CORP BRIEF: KPower, Jacky Pang, Pintaras Jaya and Maybank

by TMR / pic credit:

KPower redesignates Mustakim as executive chairman 

KPOWER Bhd announced the redesignation of Mustakim Mat Nun to executive chairman from his previous position as the executive chairman and group MD. Meanwhile, Amirul Afif Abd Aziz has been appointed as the group CEO, succeeding Mustakim, effective immediately. Amirul previously was the group CFO of KPower from 2019. As the group CEO, Amirul will lead the management in driving business growth and further enhancing operational excellence towards achieving its financial targets while maximising shareholders’ returns.

Jacky Pang makes unconditional MGO 

DATUK Seri Dr Pang Chow Huat is making an unconditional Mandatory General Offer (MGO) at RM0.60 to acquire Computer Forms (M) Bhd (CFM) after buying 133.19 million shares, which is more than 50% of the 205 million issued shares in CFM via direct business transaction yesterday. CFM is a Malaysia-based company that is engaged in printing and distributing computer forms, stock forms and specialised forms. The company’s segments include Business forms, data print services and commercial printing including bill of lading; stock forms, security forms, gift voucher coupon and bank check for local banks such as CIMB Group Holdings Bhd, Citibank Bhd, Public Bank Bhd and RHB Bhd.

Pintaras Jaya to sell industrial land in Klang 

PINTARAS Jaya Bhd has proposed to dispose of a piece of freehold industrial land in Klang, Selangor, measuring approximately 1.17ha, to Senheng Electric Sdn Bhd for RM25.28 million. As the company has no immediate plans to use the land, the proposed disposal represents an opportunity for the group to realise the value of the land and unlock capital resources from being tied up as long-term assets,” it said in a filing to Bursa Malaysia yesterday. — Bernama

Maybank to establish Asean Research Centre 

MALAYAN Banking Bhd (Maybank) has endowed RM21 million to the Asia School of Business to establish the Maybank Asean Research Centre (Maybank ARC), aimed to be a centre of intellectual activity in South-East Asia conducting research on topics surrounding emerging markets in the region. The Asia School of Business is a collaboration between the MIT (Massachusetts Institute of Technology) Sloan School of Management and Bank Negara Malaysia. In a statement yesterday the bank said the endowment is part of Maybank and Maybank ARC’s common goal to improve the lives of Asean citizens, and is based on a mutual understanding that social welfare can be a bridge towards improving policymaking.