Reservoir Link Energy Bhd, which has been selected as a solar power producer by the Energy Commission (EC) under the Corporate Green Power Programme, believes the appointment is just tip of the iceberg for its progression in the renewable energy space. Reservoir Link's unit Reservoir Link Renewables Sdn Bhd is part of the consortium with Sumitomo Corporation and Maqo Engineering Sdn Bhd which was selected by the EC. (NST)

Tenaga Nasional Berhad (TNB) has established the Green Lane Pathway, an exclusive pathway and strategic offering for Malaysia's data centre market to provide efficient and environmentally responsible solutions for data centre operators. The pathway is also to streamline the on- boarding process for data centres, expedite approvals and facilitate a smooth setup of data centre operations in Malaysia. (NST)

Maxis Bhd registered a net profit of RM330 million in the quarter ended June 30, 2023 from RM322 million in the previous corresponding quarter, bolstered by the discontinuation of the prosperity tax in 2023. Its revenue edged up to RM2.47 billion from RM2.42 billion previously. Maxis declared an interim dividend of four sen  for the quarter. In a filing with Bursa Malaysia, the company said its earnings before interest, tax, depreciation and amortisation (Ebitda) was one per lower at RM1 billion due to the higher amortisation costs from the spectrum awarded in 2022. (NST)

Glove manufacturer Hartalega Holdings Bhd has warned that the present headwinds in the glove will endure, with the ongoing market imbalance, increased competition from regional companies and elevated operational expenses weighing on profits. "Furthermore, the average selling price for rubber gloves remains very competitive amid minimal success with the incremental cost pass through, said its chief executive officer Kuan Mun Leong. (NST)

Packaging and industrial material company Iqzan Holding Bhd today announced that it has sold a majority interest in its unit, Zoomic Technology (M) Sdn Bhd, to Digital Miracles Sdn Bhd and Million Saint Consultancy Sdn Bhd for RM3.6 million, as settlement of monies owing to the companies. Digital Miracles will get a 17.13 per cent stake in Zoomic for RM1.2 million, while Million Saint will take a 34.26 per cent equity interest for RM2.4 million. Iqzan Holding did not disclose details of the monies owed to Digital Miracles and Million Saint. (NST)

Pertama Digital Bhd is seeking an extension of one year, until August 9, 2024, to submit its regularisation plan to the relevant regulatory authorities. In a Bursa filing on Tuesday, the company noted that the request was made on August 8, 2023 and further announcement will be made to Bursa Securities with regards to the development of the plan in due course. Pertama Digital triggered Paragraph 8.03A(2)(a)(bb) of the Main Market Listing Requirements last year following the disposal of its entire equity interest in its China-based textile arm, Be Top Group Ltd for RM70 million. (NST)

Sunview Group Bhd has secured a quota totalling 59.98 megawatts (MW) under the Corporate Green Power Programme (CGPP), an initiative by the Energy Commission (EC). In a filing with Bursa Malaysia, the renewable energy player said its subsidiary, Solarcity REIT Sdn Bhd, has been allocated an export capacity of 29.99MW, which is the maximum quantum assigned to a solar power producer. (TheStar)

Sarawak Energy Bhd, under the auspices of the Ministry of Utility and Telecommunication and the Ministry of Energy and Environmental Sustainability, will host its flagship event, the Sustainability and Renewable Energy Forum (SAREF 3.0). In a statement on Tuesday (Aug 8), Sarawak Energy said SAREF 3.0 will take place at the Borneo Convention Centre in Kuching, Sarawak, on Sept 6 and 7. (TheEdge)

Hengyuan Refining Company Bhd yesterday announced that the company has appointed Zulhazmi Mohamad as its acting chief executive officer (CEO) effective August 8, 2023. In a filing with Bursa Securities, the company said its former acting CEO, Li Bin, had relinquished all his duties and responsibilities with effect from 8 August 2023 due to health reasons. Prior to this appointment, Zulhazmi has been the chief government relations officer for the company since 2019. (NST)

Kenanga Research expects a gradual recovery in Dialog Group Bhd's earnings before interest, taxes, depreciation and amortisation (Ebitda) margins, as well as average midstream utilisation rates of 90 per cent. The firm said Dialog's margins for downstream contracts had stabilised over the previous two quarters, mainly due to the progressive completion of legacy contracts that did not price in higher costs from the current inflationary environment. (NST)

RHB investment Bank Research expects Sunway Construction Group Bhd (SCGB)'s second quarter 2023 (2Q23) core earnings to grow quarter-over-quarter to RM30-40 million, from RM26 million in 1Q23. The growth will be driven by the ramp-up in progress of projects that were in their early stages during 1Q23, it said. "SCGB's potential involvement in the Song Hau 2 power plant in Vietnam plus strong data centre demand in Malaysia may mitigate any downside risks from the local construction sector," said the research house in a note today. (NST)

Source: New Straits Times, The Edge Markets, The Star 09 August 2023

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