CORP BRIEF: Serba Dinamik, Petronas and Muhibbah

by TMR / pic by TMR FILE / pic by TMR FILE

Serba Dinamik’s trading suspension to continue

TRADING of Serba Dinamik Holdings Bhd’s securities on Bursa Malaysia Securities Bhd will remain suspended until further notice, according to Bursa Malaysia’s circular to Serba Dinamik yesterday. The securities added that the company has not complied with Bursa Securities’ directive to announce the findings from the Factual Findings Update on the Special Independent Review. On Nov 25, 2021, Serba Dinamik told the exchange that given the change of external auditor and the impact of the movement restrictions in Malaysia and overseas arising from the pandemic, the audit of the financial statements for the financial period ended June 30, 2021 (AFS 2021), was affected. It said that the AFS 2021 could not be finalised in time for inclusion in the annual report for the financial period ended June 30, 2021, for issuance by Nov 30 via its letter dated Oct 25 (the first extension of time application). Bursa Malaysia had rejected the company’s application and subsequent appeal to postpone the submission of its financial year 2021 annual report from the initial deadline of Nov 30, 2021.

Petronas delivers CNLNG to Hiroshima Gas

PETROLIAM Nasional Bhd (Petronas) subsidiary, Malaysia LNG Sdn Bhd, has successfully delivered a carbon-neutral LNG (CNLNG) cargo to Hiroshima Gas Co Ltd, marking the state oil firm’s commitment towards becoming a sustainable solutions partner to its customers. This CNLNG delivery also augurs well with Hiroshima Gas’ management philosophy to be a company trusted by the communities it serves. Commenting on the deal, Hiroshima Gas senior executive officer Kazunori Tamura said: “Our business as a city gas supplier is seeing an increasing need to offer carbon-neutral city gas to our end-buyers. Petronas’ ability to provide such a solution is certainly essential to ensure we are on track in our sustainability goals. We are pleased to have collaborated with Petronas for our first CNLNG cargo.”

Muhibbah to raise RM128m from proposed rights issue

MUHIBBAH Engineering (M) Bhd has proposed to undertake a renounceable rights issue of up to 256.91 million rights shares on the basis of one right share for every two existing shares held in the company on an entitlement date to be determined and announced later. The oil and gas engineering company said it aims to raise between RM25.13 million and RM128.46 million from the exercise. — Bernama