Kuala Lumpur News

Ge-Shen Strengthens Financials

Kuala Lumpur, Feb 5: Ge-Shen Corporation Berhad (“Ge-Shen” or the “Group”) has announced a single-tier interim dividend of 6 sen per share, totaling RM8.07 million for the financial year ended 31 December 2024.
The dividend will be paid on 3 March 2025 to shareholders registered by 19 February 2025.
Alongside this, Ge-Shen is optimising its asset portfolio by disposing of five freehold industrial properties in Mukim Tebrau, Johor Bahru, for RM35 million.
The proceeds will be used to repay bank borrowings and support working capital, reinforcing financial flexibility and long-term growth.
Ge-Shen remains focused on precision manufacturing and Industry 4.0 advancements to drive innovation and efficiency while maintaining shareholder value.

RichTech IPO Oversubscribed

Kuala Lumpur, Feb 4: RichTech Digital Berhad’s Initial Public Offering (IPO) has been oversubscribed by 245.42 times, reflecting strong investor confidence in Malaysia’s electronic reload and bill payment industry.
The IPO consists of 54.66 million new shares and 25.31 million offer shares.
The public portion, comprising 10.12 million shares, saw 24,237 applications totaling 2.49 billion shares. The Bumiputera portion was oversubscribed by 208.57 times, while the non-Bumiputera portion saw an oversubscription of 282.28 times.
RichTech will debut on the ACE Market of Bursa Malaysia Securities Berhad on 17 February 2025, with KAF Investment Bank Berhad as the Principal Adviser, Sponsor, Underwriter, and Placement Agent.

FedEx Speeds Up Deliveries

Kuala Lumpur, Feb 4: FedEx has enhanced its inbound shipping service for Johor, reducing delivery times by two hours for imports from Asia, Europe, and the U.S.
Shipments are now routed through the FedEx Gateway in Singapore before reaching the FedEx Senai Gateway, enabling direct customs clearance in Senai. Previously, packages traveled through Kuala Lumpur before heading to Johor.
The improved service benefits key industries, including manufacturing, retail, and e-commerce. FedEx remains committed to supporting Johor’s economic growth amid the region’s rising trade and investment potential.

Trash Right Expands in 2025

Kuala Lumpur, Feb 3: Mondelēz International wrapped up its 2024 Trash Right recycling program, engaging over 4,000 students from six Klang Valley schools and collecting nearly 14 metric tons of plastic for recycling. Over six months, students took part in competitions, workshops, and interactive learning sessions focused on sustainability.
The closing ceremony featured representatives from participating schools and strategic partners, alongside officials from the Selangor State Education Department and Petaling Utama District Education Office. The program, supported by PINTAR Foundation, Trash4Cash, and Lotus’s, repurposed collected plastics into eco-boards.
Mondelēz International now aims to double school participation in 2025, launching an expanded initiative to further promote sustainability among young leaders.

KGW Expands Global Reach

Kuala Lumpur, Feb 3: KGW Group Berhad (“KGW”) has entered a strategic collaboration with U.S.-based Accelerated Global Solutions Inc. (“AGS”) following AGS’s acquisition of a 15 per cent equity stake in KGW.
The partnership enhances KGW’s trans-Pacific logistics capabilities, integrating AGS’s air freight and customs expertise with SpeedX’s last-mile delivery network.
KGW, a leader in ocean freight, will leverage AGS’s global logistics network to optimise shipping solutions, improve transit times, and enhance operational efficiency.
SpeedX’s extensive last-mile coverage across the U.S. further strengthens the partnership, offering seamless end-to-end logistics for global shippers.

KJTS Acquires Malakoff Utilities

Kuala Lumpur, Feb 3: KJTS Group Berhad (“KJTS”) has announced the proposed acquisition of Malakoff Utilities Sdn Bhd (“MUSB”) for RM65.50 million to expand its energy-efficient cooling solutions and strengthen its market presence.
MUSB operates a large-scale cooling system supplying chilled water for air-conditioning to 10 buildings in KL Sentral.
The acquisition, funded through IPO proceeds and internal resources, will boost KJTS’s revenue and operational scale while enhancing system efficiencies and reducing energy consumption.
This strategic move aligns with Malaysia’s energy transition agenda and positions KJTS for further expansion into high-demand urban hubs.