by TMR / pic by TMR FILE

Ivory Properties to raise RM14.2m in private placement

IVORY Properties Group Bhd plans to raise about RM14.21 million in a proposed private placement of up to 20% of the total number of issued shares of the company. In a filing to Bursa Malaysia yesterday, the company said based on the indicative issue price 14.5 sen per placement share, the gross proceeds from the proposed private placement will be for repayment of bank borrowings, working capital and other estimated expenses. — Bernama

Yinson invests in energy storage solutions firm

YINSON Holdings Bhd’s Singapore-based unit, Yinson Venture Capital Pte Ltd, has invested in Sterling PBES Energy Solutions Ltd, a Canada-based energy storage solutions company, to lower or eliminate dependence on fossil fuels in marine and industrial applications. In a statement yesterday, the group said the investment by Yinson Venture Capital, which is wholly owned by Yinson Green Technologies Pte Ltd (YGT), fits firmly in YGT’s strategy of investing in the marine electrification area. It also closely aligns with the group’s climate goals of achieving carbon neutrality by 2030 and net zero by 2050.

Kimlun sets up sukuk programmes

KIMLUN Corp Bhd is setting up an Islamic commercial papers (ICP) programme and an Islamic medium-term notes (IMTN) programme with a combined limit of up to RM800 million. In a filing to Bursa Malaysia yesterday, it said the ICP programme had a tenure of up to seven years commencing from the date of the first issuance of the ICP while the IMTN programme’s tenure was perpetual. Proceeds raised from the sukuk Murabahah will be utilised by Kimlun and/or its subsidiaries for Shariah-compliant general corporate purposes of the group. — Bernama

Khazanah’s unit seeks listing on Main Market

KHAZANAH Nasional Bhd-backed Farm Fresh Bhd (formerly known as Holstein Milk Company Sdn Bhd) has filed a draft prospectus on Securities Commission Malaysia’s website. According to the draft IPO prospectus, Farm Fresh proposes to issue 743.18 million ordinary shares on the Main Market of Bursa Malaysia Securities Bhd. It comprises an offer for sale of up to 520.23 existing shares and 222.95 new shares. Of the total 743.18 million shares, up to 687.44 million shares offered to Malaysian and foreign institutional and selected investors, including Bumiputera investors approved by the Ministry of International Trade and Industry, at the institutional price to be determined by way of book building. While the remaining 55.74 million shares will be offered to retail investors.