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KUALA LUMPUR: AmBank Group has granted RM300 million in financing facilities to Uzma Engineering Sdn Bhd (UESB), a wholly owned subsidiary of Uzma Bhd, a leading energy and technology solutions provider. The financing supports key contracts awarded by Petronas Carigali Sdn Bhd (PCSB), the oil and gas exploration and production subsidiary of Petroliam Nasional Bhd (Petronas). These include the provision of hydraulic workover and plug and abandonment operations(Package A: 340K HWU Rig and Package B: 460K HWU Rig), awarded in May 2023. The financing also supports contract extension for the leasing, operation, and maintenance of the water injection facility for PCSB awarded in October 2022. “We are very pleased to be supporting Uzma, a key service provider to PCSB and Petronas in their climate change transition towards generating sustainable energy which strategically aligns with the National Energy Transition Roadmap. “This strategic collaboration is aimed at supporting essential operating expenditures for contracts that drive efficiency and innovation in our national oil and gas sector and align with our shared vision for a more sustainable future. “Responsible financing is pivotal in fostering sustainable operations across industries, and this initiative exemplifies our commitment to being at the forefront of environmental stewardship while supporting economic growth,” AmBank Group chief executive officer Jamie Ling said in a statement. Uzma stands at the forefront as a key beneficiary of Petronas Activity Outlook 2024-26 report. With anticipated increased upstream activities by Petronas, the outlook remains positive for upstream service providers like Uzma. Uzma has also positioned itself as a competitive solutions provider, leveraging ongoing energy transition efforts to drive sustainable growth. AmBank Group managing director of business banking Christopher Yap said in alignment with AmBank’s dedication to promoting sustainable practices, this financing arrangement with UESB is a testament to the bank’s proactive approach to supporting its clients through responsible banking practices. “By backing UESB’s endeavours to enhance operational efficiencies and reduce environmental impact within the oil and gas sector, we are not just investing in the future of business, but also in the future of our planet. “This initiative underscores our belief in the power of partnership and innovation to drive meaningful progress towards sustainability goals. “We are excited to play a pivotal role in facilitating these critical advancements, demonstrating our ongoing commitment to contributing positively to our community and the environment,” he said. Uzma group chief executive officer Datuk Kamarul Redzuan Muhamed said this financing agreement underscores AmBank’s confidence in Uzma’s capabilities and strategic position in the industry. “Dedicated to advancing the energy landscape, Uzma values AmBank Group’s unwavering commitment to supporting the energy sector. “With this financing in place, we are poised to deliver on our promises, driving sustainable solutions with low-carbon footprint and contributing to the nation’s energy security,” he said. This financing facility from AmBank Group reflects a shared commitment to driving growth and innovation in the energy sector. Uzma looks forward to leveraging this support to strengthen further its position as a leading solutions provider in the industry.

KUALA LUMPUR: IHH Healthcare Bhd subsidiary Pantai Holdings Sdn Bhd (PHSB) has completed its acquisition of the entity that owns Timberland Medical Centre and the earmarked vacant land in central Kuching for the construction of a 200-bed tertiary hospital for RM245 million on a cash-free debt-free basis. This acquisition allows PHSB to expand its range of quality healthcare offerings in East Malaysia. PHSB chief executive officer Jean-François Naa said as its patient numbers grow, the company recognise the need to enhance its capacity and reach to better serve them. “Timberland Medical Centre, with its 30-year legacy in Kuching and strong brand presence, is an ideal healthcare institution to fulfil this purpose. “With the acquisition of Timberland Medical Centre and expansion into Sarawak, we will be preparing for the future, while ensuring a quality healthcare experience for all our patients, here and now,” he said in a statement. Jean-François said that in the near future, PHSB intends to further scale up Timberland Medical Centre’s operations via a new 200-bed tertiary hospital to be constructed in central Kuching. This hospital will serve local needs and cater to the growing medical tourism market in Indonesia. “Our geographical proximity to Indonesia makes us an ideal healthcare destination, with direct and affordable flights available between our countries,” he said. Timberland Medical Centre currently offers a wide range of medical and surgical services including cardiology, nephrology, oncology, gastroenterology, general surgery, orthopaedic surgery, hepatology surgery, orthopaedic and urology. PHSN has been present in East Malaysia since 2015 with the establishment of Gleneagles Hospital Kota Kinabalu. It is one of the largest private healthcare providers in Malaysia, with a healthcare network of 11 Pantai Hospitals, four Gleneagles Hospitals, Prince Court Medical Centre and now, Timberland Medical Centre. Jean-François said this marks PHSB’s This is the company’s inaugural acquisition in Sarawak, and it is eager to harness the full potential of its healthcare network to further enhance its services and patient care here.

KUALA LUMPUR: Construction and property player Varia Bhd signed a memorandum of understanding (MoU) with Sungai Klang Link Sdn Bhd (SKL) for an elevated highway project. This venture represents a strategic partnership aimed at harnessing Varia’s extensive construction expertise in the design, construction, operation, and management of this pivotal infrastructure development in the Klang Valley. Varia managing director Datuk Benson Lau said this collaboration is a testament to the company’s commitment to enhancing Malaysia’s urban infrastructure and an opportunity to set new benchmarks in construction and design excellence. “By combining our rich expertise in innovative construction solutions with our dedication to sustainable development, we are poised to deliver a project that will significantly ease traffic flow, improve connectivity, and contribute to the economic growth of the Klang Valley. “We look forward to the positive changes this project will bring to the community and the environment,” he said in a statement. SKL, a special-purpose vehicle company, has been actively engaged since 2019 in securing a concession agreement from the government for the right to build, manage, own, and operate the Sungai Klang Link elevated highway. The highway, spanning approximately 52.5 kilometres along the Klang River, will integrate with existing highway networks through 7 interchanges, providing an essential alternative route for road users in the region. The project has garnered substantial support from various government departments and local authorities and is now at an advanced stage of securing final approval from the government. Varia, with its comprehensive portfolio of construction works and history of undertaking design and build projects, is uniquely positioned to contribute significantly to this venture. SKL managing director Datuk Mohd Nazri  Ismail, this partnership aligns with the company’s goal of improving the transportation network in the Klang Valley by offering an additional route to ease traffic congestion. “Varia’s experience in managing significant infrastructure projects gives us confidence in the successful execution of this elevated highway. “We anticipate this project will contribute positively to the urban infrastructure, supporting more efficient transportation options. “Our combined efforts aim to address the current challenges in urban mobility and serve as a practical addition to the region’s infrastructure,” he said. As of March 8, 2024, Varia’s share price was RM0.89, with a market capitalisation of RM371.1 million, while the company’s orderbook remained strong at RM1.1 billion.

KUALA LUMPUR: Unitrade Industries Bhd (UIB) has declared a first interim single-tier dividend of 0.44 sen per share for the financial year ending March 31, 2024 (FY24). This translates to a dividend payout of RM6.9 million. Managing director Nomis Sim Siang Leng said the dividend declared reflects the company’s commitment to shareholder value creation and serves as a token of appreciation for their continued confidence in UIB. “It also aligns with our dividend policy to distribute up to 30 per cent of our net profit while prioritising a balanced approach that ensures both shareholder rewards and sufficient capital for future growth initiatives,” he said in a statement. UIB reported an 11.2 per cent year-on-year (YoY) revenue growth of RM1.14 billion, driven by the wholesale and distribution segment. Net profit for the period stood at RM23.1 million. UIB maintains a consistent record of rewarding shareholders. The company distributed dividends of 0.82 sen per share and 0.30 sen per share for FY22 and FY23, respectively, a 30 per cent dividend payout for both financial years.