BURSA BRIEF: TM, Favelle Favco, EPU and Damansara Holdings

Omesti bags Telekom contract

OMESTI Bhd has won a RM20 million mobile services business support system contract from Telekom Malaysia Bhd (TM). In an exchange filing, Omesti said it has received a letter of award to design, develop, customise, configure, deliver, instal, integration, test, commission and knowledge transfer for mobile services business support system to ensure mobile services continuity (Including 5G and other mobile-related services), maintenance and support services and provision of software subscription for a period of one year, commencing Sept 23. Omesti and its subsidiaries are engaged in the provision of network connectivity and bandwidth services, and project management services in relation to telecommunications.

Crane orders for Favelle Favco

CONSTRUCTION cranes maker Favelle Favco Bhd has received purchase orders for the supply of tower crane, offshore crane and powerpack valued about RM130.8 million. The company told the local stock exchange the purchase orders or letter of intent were received by its subsidiaries — Favelle Favco Cranes Pte Ltd, Favelle Favco Cranes (M) Sdn Bhd, Shanghai Favco Engineering Machinery Manufacturing Co Ltd and Favelle Favco Cranes (USA) Inc.

EPU greenlight for Lion Industries land purchase

LION Industries Corp Bhd has received the greenlight from the Economic Planning Unit (EPU) for its plans to acquire a leasehold industrial land measuring approximately 3.23ha in Klang, Selangor, together with buildings erected for RM47.13 million. In an exchange filing, it said it has received the ‘no objection’ letter from EPU on Sept 20.

Damansara Holdings slapped RM29m additional tax penalty

INLAND Revenue Board of Malaysia has slapped an additional RM29.09 million tax penalty on Damansara Holdings Bhd for years of assessment between 2016 to 2019. In an exchange filing, Damansara Holdings said its wholly owned subsidiary Damansara Realty (Johor) Sdn Bhd (DRJ) has received notices of assessment and notices of additional assessment from the tax authorities. The notices are in relation to the alleged disposal of development rights on Lot 413 Mukim Tebrau, Johor for the development of the Taman Damansara Aliff project, pursuant to Section 4(a) of the Income Tax Act 1967. DRJ has filed an application for leave to apply to quash the decision and will also be filing an application to the Special Commissioner of Income Tax to appeal against the notices. – by TMR / graphic TMR