Tanco, PA Resources, Paragon Globe, Epicon, Lagenda Properties, CPE Technology, Fibromat, TSR Capital

KUALA LUMPUR (July 14): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

Tanco Holdings Bhd (KL:TANCO) has broken ground on Midport, Malaysia’s first smart AI-powered container port in Pasir Panjang, Port Dickson, Negeri Sembilan. Developed by its 79%-owned unit Midports Holdings Sdn Bhd on a 180-acre site within the gazetted Kuala Sungai Linggi Port Limits, the project is expected to take 42 months to complete, with commercial operations slated between 2029 and 2030. The port will feature a 1.5km trestle and six berths, with handling capacity of up to eight million twenty-foot equivalent units (TEUs) upon full completion. Prime Minister Datuk Seri Anwar Ibrahim officiated the groundbreaking ceremony on Tuesday. — PM officiates groundbreaking of Tanco’s smart AI container port in Port Dickson

Separately, the group has signed two new memorandums of understanding (MOUs) related to its proposed Smart AI Container Port in Port Dickson. One of the agreements is with China’s state-owned SPG Qingdao Port Group Co, which will explore participation in the port project and efforts to raise funds. The MOU was signed by Midports Holdings with SPG Qingdao on a non-exclusive basis. The group has also signed an agreement relating to the supply of armour rocks, which are large rocks used to protect reclaimed land from erosion. These rocks will support the land reclamation works needed for the proposed Smart AI Container Port in Port Dickson. — Tanco inks more Smart AI Port MOUs, including with China’s SPG Qingdao for funding

PA Resources Bhd (KL:PA) has renewed its agreement with First Solar Inc, First Solar Malaysia Sdn Bhd and First Solar Vietnam Manufacturing Co Ltd for the supply of aluminium extrusion profile used in the production of photovoltaic modules. The RM1.31 billion contract is for an 18-month period from July 2026 to December 2027. This is the fifth supply agreement secured by PA Resources from First Solar. — PA Resources bags RM1.3b contract extension from First Solar

Paragon Globe Bhd (KL:PGLOBE) has proposed to acquire an additional 195.6-acre portion of a 256.7-acre freehold tract in Sedenak, Johor, for RM127.28 million in cash to develop an industrial park with an estimated gross development value of RM1.69 billion. The project is expected to generate RM430 million in gross development profit over eight years. — Paragon Globe to acquire Sedenak land for RM127.3m, plans RM1.69b industrial park

Doh family-linked Lagenda Properties Bhd (KL:LAGENDA) and Epicon Bhd (KL:EPICON) have proposed a RM543.16 million deal that will transform Epicon into Lagenda’s construction platform. The two companies said under the proposed transaction, Epicon will acquire a 60% stake in Lagenda’s construction subsidiaries, Rantau Urusan (M) Sdn Bhd and LPB Construction Sdn Bhd. The acquisition will be satisfied through the assumption of RM125.82 million in related-party debt, the issuance of 1.86 billion new Epicon shares worth RM241.43 million and 1.35 billion Class A redeemable convertible preference shares worth RM175.91 million. Both securities will be issued at RM0.13 each. Following completion of the acquisition and related corporate exercises, Lagenda will become Epicon’s controlling shareholder with a 62.79% stake, while Lagenda and its related parties will collectively hold about 73.34% of Epicon. — Doh family-linked Lagenda, Epicon propose RM543.16m deal to turn Epicon into Lagenda’s construction

Engineering precision parts maker CPE Technology Bhd (KL:CPETECH) is partnering with Japanese surface-treatment specialist Kanekita Co Ltd to establish a semiconductor-focused manufacturing venture. Under the joint venture agreement signed on July 14, CPE Technology will provide its manufacturing capabilities while Kanekita contributes its passivation technology expertise to produce high-value stainless-steel components for the semiconductor industry. — CPE Tech partners Japan’s Kanekita to venture into semiconductor components manufacturing

Fibromat (M) Bhd (KL:FIBRO) has secured a RM140 million subcontract to undertake the construction of the Limpaku Pinang access road in Sarawak's Limbang Division. The subcontract was awarded by Hexatrend Sdn Bhd with the work scheduled to be completed in June 2029. — Fibromat secures RM140 mil roadworks subcontract in Sarawak

TSR Capital Bhd (KL:TSR) has secured a RM130 million contract to widen a stretch of the Kuala Lumpur-Karak Highway. The 24-month job was awarded by AFA Construction and Engineering Sdn Bhd to TSR Capital's wholly-owned unit, TSR Bina Sdn Bhd, and is scheduled for completion by the third quarter of 2028. — TSR Capital bags another KL-Karak highway widening contract worth RM130m