News

OSK Holdings Bhd’s indirect wholly owned subsidiary, OSK RF Sdn Bhd, has been granted a moneylending licence by the Ministry of Housing and Local Government.

The group said the licence, dated June 12, 2026, is valid for two years from June 11, 2026 and is renewable upon application to the ministry.

Issued under the Moneylenders Act 1951 and the Moneylenders (Control and Licensing) Regulations 2003, the approval allows OSK RF to carry out moneylending activities and provide loans in accordance with the law. –TMR

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KERJAYA Prospek Group Bhd has secured a RM529.3 million contract through its unit Kerjaya Prospek (M) Sdn Bhd from BRDB Developments Sdn Bhd for a luxury residential project in Taman Duta, Bukit Tunku.

The project marks its first collaboration with BRDB, a premium property developer, and involves the construction of eight blocks of villa residences comprising 146 units, alongside two blocks of car parks with two-level basement facilities, common amenities and a clubhouse.

Construction is scheduled to begin on June 15, 2026 and is expected to be completed within 33 months.

Kerjaya Prospek said the win reinforces its position as a preferred contractor for high-end developments and further expands its client base.

The group’s CEO Tee Eng Tiong said the award reflects its track record in delivering quality residential projects.

With this latest contract, Kerjaya Prospek’s year-to-date wins rise to about RM1.6 billion, while its outstanding order book stands at approximately RM4.5 billion. –TMR

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TAGHILL Holdings Bhd has clinched a RM133 million contract through its unit Taghill Projects Sdn Bhd to undertake main building and infrastructure works for D’Evia @ Kwasa Damansara (Package 2) in Shah Alam, Selangor.

The contract was awarded by Exsim MX4 Sdn Bhd and covers the construction of a 32-storey serviced apartment block with a mezzanine and basement level, comprising 440 units alongside ancillary facilities.

According to a Bursa Malaysia filing, the project is scheduled to commence on June 16, 2026, subject to architect’s confirmation, and is expected to be completed within 28 months from the start date. –TMR

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TANCO Holdings Bhd has moved to reassure stakeholders that there are no undisclosed corporate developments behind recent share price volatility, following a query from Bursa Malaysia Securities Bhd on unusual market activity (UMA).

In a statement today, the group said it had responded to the UMA query and, after checks with its board and major shareholders, “confirms it is unaware of any undisclosed corporate developments that may account for the recent trading patterns.”

Tanco added that it does not speculate on share price movements, but noted that the recent “rapid and unprecedented share price fall appears odd”, adding that its fundamentals remain intact.

“The recent market volatility does not impact the Group’s fundamental business operations, contractual obligations, or strategic direction,” it said.

The group stressed that all announced projects remain unaffected, including its Smart AI Container Port initiative and the Port Dickson Free Zone in Negeri Sembilan, which continue to progress through regulatory, technical, financing and commercial milestones.

It also assured property purchasers that “there are no cancellations or suspensions of any development projects arising from the current market trading activity.”

On its infrastructure pipeline, Tanco said the Smart AI Container Port remains a long-term private-led project progressing through technical and regulatory stages, while the Port Dickson Free Zone is intended to support Negeri Sembilan’s broader logistics and industrial development agenda.

Separately, it clarified that its memorandum of understanding with China Mobile International Limited for a proposed 50MW data centre in Port Dickson remains exploratory.

As previously disclosed, it said the MoU “is not expected to carry any immediate material financial impact on the Group.”

The company’s statement came as its shares extended their steep decline today, falling as much as 40% or eight sen to 12 sen, its lowest since January 2024, before closing at 13 sen.

More than 327 million shares changed hands.

The counter has now erased more than 90% of its market value in just days, following a meteoric rally of over 600% since 2024 that previously lifted its market capitalisation above RM10 billion at its peak on June 3.

The stock had ended flat last Friday after Bursa Malaysia froze its lower-limit price at 20 sen following four consecutive sessions of hitting the maximum allowed daily decline.

The mechanism effectively prevented further downward movement on that session.

Tanco has been under repeated regulatory scrutiny this year, having been queried twice by Bursa over unusual market activity.

It also drew attention on April 20 after a sharp price surge, which it attributed to news reports on its proposed container port project in Port Dickson while denying any undisclosed corporate developments.

On June 9, the group announced its entry into the data centre space via a memorandum of understanding with China Mobile International Limited to explore a 50MW facility in Port Dickson, a day after Bursa’s latest UMA query. –TMR

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VANTRIS Energy Bhd swung back into the black with a net profit of RM145.79 million for the first quarter of the financial year ended Jan 31, 2027 (FY27), compared with a net loss of RM477.95 million a year earlier, supported by lower project losses in Angola, an insurance claim, and reduced finance costs following restructuring.

