CORP BRIEF: Supermax, THHE-OHP, Hap Seng and Censof-Cognitive Consulting

by TMR / pic credit:

Supermax confirms Canada ended 2 existing deals

SUPERMAX Corp Bhd confirmed that the Supermax Group’s Canadian subsidiary, Supermax Healthcare Canada Inc, has agreed to terminate by mutual consent with Canada the two existing contracts for the supply of nitrile gloves. Supermax said that the remaining balance of these two contracts at free on board value is US$12.67 million (RM53.21 million) or under 0.8% of the group’s revenue. In a filing to Bursa Malaysia yesterday, the company said the group’s Canadian unit’s contracts for other personal protective equipment products remain in place and are not affected. Supermax reiterated that it had embarked on its undertaking to meet the International Labour Organisation standards on migrant workers from 2019.

THHE, OHP to explore opportunities in RE

TH HEAVY Engineering Bhd (THHE) has entered into a memorandum of understanding (MoU) with OHP Ventures Sdn Bhd, to explore opportunities within the renewable energy (RE) space via the injection of OHP renewable assets which mainly consist of hydropower plant development projects in Malaysia. In a filing to Bursa Malaysia yesterday, the company said the MoU is not expected to have any effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of the firm for the financial year ending Dec 31, 2022.

Hap Seng issues first SLBs

HAP Seng Management Sdn Bhd, a wholly owned subsidiary of Hap Seng Consolidated Bhd, has issued the first tranche of sustainability-linked bonds (SLBs) under its unrated bonds programmes of up to RM5 billion in nominal value. The issuance took place last month with OCBC Bank (M) Bhd acting as sole lead manager for the SLBs issuance. The issuer has adopted a multi-faceted approach towards sustainability by aligning itself with nine of the 17 United Nations Sustainable Development Goals, to safeguard the wellbeing of employees and their workplace, limit the impact of its business operations on the environment and alleviate the economic and social disparities in Malaysia.

Censof buys 51% stake in Cognitive Consulting

CENSOF Holdings Bhd has completed the acquisition of a 51% stake in Cognitive Consulting Sdn Bhd (CCSB). In a statement yesterday, the company said the group entered into a share purchase agreement to acquire the equity interest in CCSB for approximately RM3.7 million with a profit guarantee scheme. It added CCSB would solidify Censof’s digital technology business segment, which will enhance revenue and profitability moving forward. By utilising CCSB’s robotic process automation technology, Censof would be able to elevate its current customers’ processes, allowing them to digitise and adopt cloud-based solutions.