KUALA LUMPUR (Oct 13): Here is a brief recap of some corporate announcements that made news on Friday: TIME dotCom Bhd, Hibiscus Petroleum Bhd, One Glove Group Bhd, Dolphin International Bhd and Hexza Corp Bhd.

The Employees Provident Fund (EPF) has raised its stake in TIME dotCom Bhd to 9% after acquiring a 1.47% stake in the telecommunications service provider and data centre operator. The pension fund acquired an aggregate 27.91 million shares and disposed of 769,500 shares on Oct 10 — translating to a net acquisition of 27.14 million shares or 1.47% stake.

Hibiscus Petroleum Bhd's wholly owned unit Anasuria Hibiscus UK Ltd has received conditional approval for its proposed acquisition of a 42.5% stake in Rapid Oil Production Ltd’s licence for an undeveloped oil field known as Fyne Field. Hibiscus said the approval by the North Sea Transition Authority is subject to the legal transfer of the farm-in-interest being done in a form approved by the authority. It is also subject to the acquisition being completed by Jan 9, 2024.

One Glove Group Bhd plans to undertake a capital reduction of RM120 million to eliminate accumulated losses of the glove manufacturing company. The balance, if any, will be credited to a capital reserve account of the company, which will be used towards setting off future losses. As of Thursday, One Glove had a total of 441.21 million shares in issue. In addition, it had 87.5 million irredeemable convertible preference shares held by BT Capital Sdn Bhd, and 71 million outstanding warrants 2023/2028 in the company.

Palm oil mill manufacturer Dolphin International Bhd has decided not to proceed with a rights issue that it had proposed early this year for now, as it intends to relook into the exercise in its entirety and revise the utilisation of the proceeds to be raised. Dolphin said the decision came after taking into consideration the group’s recent financial performance, as well as the changes in its financial needs.

Hexza Corp Bhd spent US$7.77 million (RM36.72 million) to acquire 185,000 shares in Nasdaq-listed robotics warehouse automation company Symbiotic Inc. Hexza spent US$7.77 million (RM36.72 million) to acquire 185,000 shares in Nasdaq-listed robotics warehouse automation company Symbiotic Inc. Meanwhile, Hexza disposed of 10,000 shares in graphics processing unit designer Nvidia Corp for US$4.63 million on the Nasdaq stock market. It sold the block of shares at US$463.20 apiece on Wednesday.