KUALA LUMPUR (March 11): Based on corporate announcements and news flow today, companies that may be in focus on Thursday (March 12) may include: Eversendai Corp Bhd, Kejuruteraan Asastera Bhd, Malaysia Airports Holdings Bhd, Multi Sports Holdings Ltd, Scientex Bhd and Sime Darby Plantation Bhd.
Eversendai Corp Bhd has secured RM490.1 million worth of projects in the Middle East including a 55-storey luxurious commercial tower in Morocco and two commercial towers in Qatar, which is expected to benefit from investments made in preparation for the 2022 FIFA World Cup and Qatar National Vision 2030.
The group said it also won a facility control centre and an administrative building project for a well-known metro station in Saudi Arabia as the country’s economy appears to be the most active player in the Middle East construction sector.
Eversendai’s outstanding construction order book stands at a near all-time high of RM2.69 billion.
Kejuruteraan Asastera Bhd (KAB) has secured a contract worth RM28.6 million from China Construction Development (Malaysia) Sdn Bhd. The contract is from March 11 until Jan 9, 2024.
KAB said it will act as subcontractor for design, supply, delivery, installation, testing and commissioning, and maintenance of electrical and extra low voltage services works for Agile Tropicana Development Sdn Bhd on three blocks of serviced apartments in Kuala Lumpur.
Malaysia Airports Holdings Bhd (MAHB) saw a 23.4% decline in the number of passengers that travelled through its airports in February as the Covid-19 outbreak weighed on passenger traffic.
The airport operator said in February, passenger traffic among its 39 airports in Malaysia declined 23.4% to 6.24 million passengers from 8.15 million passengers in February 2019. Both international and domestic travellers saw reductions.
China-based shoe manufacturer Multi Sports Holdings Ltd plans to acquire shareholdings in Malaysian shoe wholesaler RESTA Enterprise Sdn Bhd via a sale share agreement (SSA) to be executed at a later date.
The Practice Note 17 company said the proposed deal will enable it to turn itself around. Multi Sports said it had on Jan 24 signed a Memorandum of Understanding (MoU) with RESTA Enterprise Sdn Bhd for the proposed acquisition.
RESTA is a shoe wholesaler in Malaysia established in 2001 and focuses on school shoes with the brand ABARO. It is also the owner of the brand VION, which focuses on Malaysian women’s shoes.
Scientex Bhd saw its second quarter ended Jan 31, 2020 net profit rise 32.18% to RM97.47 million from RM73.75 million a year ago, due to better performances from its manufacturing and property divisions. Quarterly revenue grew 19.28% to RM914.38 million from RM766.59 million previously.
For the six months ended Jan 31, 2020, the group saw its net profit increase 40.05% to RM178.44 million from RM127.41 million in the previous corresponding period.
Revenue for the six-month period stood 21.05% higher at RM1.79 billion from RM1.48 billion previously.
Scientex chief executive officer Lim Peng Jin said its affordable properties continue to command demand. The firm is on track to launch projects worth RM1.1 billion in gross development value in FY2020, growing from RM447.5 million worth of launches in 1H20.
Sime Darby Plantation Bhd said it may undertake corporate exercises, including request for proposals to seek consultancy and financial advice, in relation to its business operations in Indonesia.
The plantation company said it is in the ordinary course of reviewing its assets and such a corporate exercise would be taken to help the company make decisions later.