KUALA LUMPUR (Nov 2): Here is a brief recap of some corporate announcements that made news on Thursday involving Berjaya Corp Bhd (BCorp), Salcon Bhd, AirAsia X Bhd (AAX), MSM Malaysia Holdings Bhd, Atrium Real Estate Investment Trust’s (Atrium REIT), Pentamaster Corp Bhd, Plytec Holdings Bhd and Yoong Onn Corporation Bhd.

Berjaya Corp Bhd (BCorp) has emerged as a substantial shareholder of Salcon Bhd, after acquiring a 5.43% stake on Thursday. Following the acquisition of the stake comprising 55 million shares, BCorp is the third largest shareholder of the water and wastewater engineering company. The largest shareholder of Salcon is its executive deputy chairman Tan Sri Tee Tiam Lee, with a direct interest of 5.785% and indirect interest of 6.761% via Infra Tropika Sdn Bhd. This is followed by non independent and non executive director Datin Goh Phaik Lynn with a 10.58% stake.

AirAsia X Bhd (AAX) has submitted an appeal against Bursa Securities’ recent decision to reject the medium- and long-haul budget carrier's application to exit Practice Note 17 (PN17) status. In a statement on Thursday, the airlines said its foremost short-term goal is to emerge from the PN17 status as smoothly and swiftly as possible to boost the post-pandemic upward trajectory for future sustainable and profitable growth.
Meanwhile, AAX has bagged a contract worth RM29.7 million to operate charter flights to transport the Malaysian Battalion (Malbatt) 850 forces to Lebanon and back, as part of the United Nations Interim Force in Lebanon’s (Unifil) peacekeeping mission. AAX said it had signed a passenger and ancillary services agreement with AirAsia Bhd. The low-cost carrier is primarily involved in chartering flights between the Royal Malaysian Air Force (RMAF) air base in Subang and Beirut for four flights per year.

MSM Malaysia Holdings Bhd has agreed to discontinue the legal proceedings against Gas Malaysia Energy and Services Sdn Bhd over a disputed sum of RM10.32 million relating to gas supply to its wholly-owned unit MSM Sugar Refinery (Johor) Sdn Bhd. The sugar refinery company told Bursa on Thursday that notices of discontinuance were filed to the Kuala Lumpur High Court on Nov 1 to signify the conclusion of the writ action with each party to bear its own costs and without liberty to file afresh.

Atrium Real Estate Investment Trust’s (Atrium REIT) asset manager Atrium REIT Managers Sdn Bhd has acquired buildings and leasehold land in Shah Alam from a related party, Amazing Blitz Sdn Bhd, for RM41 million cash.

Pentamaster Corp Bhd’s net profit grew 17.1% to RM23.5 million or 3.3 sen per share in the third quarter ended Sept 30, 2023(3Q2023) from RM20.07 million or 2.82 sen per share a year ago, as it saw improvements across its business segments, mainly its factory automation solutions (FAS) segment. Revenue climbed 16.2% to RM180.74 million from RM155.6 million.

Plytec Holdings Bhd’s 30.3 million new shares involved in the public portion of its initial public offering have been oversubscribed by 6.72 times. The construction engineering solution provider said that the public portion had received 3,451 applications for 233.87 million shares.

Yoong Onn Corporation Bhd has proposed to acquire a 60% stake in Singapore-based TC Homeplus for a total cash consideration of S$10.95 million (approximately RM38.16 million). According to the group, TC Homeplus is principally involved in the business of trading, distributing and retailing curtains, pillow cases, bed sheets and bed spreads.