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News in brief: June 15, 2022

15/06/2022 09:34 PM

BINTAI KINDEN CORPORATION BHD’s sub-subsidiary Bintai Energy Sdn Bhd has bagged a RM3 million contract from Petro Flanges & Fittings Sdn Bhd (PFF) to supply piping materials to local oil and gas (O&G) related companies.

In a filing with Bursa Malaysia, Bintai Kinden said under the contract, Bintai Energy will supply high grade carbon steel or stainless steel pipes, valves, piping accessories to established O&G related companies for maintenance and upgrading works.

Bintai Kinden executive director Azri Azerai said with the award, Bintai Energy has secured a total of RM4.6 million contracts from PFF since April to supply piping materials. The award is expected to contribute positively towards the future earnings of the group.




DATASONIC GROUP BHD’s wholly-owned subsidiary Datasonic Technologies Sdn Bhd (DTSB) has received a letter of award (LOA) from Pertubuhan Keselamatan Sosial (Perkeso) worth RM9.66 million.

The company said the award is to provide the services of developing the Data Analytics Hub for Employment Insurance System for a period of five years commencing from July 1, 2022 to June 30, 2027.

“Under the terms of the LOA, DTSB is required to furnish a performance bond for the amount of RM96,590 to PERKESO, with validity period commencing from July 1, 2022 to June 30, 2028,” it said in a filing with Bursa Malaysia, today.

The contract is expected to contribute positively towards the future earnings and net assets per share of Datasonic Group for the financial year ending March 31, 2023 and the financial years thereafter for the duration of the contract, it said.




HONG SENG CONSOLIDATED BHD has issued a letter of intent (LOI) to Invest NS to explore the possibilities to form a strategic partnership for the development of 5 parcels of leasehold land in Seremban measuring 115.23 hectares into Malaysia Green Valley (MGV).

Invest NS is a one solution centre set up by the government of Negeri Sembilan to assist investors in setting up new operations and expanding their existing operations in Negeri Sembilan.

In a filing with Bursa Malaysia, the company said MGV is envisioned to be a green industrial park designed for research and development, and manufacture cost effective and sustainable renewable energy products and the related supply chain businesses.

The LOI is not expected to have any immediate material impact on the net assets, earnings and gearing of Hong Seng Group, it said.




CENSOF HOLDINGS BHD today announced that it has acquired 41,680 treasury shares in Asian Business Software Solutions Pte Ltd (ABSS) for S$1.28 million (RM4.09 million).

The 41,680 treasury shares represent a 7.93 per cent equity interest in ABSS, increasing Censof’s equity interest in ABSS to 97 per cent from 89.07 per cent currently, upon completion of the acquisition.

In a statement, Censof group managing director Ameer Shaik Mydin said the acquisition is expected to improve Censof’s earnings with its higher equity interest in ABSS.



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