BUSINESS

NEWS IN BRIEF: JUNE 16, 2021

16/06/2021 10:11 PM

DUTCH LADY MILK INDUSTRIES BHD (DLMI) has announced the appointment of Ramjeet Kaur Virik as its managing director effective July 2, 2021.

In a statement, it said Ramjeet will succeed Tarang Gupta who will be appointed as managing director for Alaska Milk Corporation in the Philippines, a subsidiary of FrieslandCampina, effective Aug 1, 2021.

Ramjeet, who is currently the marketing director (consumer dairy) for DLMI, joined the company in 2011 as marketing manager for dairy-based beverages, subsequently moving to Indonesia in the same capacity for PT Frisian Flag Indonesia sweetened condensed milk category and later as International marketing manager based in Singapore.

In January 2018, Ramjeet was promoted as marketing director for consumer dairy at DLMI where she led the portfolio and strengthen its market position in the past three years.

-- BERNAMA

 

CAB CAKARAN CORPORATION BHD has temporarily ceased the operations of one of its wholly-owned subsidiary’s factory to prevent the spread of COVID-19.

In a filing with Bursa Malaysia, the company said the decision was made as 162 COVID-19 positive cases were confirmed during the period from June 10-11 in the affected factory.

“Following the National Security Council standard operating procedures, the affected factory has temporarily ceased its operations to perform deep sanitisation of the factory as well as hostels,” it said.

The affected factory has received a notice from Ministry of Health on June 11,  2021 with instructions to suspend its operations from June 11, 2021 until further notice.

-- BERNAMA

 

SENI JAYA CORPORATION BHD's (SJC) indirect wholly-owned subsidiary has proposed to acquire 100 per cent interest in Topper Media Sdn Bhd (TMSB) for a total cash consideration of RM5 million.

In a filing with Bursa Malaysia, SJC said the acquisition will be undertaken by Seni Jaya OOH Sdn Bhd (SJOOH), a wholly-owned subsidiary of Seni Jaya Sdn Bhd, which in turn is a wholly-owned subsidiary of SJC.

Upon completion of the proposed acquisition, TMSB will become a wholly-owned subsidiary of SJOOH. 

SJC said the proposed acquisition will provide the group with an opportunity to expand its business development into digitalisation and technological advertising media.

The proposed acquisition is not expected to have any material effect on the company’s earnings per share, net assets per share and gearing for the financial year ending Dec 31, 2021. 

-- BERNAMA

 

MAGNI-TECH INDUSTRIES BHD’s wholly-owned subsidiary, South Island Garment Sdn Bhd, has entered into a Sale and Purchase Agreement (SPA) with Hiap Hoong Industry (M) Sdn Bhd to dispose of freehold land together with building at the Valdor Industrial Park Sg Jawi, Penang for RM23.3 million cash.

In a filing with Bursa Malaysia, the company said the disposal is expected to be completed within three months from the date of SPA.

The proposed disposal is to unlock and realise the value of the property which are neither used or generating any income. 

“Magni Group is in a position to realise the gain in value of the said property via the proposed disposal and the proceeds therefrom will further enhance its cash flow,” it said. 

-- BERNAMA

 

 


 


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