Saturday 20 Jul 2024
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KUALA LUMPUR (Sept 29): Based on corporate announcements and news flow on Tuesday, companies in focus on Thursday (Sept 30) CEKD Bhd, Scientex Bhd, Astro Malaysia Holdings Bhd, Telekom Malaysia Bhd (TM), IOI Properties Group Bhd, Sapura Energy Bhd, FGV Holdings Bhd, Green Packet Bhd, Widad Group Bhd, Notion VTec Bhd, Karex Bhd, Gamuda Bhd and Berjaya Corp Bhd.

Die-cutting solution provider CEKD Bhd made its debut on the ACE Market at 60 sen on Wednesday, notching a premium of 12 sen or an increase of 25% over its initial public offering price of 48 sen. At the opening bell, the counter saw 6.29 million shares changing hands. Its independent non-executive chairman Datuk Zulkifli Adnan said the IPO is expected to give the group more visibility and aid in the expansion of the business.

Scientex Bhd's net profit for the financial year ended July 31, 2021 (FY21) rose 17.2% to RM457.23 million from RM390.11 million in FY20 on the back of a 3.9% rise in revenue to RM3.7 billion. Scientex attributed the record revenue to stable packaging demand and higher sales of affordable homes in Malaysia. The packaging manufacturer and property developer proposed a final dividend of five sen per share.

Astro Malaysia Holdings Bhd and Telekom Malaysia Bhd (TM) have entered into a collaboration in delivering high-quality digital experience to all Malaysians through the provision of reliable broadband and content services. The companies said Astro’s wholly-owned subsidiary MEASAT Broadcast Network Systems Sdn Bhd and TM inked deals on Wednesday to collaborate as part of their commitment to supporting the Jalinan Digital
Negara (JENDELA) initiative in providing wider broadband coverage and a better experience nationwide.

IOI Properties Group Bhd’s wholly-owned subsidiary Boulevard View Pte Ltd has been successful in its bid to buy a 0.78ha leasehold land known as the White site at Singapore’s Marina View enclave for S$1.508 billion (RM4.68 billion).  Boulevard View was the sole bidder. IOI Properties said the land tender represents an attractive and viable opportunity for the group to venture into a mixed-use development comprising residential, hotel and commercial elements in the Marina Bay area.

Sapura Energy Bhd announced that its chairman Tan Sri Shamsul Azhar Abbas had resigned from both its nomination and remuneration committees, according to bourse filings on Wednesday. The group said the 69-year-old's resignation as a member of the committees will be effective on Oct 1.

FGV Holdings Bhd has denied that the plantation giant plans to set up an oil palm processing unit in the south Indian State of Telangana. In a statement to on Wednesday, FGV said the group’s presence in India is through FGVPU India Private Ltd, a joint venture based in Hyderabad between FGV Trading Sdn Bhd (FGVT) and Pre-Unique India Pvt Ltd. FGVT is a subsidiary of FGV Plantations Sdn Bhd, which in turn is a wholly-owned subsidiary of FGV, the group said.

Green Packet Bhd saw its net loss in the second quarter ended June 30, 2021 widen to RM49.24 million from RM11.98 million a year earlier, on the back of fair value loss on other quoted investment amounting to RM17.7 million. Quarterly revenue declined 13.89% to RM124.85 million from RM144.99 million, mainly due to reduced inbound traffic on voice minutes from the communications business.

Widad Group Bhd has accepted a Letter of Award from the Public Works Department (JKR) for a RM244.3 million project to build Package 3C of the Kota Bharu–Kuala Krai Expressway in Kelantan. The group said the work will commence on Dec 27 and is slated to be completed in the next three years.

Notion VTec Bhd was back in the red with a net loss of RM11.32 million for the third quarter ended June 30, 2021 (3QFY21), after three straight quarters of profit. The hard disc drive (HDD) component maker had reported a net profit of RM3.16 million for the immediate preceding quarter. The group said its machining business was affected by the Movement Control Order, rise in metal cost of up to 60%, and labour shortage.

Karex Bhd has reported its first full-year net loss on record, blaming it on unavoidable operational expenses arising from the lockdown and higher distribution expenses. The condom maker posted a net loss of RM1.02 million for year ended June 30, 2021 (FY21), compared with net profit of RM228,000 in FY20.

Gamuda Bhd posted a net profit of RM214.08 million in the fourth quarter ended July 31, 2021 (4QFY21), against a net loss of RM12.52 million a year ago. The improvement in quarterly earnings was due to stronger construction and property earnings as work on all fronts picked up pace on the back of rigorous Covid-19 control measures adopted by the group, and the absence of last year’s one-off non-cash industrialised building system (IBS) assets impairment of RM148.1 million.

Berjaya Corp Bhd’s net loss eased to RM242.54 million in the fourth quarter ended June 30, 2021 (4QFY21) from RM323.76 million a year ago, as the group's revenue more than doubled to RM1.75 billion from RM859.02 million. The group said its quarterly loss was due to the recognition of non-cash impairment in the value of certain assets. The loss was, however, mitigated by profits achieved by the group's other business segments such as gaming, food and beverage, and consumer marketing.

Edited ByS Kanagaraju
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