However, revenue declined to RM645.21 million from RM801.37 million, mainly due to weaker contributions from its engineering and construction (E&C) segment as the group shifts towards lower-risk, service-oriented contracts across Southeast Asia and Australia.

Activity in the operations and maintenance segment also eased due to seasonal factors, partially offset by stronger drilling performance on improved contract rates.

Vantris said its E&C segment remains resilient, backed by completed major projects and a RM2.3 billion order book alongside a healthy tender pipeline.

The group continues to focus on disciplined execution and risk-managed growth in core regional markets.

The company also reiterated its near-term goal of exiting PN17 status by delivering two consecutive quarters of profitability, noting it has already achieved profits in 4Q26 and 1Q27. –TMR

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BERJAYA Assets Bhd (BAssets), controlled by Tan Sri Datuk Seri Vincent Tan Chee Yioun, has disposed of minority stakes in Berjaya Corporation Bhd and Berjaya Property Bhd for a combined RM20 million in cash, in related-party transactions involving the tycoon.

Its wholly owned subsidiaries, Berjaya Bright Sdn Bhd and Berjaya Times Square Sdn Bhd, sold 59.79 million Berjaya Corporation shares (1.01%) for RM14.05 million and 23.80 million Berjaya Property shares (0.49%) for RM5.95 million, reducing its stakes in both companies.

Following the disposals, BAssets’ holdings fell to 1.39% in Berjaya Corporation and 0.27% in Berjaya Property.

The group said the sale prices were based on prevailing market levels and close to carrying values, with proceeds earmarked for working capital to fund ongoing development projects.

As the buyer, Tan was deemed a related party, prompting several directors with family or overlapping interests to abstain from deliberations and voting.

The board and audit committee said the transactions were fair, reasonable, and conducted on arm’s-length terms, and did not require shareholder approval due to their small scale. –TMR

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MAXIM Global Bhd’s unconditional mandatory takeover offer has closed with almost no response from minority shareholders, underscoring weak appetite for the 24 sen per share bid.

According to principal adviser UOB Kay Hian (M) Sdn Bhd, the joint offerors received valid acceptances for just 42,599 shares, or 0.01% of the company’s issued share capital, with a further 550 shares pending verification.

The offerors, executive chairman Tan Sri Datuk Seri Gan Seong Liam, his sons Gan Kuok Chyuan and Gan Kuok Wei, and Global Showcase Sdn Bhd, collectively increased their stake marginally to 70.07% from 70.06% after the offer period.

The mandatory general offer was triggered after Gan crossed the 33% threshold in May 2026 following a RM27.42 million stake purchase from company insiders, which lifted his holding to 37.33%.

Minority shareholders largely stayed away after independent adviser MainStreet Advisers recommended rejection, calling the offer “not fair and not reasonable”.

It cited a 73.03% discount to the group’s estimated RNAV of 89 sen per share and an 11.11% discount to the pre-announcement market price of 27 sen.

The adviser also noted the offer lacked a compelling exit rationale, given the controlling shareholders’ stated intention to maintain Maxim Global’s listing status. –TMR

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MYCRON Steel Bhd’s wholly owned unit Melewar Steel Tube Sdn Bhd (MST) is acquiring an industrial property in Seksyen 15, Shah Alam from parent Melewar Industrial Group Bhd (MIGB) for RM30 million in cash, in a related-party transaction aimed at aligning ownership with operational use.

The leasehold property currently houses Mycron’s manufacturing facility and corporate office and is presently leased from MIGB at RM175,000 a month.

The group said owning the asset outright would enhance maintenance planning, capital expenditure control and operational autonomy, while eliminating annual rental costs of about RM2.10 million and removing exposure to future rent escalation or lease renewal uncertainty.

For MIGB, the disposal is expected to unlock value from a mature asset while retaining exposure to the property within the broader group, given its 74.13% stake in Mycron.

Proceeds are intended for working capital and future investment opportunities.

The purchase price is slightly below the property’s RM30.5 million valuation as at June 5, according to PA International Property Consultants.

Of the RM30 million consideration, RM24 million will be funded via bank borrowings, while the remaining RM6 million will be settled over 64 months under a deferred payment arrangement guaranteed by Mycron, helping to optimise funding costs and reduce reliance on upfront debt.

The transaction, deemed a related-party deal due to MIGB’s controlling stake, is subject to approval from non-interested shareholders as well as regulatory and lender clearances. Completion is targeted for the fourth quarter of 2026. –TMR

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