NEWS IN BRIEF : OCT 15, 2021

BANK RAKYAT will offer the Financial Management and Resilience Programme (URUS) to its customers from the Bottom 50 per cent (B50) affected group, starting Nov 15, 2021.

Through the programme, eligible customers can obtain a personal finance plan developed holistically by the Credit Counselling and Management Agency (AKPK) which includes the option of financing profit rate exemption for a period of three months or installment reduction for a period of up to 24 months along with financing profit rate exemption for three months.

Bank Rakyat said that during the period, customers with personal financing without guarantor and credit cards could also benefit from reduced profit rates to help ease their financial burden. The programme is offered to B50 customers who have a household income of less than RM5,880 and have already participated in financing installment payment assistance programs such as Targeted Payment Assistance, PEMERKASA Plus, PEMULIH, scheduling and restructuring by banks as of Sept 30, 2021.

Customers who lost their jobs or experience a reduction in income of at least 50 per cent and have financing that is not in arrears for more than 90 days on the date of application are also eligible to participate in the programme.

-- BERNAMA

PRIVASIA TECHNOLOGY BHD subsidiary Privasia Sdn Bhd has been awarded a contract to provide maintenance services for the Licensing Electronic Support System Application (BLESS) portal from the Ministry of Entrepreneur Development and Cooperatives (MEDAC) worth RM2.31 million.

In a filing with Bursa Malaysia, Privasia said the contract would commence from Nov 1, 2021 until Oct 31, 2024. 

Chief executive officer and managing director Puvanesan Subenthiran said the tender contract is testament of the government’s confidence and recognition of Privasia as a key player in providing technological software solutions.

-- BERNAMA

NPC RESOURCES BHD’S wholly-owned subsidiary Seraya Plantation Sdn Bhd (SPSB) has entered into a conditional sale and purchase agreement (land SPA) with Syarikat Kretam Plantations Sdn Bhd (SKPSB) to dispose of three parcels of agricultural land fully cultivated together with all the infrastructure, buildings, fixtures, fittings and assets in Kinabatangan, Sabah worth RM29.6 million.

In a filing with Bursa Malaysia, the company said its indirect 70 per cent owned subsidiary Bonus Indah Sdn Bhd (BISB) has also entered into a land SPA with SKPSB for the disposal of a parcel of agricultural land fully cultivated together with all the infrastructure, buildings, fixtures, fittings and assets worth RM23.12 million.

“A supplemental deed to the SPAs has also been entered into between SPSB, BISB and SKPSB on Oct 15, 2021 whereby it agreed that both SPAs are deemed to be one transaction to be completed concurrently one with the other,” it said.

-- BERNAMA

ACE INNOVATE ASIA BHD (AIAB) has entered into a joint venture cum shareholders agreement (JVSA) with Axismas Sdn Bhd (ASB) to formalise and set out the basic terms of its partnership via their respective investment participation in Ace Ihsan Gold Sdn Bhd (proposed joint venture).

In a filing with Bursa Malaysia, the company said the proposed joint venture is in line with AIAB and its subsidiaries’ (AIAB Group) strategic plan to expand its digital gold related products and services to corporation members of Surahanjaya Koperasi Malaysia.

“The proposed joint venture will contribute positively to the future earnings of the AIAB Group but will not have any effect on the share capital and substantial shareholders’ shareholding of AIAB.

“It is also not expected to have any material effect on the earnings per share, net assets per share and gearing for the financial year ending Dec 31, 2021,” it said.

-- BERNAMA

AXTERIA GROUP BHD  has signed a non-binding Letter of Intent (LOI) with Far East Hospitality Management (S) Pte Ltd (FEH) to express its intention to manage the hotel and serviced suites located in Kota Laksamana, Melaka.

In a filing with Bursa Malaysia, the company said the projects currently is undertaken by its wholly owned subsidiaries Axteria Assets Sdn Bhd encompassing a 16-storey development building with 241 hotel rooms and Axteria Eco Sdn Bhd encompassing a 44-storey development building with 306 service suites, both proposed to be managed under the FEH  brands.

“The LOI is to ensure the smooth and effective joint collaboration whereby FEH shall operate and provide management, brand licensing and other related services to the properties meeting international upscale standards in accordance with the terms and conditions outlined,” it said.

Far East Hospitality Holdings Pte Ltd's wholly owned subsidiary, FEH  is an international premier hospitality owner and operator established in Singapore with a diverse portfolio of 10 unique and complementary brands of hotels, serviced residences and apartment hotels.

-- BERNAMA