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 Feb 17 till the end of the week.
This article updates throughout the week.

Marshall Islands Seawall Begins

Sydney, Feb 17: Site works have commenced on a major coastal protection project in the Republic of the Marshall Islands (RMI), with Australian companies Royal HaskoningDHV and Hall Contracting leading the effort. The multi-million-dollar project, funded by the World Bank and Green Climate Fund, will see the construction of a 1.81km rock revetment seawall on Ebeye atoll to protect against rising sea levels and severe weather.
The project, expected to be completed in 2026, will use 65,000 tonnes of armour rock and employ over 30 Marshallese workers. Early works include constructing an unloading facility using recycled beachfront concrete to reduce pollution and costs.
The first shipment of 40,000 tonnes of rock will arrive in March, with seawall construction beginning later that month.

SG Holdings Expands Globally

Singapore, Feb 17: SG Holdings has acquired Morrison Express to strengthen its global supply chain and logistics services. The acquisition enhances SG Holdings’ presence in Asia and bolsters its capabilities in semiconductor and high-tech logistics.
By combining Morrison Express’ air freight expertise with EFL Global’s ocean freight strengths, the deal creates a complementary partnership with minimal overlap.
The merger expands network coverage, improves operational efficiencies, and provides customers with end-to-end supply chain solutions across air, ocean, rail, and road freight.
The integration positions the company to lead in specialized logistics and adapt to evolving industry trends.

RichTech Shares Surge

Kuala Lumpur, Feb 17: RichTech Digital Berhad debuted on the ACE Market of Bursa Malaysia Securities Berhad at RM0.75 per share, marking a 200 per cent premium over its IPO price of RM0.25.
The company, listed under the stock name “RTECH” and stock code “0342,” raised RM13.67 million through its IPO.
Funds will be allocated to marketing, office acquisition, working capital, and listing expenses. Established in 2010, RichTech provides electronic reload and bill payment services via its proprietary SRS platform, serving over 4 million users in Malaysia. The listing positions RichTech for expansion in the fast-growing digital payment sector.

Chemlite IPO Approved

Kuala Lumpur, Feb 17: Chemlite Innovation Berhad has received Bursa Malaysia Securities Berhad’s approval for its ACE Market listing and signed an underwriting agreement with UOB Kay Hian Securities.
Founded in 2007, the Penang-based company specializes in surface finishing treatment services for semiconductors, electrical, electronics, and machinery sectors.
The IPO includes 120 million new shares and 60 million existing shares, with funds allocated for facility expansion, automation, R&D, and working capital.
Chemlite is also introducing cleanroom cleaning and packaging services by Q3 2025 and constructing a new facility expected to be completed by Q4 2026.

Systech, PKB AI Deal

Kuala Lumpur, Feb 18: Systech Bhd has signed a Memorandum of Collaboration with Permodalan Kedah Berhad (PKB) and Tujuh Warisan Sdn Bhd (TWSB) to explore the development of AI-powered data centres, technology parks, and AI solutions in Kedah.
The initiative aims to position Kedah as a digital transformation hub, attracting global investors and fostering AI-driven economic growth.
The collaboration will focus on AI infrastructure, high-performance computing, cloud computing, and cybersecurity solutions. A twelve-month negotiation period will finalise the framework before a definitive agreement is signed.

Sunzen Sells Loss-Making Units

Petaling Jaya, Feb 18: Sunzen Group Berhad has signed a Sale and Purchase of Shares Agreement with Pure Nutritional Products Sdn. Bhd. to dispose of its wholly-owned subsidiaries, Sunzen Corporation Sdn. Bhd. and Sunzen Lifesciences Sdn. Bhd., for RM17.3 million.
The divestment, aimed at streamlining operations, follows a combined loss of RM4.1 million reported by the subsidiaries for the financial period ended 30 June 2024.
Sunzen expects a one-off disposal gain of RM2.25 million, which will strengthen its financial position and support expansion in health products, medical devices, and loan financing.

