Business

JATI Tinggi Group Bhd has secured a RM27.5 million contract via its wholly owned subsidiary Jati Tinggi Holding Sdn Bhd, in a joint venture with MFB Geotech Sdn Bhd, for dam safety enhancement works under Tenaga Nasional Bhd’s hydroelectric life extension programme.

In a Bursa Malaysia filing, the group said the letter of acceptance was issued by TNB Repair and Maintenance Sdn Bhd on July 2, 2026.

The project covers spillway, slope and saddle dam remediation works at the Temengor, Bersia and Kenering hydroelectric stations in Perak, aimed at improving structural integrity and long-term operational reliability.

The JV, structured on a 90:10 basis between Jati Tinggi Holding and MFB Geotech, will be jointly and severally liable for the project, which is expected to be completed within 407 days from commencement.

The group said the contract is expected to contribute positively to future earnings and will not affect share capital or shareholder structure. — TMR

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KUALA LUMPUR Kepong Bhd has been drawn into arbitration proceedings in Indonesia after its wholly owned subsidiary, PT Perindustrian Sawit Synergi (PT PSS), received notice of a tribunal formation over a gas supply contract dispute.

In a Bursa Malaysia filing today, KLK said the arbitration will be conducted under the Badan Arbitrase Nasional Indonesia (BANI), with hearings scheduled to begin on July 10, 2026.

The dispute was initiated by PT Pertagas Niaga (PT GN) and stems from the termination of a gas supply agreement with PT PSS.

PT GN is seeking about US$39 million (approximately RM158.7 million) in compensation, after deducting a bank guarantee, linked to alleged take-or-pay obligations for the remaining contract period.

It is also seeking a declaration that its drawdown of a US$2.78 million (about RM11.3 million) bank guarantee is valid.

In response, KLK said PT PSS will file a counterclaim alleging that PT GN breached the agreement by failing to provide continuous gas supply.

PT PSS is seeking about RM55 million in damages, along with a declaration that the bank guarantee drawdown is invalid and should be refunded.

KLK said PT PSS has appointed Indonesian law firm Dentons Hanafiah Ponggawa & Partners to represent it and pursue its counterclaim in the arbitration.

The group said its position is that the claims are without merit and confirmed it will vigorously defend the case.

KLK added that the arbitration is not expected to have a material impact on the group’s financial position or operations. — TMR

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HEXTAR Industries Bhd has secured and executed an RM138.42 million engineering, procurement and construction (EPC) contract through its 70%-owned subsidiary Hextar Mitai Sdn Bhd (HMSB) for an industrial development in Pulau Indah, Selangor.

In a Bursa Malaysia filing today, the group said HMSB entered into the contract on July 3, 2026, for the provision of EPC works covering structural, architectural finishes, landscaping, infrastructure, and mechanical and electrical installations for five industrial buildings.

The contract was awarded by a private company involved in the investment of non-residential properties.

The identity of the contract awarder was not disclosed due to confidentiality provisions.

Under the scope of works, HMSB will undertake full engineering, procurement and construction works for a large-scale industrial development spanning approximately 80,929 sq m of land with a total gross floor area of over 101,800 sq m.

The development comprises three production factories and warehouse buildings, two workers’ hostel buildings and ancillary facilities.

Works are scheduled to commence on July 7, 2026, with completion expected within 12 months, subject to issuance of the completion certificate by the contract awarder.

Hextar Industries said the contract is expected to contribute positively to future earnings and net assets per share upon commencement of works.

The group added that the contract will not have any impact on issued share capital or substantial shareholders’ shareholding structure, and is not subject to shareholder or regulatory approvals.

In a separate statement, its group MD Benny Ang said the contract marks another milestone for the group’s civil engineering division, reinforcing its technical capabilities and strengthening its order book and earnings visibility.

Meanwhile, its ED Alex Sham said the project is expected to contribute positively to earnings upon commencement of works, supported by rising demand for industrial infrastructure in the Klang Valley.

He added that the contract further strengthens the group’s EPC portfolio and positions it to pursue similar opportunities in the future. — TMR

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GAMUDA Bhd, PBA Holdings Bhd and Perbadanan Kemajuan Negeri Perak (PKNPk) have mutually extended the deadline for the execution of their proposed bulk water supply agreement (BWSA) to July 13, 2026, as negotiations on the Northern Perak Water Supply Scheme (NPWSS) continue.

In separate Bursa Malaysia filings, Gamuda and PBA said the extension was agreed to provide additional time to finalise the terms of the agreement, with all other provisions under the existing memorandum of understanding (MOU) remaining unchanged.

The extension follows a prior deadline of July 3, 2026, and marks the latest in a series of timeline adjustments as the parties work towards concluding the commercial structure for the long-discussed inter-state water transfer project.

