CORP BRIEF: IHH-Ramsay Sime Darby, KAB and Supermax

by TMR / pic credit: ANNUAL REPORT

IHH to acquire Ramsay Sime Darby JV firm

SIME Darby Holdings Bhd and Ramsay Health Care Ltd have received a proposal from IHH Healthcare Bhd to acquire 100% of their 50:50 joint venture (JV) company, Ramsay Sime Darby Health Care Sdn Bhd (Ramsay SDH). In a filing to Bursa Malaysia yesterday, Sime Darby said under the indicative proposal, the conditional indicative enterprise value for Ramsay SDH is RM5.67 billion on a cash-free, debt-free basis. The indicative proposal is subject to conditions on the completion of satisfactory due diligence, negotiation and finalisation of a sale and purchase agreement. Having reviewed the indicative proposal, Sime Darby and Ramsay SDH have agreed to a period of exclusivity for four weeks to allow IHH to conduct due diligence and negotiate a sale and purchase agreement. — Bernama

KAB unit inks RM47m PPAs in Thailand

KEJURUTERAAN Asastera Bhd (KAB) yesterday inked five rooftop solar power generating system construction and power purchase agreements (PPAs) worth RM46.8 million in Thailand via its indirect subsidiary KAB Gree Solar Thai Co Ltd. In a filing to Bursa Malaysia yesterday, the company said the deal involved an estimated aggregate capacity of 4,284 kilowatt-peak. KAB is to construct, install, operate and maintain the grid-connected photovoltaic (GCPV) solar system for Siam Machinery and Equipment Co Ltd and four subsidiaries of Aapico Group of Cos. The contract duration to operate and maintain the GCPV solar system is over 25 years. The four subsidiaries are Aapico Hitech Public Co Ltd, Aapico Hitech Parts Company Ltd, Aapico Hitech Tooling Co Ltd and Able Sanoh Industries (1996) Co Ltd. — Bernama

Supermax to build  advanced manufacturing facility in Texas

SUPERMAX Corp Bhd’s US-based subsidiary, Maxter Healthcare Inc, has released the artist impression of its advance manufacturing facility in Brazoria County, Texas, US. This will be the firm’s 18th manufacturing plant worldwide and its first in the US, it stated in a filing to Bursa Malaysia yesterday. The facility will comprise a total of eight buildings. Phase one will begin construction sometime in the second quarter of 2022 (2Q22) with glove production expected to start sometime in 2Q23. The company had earlier announced an investment of US$350 million (RM1.47 billion) on the first of four construction phases. The Supermax facility in Texas will cater to at least 10%-15% of annual medical nitrile glove demand in the US over the next two to four years in the first phase alone. The second phase will follow closely, meeting 20%-25% of demand and consumption in the US over the next four to six years.