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BUSINESS

News in brief: May 31, 2022

31/05/2022 08:09 PM

OM HOLDINGS LTD said the binding Letter of Offer between OM Materials (S) Pte. Ltd (OMS) and Samalaju Industries Sdn Bhd (SISB) relating to the acquisition by OMS for all the shares held by SISB in OM Materials (Sarawak) Sdn Bhd (OM Sarawak) and OM Materials (Samalaju) Sdn Bhd (OM Samalaju) has been extended from May 30 to June 14, 2022.

In a filing with Bursa Malaysia, it said OMS and SISB have mutually agreed on the extension and will continue to cooperate and act in good faith to finalise and enter into a definitive agreement (which will take the form of a share purchase agreement for the transaction on or before the extended deadline of June 14, 2022.

“Other than the extension date, the binding Letter of Offer will remain in full force and effect in accordance with its terms and conditions,” it said.

-- BERNAMA

 

NESTLÉ MALAYSIA is the first company in Malaysia to use high-quality recycled plastic resin (rPET) for its Ready-to-Drink (RTD) products in plastic bottles format, in its efforts to tackle plastic waste.  

In a statement today, it said to-date, 90 per cent of Nestlé Malaysia’s packaging materials are already designed for recycling.

Nestlé (Malaysia) Bhd chief executive officer Juan Aranols said by transitioning to 100 per cent rPET bottles and more paper-based packaging solutions, the company has reduced the use of virgin plastic and improve the carbon dioxide footprint.

“This reflects our company’s ongoing commitment to shape a waste-free future,” he said.

-- BERNAMA

 

PROTON has sent its first shipment of vehicles to South Africa on May 27, following the signing of an agreement to appoint CMH Group as its distributor in that country.

In a statement today, Proton said the vehicles, consisting of Proton X50, Proton X70 and Proton Saga, also represent the first batch of Proton cars to be sent to the nation since 2012.

The ship ferrying the vehicles left Westport, Klang, and is expected to arrive in Durban, South Africa, in July this year, it said.

“South Africa is a mature and competitive market, but we are confident that Proton X50, Proton X70 and Saga have the right combination of features and value to compete with other brands there,” said Proton director of international sales Steven Xu. 

-- BERNAMA

 

PGF Capital Bhd (PGF), which is involved in the design, manufacture and distribution of glass mineral wool insulation, has registered a wholly-owned subsidiary known as PGF Insulation Pty Ltd in Victoria, Australia under the Australian Corporations Act 2001.

In a statement today, PGF said, while the Group has been exporting to markets such as Southeast Asia, South Asia, the Middle East, and Asia Pacific, the newly incorporated subsidiary will act as a platform to undertake its expansion of businesses in manufacturing division in the Oceania region.

Executive chairman Fong Wern Sheng said the establishment of the subsidiary in Australia, coupled with the setting up of its regional headquarters in Melbourne, Victoria will enable the Group to be in closer proximity to the Oceania market, increasing its ability to read and analyse customer needs and respond in a timely manner.   

“We are currently looking to set up multiple warehouses in the Oceania region to serve as our logistic and distribution hubs,” he said and adding the Group will set up these logistic and distribution hubs in stages and expect to have at least three hubs to be in operation by the third quarter of 2023.

-- BERNAMA

 

TA WIN HOLDINGS BHD announced that its wholly-owned subsidiary, Ta Win Copper Biohealth Sdn Bhd, today entered into a research and development collaboration agreement with Universiti Putra Malaysia (UPM) to collaborate in a project named 'the modulation of the mechanistic effect of copper in exerting its antioxidant and anti-diabetes effect in diabetes wound healing in vitro and in vivo'.

In a filing with Bursa Malaysia, Ta Win said the collaboration is to evaluate the healing effect of copper in line with Ta Win’s strategy to explore downstream applications of the biochemistry and chemistry of copper with various anti-microbial benefits for broad range of healthcare applications. 

Ta Win specialises in providing integrated copper-related solutions which include manufacturing, marketing and commercialisation of various copper wire, cable and healthcare products, while UPM  specialises in research and development, formulation and technical know-how of biomedical and medical sciences.

-- BERNAMA

 

MR. DOLLAR, a fixed price retailer, said it is committed to retaining the prices of 10,000 of its popular products at just RM2. 

A subsidiary of Malaysia’s largest home improvement retailer, MR D.I.Y. Group, MR. DOLLAR is known for its wide range of products offered at fixed prices, giving rise to the moniker “Kedai Harga Tetap”.

MR D.I.Y. Group head of marketing Alex Goh said the Group understands the struggles that the people are facing today, and on the backdrop of multiple issues affecting the economy, especially the global supply chain, many retailers have been forced to raise prices.

“However, by relying on stringent data analytics and leveraging the strong direct relationships the Group have with global manufacturers, MR. DOLLAR is able to commit to maintaining the prices on 10,000 everyday essentials at just RM2,” he said.

-- BERNAMA

 

 


 


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