KUALA LUMPUR (Aug 20): Hubline Bhd and MISC Maritime Services Sdn Bhd (MMS) are exploring a potential collaboration in the port and terminal management and operations space, as well as related marine services segment in Sarawak.
In a filing, Hubline said it has today inked a memorandum of understanding (MoU) with MMS on the matter.
MMS is the port management and maritime services outfit that is 100%-owned by Petronas-linked MISC Bhd.
“Hubline is desirous to expand into the oil and gas (O&G) infrastructure development activities in Sarawak, to complement its existing business activities,” Hubline said.
“This includes the provision of port and terminal management and operations and related marine services.
“MMS and Hubline wishes to explore a potential collaboration in the port and terminal management and operations and related marine services segment in Sarawak,” it added.
According to Hubline’s annual report, the Sarawak-based outfit is principally involved in two business segments, namely barge logistics and flying academy and aviation logistics.
Shares of Hubline closed unchanged at 4 sen on Friday, valuing the shipping group at RM170.8 million.
HUBLINE BERHAD (“Hubline” or “the Company”) AWARD OF CONTRACT FROM SURUHANJAYA PILIHAN RAYA (“SPR”) 1. INTRODUCTION Hubline Berhad (“Hubline” or “the Company”) is pleased to announce that its subsidiary, Layang Layang Aerospace Sdn Bhd (“LLA”) has been awarded a contract to provide helicopter and fixed wing rental services for the use at the General Election (“GE”) of the 12th Sarawak State Assembly (DUN) by the Malaysian Election Commission, Suruhanjaya Pilihan Raya (“SPR”) for a total contract sum of Ringgit Malaysia Twenty Five Million Six Hundred Seventy Three Thousand Two Hundred (RM 25,673,200.00) inclusive of 6% SST. In preparation of the next GE, LLA had earlier been invited by SPR to bid for this tender contract and have now been informed of their success. However, due to the uncertainties of when the next GE can take place due to the current pandemic, this contract spans 2 years. 2. SCOPE OF SERVICES OF THE CONTRACT LLA is being contracted to provide helicopter and fixed wing rental services to the Malaysian Election Commission, Suruhanjaya Pilihan Raya (“SPR”) for use at GE of the 12th Sarawak State Assembly (DUN). LLA will be responsible to provide: a. Helicopter and fixed wing aircrafts inclusive of the aviation operations supplies and equipment; b. Aircraft and crew preparation; c. Implementation of flight schedules and operations. LLA will also be required to implement the Professional Training and Education for Growing Entrepreneurs (PROTEGE) program as set by the Government and approved by the PROTEGE Secretariat. 3. DURATION OF THE CONTRACT Due to the current pandemic, there are uncertainties of when the next GE can take place. Hence, this contract spans 2 years from 26 August 2021 to 25 August 2023. 4. FINANCIAL EFFECTS The contract announced herein will have no material effect on the issued share capital of the Company and is expected to contribute positively towards the earnings of Hubline Group for the financial year ending 30 September 2022 and/ or 30 September 2023 whichever period the GE is held. 5. RISK FACTORS The Company does not foresee any exceptional risk other than operational risk associated with the contract. 6. INTEREST OF DIRECTORS, SUBSTANTIAL AND/OR MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED None of the Directors, substantial and/or major shareholders of Hubline or any persons connected to them have any direct or indirect interest in the contract. 7. APPROVAL REQUIRED The Agreement is not subject to the approvals of shareholders of Hubline or any relevant authorities. 8. DIRECTORS STATEMENT The Board of Directors of the Company is of the opinion that the acceptance of the contract is in the best interest of the Company. This announcement is dated 6 September 2021.
PRIVATE PLACEMENT OF UP TO 10.0% OF THE TOTAL NUMBER OF ISSUED SHARES OF HUBLINE
No. of shares issued under this corporate proposal 19,932,031 Issue price per share ($$) Malaysian Ringgit (MYR) 0.0355 Latest issued share capital after the above corporate proposal in the following Units 4,289,965,177 Listing Date 09 Sep 2021
============================= Total issued shares = 4,289,965,177 WC = 944,837,534 if fully converted, total issued shares exceeded 5 BILLION shares
Changes in Director's Interest (Section 219 of CA 2016) HUBLINE BERHAD
Information Compiled By KLSE
Particulars of Director Name DATO RICHARD WEE LIANG HUAT @ RICHARD WEE LIANG CHIAT
1 03/01/2022 25,500,000 Disposed Deemed Interest Name of registered holder BNDM Incorporated Holdings Sdn. Bhd.
Consideration (if any) RM0.040 per share
Disposal of 25,500,000 Ordinary Shares in Hubline Berhad off market by BNDM Incorporated Holdings Sdn. Bhd. Deemed Interest by virtue of Dato Richard Wee Liang Huat @ Richard Wee Liang Chiat's shareholding in BNDM Incorporated Holdings Sdn. Bhd. pursuant to Section 8(4) of the Companies Act 2016.
Total no of securities after change Direct (units) 72,000 Direct (%) 0.002 Indirect/deemed interest (units) 1,160,900,549 Indirect/deemed interest (%) 27.061 Date of notice 03/01/2022
=================== Disposal of shares by BNDM related to director
Changes in Director's Interest (Section 219 of CA 2016) Particulars of Director Name DATO RICHARD WEE LIANG HUAT @ RICHARD WEE LIANG CHIAT
1 28/03/2022 16,600,000 Disposed Deemed Interest Name of registered holder BNDM Incorporated Holdings Sdn. Bhd. Consideration (if any) RM0.040 per share
Disposal of 16,600,000 Ordinary Shares in Hubline Berhad off market by BNDM Incorporated Holdings Sdn. Bhd. Deemed Interest by virtue of Dato Richard Wee Liang Huat @ Richard Wee Liang Chiat's shareholding in BNDM Incorporated Holdings Sdn. Bhd. pursuant to Section 8(4) of the Companies Act 2016.
Direct (units) 72,000 Direct (%) 0.002 Indirect/deemed interest (units) 1,110,200,549 Indirect/deemed interest (%) 25.879 Date of notice 28/03/2022
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