KUALA LUMPUR (March 7): Here is a brief recap of some corporate announcements that made the news on Wednesday.

Permodalan Nasional Bhd’s (PNB) wholly owned unit Projek Lintasan Kota Holdings Sdn Bhd is listing its four highway concessions via a business trust, Prolintas Infra Business Trust (Prolintas Infra Trust), to raise RM445.3 million. The trust has begun taking orders from investors for its IPO and is set to be the country's first listing of a business trust. Priced at 95 sen per unit, the listing values the four toll highways — Ampang-Kuala Lumpur Elevated Highway (Akleh), Guthrie Corridor Expressway (GCE), Lebuhraya Kemuning-Shah Alam (LKSA), and Sistem Lingkaran Lebuhraya Kajang (Silk) — at RM1.05 billion. Set to be listed on March 25, the trust intends to distribute yearly distributions of at least 90% of its distributable amount. PNB values four highways at RM1.05 bil for trust IPO, expects 6.7% yield

Calcium carbonate producer Zantat Holdings Bhd has begun taking orders from investors for its IPO to raise up to RM18.2 million. The IPO, priced at 25 sen per share, involves a public issue of 56 million new shares, representing 20% of the enlarged share capital of Zantat, and an offer for sale of 16.8 million existing shares by way of private placement to selected investors. — Zantat starts taking orders for RM18.20 mil IPO

Globetronics Technology Bhd has secured a contract worth US$7.59 million (RM35.9 million) to provide technical services related to outsourced semiconductor assembly and testing from Kaynes Semicon Private Ltd. Of the total contract award of US$7.59 million, ISO Technology will reinvest US$5.28 million (net of taxes) back into the securities of Kaynes Semicon. — Globetronics bags RM36m contract from Indian company for technical services

Perdana Petroleum Bhd’s wholly owned subsidiary Perdana Nautika Sdn Bhd has secured extensions for four vessel charter contracts plus one new contract from Petronas Carigali Sdn Bhd that is worth an aggregate of RM68 million. The extensions are for three anchor handling tug and supply (AHTS) contracts and an accommodation work barge (AWG) contract. Meanwhile the new contract worth RM17.1 million to provide AHTS for up to 238 days, which will commence on the vessel’s on-hire certificate date. — Perdana Petroleum secures extension for four vessel charters, one new contract

Piling and foundation specialist Econpile Holdings Bhd has bagged a contract worth RM65.5 million to undertake road upgrade works for a project in the Cameron Highlands, Pahang. The contract won from Ahmad Zaki Resources Bhd was awarded to its subsidiary, Econpile (M) Sdn Bhd. The project is slated to be completed within 33 months, commencing from Jan 2, 2024. — Econpile bags RM65.5 mil road upgrade jobs in Cameron Highlands

Awanbiru Technology Bhd’s (Awantec) wholly owned unit has secured a RM4.96 million contract from the National Water Research Institute of Malaysia's (Nahrim) computing solutions and services for climate change research and development. The contract focuses on the implementation of high-performance computing solutions to run Weather Research and Forecasting (WRF) models in the cloud computing environment. The contract spans 30 months, running from March 8 this year until its expiry on Sept 7, 2026. — Awantec's unit wins RM4.96m contract from National Water Research Institute of Malaysia 

Jati Tinggi Group Bhd’s wholly owned subsidiary Jati Tinggi Holding Sdn Bhd has secured a RM22.06 million job from Worktime Engineering Sdn Bhd to lay underground cables for a data centre in the southern region of Peninsular Malaysia. The contract is to span a 13-month period commencing March 27, 2024. — Jati Tinggi secures RM22 mil data centre underground cable job

Ekovest Bhd managing director Tan Sri Lim Keng Cheng has been redesignated as non-executive director with immediate effect, while his alternate director Lim Ding Shyong also stepped down, citing “other commitment”. Keng Cheng, 62, is nephew to Ekovest’s executive chairman Tan Sri Lim Kang Hoo, who controls about 28% stake in the construction group. Ekovest MD Lim Keng Cheng redesignated as non-executive director

Niche Capital Emas Holdings Bhd said it has obtained approval from the Department of Environment of Malaysia (DOE) to develop gold mining processing facilities on 547ha of land in Kelantan. The company expects to commence commercial production by the third quarter this year. Niche Capital gets DOE approval for development of gold mining processing plant in Kelantan

Construction company Lim Seong Hai Capital Bhd (LSH Capital) is proposing a public offering that could potentially raise RM168.08 million as part of its listing transfer to the ACE Market from the LEAP Market. The share sale involves the issuance of 132 million new shares and an offer for sale of up to 59 million existing shares. At an illustrative price of 88 sen per share, LSH will raise RM116.16 million for construction projects and debt repayment. Lim Seong Hai Capital proposes RM168 mil share sale for listing transfer

A subsidiary of MMAG Aviation Consortium Sdn Bhd (MAC), the aviation division of MMAG Holdings Bhd, has formed a strategic joint venture with Macau's Asia Express Ltd and Suniao Supply Chain Sdn Bhd for a seafood transhipment hub in the Cainiao Aeropolis eWTP Hub at KLIA. MMAG expects the entry of the JV partners to ehance the hub's capacity to meet surging seafood demands in Asia, particularly in China. MMAG's unit forms JV for seafood transhipment hub in KLIA