The NPWSS framework involves the supply of treated water from excess raw water in northern Perak to Penang, addressing long-term demand requirements for the state.

Under the proposed structure, up to 300 million litres per day (MLD) of treated water is expected to be supplied to Penang, with delivery targeted from 2031.

The project entails the extraction and treatment of raw water in Perak, supported by infrastructure development and operations involving Gamuda and PKNPk, before supply is delivered across state boundaries to Penang’s operator, PBAPP.

The scheme has undergone prolonged negotiations over the commercial structure, including earlier differences on whether raw or treated water should be supplied, before converging on a framework involving treatment within Perak and bulk sale of treated water.

Gamuda said the latest extension is not expected to have any material impact on the implementation timeline of the project and that all other terms of the MOU remain in full force.

PBA similarly confirmed that the extension is solely for finalisation of the agreement terms, following earlier announcements on Nov 6, 2025 and May 15, 2026.

The NPWSS is seen as a key long-term infrastructure solution to diversify Penang’s water supply sources beyond Sungai Muda, while also integrating with development plans in northern Perak, including the Kerian Integrated Green Industrial Park (KIGIP). — TMR

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UEM Sunrise Bhd has entered into a strategic development rights agreement with Exsim KLCC Sdn Bhd for the development of a 1.6-acre freehold site at the junction of Jalan Ampang and Jalan P. Ramlee, adjacent to Kuala Lumpur City Centre (KLCC).

In a statement today, UEM Sunrise said the agreement grants Exsim KLCC the right to develop the site, while the group will receive a guaranteed entitlement of RM415 million.

In addition to the guaranteed payment, the structure also includes a profit-sharing mechanism, allowing UEM Sunrise to participate in the future performance of the development.

The group said the development rights agreement was selected following a comprehensive evaluation of options and a due diligence process, with the structure balancing value creation, risk allocation and long-term shareholder returns.

Its MD and CEO Shaharul Farez Hassan said the partnership reflects the group’s disciplined approach to portfolio optimisation and capital allocation.

He said the deal allows UEM Sunrise to monetise a strategic asset while leveraging EXSIM KLCC’s development expertise in the KLCC precinct.

UEM Sunrise added that proceeds and participation from the agreement will support its broader development pipeline across key growth corridors, including Mont’Kiara, Kiara Bay, Cheras, Petaling Jaya and Johor’s Iskandar Puteri.

The group is also advancing initiatives in Gerbang Nusajaya and Puteri Harbour, including industrial park development to capture opportunities linked to the Johor-Singapore Special Economic Zone (JS-SEZ).

UEM Sunrise said the partnership aligns with its strategy of disciplined execution and structured portfolio management as it positions for long-term growth in key economic corridors. — TMR

The post UEM Sunrise inks KLCC development deal with EXSIM, secures RM415m guaranteed entitlement appeared first on The Malaysian Reserve.

ELRIDGE Energy Holdings Bhd is expanding its production capacity by about 33% with the installation of four new palm kernel shell (PKS) biomass production lines at its Kuantan plant in Pahang.

In a statement today, the group said the expansion involves an investment of approximately RM13 million and is expected to be completed in the fourth quarter of its financial year ending 2026.

The new production lines will add a combined capacity of 480,000 metric tonnes per annum, or 120,000 tonnes per line, increasing total installed capacity from 1.44 million tonnes to 1.92 million tonnes per annum.

Elridge said the expansion is separate from the capacity growth plan disclosed in its prospectus dated Aug 6, 2024, and will be funded via internally generated funds and/or bank borrowings.

Its ED and CEO Oliver Yeo said the expansion reflects the group’s commitment to scaling production in line with growing opportunities in the biomass sector.

He said the additional capacity positions the group to better meet market demand and supports its long-term growth strategy and value creation for shareholders.

Elridge said the investment is underpinned by favourable industry fundamentals, citing research that projects Asia Pacific PKS market growth from US$308.6 million in 2024 to US$366.1 million in 2026, driven by a compound annual growth rate of 8.9%.

The group said the new production lines are expected to contribute positively to revenue and earnings from the financial year ending 2027, and will not have any material impact on its earnings, net assets, gearing or share capital for FY2026. — TMR

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TFP Solutions Bhd has entered the concert ticketing and event technology space after its wholly owned unit secured an exclusive ticketing services agreement with Pluotos Entertainment Sdn Bhd.

In a Bursa Malaysia filing today, TFP said its subsidiary Softfac Technology Sdn Bhd had signed a ticketing services and strategic collaboration agreement with Pluotos on July 2.

Under the deal, Softfac will serve as the exclusive concert ticketing management systems provider for Pluotos’ future ticketed commercial events, concerts, festivals and entertainment programmes.

