News in brief: April 18, 2022

SARAWAK CABLE BHD (SCB) has entered right into a memorandum of settlement (MoA) with Hercules Engineering (Sea) Sdn Bhdv for cooperating and joint venturing with one another to revitalise SCB wholly-owned subsidiary’s, Sarwaja Timur Sdn Bhd (ST), enterprise.

In a submitting with Bursa Malaysia as we speak, it stated the MoA can be to develop synergy between the SCB group and the Hercules group in order to carry ST to the subsequent stage of success for the mutual good thing about the SCB group, ST and the Hercules group.

It stated the MoA wouldn’t have any impact on the earnings per share, internet belongings per share, gearing, share capital and substantial shareholdings construction of the corporate for the monetary interval ending May 31, 2022.

However, it stated the MoA is predicted to contribute positively to the longer term earnings of the SCB group. 



DYNACIATE GROUP BHD’s wholly-owned subsidiary, Magnitude Resources Sdn Bhd (MRSB), has entered right into a sale and buy settlement (SPA) with Grand Century Construction Sdn Bhd (GCCSB) to amass a vacant freehold business land in Seremban Jaya, Negeri Sembilan, measuring 19,883 sq. metres, for RM13 million. 

In a submitting with Bursa Malaysia, it stated the proposed land acquisition is consequential and complementary to its plan in increasing its property portfolio by way of acquisitions of land and properties to cater for future growth actions into warehouses and hubs for logistic enterprise by capitalising on and constructing on the corporate’s present enterprise section, which is building.

It added that the expansion of the commercial building trade within the long-term is predicted to proceed to be pushed by the nation’s financial, e-commerce, logistics and manufacturing trade development.


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