KUALA LUMPUR (Dec 11): Here is a brief recap of some corporate announcements that made the news on Monday:

DRB-Hicom Bhd has entered into an agreement to form a joint-venture (JV) company with China’s auto giant Zhejiang Geely Holding Group Co Ltd for the overall operation and management of the development and construction of the Automotive Hi-Tech Valley (AHTV) project in Tanjung Malim, Perak. DRB-Hicom said it will hold a 50.1% stake in the JV company, while its Chinese partner Geely Holding will hold the remaining stake. According to DRB-Hicom, the JV agreement outlines the key principles of the strategic collaboration, alignment on objectives, and terms of the partnership. https://theedgemalaysia.com/node/693459

Shares in YTL Power International Bhd continued their upward momentum on Monday towards a fresh high since the company’s listing in 1997, after it announced its partnership with US-tech giant Nvidia Corp to build an artificial intelligence (AI) data centre in Johor. The counter opened seven sen or 2.89% higher at RM2.49, before peaking to a fresh record high of RM2.57. YTL Power then pared some gains to close nine sen or 3.72% higher at RM2.51. Shares in its parent company YTL Corp Bhd also surged in tandem to a new all-time high of RM1.87, with the stock emerging as one of the top actively-traded stocks in the local bourse on Monday. https://theedgemalaysia.com/node/693421

Censof Holdings Bhd has secured a RM9.46 million contract from the Road Transport Department (JPJ) for the maintenance, verification and calibration services of 48 weighing instruments at JPJ enforcement stations. The three-year contract expires in December 2026, with no option for extension upon expiry. https://theedgemalaysia.com/node/693456

Hong Leong Industries Bhd (HLI) has sold its investment holding firm HLI Trading Ltd (HLIT) to Guoline International Ltd (GIL) for US$7.78 million (RM36.22 million) in a related-party cash transaction. HLI said its major shareholders Tan Sri Quek Leng Chan, Kwek Leng Beng and Kwek Leng Kee are also the major shareholders of GIL, which is a wholly-owned subsidiary of GuoLine Capital Assets Ltd. The group noted that based on HLIT's audited financial statements for the financial year ended June 30, 2023, the firm's net assets amounted to RM35.68 million, while it posted a net profit of RM1.44 million. https://theedgemalaysia.com/node/693466

Supermax Corp Bhd said shareholders without any management role or position in the company’s board of directors have no authority to make any official statement on its behalf. This follows an article published by The Star last week, which quoted Supermax co-founder Datuk Wira Cheryl Tan Bee Geok, who owns a 38.38% indirect stake in the company, as saying that there is a need for a “balanced board with more independent directors with the right mindset to provide checks and balances” to drive the group forward. In its statement on Monday, Supermax said “neither the company nor its management, or any of the board members of Supermax are in any way responsible for any claims made in the article or the correctness of the content therein”. https://theedgemalaysia.com/node/693457