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News In Brief: Sept 13, 2021

13/09/2021 08:12 PM

BERMAZ AUTO BHD reported a slightly higher net profit of RM10.26 million for the first quarter ended July 31, 2021 from RM9.24 million in the same period a year ago.

In a filing with Bursa Malaysia today, it said the group posted a lower revenue of RM320.79 million from RM448.89 million previously, largely due to lower sales volume registered from domestic operations.

“The lower revenue was attributed to the full lockdown under Phase 1 of the National Recovery Plan where showrooms were not allowed to operate,” it said.

The group expects the remaining quarters of the financial year ending April 30, 2022 to remain challenging and uncertain. 



MALAYSIAN RESOURCES CORP BHD (MRCB) said the decision to buy over George Kent (Malaysia) Bhd's (GK) 50 per cent stake in the Light Rail Transit 3 (LRT 3) joint venture company (JVCO) is in a deadlock. 

In a filing with Bursa Malaysia today, MRCB said, following a news report over the matter, it will make further announcements to Bursa Securities as and when there are material developments in relation to the subject.

Meanwhile, in a separate filing, GK said MRCB has yet to make an offer for the said takeover and it has no knowledge of the fact that the news report had alluded that the Finance Ministry was in favour of MRCB's acquisition of GK's stake in the JVCo. 

On June 8, 2015, GK and MRCB signed the shareholders' agreement to form the JVCo on a 50:50 basis. 



OM HOLDINGS LTD has announced that Perth-based mineral exploration company Bryah Resources Ltd has started drilling activities in their Bryah Basin Manganese joint venture project in central western Australia.

In a filing with Bursa Malaysia today, OM said the reverse circulation drilling programme of 2,000 metres was planned to test some of the potentially concealed manganese. 

In April 2019, OM's wholly subsidiary, OM (Manganese) Ltd signed a joint venture agreement with Bryah, which applies to the rights to mine manganese only over 600 sq km of the entire tenement package by Bryah in the Bryah Basin.



BANK RAKYAT has launched the Bank Rakyat UNIpreneur Pilot Programme in collaboration with local institutes of higher learning (IPT) to help student entrepreneurs from the asnaf group to grow their business.

In a statement today, the bank said through this pilot programme, 100 potential asnaf student entrepreneurs from 10 IPTs would be given an injection of funds amounting to RM200,000.

“In addition, participants will also receive training, guidance and monitoring for six months from September 2021 to February 2022,” it said.



SUNWAY GROUP'S public-listed companies Sunway Bhd, Sunway REIT and Sunway Construction Group Bhd (SunCon) have bagged a total of six awards in corporate governance and corporate reporting recently.

The three companies took home an award each at the Minority Shareholders Watch Group (MSWG)-ASEAN Corporate Governance Awards 2020, and at the 35th International Annual Reports Competition (ARC).

Sunway Bhd was recognised at the MSWG-ASEAN awards for three consecutive years from 2018 onwards while SunCon was recognised for the fifth consecutive year since 2016, it said in a statement today. 





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