Latest news with #ClassitaHoldingsBhd
BusinessToday
16 hours ago
- Business
- BusinessToday
Bulls Back in Action As Bursa Rides Regional Optimism
Bursa Malaysia opened on a firm note on Tuesday, with gains in heavyweight stocks helping the benchmark index edge higher in early trade. At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.12 points, or 0.33%, to 1,568.36, after touching an intraday high of 1,569.74 and a low of 1,561.83. Broader market sentiment was positive, with the FBM 70 Index up 8.53 points to 16,604.17, the FTSE4Good Bursa Malaysia Index climbing 2.50 points to 945.50, the FBM Emas Index adding 29.81 points to 11,676.94, and the FBM Shariah Index advancing 30.80 points to 11,678.47. Among the most actively traded stocks, Classita Holdings Bhd gained half a sen to 9.5 sen with 1.07 billion shares changing hands, Nexgram Holdings Bhd added one sen to 38.5 sen, and Pharmaniaga Bhd rose half a sen to 18.5 sen. PRG Holdings Bhd slipped half a sen to 12 sen, while TWL Holdings Bhd was unchanged at 2.5 sen. The upbeat start followed positive cues from regional markets, with traders monitoring corporate earnings announcements and external economic data later in the week.
BusinessToday
a day ago
- Business
- BusinessToday
Classita Appoints Former IGP Tan Sri Razarudin As Executive Chairman
Classita Holdings Bhd has announced the appointment of former Inspector General of Police (IGP) Tan Sri Razarudin Husain @ Abd Rasid as its new Independent and Non-Executive Chairman, effective today. Tan Sri Razarudin, 62, retired as Malaysia's 14th IGP in June 2025 after more than 40 years of service in the Royal Malaysia Police (PDRM). He is recognised for his firm leadership, operational expertise, and dedication to institutional transformation, particularly in narcotics enforcement, border security, and talent development. Starting his career as a Cadet Inspector on 27 December 1982, Razarudin steadily rose through the ranks, serving in various senior roles including District Police Chief, Director of the Narcotics Criminal Investigation Department (NCID), and Deputy IGP. He assumed the top police post in June 2023, where he championed modernisation efforts and enhanced professional standards within the force. His tenure saw the introduction of diploma-level qualifications for police constables, plans for a dedicated police university in collaboration with Universiti Kebangsaan Malaysia (UKM), and strengthened international security ties with the Australian Federal Police and China's security agencies. Razarudin also oversaw major national enforcement operations, such as Op Hazard, which uncovered RM2.8 billion worth of e-waste smuggling; Op Sawmill, which seized RM97.3 million in illegal logging; and the dismantling of a child exploitation and cult syndicate linked to GISB Holdings. He holds a Master's degree in Social Science (Policing Studies) and a Diploma in Investigation Science, both from UKM.
