CORP BRIEF: SCIB, Malakoff, Gas Malaysia, Solarvest and FGV


SCIB secures RM13.3m EPCC contract

SARAWAK Consolidated Industries Bhd (SCIB) announced that its wholly-owned subsidiary, SCIB Industrialised Building System Sdn Bhd (SIBS), has secured a RM13.28 million engineering, procurement, construction and commissioning (EPCC) contract. In a filing to Bursa Malaysia yesterday, the concrete pipe manufacturing group said SIBS has accepted the letter of award and acceptance from Sarawak Public Works Department for the redevelopment of two schools in Sibu. The group added that the formal agreement for the contract shall be executed in due course. The redevelopment projects are expected to take eight months to complete from October 2021 to June 2022. According to SCIB, the contract secured is expected to contribute positively to SCIB’s future earnings over the duration of the contract.

Malakoff, Gas Malaysia in O&M partnership

MALAKOFF Corp Bhd and Gas Malaysia Bhd have formed a strategic partnership to provide operations and maintenance (O&M) for cogeneration plants in Malaysia. Through the joint-venture agreement signed yesterday, the two companies will establish a JV company called Malakoff-Gas Malaysia Cogen O&M Sdn Bhd. Through this JV, Malakoff’s subsidiary Malakoff Technical Solutions Sdn Bhd (MTS) will hold a 51% equity interest and the remaining will be owned by Gas Malaysia’s wholly-owned subsidiary, Gas Malaysia Ventures 1 Sdn Bhd, they said in a joint statement. MTS is a full-fledged global O&M service provider for power and water desalination plants and has established its footprint in Malaysia, Asean and MENA (the Middle East and Northern Africa). — Bernama

Solarvest completes transfer to Main Market

SOLARVEST Holdings Bhd, a clean energy specialist, has transferred its listing status to Bursa Malaysia’s Main Market, becoming the first pure-play solar company in the market. In a statement yesterday, the listing status allows the group to raise funds for future expansion. As at Aug 30, 2021, Solarvest had a public shareholding spread of about 36.9%, comprising 13,293 public shareholders holding not less than 100 ordinary shares each, which exceeds the minimum requirement of 25% public shareholding in the hands of 1,000 public shareholders.

FGV eyeing 3.5% local fragrant rice market share

FGV Holdings Bhd aims to capture a 3.5% share of the local fragrant rice market by the end of 2025, under the group’s household brand, SAJI. In a statement yesterday, FGV said this would be made possible with the implementation of the Fortified Field Fragrant Rice programme by its subsidiary, FGV Integrated Farming Holdings Sdn Bhd.