Mega First Corporation Berhad (MFCB) is a diversified company operating in 3 main divisions – Power Generation, Resources and Property Development and Investment. The Group operates mainly in Malaysia and the People’s Republic of China.

Incorporated in Malaysia on 25 April.
Converted to a Public Company on 31 December.
Listed on Kuala Lumpur Stock Exchange (KLSE) on 11 August.
  1990 Adopted present name, MFCB on 15 March.
Completed restructuring through the emergence of a white knight. MFCB’s principal business then were quarrying of limestone in Baling (via Lime & Lime Products Sdn Bhd) and Simpang Pulai (via Syarikat Cheng Sun Quarry Sdn Bhd) and trading and distribution of industrial, agro and petroleum based products (via Perusahaan Kimia Gemilang Sdn Bhd (PKG)). PKG was disposed off in February 1992.
Acquired 100% equity interest in Mamut Copper Mining Sdn Bhd (MCM). MCM then operated the Mamut Copper Mine, an open pit mine at Ranau on the Southern Eastern slopes of Mount Kinabalu, Sabah.
Relisted on KLSE on 7 June after a restructuring.
Acquired 26.7% equity interest in Palmco Holdings Berhad (PHB). PHB became an associate on 31 July.
Acquired 36.2% equity interest in Rock Chemical Industries (Malaysia) Berhad (RCI). RCI became an associate on 8 January.
Acquired 60% equity interest in CEL Tractors Sdn Bhd, which was principally involved in the trading of heavy equipment. This subsidiary was disposed off in March 2001.
Bloxwich International Sdn Bhd (BISB), a 51% owned subsidiary, acquired 100% equity interest in Bloxwich Engineering Ltd (BEL), which was principally involved in manufacturing container locking gears and automotive components.
Serudong Power Sdn Bhd (51% owned subsidiary) was granted the right to build, own and operate a 36MW power plant in Tawau, Sabah. The power plant commenced commercial operation on 2 December 1996.
Acquired 60% equity interest in Shaoxing Mega Heat And Power Co., Ltd (SMHP), a heat and power producer in the town of Qixian, Shaoxing County in the Zhejiang Province, China.
Completed the disposal to IOI Corporation Berhad the Group’s 32.96% equity interest in PHB.
Expanded the Property Division with the acquisition of Gombak Land Sdn Bhd. This resulted in the Division having development projects in Ipoh, Melaka and the Klang Valley.
Mamut Copper Mine closed.
Disposed off 100% equity interest in Lime & Lime Products Sdn Bhd together with its 97.5% equity interest in Parrange Sdn Bhd.
BEL acquired 100% equity interest in Bloxwich Industries (Pty) Limited and Bloxwich Tool & Die (Pty) Limited.
Idaman Harmoni Sdn Bhd (65% owned subsidiary) completed its acquisition of the PJ8 development land.
Entered into Joint Venture Agreement with IJM Properties Sdn Bhd to develop PJ8 land.
RCI became a subsidiary.
Batamas Sdn Bhd became a subsidiary of RCI.
Exited from the automotive components business in the UK.
Signed the Project Development Agreement for the Don Sahong Hydropower Project in Champasak Province, Laos (Don Sahong Hydropower Project). The Don Sahong Hydropower Project is a run-of-river hydropower project which will have a capacity of 256MW.
Entered into Shareholders Agreement with IJM Corporation Berhad to set up a joint venture to hold together with the Government of Laos and other investors, the shares in a project company that will be undertaking the development and operation of the Don Sahong Hydropower Project.
    Exited from the automotive components business in South Africa.
Increased shareholding in Hexachase Corporation Sdn Bhd (Hexachase) from 50% to 52.38%. Hexachase became a subsidiary on 6 April.
Signed the Memorandum of Undertaking with Electricite Du Laos, Lao People's Democratic Republic (EDL), for the Don Sahong Hydropower Project.
MFCB became a substantial shareholder of Jadi Imaging Holdings Berhad (JADI).
Acquired from IJM Corporation Berhad its interest in the Don Sahong Hydropower Project.
Acquired 100% equity interest in Anting Sendirian Berhad and Sri Anting Sdn. Bhd.
Completed the take-over offer to acquire all the remaining interests in RCI, which resulted in RCI becoming a 100%-owned subsidiary. On 11 April 2013, RCI converted from public company to private company and has adopted Rock Chemical Industries (Malaysia) Sdn. Berhad as its new name.
Obtained approval from the Royal Government of Cambodia for the concession of a plot of land measuring 9,477 hectares situated in the Namlear Wildlife Sanctuary Zone, Mondulkiri Province, Kingdom of Cambodia primarily for the development and cultivation of rubber.
Signed the Tariff Memorandum of Understanding with EDL for the Don Sahong Hydropower Project.
  2014 Acquired 65% equity interest in Hexachase Flexipack Sdn. Bhd (HFSB).
JADI ceased to be an associate of the Group on 16 February.
Entered into a Shareholders' Agreement with EDL to regulate the parties' participation in a project company that will be undertaking the development and implementation of the Don Sahong Hydropower Project.
Acquired 51.22% equity interest in Melewar Jutamas Sdn. Bhd.
Incorporated Don Sahong Power Company Ltd (DSPC) on 7July. DSPC is 80% owned by the Group.
DSPC entered into a Concession Agreement with the Government of The Lao People’s Democratic Republic (GOL) on15 September, whereby the GOL has granted on a build, operate and transfer basis, the concession rights to DSPC for the development of the Don Sahong Hydropower Project. The concession period shall end on the date occurring 25 years after the commercial operation date. Electricity generated shall be sold to EDL under a power purchase agreement.
DSPC entered into a Power Purchase Agreement with EDL on 1 October.
DSPC entered into an EPC Contract with Sinohydro Corporation Ltd on 15 October. The contract is for the development, construction and commissioning of the Don Sahong Hydropower Project for a period of 50 months.
Announced the proposal to undertake a Rights Issue with Warrants exercise on 26 November.
  2016 Completed the Rights Issue with Warrants exercise on 15 April.
Increased shareholding in Hexachase Flexipack Sdn. Bhd. from 65% to 80%.
Acquired 50.25% equity interest in Premier Capacity Sdn. Bhd.
On 22 October 2017, the sino-foreign co-operative joint venture agreement with Qixian Heat & Power Co., Ltd of the People's Republic of China, in relation to the power plant in China operated by SMHP expired and was not extended by the Group. Accordingly, SMHP has ceased to be an indirect subsidiary of MFCB.
The Power Purchase Agreement (PPA) between Sabah Electricity Sdn Bhd (SESB) and Serudong Power Sdn Bhd (SPSB) in relation to the power plant in Tawau has expired on 2 December 2017. As such, SPSB has stopped supplying energy to SESB until such time the PPA extension is executed.
* Last updated on 27 March 2018.




2008-18 © Copyrights, Mega First Corporation Berhad