TM, Southern Score, TNB, Vitrox, PUC, Kinergy Advancement, Heineken Malaysia, Country Heights

KUALA LUMPUR (July 1): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

Telekom Malaysia Bhd (KL:TM) said it has been awarded a RM1.25 billion contract to undertake a new emergency call system, which will be a continuation of the existing Malaysia Emergency Response Services 999 (MERS999) system. TM, via its wholly-owned unit TM Technology Services Sdn Bhd, signed the concession agreement with the government, represented by the Ministry of Communications on Monday, to develop and operate the Next Generation Emergency Services 999 (NG999) for a period of 12 years, commencing from the effective date in 2024 — which will be determined by the government — until 2036. — TM awarded RM1.25b contract to undertake new emergency call system for 12 years

Southern Score Builders Bhd (KL:SSB8) has bagged a letter of award to serve as turnkey contractor for the proposed development of three residential apartment blocks, valued at RM315 million. Smart Advance Resources Sdn Bhd awarded the contract to the group's wholly-owned subsidiary, Southern Score Sdn Bhd (SARSB). The three residential apartment blocks will comprise a total 794 free-cost residential units, along with a facility floor, swimming pool, eight floors of podium car park, a guard house and a Tenaga Nasional Bhd 11kV main switching station. — Southern Score secures RM315 mil contract for residential apartment blocks

Tenaga Nasional Bhd (TNB) (KL:TENAGA) said the decision by the Ministry of Energy Transition and Water Transformation (Petra) to maintain electricity tariffs until December 31 this year is neutral on the utility company and will not have any effect on its business operations. Petra on June 29 had determined the continued implementation of the imbalance cost pass-through (ICPT) mechanism for the period of July 1 to Dec 31, 2024. TNB said the decision was made to address the additional generation costs due to the higher fuel prices used for the supply of electricity from Jan 1 to June 30, 2024. To date, the government has implemented 20 cycles of ICPT since the mechanism was introduced in 2015, noted TNB. — Tenaga sees no impact from unchanged electricity tariffs

ViTrox Corp Bhd (KL:VITROX) will begin construction of the first block of its planned five-block ViTrox Institute of Technology (VIT) on July 8 after it had appointed South Island Building Sdn Bhd (SIB) as the contractor for the project in a deal worth RM45.99 million. The proposed construction is expected to be completed within 18 months, which is by Jan 7, 2026. Vitrox said its wholly-owned subsidiary ViTrox Technologies Sdn Bhd had awarded the contract to SIB for the earthwork, piling and main building works for the construction of a five-storey training and industrial research centre in the Batu Kawan Industrial Park (BKIP), Penang. — ViTrox to begin construction of training and industrial research center after RM46 mil contract award to SIB

Digital payment solutions provider PUC Bhd (KL:PUC) said it has entered into a deal to sell some of its software and intellectual property (IP) rights for RM22 million, cash. The group's subsidiary Presto Technology Sdn Bhd is disposing of the software and IP — which includes patents, copyrights and trade secrets — to G Solution Tech Sdn Bhd. “The proposed disposal is in line with the business direction of PUC and its subsidiaries to streamline its operation in order to focus on business and ventures which are viable and profitable in the future and will not affect PUC Group’s existing operation,” it said. — PUC to dispose of software, IP rights for RM22 mil

Heineken Malaysia Bhd (KL:HEIM) has appointed Martijn Rene van Keulen as new managing director (MD), effective Monday. Van Kuelen, 48, was nominated by the brewery’s board on April 25 to succeed Roland Bala, 58, currently MD at Multi Bintang Indonesia — an Indonesia-based brewer that is also part of the Heineken group, according to its filing. Van Kuelen joined Heineken International in 2000 and has held various commercial positions. He was recently MD of Heineken Myanmar after nearly four years since taking the position in July 2020. — Heineken Malaysia appoints Martijn Rene van Keulen as new MD

Country Heights Holdings Bhd (KL:CHHB) said it is working closely with the Malaysian Department of Insolvency (MDI) to resolve the winding-up of its indirect wholly-owned subsidiary Mines Waterfront Business Park Sdn Bhd (MWBP) and return it to solvent status. In a statement, Country Heights said there were 23 separate Proofs of Debt (PoD) filed against MWBP, amounting to RM3.8 million in total, claimed by various creditors, inclusive of the official administration charges mandated by the official receiver (OR). To return MWBP to solvent status, the property developer said it is hoping that the OR will expedite the verification and admission (or rejection) of the submitted PoD from the unsecured creditors so it can promptly settle the valid outstanding debts. — Country Heights working to return Mines Waterfront Business Park to solvent status