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News in brief: Jan 25, 2022

25/01/2022 09:44 PM

MEDIA CHINESE INTERNATIONAL LTD’s 80 per cent-owned indirect subsidiary PT Sinchew Indonesia has been placed under “members' voluntary dissolution” in accordance with limited liability company laws in Indonesia.

PT Sinchew Indonesia was incorporated in Indonesia on Aug 10, 2012, with a total issued share capital of US$1.5 million.

“It was previously engaged in the distribution and circulation of a Chinese language newspaper - ‘Harian Indonesia’ in Indonesia. It has ceased all business operations and has no intention to carry on business or operations in the future,” Media Chinese said in a filing with Bursa Malaysia.



MINISTRY OF PLANTATION INDUSTRIES AND COMMODITIES (MPIC) oversaw the signing of four memorandums of understanding (MOU) during the Sustainable Agrocommodity Week in the Malaysia Pavilion in Expo 2020 Dubai.

Three of the MOUs signed were from the timber sector, involving Etlingera Sdn Bhd and Aromogy Trading LCC; Etlingera Sdn Bhd and Malaccencis Sdn Bhd as well as between the Timber Exporters Association of Malaysia and the Sharjah Port Authority, a port in the United Arab Emirates.

The fourth MOU, involving the kenaf sector, was between Kenaf Venture Global and the Indonesia government.

“The four MOUs signed are estimated to be worth RM128 million,” the ministry said.



PINTARAS JAYA BHD’s wholly-owned subsidiary Pintaras Megah Sdn Bhd has secured a contract worth RM34.3 million for earthwork, piling, sub-structure and ancillary works.

“This project in Kuala Lumpur will commence on Feb 14, 2022 with a contract period of 18 months,” it said in a filing with Bursa Malaysia today.

The project is expected to contribute positively to the group's financial year 2022 earnings.



DANCOMECH HOLDINGS BHD’s 70 per cent-owned subsidiary MTL Engineering Sdn Bhd has entered into a conditional sale and purchase agreement with a vendor - Ng Lye Heng - to acquire a parcel of freehold agricultural land in Klang, Selangor measuring 0.91 hectares worth RM8.82 million.

In a stock exchange filing with Bursa Malaysia, Dancomech said the acquisition will allow MTL to further streamline and integrate its operations to increase production efficiency by adding approximately 0.91 hectares of land area.

“The board is cautiously optimistic of the financial performance of the group for the financial year ending Dec 31, 2022 and that the acquisition will contribute positively to MTL’s growth in the long run,” it added.



AR RAHNU MALAYSIA ISLAMIC ECONOMIC DEVELOPMENT FOUNDATION (YaPEIM) has launched two campaigns - Sure Win and Spurring Success With Entrepreneurs (MKBU).

The Sure Win campaign offers 1.5 kg gold bars as prizes while the MKBU campaign offers eleven digital marketing grants worth RM5,000 each.

The campaign period is from Jan 1, 2022 to Dec 31, 2022.




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