CORP BRIEF: SC, Bank Islam, KLK, Ireka and Fast Energy


SC issues cease-and-desist order to RimauSwap

THE Securities Commission Malaysia (SC) has issued a cease-and-desist order to RimauSwap for illegally operating a Decentralized Exchange (DEX). In a statement yesterday, the regulator said they will also seek the assistance of the Malaysian Communications and Multimedia Commission to block RimauSwap’s website. Additionally, RimauSwap has been placed on the SC’s Investor Alert List. DEX is a peer-to-peer exchange that allows individuals to swap digital assets directly with one another without an intermediary.

Bank Islam takes over BIMB listing status

BIMB Holdings Bhd will be delisted from the Main Market of Bursa Securities and Bank Islam Malaysia Bhd will assume the listing status of BIMB with effect from 9am today. In a filing to Bursa Malaysia yesterday, BIMB said Bank Islam will be assuming the existing stock short name, stock code and the international securities identification number code of BIMB, being “BIMB”, “5258” and “MYL5258OO008”, respectively. Distribution and capital repayment have been completed following the crediting of BIMB’s entire shareholding in Bank Islam and Syarikat Takaful Malaysia Keluarga Bhd into the respective accounts of the distribution-entitled shareholders held under the Central Depository System.

KLK’s acceptance offer extended until Oct 25

KUALA Lumpur Kepong Bhd (KLK) has extended closing time and date for the acceptance of the mandatory takeover for IJM Plantation Bhd shares to Oct 25, the company noted in a filing to Bursa Malaysia yesterday. KLK recently completed the acquisition of a 56.2% stake in IJM Plantations from IJM Corp Bhd.

Ireka secures Langkawi’s FTTH project

IREKA Corp Bhd’s wholly-owned subsidiary, Ireka Engineering & Construction Sdn Bhd, has been awarded a contract worth RM196 million by Fec Telco Sdn Bhd for the Fibre-to-the-Home (FTTH) connectivity project in Langkawi, Kedah. In a statement yesterday, Ireka Corp, which is a construction and property group, said the contract shall be undertaken in construction and engineering works, network, IT and services components.

Fast Energy ventures into solar PV system

FAST Energy Holdings Bhd’s wholly-owned subsidiary, Fast Solar Sdn Bhd, has entered into a solar power purchase agreement with Volta Energy Sdn Bhd, Apex Office Furniture Exporter Sdn Bhd and Apex Office Furniture Exporter Sdn Bhd (Apex Group) for Fast Solar to procure the construction of a solar photovoltaic (PV) system and supply electricity to Apex Group for an initial period of 25 years.