Kuala Lumpur News

PUC to Acquire Alevate Solutions

PUC Berhad has announced a revised proposed acquisition of Alevate Solutions Sdn. Bhd. for RM100 million through the issuance of 800 million new shares at RM0.125 per share. The move strengthens PUC’s digital marketing and business consultancy services, particularly targeting SMEs in the F&B and retail sectors.
Alevate Solutions guarantees a minimum profit after tax of RM12.5 million for 2025-2026, which is expected to boost PUC’s financial performance and expand its customer base. PUC will also implement a Share Issuance Scheme (SIS) to reward and retain key talent.
This acquisition positions PUC for revenue growth, regional expansion, and enhanced service offerings.

Directors’ Pay Trends Revealed

Aon plc and FIDE FORUM released the 2024 Director’s Remuneration Report, highlighting trends in non-executive directors’ (NEDs) compensation across Malaysian financial institutions.
The report revealed governance costs range from RM500,000 to RM3.5 million, influenced by institution type and asset size. Retainer fees for board chairs are 1.3 to 2 times higher than for board members, with meeting allowances remaining consistent.
Key findings include 99 per cent of institutions providing director insurance, 56 per cent offering medical benefits, and 33 per cent supporting learning and development opportunities.
Gender diversity improved, with 87 per cent of boards having at least one woman director.
The report emphasized the importance of aligning compensation with governance and talent demands.

Public Bank Solar Initiative

Public Bank and Jati Tinggi Group Berhad have signed an MOU to install photovoltaic (PV) solar panel systems across 135 Public Bank branches, involving 333 properties.
The RM14.88 million project aims to accelerate Public Bank’s carbon neutrality target by 2030 and net-zero emissions by 2050.
Installation will begin in early 2025 and is expected to conclude within three years, reinforcing both organizations’ commitment to sustainability and ESG goals.

MClean Shareholders Approve Proposals

MClean Technologies Berhad secured shareholder approval for five strategic resolutions at its EGM, aiming to strengthen financial performance and drive growth.
Key resolutions include a private placement of up to 49.3 million shares to raise RM12.3 million, supporting growth initiatives such as the RM6.04 million acquisition of We Total Engineering Sdn. Bhd.’s plastic injection moulding business. Shareholders also approved a RM35 million share capital reduction to offset accumulated losses and enhance financial flexibility.
The initiatives position MClean for long-term expansion, profitability, and market diversification.

TOPVISION Lists on ACE

TOPVISION Eye Specialist Berhad marked its transfer to the ACE Market of Bursa Malaysia, debuting at RM0.390 per share, an 18.18 per cent premium over its issue price of RM0.330.
The listing raised RM17.9 million, with funds allocated for the development of TOPVISION International, new centers in Kuala Terengganu and Tawau, medical equipment purchases, and listing expenses. Operating 11 ambulatory care centres nationwide, TOPVISION aims to expand its presence and elevate eye healthcare services across Malaysia.