CORP BRIEF: Techna-X, Haily Group, Hup Seng Industries and MGB Bhd

by TMR 

Techna-X temporary ceases its coke biz

TECHNA-X Bhd’s wholly-owned subsidiary, Linyi Yehua Coking Co Ltd, has decided to temporarily cease its metallurgical coke business operations on or before Dec 31, 2021, until the metallurgical coke business improves and clearer visibility on the way forward can be established. In a filing to Bursa Malaysia yesterday, the company said the coke business which has been classified as “discontinuing operation”, remains in dire situation as it recorded a cumulative net loss of approximately RM59.1 million for the six months period ending June 30, 2021.

Haily Group wins RM24m residential project

HAILY Group Bhd’s wholly-owned subsidiary, Haily Construction Sdn Bhd, has secured a contract worth RM24 million from Gunung Impian Development Sdn Bhd for a terrace residential project in Tebrau, Johor Baru. In a statement yesterday, the group said the project comprises 159 units of single storey terrace houses, one unit of single chamber TNB substation and one unit of double chamber TNB substation. Work will commence on Oct 15, 2021, and is scheduled for completion by October 2022.

Hup Seng Industries unit temporarily suspends op

HUP Seng Industries Bhd’s wholly owned subsidiary Hup Seng Perusahaan Makanan (M) Sdn Bhd located at Batu Pahat, Johor, temporarily suspended its operations until Sept 30, 2021, to carry out disinfecting exercises on the premises as advised by the Ministry of Health. In a filing to Bursa Malaysia yesterday, the company said the temporary suspension is expected to result in loss of production volume estimated to be approximately 3% of the total annual production volume of the group.

MGB Bhd secures RM5m contract

MGB Bhd’s wholly-owned subsidiary, MGB Construction & Engineering Sdn Bhd, has entered into a Turnkey Construction Agreement with Retro Court Sdn Bhd for the appointment of MGBCE as turnkey contractor from RM5 million. In a filing to Bursa Malaysia yesterday, the company said it will undertake the entire design, financing, construction and completion, sales and marketing and credit administration in Kemaman, Terengganu.