Author name: exchangemsia_admin

Seni Jaya Corporation Bhd has seen the emergence of two new substantial shareholders following the completion of its acquisition of outdoor advertising company Vision OOH Sdn Bhd. Lawrence John Cannard was issued 43.55 million new shares in Seni Jaya, representing a 16.03% stake, while Chong Yan Moy received 14.52 million shares, or a 5.35% stake. The Vision OOH acquisition, first announced in February last year, was fully settled through the issuance of new shares at 31.6 sen each, valuing the deal at RM18.35 million. In a separate development, Seni Jaya said it has mutually agreed with vendors to extend the deadline for fulfilling conditions precedent for its proposed acquisition of Unilink Outdoor Sdn Bhd to June 19. The Unilink deal is valued at RM39.5 million, to be satisfied through RM11.85 million in cash and the remainder via share issuance at 31.6 sen per share. Unilink is owned by Seni Jaya’s major shareholder and executive director Ong Kah Hoe. Based on the company’s circular, Ong’s stake is expected to increase to 23.61% from 6.23% upon completion of the acquisitions and a private placement exercise. Following the corporate exercises, Cannard’s stake is expected to be diluted to 10.29%, while Chong’s holding is projected to fall to 3.43%. Meanwhile, Seni Jaya’s largest shareholder, Datin Lee Nai Yee, is expected to see her stake reduced to 6.05% from 11.98% after completion of the exercises. The company’s financial performance has continued to improve. For the six months ended Dec 31, 2025, Seni Jaya posted revenue of RM44.9 million, up 22% year-on-year from RM36.8 million, while profit before tax rose 18% to RM10.6 million. The stronger performance was driven by higher billboard occupancy rates, disciplined cost control and improved execution across its asset base. The group said it remains focused on strengthening its market position through portfolio expansion and integration. The planned acquisitions of Unilink Group, Vision OOH and Ganad Media are expected to expand its nationwide footprint, enhance its premium inventory and create operational synergies for long-term growth. Seni Jaya shares closed down 0.5 sen, or 0.9%, at 54.5 sen on Thursday, valuing the group at RM116.38 million. The stock has gained 75.8% over the past year.

Tanco Holdings Bhd has revised the structure of its proposed smart AI container port in Port Dickson, replacing an earlier long-term lease arrangement with a port development concession (PDC) model. The new structure formalises the project under a concession framework while maintaining the original payment terms and tenure of up to 98 years. In a Bursa Malaysia filing on Thursday, the property developer said its 79%-owned subsidiary Midports Holdings Sdn Bhd (MHSB) and 80%-owned unit MBINS Ventures Sdn Bhd (MVSB) have signed a supplemental heads of agreement with Menteri Besar Negeri Sembilan (Pemerbadanan) (MBINS), amending terms from the original agreement signed in November last year. The project involves developing a smart container port on about 180 acres of submerged land in Dickson Bay, Negeri Sembilan. The broader Midport development spans a 480-acre land bank owned by Tanco, with natural deepwater access of more than 21 metres, capable of accommodating some of the world’s largest container vessels. The proposed port is positioned as an AI-driven and automated logistics hub, featuring smart cargo handling systems, green port technologies, and supporting logistics and industrial activities. Under the original structure, MVSB was to lease the land to MHSB for 98 years at a base rental of RM5 million per month, with payments starting three years after the agreement date or upon completion and commencement of port operations, whichever is later. This has now been replaced with a PDC structure, under which MVSB grants MHSB concession rights over the land for an initial 33 years, with two renewal options of 33 years and 32 years. The base concession fee remains RM5 million per month, payable in advance and subject to a 5% increase every five years. Payments will begin three years from the date of the supplemental agreement or upon completion and commencement of port operations, whichever comes later. As before, RM1 million from each monthly payment will be channelled directly to MBINS as its entitlement under the joint venture structure. Tanco said the revisions are not expected to have any material impact on earnings for the financial year ending June 30, 2026. In December, the company named CCCC Dredging Southeast Asia Sdn Bhd, a unit of China Communications Construction Company, as the proposed engineering, procurement, construction and commissioning contractor for the seaport component, with a package valued at up to RM3.53 billion. Construction is expected to take about three and a half years once it begins. Later that month, Hong Kong-based Ocean Bridge International Ports Management Co Ltd was appointed to operate the terminal and deploy AI and automation technologies across cargo handling, storage, logistics transport and related services. However, ownership and ultimate disposal rights of the terminal assets will remain with MHSB, which will also bear all profits and losses from port operations. Tanco shares slipped two sen, or 1.22%, to RM1.62 on Thursday, valuing the group at about RM9.94 billion. The stock has gained more than 37% year to date.