Sapura Energy, AirAsia X, Axiata, Digi.Com, TWL, Cepatwawasan, Affin Bank, UEM Edgenta, Computer Forms, Resintech and Majuperak
KUALA LUMPUR (April 1): Here is a brief look at some of the corporate announcements and news feed from Friday April 1 involving Sapura Energy Bhd, AirAsia X Bhd, Axiata Group Bhd, Digi.Com Bhd, TWL Holdings Bhd, Cepatwawasan Group Bhd, Affin Bank Bhd, UEM Edgenta Bhd, Computer Forms (Malaysia) Bhd, Resintech Bhd and Majuperak Holdings Bhd.
Sapura Energy Bhd secured a temporary deferral from lenders for unpaid interest and coupon payments for its RM10.3 billion Multi-Currency Funding (MCF) facilities. The reprieve is provided throughout the three-month injunction given to Sapura Energy by the court, which the group obtained on March 10, to develop its restructuring plan.
The oil and gas company received formal notification of the postponement on March 31 from Maybank Investment Bank Bhd in its capacity as intercreditor agent for MCF financiers. Under the MCF facilities, Sapura Energy’s unit, Sapura TMC Sdn Bhd, has interest due and payable on March 30, 2022 for term loan facilities amounting to US$602 million (US$2.5 billion). RM) and 906 million RM. Sapura TMC also has periodic sukuk profit payments due and payable on March 31 for unrated murabahah sukuk amounting to US$125 million (RM518.5 million) and RM6.38 billion. The financiers of the MCF facilities are not bound by the court’s restraining order to the creditors of Sapura Energy.
Air Asia X Bhd Group Managing Director (CEO) Nadda Buranasiri resigned on Friday April 1 due to his resignation as CEO of Thai AirAsia X Co Ltd. The 59-year-old Thai citizen was appointed CEO of Thai AirAsia X in 2014. Subsequently, he was appointed CEO of AirAsia X Group on November 1, 2018.
Securities trading in Axiata Group Bhd and Digi.Com Bhd has been suspended effective immediately from 9 a.m. Friday (April 1), pending the release of an expected material announcement. It comes after the High Court (Commercial Division) on Tuesday granted an injunction that could prevent Axiata’s Malaysian operations – Celcom Mobile Sdn Bhd’s 5.25 million shares in Tune Talk Sdn Bhd – from being included in the proposed sale of all of Axiata’s stake in Celcom Axiata Bhd to Digi.Com as part of the proposed merger between the telecommunications operators.
Loss-making property developer TWL Holdings Bhd (formerly Tiger Synergy Bhd) has signed a Memorandum of Understanding (MoA) to form a joint venture (JV) for the development and distribution of medical, pharmaceutical and other healthcare related products in Malaysia and Southeast Asia. Is. She entered the MoA on Wednesday March 30 with Tatra Investment LLC, a UAE-based company that is primarily involved in investment and product manufacturing, marketing and sales activities. The JV company called Tatra TWL Medicare Sdn Bhd will have a 50% stake held by TWL and the remaining 50% will be held by Tatra. While TWL is primarily involved in construction and property development, it recently created a medical products arm to capitalize on opportunities arising from the Covid-19 pandemic.
Two former directors of Cepatwawasan Group Bhd were given three months from Friday, April 1 to reimburse the company for RM13 million used to illegally pay Opti Temasek Sdn Bhd, an action in violation of the financial assistance provisions of Bursa Malaysia’s listing requirements. Otherwise, Tengku Datuk Kamal Sir Sultan Abu Bakar and Lieutenant-Colonel Tengku Datuk Kamarul Zaman Sir Sultan Abu Bakar face a five-year prison sentence. To recap, they had caused Cepatwawasan’s subsidiary, Prolific Yield Sdn Bhd, to pay Opti Temasek RM13 million in 2004, shortly before their withdrawal in August of the same year.
Affin Bank Bhd implements a reward program for the senior executives of the group and its units, which involves the payment of part of their discretionary performance bonus from the financial year ended 31 December 2021 (FY21) via shares of the banking group. the shares will be purchased on the open market from Bursa Malaysia Securities Bhd and will be held in an omnibus stock trading account and vest accordingly to key senior management upon meeting the bonus terms and conditions. These terms and conditions are based on key senior management meeting key performance indicators related to financial and business objectives, as well as risk management and regulatory compliance requirements,” Affin said.
EMU Edgenta BhdThe Operon Middle East (Operon) unit has signed a business exploration agreement with Byte Blanket FZE and Disrupt-X DMCC to identify potential technology collaborations to support sustainable smart cities and introduce digital solutions to the Middle East market . He said the collaboration is part of the group’s continued foray into the integrated facilities management market in the region, as it focuses on its regional expansion strategy, while developing integrated solutions based on technology aligned with its “Edgenta of the Future 2025” vision. Disrupt-X is the provider of a scalable end-to-end IoT platform solution, while Byte Blanket owns Enter Bubble Technologies, a disruptive digital framework with the potential to revolutionize smart cities and industries through micro-grids. -spontaneous socials around the world.
Computer Forms (Malaysia) Bhd clarified that he was unaware of plans by its major shareholder Datuk Seri Dr. Pang Chow to print banknotes. “Computer Forms’ Board of Directors wishes to clarify that it has not been made aware of any information relating to the vision cited by Pang for the company to print banknotes, as reported today by the media. New Straits Times and Focus Malaysia,” the company said. Both publications previously quoted Pang’s statement after he made an unconditional mandatory takeover bid for Computer Forms.
Resintech Bhd proposed a free allocation of 50.31 million new shares at the rate of one free share for three existing shares held. In addition, it proposed a free allocation of up to 100.62 million free BSAs on the basis of one BSA for two existing shares in order to reward shareholders.
Majuperak Holdings Bhd has submitted a request to Bursa Malaysia Securities Sdn Bhd for a 12-month extension until April 11, 2023 to submit its regularization plan to the relevant authorities. He is currently due to submit the plan on April 12. It was categorized as a relevant issuer after triggering paragraph 8.03A(2)(b) of the Bursa Malaysia Core Market Listing Requirements, where it is deemed to have insignificant business or operations. after its unaudited financial statements for the year ended December 31, 2019, showed the company recorded annual revenue of RM6.28 million on a consolidated basis, less than 5% of its capital share capital of RM179.59 million.