M & A, CEFO Partner

Kuala Lumpur, Feb 18: M & A Value Partners Asset Management Malaysia Sdn. Bhd. and Century Eagle Family Office Sdn. Bhd. have signed a Memorandum of Understanding to market the Legacy Global Opportunities Fund (LGOF).
The fund offers sophisticated investors access to diversified global investments, targeting an 8 per cent annual return. It builds on the success of M & A Value Partners’ IPO Equity Fund, Malaysia’s first wholesale IPO-focused fund.
LGOF aims to provide income and capital appreciation through a disciplined investment approach across multiple asset classes and markets. The fund is now open for investment.

Media Republic Lands Clients

Sydney, Feb 19: Media Republic has secured media services accounts for Bondi Sands, The Lume, and Macpherson Kelley Lawyers, marking a strong start to the year.
The agency will provide media planning, buying, and analytics to drive brand growth across FMCG, the arts, and commercial law. These new partnerships expand Media Republic’s portfolio, which already includes KAO brands like John Frieda, Biore, and JERGENS.

Aussie Workers Eye Exit

Sydney, Feb 19: New research from HiBob reveals 43 per cent of Australian workers are ready to leave their jobs once the economy improves, with 74 per cent staying put mainly due to economic uncertainty rather than job satisfaction.
The study, based on nearly 1,000 knowledge workers, highlights a disconnect between employee expectations and workplace realities. Many feel undervalued, lack clear career progression, and are unwilling to sacrifice work-life balance for promotions.
With over 85 per cent already working unpaid overtime, nearly half (44 per cent) refuse to make further personal sacrifices, while 54 per cent would delay career growth for better balance. Businesses risk losing talent unless they address these concerns.

Captain America Tops Box Office

Sydney, Feb 19: Captain America: Brave New World dominated the Australian box office over Valentine’s weekend, earning $5.31M and becoming the highest-grossing movie debut of the year. Bridget Jones: Mad About The Boy secured second place with $4.44M, followed by Chinese animated film Ne Zha 2 with $2.35M. Horror film Heart Eyes landed in fourth with $764K, while A Complete Unknown rounded out the top five with $537K.
The Australian box office surged 115 per cent from last weekend, reaching $17.25M.
This week’s new releases include Pamela Anderson’s The Last Showgirl, Stephen King’s horror The Monkey, and the historical epic Legends of the Condor Heroes: The Gallants. HOYTS is also offering limited-edition Captain America collectables, including a collapsible shield popcorn tub and LED helmet popcorn tin.

Sunlogy Debuts on ACE

Kuala Lumpur, Feb 20: ES Sunlogy Berhad (“SUNLOGY”) made its debut on the ACE Market of Bursa Malaysia Securities Berhad, opening at RM0.305 per share, a 1.67 per cent premium over its IPO price of RM0.30.
The company, a key player in mechanical and electrical (M&E) engineering and renewable energy, raised RM42 million from its IPO.
Funds will be used for the Selarong LSSPV Plant (RM14.1 million), debt repayment (RM14 million), working capital (RM9.2 million), an ERP system (RM0.7 million), and IPO expenses (RM4 million).
SUNLOGY aims to expand its renewable energy footprint, enhance engineering capabilities, and contribute to Malaysia’s clean energy goals.

Betamek’s Q3 Revenue Rises

Kuala Lumpur, Feb 20: Betamek Berhad (“Betamek”) recorded a 28.3 per cent revenue growth in Q3 FY2025 compared to the previous quarter, reaching RM72.26 million. The increase was driven by higher sales from Perodua and contributions from Sanshin (Malaysia) Sdn. Bhd. (“SMSB”).
Year-on-year, revenue rose 22.0 per cent from RM59.22 million in Q3 FY2024, while profit after tax stood at RM4.73 million. For the nine-month period ended 31 December 2024, revenue reached RM178.55 million, reflecting a 7.6 per cent increase from the previous year.
Following the strong performance, Betamek declared a third interim single-tier dividend of 1.0 sen per ordinary share, payable on 19 March 2025. As of market close, its share price stood at 43 sen, with a market capitalisation of RM193.5 million.

