Kuala Lumpur News

In the latest instalment of Kuala Lumpur news, significant corporate updates took centrestage. Qatar Airways Cargo and MASkargo signed an MoU to enhance cargo operations, Presto and OldTown White Coffee celebrated Team Malaysia Youth All Girl’s historic gold medal win at the ICU International Cheerleading Cup, and PUC Berhad acquired Alevate Capital and Alevate Solutions for RM200 million. Maybank Islamic launched MyQurban, a digital Qurban booking platform supporting humanitarian efforts in Palestine, while Synergy House Global Sdn Bhd was appointed as an authorized service partner by a leading home retailer. Additionally, Hektar Asset Management announced the resignation of its CEO, Johari Shukri Jamil, and DC Healthcare Holdings Berhad successfully held its Second AGM, reaffirming its commitment to sustainable growth in the medical aesthetics sector. Read more below.

Cargo Airlines Join Forces

Doha, June 10: Qatar Airways Cargo and MASkargo have signed a Memorandum of Understanding (MoU) to enhance cargo operations and connectivity. This agreement leverages both airlines’ networks and hubs—Hamad International Airport and Kuala Lumpur International Airport—providing increased cargo offerings.
This collaboration allows MASkargo customers to access Qatar Airways Cargo’s global network, while Qatar Airways Cargo customers gain entry to the APAC market. Both airlines will utilise the new and expanded Cargo Terminal in Doha and recently acquired aircraft to boost capacity.
Qatar Airways Group Chief Executive, Engr. Badr Mohammed Al-Meer, emphasised the deepening relationship with Malaysia and the APAC market, stating, “This strategic cooperation with our oneworld partner will serve to link our freighter and belly-hold networks with our cargo product offering and capacity.”
Malaysia Aviation Group Managing Director, Captain Izham Ismail, highlighted the collaboration’s significance, adding, “By leveraging each other’s strengths, we are poised to deliver unparalleled service to our customers and achieve remarkable growth together.”
Qatar Airways and Malaysia Airlines, partners since 2004, have expanded their codeshare agreement to include 62 destinations across various regions.

Brands Celebrate Cheer Victory

Kuala Lumpur, June 10: Presto and OldTown White Coffee celebrated the historic gold medal win of Team Malaysia Youth All Girl (TMYAG) at the ICU International Cheerleading Cup 2024.
The victory celebration took place at OldTown White Coffee’s Jaya One outlet.
Local brands, including Neucvr, SAYS Energy Drink, and ButterCup, joined the event to honour the athletes’ achievements and offer rewards for their dedication.
“By working together, we hope to inspire more young athletes and reinforce the importance of supporting local talent,” said Prawn Cheng, Presto’s Chief Merchandising and Marketing Officer.
“As a home-grown brand, we take immense pride in nurturing local talent and contributing to our community’s success,” added Phan Tsui Suan, Head of Brand & Marketing at OldTown White Coffee.
The event aimed to inspire young athletes and highlight the importance of community and corporate support in sports development. TMYAG’s journey from a Bronze at the ICU Junior World Cheerleading Championships to Gold at the ICU International Cheerleading Cup showcases their dedication and perseverance.
Attendees included TMYAG athletes, coaches, the Cheerleading Association and Register of Malaysia (CHARM) Vice President, and brand partners of Presto.

PUC Acquires Alevate Firms

Kuala Lumpur, June 10: PUC Bhd has announced the acquisition of Alevate Capital and Alevate Solutions, valued at RM200 million, to enhance its Martech, Fintech, and Entertainment Technology sectors. The acquisition includes a profit guarantee of RM32 million over the next two years.
Alevate Capital provides money lending services, while Alevate Solutions offers technology and digital transformation solutions.
This acquisition is expected to significantly improve PUC’s service offerings and operational efficiencies.
“These acquisitions represent a significant step forward in our strategy to enhance our technology capabilities and market presence,” Cheong Chia Chou, Group Managing Director and CEO of PUC said.
Tham Lih Chung, CEO of Alevate Capital and Alevate Solutions, added, “This partnership allows us to leverage our combined strengths in Fintech and Martech to offer even more innovative and integrated solutions to our clients.”
PUC will issue 800 million shares and pay RM7.5 million in cash as part of the purchase. The company anticipates improved revenue streams and the expansion of its business network.

