News in brief: June 28, 2022

AGMO HOLDINGS BHD has entered into an underwriting agreement with Kenanga Investment Bank Bhd (KIBB) in conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.

In a statement today, the home-grown digital solutions and application development specialist said Bursa Securities has recently approved its listing on the ACE Market of Bursa Securities.

“The company is targeting a prospectus launch with an IPO exercise comprising 85,000,000 new shares,” Agmo said. 

KIBB will underwrite a total of 22,750,000 new shares comprising 16,250,000 new shares made available to the Malaysian public and 6,500,000 new shares made available to its eligible directors, key senior management, employees, and business associates.

-- BERNAMA

RAMSSOL GROUP BHD has launched a resume verification platform to serve both job seekers and employers during the hiring processes.

In a statement today, Ramssol said the platform, called Profile.la, is an initiative to meet the current demand, trends, and needs in identifying the authenticity of a candidate for the security of the organisation and to safeguard the organisation from fraudulent candidates.

Chief operating officer and co-founder Lee Miew Lan said he urges all users to join and create their accounts at no cost.

“Profile.la simplifies and speeds up resume sharing via our unique QR code or paperless walk-in-interview experience, especially during career fairs. Users can also track who had retrieved their profiles,” he said.

-- BERNAMA

KASPERSKY is urging companies to seriously look into securing their remote and hybrid workforce to protect their data, given that the remote work concept is here to stay.

In a statement today, the global cybersecurity and digital privacy company said the remote desktop protocol (RDP) attack attempts among its users in Southeast Asia increased by 149 per cent from 2019 to 2021, while RDP attacks recorded in the region spiked to 214.95 million cases in 2020 from 65.65 million in 2019.

“With the first wave of lockdowns, computers that have been hurriedly made available to remote workers were incorrectly configured.

“This scenario provided an opportunity for cybercriminals to launch attacks, particularly using brute-force attack attempts (systematically trying to find the correct username-password pair) to successfully get remote access to the target computer in the network,” it said.

-- BERNAMA

ELK-DESA RESOURCES BHD plans to acquire a piece of freehold industrial land together with buildings erected thereon in Klang, Selangor, for RM19.28 million cash.

For the proposed acquisition, the company’s indirect wholly-owned subsidiary ELK-Desa Furniture Marketing Sdn Bhd (EDFM) has entered into a sale and purchase agreement with Zhongxin Realty Sdn Bhd today.

“The acquisition would allow EDFM to own a permanent business premise for growing its furniture trading business.

“Barring any unforeseen circumstances, the proposed acquisition is expected to be completed within three months from the date of the agreement,” Elk-Desa said in a filing with Bursa Malaysia.

-- BERNAMA

KIM LOONG RESOURCES BHD’s net profit for the first quarter ended April 30, 2022, rose to RM39.23 million from RM28.38 million in the same quarter last year.

Revenue soared to RM509.74 million from RM312.45 million previously, mainly due to higher average selling prices of fresh fruit bunches (FFB) and crude palm oil (CPO) by 56 per cent and 58 per cent, respectively, the company said in a filing with Bursa Malaysia today.

It also said that FFB production was higher by seven per cent whilst the CPO production had also increased by two per cent.

On prospects, Kim Loong said the management will still remain vigilant and resilient in dealing with challenges and any potential adverse impact arising from the COVID-19 pandemic on group operations.

-- BERNAMA