News in brief: March 23, 2022

HSS ENGINEERS BHD unit HSS Engineering Sdn Bhd (HSS) has inked a memorandum of understanding (MOU) with Indah Water Konsortium Sdn Bhd (IWK) to explore potential opportunities for management and technical services in the United Arab Emirates (UAE).

The group said the strategic collaboration will allow HSS to leverage on its experience of over 35 years to bring technology, innovative solutions, and expertise that will be a value-add to IWK for excellent project execution.

HSS chief executive officer Sharifah Azlina Raja Kamal Pasmah said in a statement that the MOU is “an exciting collaboration between an industry thought leader with solid technical expertise and an engineering and project management consultancy with a proven track record for efficient service delivery.”

-- BERNAMA

PROTECTHEALTH CORPORATION SDN BHD has inked an MOU with Bumiputera Agenda Steering Unit (TERAJU) to form a strategic collaboration to promote greater awareness of a health programme for the Bumiputera lower income group called PeKa B40.

TERAJU will identify the clinics that will participate in the programme to increase the reach to the underserved Bumiputera B40 communities throughout the nation.

Those who qualify for the PeKa B40 programme can enjoy benefits such as free health screening, free medical equipment support, incentives for cancer treatment as well as transportation incentives, they said in a joint statement.

-- BERNAMA

WINACORE CAPITAL, a Malaysia-based venture capital firm, has announced that it will be investing an undisclosed amount in Disruptr MY, an emerging startup that focuses on Malaysia’s startup and business ecosystem.

The company said the investment marked its first investment in 2022 and is the first media-related venture to be held in its portfolio and the funds will primarily be used to further enhance the website and expand the team’s headcount to ensure its readers are updated with the latest news and updates.

Winacore noted that Disruptr MY grew from a newsletter that was founded in December 2020 that focused on highlighting entrepreneurs and businesses from the startup, small and medium enterprises (SME), and social enterprise sectors.

“With an ambitious and resourceful founder, Disruptr MY has managed to show steady growth in readership. We are confident that our investment will further accelerate their growth and we look forward to a long partnership with them,” Winacore founder and investment director Ashwin Chockalingam said in a statement.

-- BERNAMA

T7 GLOBAL BHD launched its recruitment and manpower services arm, T7 Intelligent Resources Sdn Bhd (T7 IR), at the OTC Asia 2022 conference.

Chairman Datuk Seri Nik Norzrul Thani Nik Hassan Thani said T7 Global had rebranded itself in 2016 with a mission to further expand its business in the oil and gas industry by offering various technical support services.

“Today, our focus is not only on the oil and gas industry but also expanded to the field of information and communication technology as well as the new energy sector, which is gaining ground among the corporate sectors,” he said in a statement today.

He added that with the launch of T7 IR,  the group will be able to further boost its brand and create awareness to attract more skilled, professional manpower as well as corporate groups to participate in its human resources management solutions.

-- BERNAMA

SMTRACK BHD has entered into an aircraft purchase agreement with Fairway Logistic (M) Sdn Bhd to acquire one unit of the Bombardier Challenger 601-3A aircraft together with all installed parts, including auxiliary power unit and landing gear, for US$1.8 million (US$1 = RM4.22).

In a filing to Bursa Malaysia today, the company said the acquisition was in line with its venture into cargo carriage services and would be funded via proceeds from the issuance of redeemable convertible notes, approved by the shareholders at the end of 2020.

The company said the acquisition will not have any material effect on its issued and paid-up share capital, earnings, and gearing for the financial year ending Dec 31, 2022.

-- BERNAMA