NEWS IN BRIEF: AUG 5, 2021

AXIATA DIGITAL today announced that its fintech holding arm Boost Holdings Sdn Bhd is now rebranded as Boost. 

In a statement today, it said the re-launched Boost brand unifies all fintech services that span payment services, alternative lending, digital insurance, content services and merchant solutions under one roof.

Leading the charge of the fintech arm now re-branded as Boost is its chief executive officer Sheyantha Abeykoon.

-- BERNAMA

Energy solutions provider T7 GLOBAL BHD’S owned subsidiary T7 Kilgour Sdn Bhd has secured multiple purchase orders from Global Tek Fabrication Co Ltd and C.C.S. Advance Tech Co Ltd (CCS) to provide metal surface treatment services for aerospace parts.

T7 Global executive director and head of aerospace and defence division Tan Kay Vin said it paves the way for other metal surface treatment services for different industries (non-aerospace) as Global Tek and CCS also supply to non-aerospace customers from the automotive and industrial sectors.

The orders are expected to contribute positively towards T7 Global’s earnings and net assets per share for the financial year ending Dec 31, 2021.

-- BERNAMA

SALUTICA BHD intends to allocate up to RM18.9 million of the proceeds from the proposed private placement towards the group’s venture into the production of Truly Wireless Systems (TWS).

In a filing with Bursa Malaysia today, the company said the group is presently in advanced stages of preparation for mass production of TWS for sport and hearables, and in advanced stages of development of TWS for gaming and custom fit, which will be marketed under third party brand name.

The group expects to incur a total of up to RM65 million for the venture into production of TWS, which includes working capital, purchase of raw materials and other expenditure, out of which, up to RM18.9 million is expected to be raised from the proposed private placement and allocated towards the expenditure set out above, while the balance is expected to be funded via internally generated funds and/or bank borrowings.

The commercial production of TWS is envisaged to commence in various stages for different models starting from the fourth quarter of 2021 with an expected production output of up to 0.96 million units per annum.

-- BERNAMA

HOLIDAY INN KUALA LUMPUR GLENMARIE has announced that IHG Hotels & Resorts will no longer be managing the hotel from Sept 3 and the hotel will transition into new management from Sept 4 this year.  

General manager Anil Pathak said in a statement today that the hotel will be rebranded to Glenmarie Hotel & Golf Resort and will be managed by Tradewinds Corporation Bhd. 

“We have had a long and fruitful relationship with Horsedale Development Bhd the ownership company of Holiday Inn Kuala Lumpur Glenmarie and while we are naturally disappointed to be reaching the end of our business relationship with them, we believe this is the best outcome for all parties,” he said.

-- BERNAMA

OMESTI BHD has announced the appointments of Tunku Zain Al-’Abidin Tuanku Muhriz as the group’s new chairman, and Datuk Seri Thong Kok Khee as deputy chairman.

In a filing with Bursa Malaysia today, OMESTI said both take up their new designations on the board as the group is set to embark on a number of new initiatives, including its recently announced healthcare venture and Vaccin8 Programme.

Tunku Zain, who is currently independent non-executive director, has served on the OMESTI board since April 2020 whereas Thong, who is currently non-independent non-executive director, was first appointed to the board in 2011.

-- BERNAMA