CORP BRIEF: TNB Genco, Microlink, UWC and NCT Alliance

by TMR / graphic by MZUKRI MOHAMAD

TNB Genco to develop hydroelectric power plant in Kelantan

TENAGA Nasional Bhd’s (TNB) wholly owned subsidiary, TNB Power Generation Sdn Bhd (TNB Genco), had received a letter of notification from the Ministry of Energy and Natural Resources to develop a 300 megawatts hydroelectric power plant in Kelantan. In a filing to Bursa Malaysia, TNB said the letter of notification requires TNB Genco to fulfil certain requirements prior to the execution of the project. As conditioned by the government, TNB Genco has incorporated a wholly owned project company named TNBPG Hydro Nenggiri Sdn Bhd to undertake the project. The construction works of the project are estimated to take five years and its expected scheduled commercial operation date is June 1, 2027. — Bernama

Microlink to raise RM58m via private placement

MICROLINK Solutions Bhd is expected to raise gross proceeds of up to RM58.22 million via a proposed private placement of up to 10% of the total number of issued shares in the company. The proceeds would be used for its working capital and future working capital. It added the proposed private allows the company to raise funds based on market conditions. The company will be seeking shareholders’ approval in the upcoming AGM to be held on Sept 29. — Bernama

UWC posts RM19m gain in 4Q21

UWC Bhd posted a net profit of RM19.55 million in the fourth quarter of 2021 (4Q21) ended July 31, 2021, from RM18.65 million in the same quarter last year. Its revenue also increased to RM63.94 million compared to RM61.41 million last year due to its involvement in the life science and medical technology industries and continued global demand from the semiconductor industry. In a filing to Bursa Malaysia, the company said it is optimistic about its upcoming quarters, driven by increasing enquiries from its existing and potential customers, as well as the expected growth from the semiconductor market by 25.1% in 2021.

NCT Alliance posts RM9.5m net profit for 2Q21

NCT Alliance Bhd (formerly known as Grand-Flo Bhd) recorded a net profit of RM9.5 million in the second quarter ended June 30, 2021 (2Q21), compared to a deficit of RM400,000 in the previous year’s corresponding quarter. This was achieved on the back of higher revenue of RM49.2 million, up by 161% compared to RM18.9 million in the same quarter last year. For the first half of the financial year, the group recorded a higher net profit of RM9.6 million, which has already exceeded 70% of the net profit of RM5.6 million recorded for the last full financial year, on the back of an improved revenue of RM64.7 million.