NEWS IN BRIEF: SEPT 17, 2021

SOLARVEST HOLDINGS BHD’s application for a proposed transfer of listing and quotation for the entire issued share capital of the company from the ACE Market to the Main Market of Bursa Malaysia Securities Bhd has been approved by the Securities Commission.

As at Aug 30, 2021, the share capital of Solarvest is RM128.56 million, comprising 663.95 million shares, and based on the record of depositors, approximately 36.9 per cent of the company’s share capital is held by 13,293 public shareholders holding not less than 100 shares each.

“Solarvest was listed on the ACE Market of Bursa Securities since its admission on Nov 26, 2019,” the solar turnkey engineering, procurement, construction and commissioning (EPCC) solution specialist said in a filing with Bursa Malaysia today.

Its market capitalisation is RM894.28 million based on a five-day volume weighted average price of Solarvest shares up to and including Aug 30, 2021 of RM1.3469 per share.

-- BERNAMA

BSL CORP BHD clarifies that the company has yet to determine the equity interest to be acquired in relation to the proposed acquisition of SD Unify Pte Ltd.

In a filing with Bursa Malaysia today, the manufacturer of consumer electrical and electronics components further clarified that the proposed acquisition would be funded entirely from internally generated funds of the company.

BSL Corp was replying to a news article published by Star Biz on Sept 17, 2021, entitled "BSL Corp eyes transfer to tech sector after corporate exercise”, which stated that the company would boost its exposure in the semiconductor sector via a proposed acquisition of a “controlling interest” in Singapore-based SD Unify Pte Ltd.

"BSL Corp said the acquisition of SD Unify would be financed by BSL Corp’s internal cash and partly from the private placement of up to 58.8 million new BSL Corp shares, which was announced on Bursa’s website on Sept 3, 2021," said the news article.

-- BERNAMA

PERDANA PETROLEUM BHD’s net loss for the second quarter ended June 30, 2021 (Q2 2021) widened to RM39.12 million from RM2.88 million in the same quarter last year.

Revenue fell to RM38.56 million from RM60.0 million previously, mainly attributable to lower vessel utilisation at 51 per cent as compared to 58 per cent in Q2 2020.

In a filing with Bursa Malaysia today, the company said the decline was due to lower charter rates, slower work orders and the reimposition of the Movement Control Order (MCO) to contain the spread of COVID-19.

Moving forward, the group expects to continue to face operational challenges as the outlook of the oil and gas industry for offshore support vessels would remain substantially the same due to the continued MCO.

-- BERNAMA