CORP BRIEF: LYC Healthcare, KAB and MyEG

by TMR / pic credit: ANNUAL REPORT

LYC Healthcare proposes private placement

LYC Healthcare Bhd has proposed to undertake a private placement of up to 10% of the total number of its issued shares to third party investors that would be identified later at an issue price to be determined later. In a filing to Bursa Malaysia yesterday, the healthcare service provider said as at April 6, 2022, the total issued share capital of LYC Healthcare was RM58.04 million, comprising 464.53 million shares, and accordingly, a total of up to 46.45 million new shares might be issued pursuant to the proposed private placement. The indicative issue price of the placement shares is assumed at RM0.2217 per placement share, which represents a discount of approximately 9.99% to the five-day volume-weighted average price of LYC Healthcare shares up to and including the latest practicable date of this announcement of RM0.2463 per LYC Healthcare share.

KAB inks PPA with Mydin on solar PV project

KEJURUTERAAN Asastera Bhd (KAB) via its wholly owned company, KAB Gree Solar Sdn Bhd and Mydin Mohamed Holdings Bhd have signed a power purchase agreement (PPA) to develop a renewable energy asset for Mydin in Kelantan. Under the PPA, KAB Gree Solar will design, construct, instal, own, operate and maintain a grid-connected solar photovoltaic (PV) energy system on the roof of the open car park of the Mydin Tunjong Hypermarket. Under phase one of the PPA, KAB will provide Mydin with up to 2,041.65 kilowatts peak of solar electricity in total throughout the term of the agreement.

MyEG’s Zetrix blockchain launches Mainnet

MYEG Services Bhd’s Zetrix blockchain has completed the foundational development for its layer-1 blockchain functionalities and it will launch its Mainnet on April 15, 2022. This marks the completion of phase 1 of Zetrix’s journey towards being a leading platform for decentralised applications, where industrial use cases like supply chain traceability and financing co-exist with the metaverse. Zetrix is the international extension of Xinghuo BIF, China’s largest national-level blockchain network supported by all levels of the Chinese government and running both governmental and commercial applications. It is a collaboration between MyEG and Beijing-based Bubi Technologies which provides the backbone infrastructure and supernodes outside China that integrates with Xinghuo BIF.