In the latest installment of Kuala Lumpur News, Globetronics Technology Bhd (GTB) reassured stakeholders that the recent voluntary resignation of auditors KPMG PLT will not disrupt the company’s operations, as UHY Malaysia takes over the role, ensuring smooth financial reporting.
Meanwhile, Solar District Cooling Group Berhad (SDCG) announced the overwhelming success of its IPO, which was oversubscribed by 144.08 times, reflecting strong investor confidence ahead of its debut on Sept 19.
Additionally, Magma Group Berhad secured shareholder approval for its RM100 million Redeemable Convertible Notes (RCN) issuance, aimed at strengthening its hospitality business through hotel upgrades and debt repayment amidst a recovering tourism sector.
Auditor Change No Impact
Globetronics Technology Bhd (GTB) confirmed that the voluntary resignation of auditors KPMG PLT, effective Sept 25, will not disrupt the company’s operations or financial reporting.
GTB reassured stakeholders that the transition to UHY Malaysia as the new auditor aligns with the Group’s strategic goals, ensuring seamless continuity.
The Board remains committed to transparency and strong corporate governance during this period.
SDCG IPO Oversubscribed 144 Times
Solar District Cooling Group Berhad (SDCG) has announced that its Initial Public Offering (IPO) on the ACE Market of Bursa Malaysia has been oversubscribed by 144.08 times.
SDCG, specialising in building management and solar thermal systems, received over 31,000 applications from the public, showcasing strong investor confidence in its energy efficiency services. The IPO, which includes 118.67 million new shares, will see the company’s debut on Sept 19.
Magma’s RM100m Fundraising Approved
Magma Group Berhad has received shareholders’ approval at an Extraordinary General Meeting (EGM) for its RM100 million Redeemable Convertible Notes (RCN) issuance.
The funds will support the company’s financial position, including working capital, hotel facility upgrades, and debt repayment.
Magma aims to strengthen its core hospitality business, modernize flagship hotels, and capitalise on growth in the recovering tourism sector.
The company is focused on enhancing competitiveness and operational efficiency in the hospitality industry.
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