Tag: IKON

Pharmaniaga Logistic Sdn Bhd (PLSB), a subsidiary of Pharmaniaga Bhd, has inked a seven-year concession agreement with the Ministry of Health (MOH) for medical supply logistics services, effective from July 1, 2023. Under the agreement, PLSB is granted exclusive rights to oversee the procurement, storage, supply, and delivery of medical products to public sector customers. Additionally, PLSB has the authority to offer Pharmacy Information System services and is empowered to either construct or acquire four new warehouses dedicated to medical product storage. While the specific contract value remains confidential, this deal marks a significant development for Pharmaniaga, which has held a similar agreement since 1994 with extensions. Currently designated as a Practice Note ...

Penang has recorded an increase in the supply of affordable houses (RMM) by 154,685 units or 70.31% at various stages from 2008 to December 31 last year. State Housing and Environment Committee chairman Datuk Seri S. Sundarajoo said from the total, 50,700 units of RMM have been completed followed by 20,249 units under construction while 83,736 units are still at planning or approval stage. “The RMM segment has strong demand and I urged all developers to continue actively supply RMM and the state government haS also extended Home Ownership Campaign 3.0 Plus (HOC 3.0 Plus) starting January 1 to December 31 this year. “The policy which was implemented since 2020 is aimed at stimulating the property sector and at the same time assist the people to own houses in Penang,” he told a...

In a bid to fortify market competitiveness and deter the formation of cartels, Malaysia is considering the introduction of a merger control law, with hopes to table it in Parliament by June, according to a recent report by The Star. Iskandar Ismail, Chief Executive of the Malaysia Competition Commission (MyCC), revealed in an interview that Malaysia is the only country in Southeast Asia lacking a merger control law. The proposed legislation, about 80% complete, is expected to undergo final adjustments for presentation in the Dewan Rakyat. Under this prospective law, companies planning mergers would be required to seek approval from MyCC. Iskandar highlighted that the goal is to analyze and ensure that mergers do not lead to reduced competition in the market, stemming from the fo...

In a resolute move, Lembaga Tabung Angkatan Tentera (LTAT) has declared a non-negotiable deadline of January 5, 2024, for its privatisation bid for Boustead Plantations Bhd (BPlant), offering RM1.55 per share. LTAT, having secured over 90% of BPlant's shares, emphasized that there will be no extensions beyond the specified closing date. LTAT's significant acquisition, amounting to a 92.2% stake, equivalent to 2.07 billion shares, was disclosed in BPlant's latest bourse filing on January 3. With this majority ownership, Bursa Securities is expected to cease trading within five days of the stipulated closing date, which may pose challenges for holders of unlisted shares. This development follows LTAT's determined stance amid a prior unsuccessful RM1.15 billion takeover attempt by ...