CORP BRIEF: TH, BNM, HLT Global and Willowglen

by TMR / pic by TMR FILE

TH appoints Mustakim as ED group finance

LEMBAGA Tabung Haji (TH) has appointed Mustakim Mohamad as its new ED group finance effective Dec 16, 2021. In a statement yesterday, TH said Mustakim’s appointment takes into account his experience of having served for more than 18 years in TH, covering the areas of financial, investment and operations management. Previously, he was the acting CFO replacing Datuk Merina Abu Tahir who resigned last year. Prior to this, he was the ED operations and was the deputy group CFO from August 2018 till April 2020.

Lim is BNM’s external member of MPC

BANK Negara Malaysia (BNM) appointed Lim Chee Sing as an external member of the Monetary Policy Committee (MPC). The appointment is for a two-year term, effective Jan 1, 2022. Lim served as the ED and chairman of RHB Research Institute Sdn Bhd from 2013 until 2017. He was also the group chief Economist of the RHB Banking Group and an equity market strategist for the Malaysian market for RHB Research Institute.

HLT Global proposes 20% private placement

HLT Global Bhd has proposed a private placement of 20% of its issued shares to partly finance a new glove-dipping plant and installation of new lines. It is estimated to raise a proceed of up to RM76.84 million from the exercise, of which RM15 million will be utilised for the construction of a RM50 million plant in Semenyih, Selangor and RM42.5 million for installation of four to five double-former lines. In a filing to Bursa Malaysia yesterday, the company said the glove capacity production is expected to increase between 2.24 billion and 2.55 billion pieces from the current one billion. The proposed private placement may entail up to between 141.48 million and 163.49 million shares.

Willowglen secures RM8m deal from Prasarana

WILLOWGLEN MSC Bhd’s wholly owned subsidiary, Willowglen (M) Sdn Bhd, has been secured a contract worth RM7.77 million by Prasarana Malaysia Bhd for the design, supply, delivery, installation, integration, testing and commissioning of existing Supervisory control and data acquisition and closed-circuit TV system. In a filing to Bursa Malaysia yesterday, the company said the contract is for 12 months from the commencement date which is to be determined later. The contract is expected to contribute positively to the group’s earnings and net assets per share for the financial years ending Dec 31, 2022, and 2023.