CORP BRIEF: GHL, KNM, Kerjaya Prospek and Parkson

by TMR / pic by TMR FILE

GHL provides coverage for non-conventional purchases 

GHL Systems Bhd is extending its partnership with Senangnvs Sdn Bhd, an insurtech company based in Kuala Lumpur, to provide Malaysians with easier access to a first-in-Asean micro-insurance coverage on non-conventional retail purchases that are commonly not insured. Through GHL’s smart terminals and Senang-Sikit digital insurance platform, this distribution model aims to enrich the consumer-buying journey through peace-of-mind shopping.

KNM granted PN17 relief measures 

KNM Group Bhd has been granted Practice Note 17 (PN17) relief measures in relation to the issuance of Thai bonds, resulting in the company triggering suspended criteria and will not be classified as PN17 affected listed issuer. Under the PN17 relief measures, the company said an affected listed issuer that triggers any of the PN17 suspended criteria during the relief period would not be classified as a PN17 listed issuer and will not be required to comply with the obligations of the Main Market Listing Requirements of Bursa Malaysia for 18 months from the date of triggering the criteria. — Bernama

Kerjaya Prospek acquiring a 2ha land in Penang 

KERJAYA Prospek Property Bhd’s wholly-owned subsidiary, Pixel Valley Sdn Bhd (PVSB), is acquiring a 1.97ha freehold land from Aspen Vision City Sdn Bhd (AVC) in Bandar Cassia, Batu Kawan in Penang for RM27.57 million. In a filing to Bursa Malaysia yesterday, it said PVSB has entered into a purchase and development agreement with AVC following the proposed acquisition that would enable Kerjaya Prospek to focus on its core business of property development, and expand and strengthen its landbank size. It added that barring any unforeseen circumstances, the proposed acquisition is expected to be completed within 90 days from the unconditional date, which is expected to be completed by July 2022. — Bernama

Parkson gets RM1.5b loan 

PARKSON Holdings Bhd’s (PHB) 54.97%-owned subsidiary, Parkson Retail Group Ltd (PRGL), yesterday entered into a facility agreement for a syndicated term loan facility in an aggregate amount of up to HK$2.7 billion (RM1.46 billion) with a syndicate of banks. The term loan of 36 months will commence from the first drawdown date, it said. The loan facility is to refinance the existing loan and for general corporate and working capital needs of PRGL. This facility agreement by PRGL does not have a material impact on the earnings of the PHB Group for the 18-month financial period ending Dec 31, 2021, and the net assets of the PHB Group based on the audited consolidated statement of financial position of the company as at June 30, 2020. — Bernama