from Axiata

HB GLOBAL Ltd through its subsidiary, Forward Resources and Construction Sdn Bhd accepted a RM10 million project from Axiata Group Bhd’s subsidiary, On Site Services Sdn Bhd, for the supply, provision, installation and service of full turnkey fibre implementation works. In a filing to Bursa Malaysia yesterday, HB Global said the letter of offer will last for a year, with a commencement date to be decided later.

K-One Tech posts RM35m in revenue

K-ONE Technology Bhd’s recorded net profit of RM1.4 million in second quarter ended 30 June 2021 compared to a net loss of RM2.85 million posted a year ago. The company posted a revenue of RM35 million from RM19 million in the corresponding quarter last year on the back of an 84% growth surge in sales for the electronics manufacturing services (EMS) and Cloud Computing businesses. In a stock exchange filing yesterday, the electronics product developer said sales from the EMS business increased to RM21 million in the current quarter from RM12.2 million in the corresponding quarter last year.

LTAT appoints new chairman

THE Armed Forces Fund Board (LTAT) appoints new chairman General Tan Sri Raja Mohamed Affandi Raja Mohamed Noor (Retired) effective yesterday, replaced General Tan Sri Mohd Zahidi Zainuddin (Retired) after completing his service as LTAT chairman since August 2018. LTAT in a statement yesterday said Raja Mohamed Affandi will guide the board and the management to transform LTAT into a sustainable and competitive retirement fund. Raja Mohamed Affandi was appointed as the 19th Chief of Defence Forces on Dec 16, 2016. He retired in 2018 after serving the Malaysian Armed Forces for 42 years.

JC3 to advance initiatives in climate-related risk

THE Joint Committee on Climate Change (JC3) aims to advance initiatives to strengthen the financial sector’s capacity in managing climate-related risks. During its fifth meeting yesterday, JC3 said following the issuance of the Climate Change and Principle-based Taxonomy (CCPT) in April 2021, a CCPT Implementation Group will be established to support its consistent and credible implementation by financial institutions. JC3 members reviewed the progress of work undertaken to develop reference guides on climate risk management and scenario analysis, as well as climate-related disclosures, Bank Negara Malaysia and the Securities Commission said in a joint statement yesterday. The joint committee expects to publish the reference guides in the fourth quarter of this year.