CORP BRIEF: M&G, Maybank, Ta Win and Cahya Mata

By TMR

M&G not classified as PN17 despite triggering criteria 

MARINE and General Bhd (M&G) has triggered suspended criteria and is not classified as a PN17 listed issuer following the relief measures, as the shareholders’ equity of M&G on a consolidated basis is 25% or less of its share capital, and material uncertainty related to concern in the latest financial statement for the financial year ended April 30, 2021. In a filing to Bursa Malaysia yesterday, the group posted a net loss of RM17.18 million for its first quarter ended July 31, 2021. Its revenue contracted by 19.2% to RM44.66 million against the previous year’s RM55.29 million, as a result of the oil and gas industry weakness due to severe shrinking demand of oil arising from the pandemic.

Maybank appoints Khalijah as group CFO 

MALAYAN Banking Bhd (Maybank) appointed Khalijah Ismail as its group CFO effective today. Khalijah has been the acting group CFO since June 29, 2021, following the resignation of Datuk Amirul Feisal Wan Zahir to take up the position of Khazanah Nasional Bhd MD. Khalijah obtained her professional qualification with the Association of Chartered Certified Accountants, UK in 1989, after which she served in Ernst & Young and then Datapower Sdn Bhd before joining Maybank in 1991.

Ta Win terminates RR One’s partnership 

TA WIN Holdings Bhd terminated its memorandum of understanding with RR One Capital D O O yesterday as the parties were unable to conclude the discussions with details and terms of the joint venture (JV). The company will no longer be pursuing the proposed JV with RR One to explore potential collaboration opportunities in the application of smart contracts on blockchain technology in the infrastructure development of electric vehicle charging stations and integrated charging ecosystem.

Cahya Mata Sarawak appoints new chairman 

CAHYA Mata Sarawak Bhd (CMS) appointed Tan Sri Mohd Zahidi Zainuddin as group chairman, taking over from Tan Sri Abdul Rashid Abdul Manaf who is retiring from the board to focus on his other business interests. In a filing to Bursa Malaysia yesterday, the company said Mohd Zahidi, who was appointed to the board on Aug 9, 2021, has been on several esteemed boards of many public and private companies. He currently also sits on the boards of Genting Plantations Bhd, Genting Malaysia Bhd, Bin- tang Capital Partners Bhd, and One World Group Holdings Bhd. 

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