Cropmate’s FY2024 Growth

Kuala Lumpur, Feb 20: Kuala Lumpur Cropmate Berhad (“CRPMATE”) reported RM160.7 million in revenue for FY2024, a 6.0 per cent increase from RM151.5 million in FY2023. Profit before tax rose 19.9 per cent to RM16.0 million.
For Q4 FY2024, the company recorded RM36.1 million in revenue and RM3.1 million in profit before tax. Strong demand from oil palm plantations and durian orchards drove growth, with local sales contributing 98.5 per cent of total revenue.
Cropmate’s Board has proposed a final dividend of 0.5 sen per share, pending shareholder approval. As of market close, its share price stood at RM0.19, with a market capitalisation of RM140.2 million.

MN Holdings’ Profit Surges

Kuala Lumpur, Feb 20: MN Holdings Berhad (“MN Holdings”) reported a record profit after tax (PAT) of RM12.7 million for Q2 FY2025, a 217 per cent increase from RM4.0 million in the same period last year.
Revenue for the quarter rose 68 per cent to RM125.5 million, driven by a 128 per cent surge in the underground utilities engineering segment and a 34 per cent growth in the substation engineering segment. Profit before tax (PBT) jumped 204 per cent to RM17.3 million.
For 1H FY2025, MN Holdings’ revenue climbed 76 per cent to RM228.6 million, while PAT rose 140 per cent to RM19.7 million. The company’s order book stood at RM665.3 million, ensuring strong earnings visibility for the next two to three years.

Seni Jaya Expands Reach

Kuala Lumpur, Feb 20: Seni Jaya Corporation Berhad (“Seni Jaya”) has signed Heads of Agreements to acquire Unilink Outdoor Sdn. Bhd. (“Unilink”) and Vision OOH Sdn. Bhd. (“Vision”).
The acquisitions aim to strengthen the company’s Out-of-Home (OOH) advertising footprint and accelerate its digital transformation.
Seni Jaya plans to acquire 100 per cent equity in both firms, with Unilink’s purchase involving cash and new shares, while Vision’s will be settled fully through share issuance.
The move is expected to expand media assets, enhance operational efficiencies, and increase access to premium advertising spaces.
The acquisitions remain subject to due diligence, regulatory approvals, and shareholder consent.
As of market close, Seni Jaya’s share price stood at RM0.33, with a market capitalisation of RM70.50 million.

BA Revamps Seattle Lounge

London, Feb 21: British Airways has reopened its refurbished lounge at Seattle Tacoma International Airport as part of its global lounge refresh program.
The redesign incorporates Pacific Northwest influences with British elegance, featuring a new full-service bar, upgraded dining options, work-friendly focus pods, and artwork by local artists.
The airline has refreshed lounges in Singapore, Lagos, Washington, and London Gatwick, with upcoming transformations planned for Dubai, Miami, Boston, and Glasgow.
Heathrow’s lounges will undergo a full redevelopment starting in 2026.

MSB Global’s ACE Listing

Kuala Lumpur, Feb 21: MSB Global Group Berhad has received approval from Bursa Malaysia Securities Berhad to list on the ACE Market.
The IPO involves issuing 133 million new shares, representing 21.8 per cent of the Group’s enlarged issued share capital of 610 million shares.
The offering includes allocations for the Malaysian public, eligible employees, and private placements for Bumiputera and selected investors.
MSB Global is a leading distributor of GSP-branded automotive parts and has expanded into automotive lubricants through its FK Fukuoka and ZR-Zuric brands.
The Group is also venturing into in-house branded EV chargers and establishing its own lubricant blending plant to enhance quality control and market competitiveness. M & A Securities Sdn Bhd is the Principal Adviser for the IPO.