CORP BRIEF: TM-DNB, Brahim and GSC

by TMR / pic by BERNAMA

TM executes service agreement with DNB

TELEKOM Malaysia Bhd (TM) executed a service agreement with Digital Nasional Bhd (DNB) for the fibre leasing service agreement, it said in a filing to Bursa Malaysia yesterday. Under this service agreement, DNB will subscribe to 5G RAN-to-Edge Fronthaul and Backhaul as a single end-to-end solution for the provision of fibre connectivity that will enable DNB to provide 5G service to their customers. It covers 5G RAN-to-Edge Fronthaul and Backhaul as a single end-to-end fibre leasing offering with a total contract value of RM2 billion over 10 years. It is effective from Aug 28, 2021 and remains valid until the expiry of the 10 years’ service term of the last commissioned cell site unless earlier terminated by the parties.

Brahim’s appeal against delisting of its securities

BRAHIM’S Holdings Bhd (BHB) has submitted an appeal to Bursa Malaysia Securities Bhd against the delisting of its securities. In a filing to Bursa Malaysia yesterday, the airline caterer said the removal of the securities of the company from the official list of Bursa Securities on April 20, 2022, shall be deferred while pending the decision by Bursa Securities on the appeal which was submitted within the timeframe (April 14, 2022). On April 8, Bursa Securities rejected BHB’s application for an extension of time to submit its Practise Note 17 regularisation plan and to comply with the listing rules. Following the rejection by the stock exchange operator, BHB shares will be suspended from trading effective April 15, 2022. — Bernama

GSC owner optimistic of recovery

PPB Group Bhd, the owner of Golden Screen Cinemas Sdn Bhd (GSC) is optimistic that lifting of movement controls, relaxation of social restrictions and a strong line-up of movie blockbusters would boost cinema admissions. In the group’s 2021 annual report filed with Bursa Malaysia yesterday, the group anticipates its film exhibition and distribution segment to deliver better financial results on a year-on-year basis as the recovery momentum picks up in 2022. In September 2021, GSC completed the acquisition of 18 cinema assets from MCAT Box Office Sdn Bhd and Reel Entertainment Holdings Sdn Bhd, increasing its domestic market share to more than 50%.