The initial agreement runs for one year and will automatically renew for successive one-year terms unless terminated or either party issues at least 60 days’ notice of non-renewal.

As part of the arrangement, Softfac will provide cloud infrastructure to manage traffic surges during ticket launches, customised ticketing configurations, payment gateway integrations and on-site event access systems, including QR code verification and crowd entry management tools.

TFP said the collaboration aligns with its strategy to expand its technology solutions business by strengthening its presence in the digital ticketing and event technology segment.

“The agreement secures the group a recurring, exclusive revenue stream from Pluotos’ expanding pipeline of concert ticketed events,” it said, adding that the tie-up could also pave the way for a jointly owned ticketing platform and consumer database.

The group said the agreement is not expected to have any material impact on its earnings, net assets or gearing for the financial year ending Dec 31, 2026, but is expected to contribute positively to future earnings.

Pluotos is involved in concert entertainment, event management and corporate branding activities in Malaysia. — TMR

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TITIJAYA Land Bhd is expanding its footprint in Sabah with plans for a new commercial development in Likas, Kota Kinabalu, as the property developer looks to tap the state’s growth potential and diversify beyond the Klang Valley.

In a statement today, the group said the upcoming project forms part of a broader pipeline of launches in Sabah, where it has been building its presence through mixed-use, hospitality and student accommodation developments.

Its MD Datuk Lim Poh Yit said the group remains optimistic on Sabah’s long-term prospects following the response to its existing projects, including The Shore Kota Kinabalu and Citadines Waterfront Kota Kinabalu.

“Sabah continues to benefit from improving infrastructure, increasing tourist arrivals and growing business activities, creating strong demand for quality residential, commercial and hospitality developments,” he said.

Titijaya said it has also made progress on its purpose-built student accommodation project near Universiti Malaysia Sabah, aimed at addressing student housing shortages while catering to future demand from the university and the upcoming Hospital UMS.

The group added that Citadines Waterfront Kota Kinabalu contributed a full year of operations in the financial year ended Dec 31, 2025, supported by steady occupancy and improving margins. The 396-unit serviced residence is part of The Shore, a mixed-use commercial development in Kota Kinabalu city centre.

The expansion comes as Titijaya seeks to broaden its project portfolio outside the Klang Valley, where it has built a track record in urban lifestyle developments.

The developer said it has completed projects with a combined gross development value (GDV) of about RM5.4 billion across residential, commercial, SoHo, integrated and industrial segments. — TMR

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MESINIAGA Bhd has secured a RM39.99 million contract from Pharmaniaga Logistics Sdn Bhd to provide new centralised server infrastructure for the Pharmacy Information System (PhIS) Version 3.0.

In a Bursa Malaysia filing today, Mesiniaga said it accepted the award on July 2, with the contract valued at RM39,989,675.64, inclusive of sales and service tax (SST).

The contract is scheduled for completion by June 30, 2030, and does not carry an automatic renewal clause.

Mesiniaga said the project is expected to contribute positively to the group’s earnings and net assets from the financial year ending Dec 31, 2026, until its completion.

The company noted that the main risks associated with the contract relate to meeting service level commitments and project deadlines, adding that it has put in place the necessary measures to mitigate these risks.

The board said the award was secured in the ordinary course of business and is in the best interest of the company. — TMR

The post Mesiniaga bags RM40m Pharmaniaga contract for pharmacy system infrastructure appeared first on The Malaysian Reserve.

SOUTHERN Cable Group Bhd has secured a supplementary RM403.6 million contract from Tenaga Nasional Bhd (TNB), further strengthening its order pipeline tied to Malaysia’s power infrastructure expansion.

The contract, awarded to its wholly-owned subsidiary Southern Cable Sdn Bhd, covers the supply of underground power cables and conductors to TNB’s Distribution Network division.

It represents an add-on exercise under an existing agreement originally awarded in February 2025.

The latest order extends the supply arrangement for an additional one-year period from August 2026 to August 2027, lifting the group’s total outstanding orders to above RM1 billion and providing earnings visibility through 2027.

Its MD Tung Eng Hai said the supplementary award underscores sustained demand for power cables amid ongoing grid expansion and modernisation efforts.

“Securing this supplementary contract from TNB reflects sustained demand for power cables and validates our technical capabilities in meeting strict reliability standards required for the national grid,” he said.

He added that demand is being driven by Malaysia’s energy transition agenda, including renewable energy integration, data centre growth and industrial development.

Since 2025, Southern Cable said it has secured more than RM900 million worth of contracts from TNB, reinforcing its position as a key supplier for national grid projects.

The group also highlighted ongoing capacity expansion plans, including certification for higher-capacity underground transmission cables of up to 1,600 sq mm, as well as a planned 5,000 km increase in production capacity by end-2026 to meet rising demand. –TMR

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