KUALA LUMPUR (June 30): Based on corporate announcements and news flow today, companies in focus tomorrow (Thursday, July 1) may include: Serba Dinamik Holdings Bhd, Aeon Credit Service (M) Bhd, Paramount Corp Bhd, Star Media Group Bhd, RCE Capital Bhd, Mah Sing Group Bhd, Ahmad Zaki Resources Bhd (AZRB), Cheetah Holdings Bhd, Nestcon Bhd, AE Multi Holdings Bhd, Green Ocean Corp Bhd, Boustead Heavy Industries Corp Bhd (BHIC), Sarawak Consolidated Industries Bhd (SCIB), MAG Holdings Bhd, Kronologi Asia Bhd and Cypark Resources Bhd.
The Employees Provident Fund (EPF) has ceased to be a substantial shareholder in
Serba Dinamik Holdings Bhd, after selling another 96 million shares or 2.57% in the oil and gas services group in the open market on June 25. In a related development, Serba Dinamik’s largest shareholder and group CEO Datuk Mohd Abdul Karim Abdullah sold 46.3 million shares or 1.2% in the group on June 28, citing force-selling as reason for the disposal. Similarly, co-fou
KUALA LUMPUR (June 11): Based on corporate announcements and news flow today, companies in focus on Monday (June 14) may include: IJM Corp Bhd, Kuala Lumpur Kepong Bhd (KLK), Serba Dinamik Holdings Bhd, Boustead Heavy Industries Corp Bhd (BHIC), Uzma Bhd, Yong Tai Bhd, Reservoir Link Energy Bhd and Sern Kou Resources Bhd.
AFP
Malaysia will allow Boustead Naval Shipyard (BNS) to resume construction of littoral combat ships for the country’s navy, the defense minister said Friday, despite its failure to deliver on schedule and an unfinished probe into missing funds in the billion-ringgit project.
The move will preserve 1,600 local jobs and more than 400 small and medium-sized businesses owned by Malay Muslims, Defense Minister Ismail Sabri Yaakob said in a statement, which did not say anything about the past delivery delays or corruption allegations.
“The Defense Ministry wishes to announce that the cabinet meeting on May 5 decided that the Boustead Group could resume the construction of LCS which was stalled since 2019,” he said. Littoral combat ships (LCS) are small, fast warships designed for shallow coastal waters.
Encik Izaddeen bin Daud. Photos credit: Boustead Plantations Berhad.
KUALA LUMPUR (March 11): Boustead Holdings Bhd deputy group managing director Izaddeen Daud is among four new appointments to the board of subsidiary Boustead Plantations Bhd.
Izaddeen, as well as Boustead Holdings group finance director Fahmy Ismail and the group’s chief reinvention and strategy officer Ahmad Shahredzuan Mohd Shariff, have been named as non-independent non-executive directors of the plantation company.
Meanwhile, Datuk Mustaffar Kamal Abdul Hamid has been appointed as an independent non-executive director, Boustead Plantations said in a statement.
The group said Izaddeen, 52, also sits on the board of Boustead Heavy Industries Corp Bhd, Pharmaniaga Bhd, Boustead Properties Bhd, UAC Bhd and Olympia Industries Bhd.
IN 2019, Lembaga Tabung Angkatan Tentera (LTAT) set a goal to reduce its heavy dependence on dividend income from the listed Boustead group of companies as part of its plan to rebalance its investment portfolio. Two years on, it seems no closer to realising that goal after it aborted its plan to take Boustead Holdings Bhd private last week.
The proposed privatisation was mooted by LTAT last May in what was seen as an important step for the armed forces pension fund to support the potential restructuring of the loss-making diversified conglomerate’s businesses away from the scrutiny of public shareholders and regulators. The proposal is now entirely off the table and attention has now shifted to Boustead to turn itself around.