NEWS IN BRIEF: SEPT 6, 2022

LAGENDA PROPERTIES BHD’s wholly-owned subsidiary, Blossom Eastland Sdn Bhd, has entered into a joint venture with Kumpulan Hartanah Selangor Bhd (KHSB) to develop 77.29 hectares in Bernam Jaya, Selangor.

Developer Lagenda and landowner KHSB aim to build more than 2,000 units of affordable housing priced below RM250,000, a filing with Bursa Malaysia said. The plan is to launch the development  by the fourth quarter of 2023, the filing said.

KHSB is a wholly-owned subsidiary of the Selangor state government. This is Lagenda’s first foray into Selangor after Perak, Kedah, Johor and Pahang.

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-- BERNAMA

HSS ENGINEERS BHD’s associate, SMHB Sdn Bhd, has accepted a letter of appointment from Pengurusan Aset Air Bhd to providie engineering services in a Batu Pahat project in Johor worth RM11.56 million.

In a filing with Bursa Malaysia, SMHB and HSS’s wholly-owned subsidiary, SMHB Engineering Sdn Bhd, will collaborate to execute and complete the work which is to begin on Sept 19, 2022 and ends 72 months later.

The contract is expected to contribute positively to the revenue, earnings and net assets of HSS Engineers for the financial year ending Dec 31, 2022.  

-- BERNAMA

Ernst & Young PLT has resigned as ISKANDAR WATERFRONT CITY BHD (IWCity) auditors in a notice dated Sept 6, 2022 with their office term to end 21 days from Sept 27, 2022.

It was re-appointed as auditors on June 30, 2022 during IWCity annual general meeting (AGM) and was to hold office until the conclusion of the next AGM.

In a filing with Bursa Malaysia, the board “is not aware” of any other matters that need to be brought to the attention of IWCity shareholders. The filing said the resignation is “on a voluntary basis" and IWCity will identify and appoint new auditors.

-- BERNAMA

UMW GROUP’s wholly-owned subsidiary, UMW IT Services Sdn Bhd, has signed an agreement with Telekom Malaysia Bhd’s enterprise and public sector arm, TM One, to collaborate on hybrid cloud.

In a statement, the partnership signifies the next stage in UMW’s digital and transformation roadmap to consolidate and improve its current data centre architecture. 

It will also complement the group's modernisation process of its various applications and support its efforts to optimise technology and operations across its strategic business units, UMV said.

-- BERNAMA

MUBADALA PETROLEUM, the Abu Dhabi-headquartered international energy company, has been renamed Mubadala Energy.

The rebranding reflects a strategic direction to expand its gas-weighted portfolio in areas such as liquefied natural gas while it explores new energy sectors including blue hydrogen and carbon capture.

“The strategy also sees a strategic focus on decarbonising the business while driving innovation and technology across all operations,” a statement said.

-- BERNAMA