CORP BRIEF: Uzma, MCE Holdings, Hextar Global and GCap

Uzma unit signs contract with Petronas 

UZMA Bhd’s wholly-owned subsidiary, Uzma Engineering Sdn Bhd (UESB), has signed a commercialisation agreement with Petronas Technology Ventures Sdn Bhd (PTVSB) to commercialise the non-metallic pipeline (NMP). Under the agreement, PTVSB has granted UESB the licence to market and use the installation method developed by Petroliam Nasional Bhd (Petronas)/its affiliates to instal NMP, and use data and information in relation to qualified NMP as supplied by PTVSB/its affiliates, it said in a filing to Bursa Malaysia. The commercialisation agreement shall be in force for a period of three years from the commencement date with the option to renew for another two years. — Bernama

MCE Holdings secures RM11.5m contract 

MCE Holdings Bhd’s wholly-owned subsidiary, Multi-Code Electronics Industries (M) Bhd, has secured contracts to supply various mechanical parts for Perusahaan Otomobil Kedua Sdn Bhd’s (Perodua) new car models. The supply of these parts is expected to commence in the first quarter of the financial year ending July 31, 2024, for a duration of six years. The projects are expected to generate total revenue of approximately RM11.47 million for MCE Group over the six-year period, while the estimated total investment cost is RM0.62 million, it said in a filing to Bursa Malaysia yesterday. — Bernama 

Hextar Global to acquire shares in Agro Sentosa 

HEXTAR Global Bhd has proposed to acquire 109,900 shares, representing 99.91% of equity interest in PT Agro Sentosa Raya for RM10.2 million. The proposed acquisition would further expand and strengthen the company’s foothold in the agriculture industry, the company said in a filing with Bursa Malaysia yesterday. The proposed acquisition will also allow the company to expand its business globally to increase revenue potential. Agro Sentosa has more than 15 years of experience in agrochemicals products, with proven track records that will contribute positively to the group, it added. — Bernama 

GCap’s unit commences operation of solar PV system 

G CAPITAL Bhd’s unit, Solarcity Malaysia Sdn Bhd, has completed the installation and commenced operation of a 3MWp solar photovoltaic (PV)electric power generation system (solar PV system) for the power purchase agreement (PPA) with Muda Paper Converting Sdn Bhd. Solar-city is a 70%-owned subsidiary of G Capital. It said the solar PV system was installed on-premises located at Simpang Ampat, Pulau Pinang pursuant to the PPA on Jan 29, 2021. — Bernama