ITMAX SECURES SECOND SMART PARKING CONTRACT IN SELANGOR
ITMAX System Berhad’s unit Selmax Sdn Bhd has been appointed by Shah Alam City Council to operate the Selangor Intelligent Parking (SIP) system for 10 years, with a 5-year extension option, under a 50:50 revenue-sharing model. CEO William Tan Wei Lun said the contract reinforces ITMAX’s role in modernising urban mobility through AI-powered solutions that enhance parking compliance, efficiency, and public safety.
PHARMANIAGA COMPLETES REGULARISATION PLAN, SETS COURSE TO EXIT PN17 BY Q1 2026
Pharmaniaga Berhad has completed its Regularisation Plan with the successful RM520 million Capital Reduction, paving the way to exit PN17 by Q1 2026.
The Group had earlier raised RM223.7 million via Rights Issue and Private Placement, with proceeds to reduce debt, boost expansion, and strengthen financial resilience.
Yinson Production acquires FPSO Atlanta project loan
Yinson Production has completed the buy-out of the FPSO Atlanta project loan from Brava Energia S.A., paying USD 255.5 million plus USD 1.9 million in interest for a loan with USD 408.8 million outstanding.
The deal was funded with internal cash, with future debt financing planned. FPSO Atlanta, acquired in 2023, is under a 15-year firm contract with a remaining value of approximately USD 2 billion.
ITMAX EXPANDS ITS PRESENCE INTO SELANGOR STATE
ITMAX System Berhad, through Selmax Sdn Bhd, has secured a 10-year deal to operate Selangor Intelligent Parking for MBSJ, with a 50% revenue share. The project marks ITMAX’s entry into Selangor, advancing the state’s Smart City agenda with AI-powered parking solutions.
AXIS-REIT ACQUIRES WAREHOUSE FACILITY IN KLANG FOR RM80.0 MILLION
Axis-REIT is acquiring a fully leased warehouse in Telok Gong, Klang for RM80 million, a move expected to boost recurring income and strengthen earnings by end-2026.
DATO’ MOHD ZAKHIR SIDDIQY BIN SIDEK RESIGNS AS NON-INDEPENDENT NON-EXECUTIVE CHAIRMAN OF HSS ENGINEERS BERHAD
HSS Engineers Berhad (“HEB Group”) announced the resignation of Dato’ Mohd Zakhir Siddiqy Bin Sidek as Non-Independent Non-Executive Chairman effective 31 July 2025. He will be succeeded by Dato’ Sri Ir. Hj. Ismail Bin Md. Salleh as Acting Chairman from 1 August 2025. The Board thanked Dato’ Zakhir for his decade of leadership and contributions to the Group’s growth.
ITMAX SECURES RM145 MILLION CONTRACT FROM MBJB
ITMAX System Berhad (“ITMAX”) has secured a RM145.0 million contract from Johor Baru City Council to deploy and maintain smart traffic lights across the city for 240 months. CEO William Tan Wei Lun said the award strengthens ITMAX’s role in Johor’s smart city initiatives while enhancing traffic flow and supporting ESG goals.
PHARMANIAGA COMPLETES RIGHTS ISSUE AND PRIVATE PLACEMENT EXERCISES, FIRM ON TRACK TO EXIT PN17
Pharmaniaga Berhad has completed its Rights Issue and Private Placement, raising RM223.7 million and recording a 26.14% oversubscription, signalling strong investor confidence. With major shareholders LTAT and Boustead Holdings retaining 43.9% equity, the Group is now focused on completing its Capital Reduction by mid-August and advancing growth in biopharma and logistics as it targets PN17 exit by early 2026.
LBS BINA SECURES DEVELOPMENT RIGHTS FOR 192.32 ACRES IN KWASA DAMANSARA
Kwasa Land and LBS Bina have signed a RM8.3 billion Development Rights Agreement to develop 192 acres in PJ West, Kwasa Damansara. The 14-year project will feature nearly 3,000 homes, integrated amenities, and green spaces, marking a key step in shaping a sustainable, transit-oriented township.
YINSON PRODUCTION AND PTSC ADVANCE VIETNAM’S OFFSHORE GAS AMBITIONS WITH BLOCK B FSO PROJECT
Yinson Production, through joint venture PTSC SEA, has signed a lease and operate contract with PQPOC for a newbuild FSO unit to support Vietnam’s Block B gas project. Valued up to USD 600 million, the 14+9-year contract marks a key step in advancing Vietnam’s energy infrastructure. First condensate is targeted for Q3 2027.
