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News in brief : May 11, 2022

11/05/2022 07:09 PM

KPOWER BHD’S 55 per cent-owned subsidiary Mikrogrid Lestari Sdn Bhd (MLSB) has been selected as one of the successful bidders under the feed-in tariff (FiT) e-bidding exercise conducted by the Sustainable Energy Development Authority (SEDA) for the development of small hydropower in Malaysia.

In a filing with Bursa Malaysia today, KPower said under the e-bidding exercise, MLSB shall develop small hydropower plants with a total capacity of 40.4-megawatt n Gua Musang, Kelantan with a basic FiT rate of RM0.2249 per kilowatt-hour. 

The feed-in approval certificate shall be issued within 14 days upon fulfilling the conditions as set out by SEDA, it added.




FRANKLIN TEMPLETON has appointed Nor Hanifah Hashim as its head of Malaysia business, replacing Avinash Satwalekar who has relocated to India to take on the position of president of Franklin Templeton’s India business. 

In a statement today, the company said that in addition to her new role as its head of Malaysia, Nor Hanifah will continue to be the lead manager supervising its sukuk fund and mandates, including developing investment policies for the Malaysian market. 

Hanifah will be joined by Jackie Goh as head of institutional sales and David Jong as the head of retail sales in Malaysia. 




MALAYSIA INTERNATIONAL TRADE & EXHIBITION CENTRE (MITEC) has appointed Mala Dorasamy as its new chief executive officer. 

As the new chief executive officer, Mala is responsible to transform MITEC into the business and lifestyle events industry’s forefront player.

“MITEC has been the game-changer in the nation’s resilient business events industry. We are committed to helping catalyse the local and global business recovery and reform. Collaboration and partnership are essential for business recovery,” Mala said in a statement today.




LGMS BHD, an independent provider of professional cybersecurity services, has recently inked an underwriting agreement with its sole underwriter UOB Kay Hian Securities (M) Sdn Bhd in preparation for its listing on the ACE Market of Bursa Malaysia.

Executive chairman Fong Choong Fook said the company has timed its initial public offering (IPO) to fit its expansion plans and is now finalising its prospectus for the launch to take place in the coming weeks.

“Backed by the proceeds from the IPO, we will be scaling up our operations within Malaysia and regionally being Singapore, Vietnam, and Cambodia,” he said in a statement today.



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