Malaysia Daily Update

DKLS Industries Bhd’s subsidiary DKLS Energy Sdn Bhd (DESB) will have to wait longer to cash in on its hydro-power investment in China. In a filing with Bursa Malaysia on Wednesday, DKLS said no definitive deal had been struck to dispose off Yong Yu Hydro Electric Development Co Ltd, in which DESB owns a 30% interest. The memorandum of understanding between Yong Yu’s shareholders and Sichuan Nengtou Electric Power Development Co Ltd has lapsed, as the parties failed to sign a definitive share transfer agreement before the expiry date, March 31. (StarBiz)

Boustead Plantations Bhd will expand its landbank by another 20% within two to three years from the current 83,400 hectares, says vice chairman, Tan Sri Lodin Wok Kamaruddin. He said although the company received offers from countries like the Philippines and Papua New Guinea to establish plantations, Malaysia would remain its top choice due to the country's stable political situation, fertile land as well as predictable weather. (StarBiz)

SHL Consolidated Bhd will seek an extension of six months from Bursa Malaysia Securities to meet the public shareholding spread requirement. SHL said on Wednesday its public spread was 23.53% resulting in a shortfall of 1.47% from the minimum requirement of 25%. As at to-date, the company has not drawn up any plan to rectify the shortfall in the public spread “but will endeavour to formulate such a plan as soon as possible”. (StarBiz)

Mudajaya Group Bhd has appointed its chief operating officer James Wong as the new group managing director and chief executive officer. Mudajaya Group chairman Datuk YusliYusoff said Wong will succeed Anto Joseph with effect from Wednesday. “Anto postponed his decision to retire a year earlier at the request of the board to facilitate a smooth transition in

management,” he said, adding Anto has agreed to continue to serve as special adviser to the board. (StarBiz)

Pharmaniaga Bhd aims to strike a balance in local pharmaceutical business by reversing the current ratio of non-concession versus concession from 42:58 to 60:40 in the next 3-4years. Chairman Tan Sri Lodin Wok Kamaruddin said the company would continue to expand its manufacturing capabilities in a bid to reduce dependency on government concession. “We are currently at 42:58 ratio. We are optimistic that non-concession business will grow from 42% to the 60% level within three to four years,” Lodin told reporters after the company’s annual general meeting here. (Business Times)

Xinghe Holdings Bhd, has entered into a strategic partnership with Arab Supplier Fabrication And Retail Sdn Bhd (Asfar), to enable both companies to become the main edible oil supplier in Jordan, the Middle East, Africa, Europe and South East Asia. Xinghe is a manufacturer of edible oils in China and Malaysia while Asfar is a manufacturer and exporter of palm-related products. In a statement today, Xinghe said the total investment value for the joint venture may come up to RM90mn in total within the next five years. (Bernama)