ABOUT US CORPORATE PROFILE

Nylex (Malaysia) Berhad ("Nylex") is a public limited liability company, incorporated and domiciled in Malaysia and listed on the Main Market of Bursa Malaysia Securities Berhad in 1990.

 

Nylex was a dominant player in the petrochemicals, industrial and specialty chemicals, plastics and polymers business with an annual turnover of more than RM1.3 billion and over 16 subsidiaries operating mainly in Malaysia, Singapore, Indonesia and Vietnam.

 

On 26 January 2022, Nylex completed the disposal of its entire business and undertaking including all the assets and liabilities to Ancom Nylex Berhad (“ANB”), its holdings company and became an affected issuer under the Main Board Listing Requirements of Bursa Malaysia Securities Berhad.

 

Nylex is required to submit a regularisation plan to the Securities Commission of Malaysia (“SC”) within a period of 12 months from the date it became an affected issuer.

 

On 21 March 2022, Nylex announced that it has entered into a Heads of Agreement (“HOA”) with Sinar Bina Infra Sdn Bhd, LBS Bina Group Berhad, BTS Group Holdings Public Company Limited and ANB for the collaboration to build and operate a light rail transport system connected with the railway shuttle link currently being built from Singapore to Johor Bahru, with an integrated property development using the “Transit-Oriented Development” concept in Johor Bahru metropolitan region subject to an on-going feasibility study and the definitive agreement by the parties in the HOA..

 

The transaction above will form part of the regularisation plan to be undertaken by Nylex to regularise its affected listed issuer status. The regularisation plan will result in a significant change in the business direction or policy of Nylex and is subject to the approval of the SC.