NEWS IN BRIEF: JUNE 1, 2021

MICROLINK SOLUTIONS BHD and Chinasoft International Technology Service (Hong Kong) Ltd have formed a collaboration to expand their footprint in the ASEAN market and develop information and communication technology initiatives.

In a filing with Bursa Malaysia today, the company said the collaboration specifically covers the promotion and implementation of a software/digital factory, the formation of a technology innovation/incubation centre and the development of a software ecosystem portfolio.

“Under the agreement, Chinasoft’s role will be to provide professional services and build up the pool of resources in Malaysia and also acquire and provide the required technology and solutions based on market needs.

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“Microlink will drive solution design and localisation of features and functions to build new sales and services capabilities from Chinasoft and principal provider(s),” it said.

-- BERNAMA

ADVANCECON HOLDINGS BHD’s wholly-owned subsidiary, Advancecon Infra Sdn Bhd (AISB) has been appointed by Sime Darby Property (Serenia City) Sdn Bhd as the contractor for a project worth RM20.21 million.

In a filing with Bursa Malaysia today, the company said the contract is for the proposed construction and completion of Phase A10 earthworks and other ancillary works for Package 2F, Serenia City in Sepang, Selangor.

“The contract commences from June 14, 2021 to Sept 13, 2022,” said Advancecon.

Barring any unforeseen circumstances, it said the contract is expected to contribute positively towards the future earnings of the group and will not have any effect on the share capital and substantial shareholders’ shareholdings.

-- BERNAMA

INARI AMERTRON BHD has proposed a private placement of up to 333 million ordinary shares in the company, representing approximately 10 per cent of the total number of issued shares.

In a filing with Bursa Malaysia, the company said based on the illustrative issue price of RM3.20 per placement share, Inari is expected to raise gross proceeds of up to RM1.065 billion whereby RM1.0488 billion is expected to be used for capital expenditure, acquisitions and investments within 30 months.

A further RM16.8 million would be used for estimated expenses in relation to the proposed private placement.

“In the event the proceeds raised are lesser and insufficient for its funding requirements, the group will utilise internally generated funds and/or bank borrowings after taking into consideration prevailing interest rates at that point in time,” it added.

-- BERNAMA

HONG SENG CONSOLIDATED BHD has appointed Datuk Seri Dr Chen Chaw Min as its new non-executive chairman with effect from June 1, 2021.

He succeeds Datuk Teoh Hai Hin, who will be redesignated as group managing director, the company said in a statement today.

Chen had served 33 years in the civil service and was also the secretary-general of the Health Ministry before retiring on Feb 4, 2021.

He said he is looking forward to working closely with fellow board members and the management team, especially by providing insights on the healthcare industry for the betterment of the group’s healthcare arm.

-- BERNAMA