News In Brief

Welcome to our ‘News In Brief’ column in which we digest all the news releases for you in no more than five paragraphs.
Below are snippets of all the media releases we received from Jan 20 till the end of the week.
This article updates throughout the week.

Strategic Renewable Energy Partnership

Vietnam, Jan 27: Saigon Jim Brother’s Corporation (EVM), Solarvest (Vietnam) Company Limited, and Power Engineering Consulting Joint Stock Company 2 (PECC2) have signed a Memorandum of Understanding (MoU) to advance renewable energy adoption in Vietnam.
The collaboration will leverage the Direct Power Purchase Agreement (DPPA) Mechanism via the National Grid, enabling EVM to source solar-generated electricity from a utility-scale renewable energy project. This partnership follows Vietnam’s introduction of the DPPA mechanism under Decree 80/2024/ND-CP, addressing key barriers to clean energy adoption.
“This partnership between EVM, Solarvest, and PECC2 is more than a collaboration—it’s a strategic alignment of expertise and shared values,” said Jack Tan Qi Jie, Global Vice President of Solarvest.
EVM’s CSR Senior Manager Emil Lin added, “By integrating renewable energy into our production processes, we are not only reducing our carbon footprint but also aligning with EP Group’s global sustainability goals.”
“This collaboration signifies a shared vision to overcome challenges in renewable energy adoption,” noted PECC2 COO Nguyen Hai Phu.
The initiative highlights a united effort to drive Vietnam’s energy transition and promote sustainable practices.

WTA Stars Shine at Singapore Tennis Open Welcome Party

Singapore, Jan 27: The Singapore Tennis Open (STO) 2025 officially welcomed Women’s Tennis Association (WTA) players with a glamorous Players’ Welcome Party. Ajla Tomljanović and Elise Mertens added elegance to the event by wearing kebayas, recently recognised on UNESCO’s Intangible Cultural Heritage list.
Players also showcased their rhythm by participating in a performance with local percussion group Rhythm Masala.
Guest of Honour, Edwin Tong, Minister for Culture, Community and Youth, emphasised Singapore’s commitment to hosting world-class sporting events, saying, “We hope these events will inspire and ignite a passion for sport among Singaporeans and the next generation of tennis players.”
Players expressed excitement for the STO, with Anna Kalinskaya praising Singapore’s hospitality and Emma Raducanu looking forward to building on her preparation.
Wang Xinyu highlighted the thrill of competing at the new Kallang Tennis Hub.
The inaugural STO features a 32-player singles draw and a 16-pair doubles draw, with big names like Kalinskaya, Raducanu, and Mertens set for exciting first-round clashes. Matches begin at Kallang Tennis Hub today, alongside the Singapore Tennis Invitational Cup.
Fan activities, meet-and-greets, and free-entry matches are also part of the event lineup.
More details and tickets are available here.

ES Sunlogy Berhad Launches IPO Prospectus on ACE Market

Kuala Lumpur, Jan 27: ES Sunlogy Berhad has officially launched its prospectus for an Initial Public Offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad. The IPO aims to raise RM42.0 million through the issuance of 140.0 million shares at RM0.30 each.
The funds will support key initiatives, including RM14.1 million for the development of the Selarong Large-Scale Solar Photovoltaic Plant, RM14.0 million for loan repayments, RM9.2 million for working capital, RM0.7 million for an enterprise resource planning system, and RM4.0 million for IPO-related expenses.
Managing Director Mr. Khor Chuan Meng highlighted the IPO’s significance in advancing ES Sunlogy’s renewable energy efforts and M&E engineering solutions. The company reported strong financial growth, with revenue increasing from RM50.82 million in 2022 to RM191.09 million in 2024.
The IPO is managed by M & A Securities Sdn. Bhd., acting as Principal Adviser, Sponsor, Underwriter, and Placement Agent. ES Sunlogy’s listing underscores its commitment to sustainability and Malaysia’s green energy goals.

Qatar Airways, PSG Unite

Doha, Jan 27: Qatar Airways has extended its principal partnership with Paris Saint-Germain (PSG) until 2028, further strengthening their long-standing collaboration built on shared values of excellence, ambition, and innovation. The renewed partnership includes Qatar Airways Group entities such as Qatar Duty Free and Hamad International Airport, integrating the partnership across a broader ecosystem.
The airline’s logo will remain on PSG’s jerseys across all tournaments, and Qatar Airways Holidays will continue to offer fan travel packages to Paris. The partnership also includes initiatives to enhance fan engagement and reward Privilege Club members, PSG’s official frequent flyer program.
As a global leader in aviation, Qatar Airways offers advanced technology, including in-flight Wi-Fi through Starlink, enabling PSG teams to stay connected during their travels. The collaboration exemplifies both brands’ commitment to delivering exceptional experiences to fans worldwide.
This extended partnership is part of Qatar Airways’ expansive sports sponsorship portfolio, which includes FIFA, Formula 1, UEFA, and more.
The Malaysian public’s portion of 30 million shares saw overwhelming demand, with the Bumiputera category oversubscribed by 33.59 times and the public category by 50.05 times. Additionally, shares allocated to eligible directors and employees were fully subscribed, while the private placement of 132.42 million IPO shares was fully covered.
The funds raised will support Colform’s expansion into Peninsular Malaysia and reinforce its position as a comprehensive steel solutions provider. The company is set to debut on Bursa Malaysia’s ACE Market on February 10, 2025, with Mercury Securities Sdn Bhd serving as the Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent.

Colform IPO Oversubscribed

Kuala Lumpur, Jan 27: Colform Group Berhad’s IPO has been oversubscribed by 41.82 times, showcasing strong investor confidence in Malaysia’s steel manufacturing sector. The IPO includes 114.42 million new shares and 54 million existing shares offered to the public, employees, and private placements.
The public issue of 30 million shares saw an oversubscription rate of 33.59 times for the Bumiputera category and 50.05 times for public investors. The private placement of 132.42 million shares was also fully covered.
The funds raised will support Colform’s expansion into Peninsular Malaysia and strengthen its position in the steel solutions industry. Colform is set to list on the ACE Market of Bursa Malaysia on February 10, 2025.

DC Healthcare Expands East

Kota Kinabalu, Jan 27: DC Healthcare Holdings Berhad has launched its first Dr Chong Clinic in Kota Kinabalu, Sabah, marking the Group’s expansion into East Malaysia.
Located at KK Times Square, the clinic offers non-invasive and minimally invasive aesthetic treatments using advanced technology.
This milestone aligns with the Group’s nationwide expansion strategy, bringing its total to 19 Dr Chong Clinics and 4 Dr Chong Slimming centers. DC Healthcare also introduced DC Academy to train professionals in the aesthetic industry. With this expansion, the Group aims to meet growing demand for premium aesthetic

SCIB Pursues RM19.7 Million

Kuching, Jan 27: Sarawak Consolidated Industries Berhad (SCIB) has issued a demand for repayment of RM19.7 million from Awana JV Suria Saga Sdn. Bhd. after the latter failed to meet obligations under the Settlement Agreement. The amount includes RM18.6 million from SA 2023, RM0.49 million from SA 2024, and RM0.58 million assigned from SCIB Industrialised Building System Sdn. Bhd.
SCIB has terminated the agreement and issued a 14-day notice for repayment. If Awana fails to comply, SCIB will initiate legal proceedings to recover the amount, along with associated costs. This move reflects SCIB’s commitment to financial discipline and protecting stakeholder interests.