KUALA LUMPUR (May 31): Vitrox Corp Bhd (VCB) said its unit is buying land worth RM48.33 million in Penang to execute its 10-year expansion master plan, which will be fully completed by 2030.
According to a filing with Bursa Malaysia, its wholly-owned subsidiary Vitrox Technologies Sdn Bhd (VTSB) had entered into a sale and purchase agreement today with Penang Development Corporation.
The land at present vested in the State Authority of Penang measures 21.04 acres and is marked as Plots 323b and 323c in Batu Kawan Industrial Park, Seberang Perai Selatan.
“With the acquisition, VCB Group envisages that it will further strengthen its technology, product research and development, global business expansion, worldwide service and support, supply chain development, smart and lean manufacturing, and talent attraction, training and growth,” said the group.
Thursday, 27 May 2021 05:15 PM MYT
KUALA LUMPUR, May 27 Switzerland-based innovative technology company, Comet Group has been impressed with the ease and speed in implementing its Malaysian project in Penang.
The setting up of a new manufacturing site at the Batu Kawan Industrial Park was approved by the Malaysian Investment Development Authority (Mida) last year for the production of integrated radio frequency (RF) power modules for front-end semiconductor machinery.
Comet vice-president global operations Stephan Runge said despite the challenges of Covid-19, restricted economic activities and movement, the manufacturing site is expected to strengthen the group’s presence in Asia.
“I have been part of similar projects before, but I have never seen a team working so energetically and with such motivation to set up a new manufacturing site in record time,” Runge said.
KUALA LUMPUR (March 3): Based on corporate announcements and news flow today, companies in focus on Thursday (March 4) may include: MyEG Services Bhd, Genting Malaysia Bhd, Vivocom Intl Holdings Bhd, MISC Bhd, Jaycorp Bhd, Nexgram Holdings Bhd, Datasonic Group Bhd, Greatech Technology Bhd, Yinson Holdings Bhd and Minetech Resources Bhd.
MyEG Services Bhd said net profit rose 6.74% to RM75.51 million in the fourth quarter ended Dec 31, 2021, from RM70.74 in the preceding quarter, boosted by revenue from Covid-19 health screenings, and online motorcycle insurance and road tax renewal service. Quarterly revenue increased 10.13% to RM149.89 million, from RM136.10 million previously, as the group witnessed increased revenue contribution from its screening and accommodation arrangement service for inbound travellers. MyEG declared a final dividend of 1.7 sen per share.
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Industrial automation solutions provider Greatech Technology Bhd today reported a fourth quarter net profit of RM31.83 million in the three months ended Dec 31, 2020 (4QFY20), about 1.8 times the RM18 million the group reported in the corresponding quarter a year ago.