CORP BRIEF: MMC Corp, Serba Dinamik, Boustead, Sloarvest and Impiana

by TMR / graphic by MZUKRI MOHAMAD 

MMC Corp’s SCR to be tabled in EGM

THE selected capital reduction exercise for MMC Corp Bhd proposed by major shareholder Seaport Terminal (Johore) Sdn Bhd (STJSB) will be tabled at the MMC’s forthcoming EGM for consideration and approval. The proposed selective capital reduction (SCR) will entail a cash repayment of RM2.94 billion or RM2 per share. The proposed SCR will be funded by way of an advance from the STJSB. MMC noted that the proposed SCR will provide greater flexibility to the group in managing and developing its existing businesses while exploring opportunities without regulatory restrictions and compliance costs associated with its listing status.

Serba Dinamik to appoint Nexia SSY

SERBA Dinamik Holdings Bhd announced that Nexia SSY PLT has received the professional clearance from KPMG PLT in accordance with Section 320 By-Law of the Malaysia Institute of Accountants. In a filing to Bursa Malaysia yesterday, Sarawak Consolidated Industries Bhd said Nexia SSY, which has given its consent to act as auditors on Tuesday, has been appointed as the statutory auditors of the company on even date.

Khaled Nordin resigns as Boustead chairman

DATUK Seri Mohamed Khaled Nordin resigned as the non-independent, non-executive chairman of Boustead Holdings Bhd effective today. In a statement yesterday, he said he extended his appreciation to board members and management for the corporation given to him during his tenure as chairman/director of the company. In a filing to Bursa Malaysia Khaled, 62, stated he’s pursuing other interests.

Sloarvest wins PV plant contract for RM66m

SOLARVEST Holdings Bhd secured a RM66 million contract, its third win in one month, from Grooveland Sdn Bhd to develop a largescale solar photovoltaic (PV) plant in Mukim Bota, Perak. In a filing to Bursa Malaysia yesterday, the company said the group will undertake the main engineering, procurement, construction, and commission works for the 17.36MW solar farm.

Impiana to manage Petronas’ new campus

IMPIANA Hotels Bhd’s wholly owned subsidiary, Impiana Hotels & Resorts Management Sdn Bhd, has received a letter of award from Petronas Management Training Sdn Bhd for the provision of hospitality management services to manage the operational matters of Petronas’ new campus located in Bangi, Malaysia. The contract period will be for five years, starting from Aug 1, 2021.