New Straits Times
a day ago
- Business
- New Straits Times
Classita appoints former IGP as chairman, rebrands to NexG Bina in affordable housing push
KUALA LUMPUR: Classita Holdings Bhd has appointed former inspector-general of police Tan Sri Razarudin Husain as non-executive chairman, effective immediately, as the company pivots toward public-interest-aligned development and large-scale infrastructure projects. The leadership change follows NexG Bhd's emergence as Classita's substantial shareholder with a 32.61 per cent stake. The group has proposed a rebranding to NexG Bina Bhd, subject to shareholder approval, to reflect its shift into construction and development in partnership with NexG Group. Ng Keok Chai, previously executive chairman, has been redesignated as executive director and will remain actively involved in project execution and business development under the company's new direction. Leveraging his four decades in the police force, Razarudin is spearheading a proposal for a dedicated residential project for members of Koperasi Polis Diraja Malaysia (KPDRM) on Classita's Ulu Kelang landbank. The initiative, originally earmarked for a public service housing project (PPAM), will be repositioned as a mission-driven development aimed at affordable, dignified housing for police personnel and their families. "Affordable, dignified housing is not just a need - it's a foundation for stability, morale, and long-term wellbeing. This initiative is not about property; it's about purpose. By proposing this to KPDRM, we're creating a win-win solution - uplifting the lives of those who serve the nation, while aligning Classita's future with meaningful, socially driven development," he added. In addition to housing initiatives, Classita is preparing for participation in large-scale infrastructure projects, most notably the MRT3 System Project. The company is collaborating with Lion Pacific Sdn Bhd to jointly tender for the MRT3 System Project, with Lion Pacific acting as lead contractor. Under the proposed arrangement, Classita is expected to undertake the SY303 work package, which involves the supply, testing, and commissioning of electric trains and related systems. Classita said this partnership positions it to play a significant role in national infrastructure delivery and reflects the company's capacity to meet the demands of high-value, public-sector engineering contracts aligned with the Madani agenda. With strategic support from NexG, whose core businesses include secure ID solutions, eKYC platforms and government-aligned digital infrastructure, Classita is set to expand its role in affordable housing, infrastructure and public-private partnership programmes. Under the 13th Malaysia Plan, the government aims to build one million affordable homes by 2035, alongside major investments in transport, urban renewal and infrastructure. A total of RM560.45 million has been set aside to upgrade 1,776 health clinics, while over 82,000 police and army quarters are being built or refurbished. The Malaysia Construction Industry Report 2025 notes over 1,049 public projects worth RM58.8 billion in the pipeline, with RM60–70 billion in annual opportunities for housing, infrastructure and institutional works. Razarudin said with the backing of NexG and a renewed leadership mandate, Classita is transforming into a development platform that serves not just markets but Malaysians. "We are aligning ourselves with the nation's policy agenda—from affordable housing and infrastructure to projects that deliver lasting socioeconomic impact. "To realise these ambitions at scale, government support will be crucial — including strategic land allocations, regulatory facilitation, and integration into national programmes.
Malaysian Reserve
2 days ago
- Business
- Malaysian Reserve
NexG stock downgraded to Sell, target price lowered to 45 sen
NexG Bhd is making its biggest sector leap, by acquiring 402m shares (32.6% equity) in Classita Holdings Bhd from Hong Seng Consolidated for RM60.3m, alongside 414.3m Classita warrants for RM16.5m. That is RM76.8m in total, partially funded by RM40m in borrowings, marking a rare move for the group into the property and construction space. We are Neutral on the deal's fundamentals as the near-term earnings impact is minimal, while long-term execution risk remains high given Classita's volatile track record. Nevertheless, the share price has rallied in recent months with much of the perceived upside highly likely has been priced in. Hence, we are downgrading our call from Hold to Sell, while keeping our target price at 45 sen based on 18x price to earnings ratio (PER) (+1 standard deviation above average 3-year forward PER) applied to FY26F diluted earnings per share of 2.5 sen. — BIMB Securities Sdn Bhd (Aug 11, 2025) (Calls by analysts tracked by Bloomberg: 4 Buy, 0 Hold, 1 Sell; Consensus target price: 52 sen)
The Star
2 days ago
- Business
- The Star
Classita shares jump on NexG's 32.61% stake acquisition news
KUALA LUMPUR: Classita Holdings Bhd shares traded actively and rose in early trade Monday after NexG Bhd announced plans to acquire a 32.61% stake in the company, marking its entry into the property and construction sector. The counter jumped 18.75%, or 1.5 sen, to 9.5 sen at 9.41 am, making it the most actively traded stock on Bursa Malaysia with 37.91 million shares changing hands. Year-to-date, it has surged more than 58%. NexG, formerly known as Datasonic Group Bhd , is purchasing a 32.61% equity interest and 414.31 million warrants in Classita for a total cash consideration of RM76.78mil. The move will make NexG the largest shareholder of Classita, with the company calling the acquisition a strategic opportunity to expand into the property and construction sector. Classita and its subsidiaries are principally engaged in the manufacturing and sales of undergarments, property development and construction as well as direct selling and retailing of its in-house brands.