Maybank Islamic Launches MyQurban

Kuala Lumpur, June 11: Maybank Islamic Berhad has launched MyQurban, a digital financial service offering the convenience of fulfilling Qurban obligations at your fingertips for Aidiladha.
This initiative is part of Maybank Islamic’s ongoing commitment to make its Shariah-compliant wealth management services more accessible by digitising its product range.
MyQurban is an ideal platform for booking Qurban, especially for customers who value time flexibility and prefer online transactions. In collaboration with four Qurban providers—Yayasan Budi Ihsan Malaysia (YBIM), EZQurban, Aqiqah Centre, and Aqiqah4u—customers can participate in Qurban outside Malaysia at more affordable costs.
One of the benefits of the MyQurban platform is a RM20 discount for each Qurban portion ordered. Additionally, Maybank Islamic enhances this year’s Qurban experience through a Sadaqah campaign.
For every Qurban portion ordered, Maybank Islamic will match the contribution, and the funds will be donated to Mercy Malaysia for humanitarian missions in Palestine.
Maybank Islamic CEO, Dato’ Muzaffar Hisham, said, “The Qurban ritual holds profound significance for Muslims. As the leader in Islamic banking in Malaysia, we continually innovate our services to provide peace of mind for our customers so they can fulfill their obligations, including Qurban, to the best of their ability.”
MyQurban is part of Maybank Islamic’s comprehensive Islamic wealth management solutions, encompassing all five wealth management pillars—creation, accumulation, protection, purification, and distribution.
This campaign was launched at an exclusive event for Maybank Islamic Private Wealth customers, featuring special guest Mufti Menk, a globally renowned scholar frequently listed among the “500 Most Influential Muslims in the World,” known for his motivational talks on peace, humanity, and self-reflection.
Experience the fulfillment of Qurban with Maybank Islamic’s MyQurban from now until June 19, 2024.
To register, visit maybank.my/myqurban.

Synergy House’s New Partnership

Shah Alam, June 11: Synergy House Berhad’s subsidiary, Synergy House Global Sdn Bhd (SHG), has been engaged as an authorised service partner in Malaysia by one of the world’s largest home retailers. SHG will support local manufacturers and vendors by facilitating their integration into the retailer’s global e-commerce platform and co-organising events to onboard new vendors.
The inaugural event for vendors is set for July 3, 2024.
SHG will also provide advisory and support services to vendors operating on the retailer’s platform.
Executive Director of Synergy House, Tan Eu Tah, stated, “SHG will play an important role in creating awareness operating as a cross-border e-commerce player.”
Executive Director Teh Yee Luen added, “This milestone event will open up a new possibility of income stream for SHG through selected services that SHG is able to provide to the vendors.”
The engagement is not expected to have an immediate material effect on the Group’s financials, and there are no significant risks beyond manageable operational risks.

Hektar CEO Resigns

Kuala Lumpur, June 11: Hektar Asset Management Sdn. Bhd., manager of Hektar REIT, announced the resignation of its CEO, Johari Shukri Jamil, effective June 11, 2024.
Johari steps down to pursue new opportunities after serving as CEO since June 2022.
The board expressed gratitude for Johari’s leadership, noting his role in reviving profitability and confidence post-pandemic.
Hektar REIT continues its growth and diversification strategy, including the acquisition of Kolej Yayasan Saad Melaka (KYSM), expected to be completed by June.
The REIT aims to increase its assets under management, revenue, and valuations for sustainable growth.

DC Healthcare’s AGM Success

Kuala Lumpur, June 11: DC Healthcare Holdings Berhad successfully held its Second Annual General Meeting (AGM) virtually, where all resolutions, including the adoption of the 2023 Audited Financial Statements and the re-election of directors, were approved.
Managing Director Dr. Chong Tze Sheng expressed gratitude to shareholders, stating, “We are incredibly thankful for the continued support and trust our shareholders place in us. This AGM not only reflects our commitment to transparency and robust corporate governance but also sets the path for our strategic initiatives.”
DC Healthcare aims to expand its clinics across Malaysia, recruit skilled staff, and upgrade medical equipment to drive sustainable growth in the medical aesthetics sector.

Bintai Kinden Wins Contracts

Petaling Jaya, June 11: Bintai Kinden Corporation Berhad (BKCB) announced that its subsidiary, Kejuruteraan Bintai Kindenko Sdn. Bhd. (KBK), has secured two sub-contracts totaling RM22.3 million for constructing double-storey houses in Mukim Jalan Bakri, Muar, Johor.
The first sub-contract, worth RM7.6 million, covers 8 semi-detached houses, while the second, worth RM14.7 million, includes 21 terrace houses.
Both projects, awarded by Lu Chin Poh Construction Sdn. Bhd. (LCPC), are expected to complete by September 1, 2025. Datuk Tay Chor Han, CEO of Bintai Kinden, stated, “We are pleased to have secured these sub-contracts, which are expected to contribute positively to our earnings over the next two financial years.”
These contracts are set to enhance BKCB’s financial performance and shareholder value, with the company’s share price closing at 8.5 sen, reflecting a market capitalisation of RM103.7 million.