This triggered the right to compulsorily acquire the remaining shares under Section 222 of the Capital Markets and Services Act 2007. — Apex Healthcare privatisation goes ahead as compulsory acquisition threshold crossedChin Hin Group Bhd’s (KL:CHINHIN) 95%-owned subsidiary, Kayangan Kemas Sdn Bhd, has initiated arbitration proceedings against Exyte Malaysia Sdn Bhd — the main contractor of the Intel Pelican Project in Bayan Lepas, Penang — seeking about RM201 million following a contract dispute. The plant is being acquired from PKNP Reneuco Suria Sdn Bhd, which is under receivership and is a 95%-owned subsidiary of Practice Note 17-listed Reneuco Bhd (KL:RENEUCO). Reneuco, then known as Kumpulan Powernet Bhd, in collaboration with Perbadanan Kemajuan Negeri Pahang (PKNP), was shortlisted to develop the 50MWac solar photovoltaic plant. The disposal slashed Insas’ stake in Omesti to 4.638%, below the requisite 5% to be deemed a substantial shareholder.

Source: The Edge Markets December 30, 2025 17:00 UTC