Saturday 30 Sep 2023
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KUALA LUMPUR (Sept 13) : Based on corporate announcements and news flow today, companies in focus on Tuesday (Sept 14) may include Gagasan Nadi Cergas Bhd, Hup Seng Industries Bhd, Scientex Bhd, Daibochi Bhd, Sunway Bhd, Pharmaniaga Bhd, UMW Holdings Bhd,
Malaysia Airports Holdings Bhd (MAHB), Bermaz Auto Bhd (BAuto), George Kent (Malaysia) Bhd, Symphony Life Bhd, JAKS Resources Bhd, Bioalpha Holdings Bhd, Pecca Group Bhd, Cheetah Holdings Bhd and Lambo Group Bhd.

Gagasan Nadi Cergas Bhd aims to take on more construction jobs by tendering for projects in excess of RM1.7 billion in the coming year. The group said its tender book consists of bids from the private and public sectors, including essential projects such as hospitals and healthcare facilities.

Hup Seng Industries Bhd announced today that its Johor factory has resumed operations after thorough disinfection was carried out. The biscuit
maker said its wholly-owned subsidiary Hup Seng Perusahaan Makanan (M) Sdn Bhd (HSPM) located in Kawan Perindustrian Tongkang Pecah, Batu Pahat, Johor, had received notice from the Ministry of Health (MoH) on Sept 11 to resume its operations commencing Sept 12.

Packaging manufacturer and property developer Scientex Bhd has proposed to acquire all the remaining shares and warrants of Daibochi Bhd that it does not already own at an offer price of RM2.70 per share and 32 sen per warrant, amounting to RM345.3 million in total. The group said the proposed exercise entails buying 124.78 million Daibochi shares which represent 38.12% of its total issued shares excluding treasury shares, and 26.14 million Daibochi warrants, representing 95.75% of the outstanding warrants. Scientex does not intend to maintain the listing status of Daibochi.

Sunway Bhd, through its joint-venture (JV) vehicle with Singapore developer Hoi Hup Realty, has won a competitive bid for the en bloc acquisition of Flynn Park in Singapore, with a bid of S$371 million (approximately RM1.15 billion) on Sept 9. Flynn Park is a 72-unit condominium development located on Yew Siang Road in Pasir Panjang, Singapore. Built in 1986, it was open for tender in end-July.

Pharmaniaga Bhd has cautioned that any analysis on the raw data of the effectiveness of Covid-19 vaccines, which include fatalities amongst the vaccinated population, released by the Ministry of Health (MoH) must use the standard scientific methodology and framework, as well as be peer-reviewed. The pharmaceutical company said that this is to ensure the interpretation of the data is accurate and to avoid erroneous speculation, as well as the risk of bias which can cause more harm than benefit to the national vaccination efforts.

UMW Holdings Bhd posted a 351.9% leap in automotive sales to 9,512 units in August from 2,105 units in July, after operations resumed following the easing of the Full Movement Control Order (FMCO) restrictions. UMW said both UMW Toyota Motor (UMWT) and its associate company Perusahaan Otomobil Kedua Sdn Bhd (Perodua) registered improved sales although operations at its showrooms and assembly plants resumed only on Aug 16.

Malaysia Airports Holdings Bhd (MAHB) is confident that its recovery as well as the Malaysian aviation sector will be strengthened with the support of the government. The group also hopes that the government will implement international travel bubbles or green lanes without quarantine imposition based on global travel standards as practised in Turkey, the Maldives, Dubai, Greece and Switzerland, among other countries.  

Bermaz Auto Bhd (BAuto) saw its net profit for the first financial quarter ended July 31, 2021 (1QFY22) rise 11% to RM10.27 million from RM9.25
million a year ago. Earnings per share rose to 0.88 sen for 1QFY22 from 0.80 sen for 1QFY21. This came despite revenue declining 28.5% to RM320.79 million during the quarter from RM448.89 million a year ago. BAuto has proposed a dividend of 0.5 sen per share for the quarter, similar to a year ago.

George Kent (Malaysia) Bhd today said that it has not received any offer from Malaysian Resources Corp Bhd (MRCB) to acquire its stake in the
Light Rail Transit Line 3 (LRT 3) project. In response to The Edge Weekly article, George Kent also said that it was not aware that the Ministry of
Finance (MoF) favours MRCB’s acquisition of George Kent's stake in the MRCB George Kent Sdn Bhd (JV Co).

Symphony Life Bhd reported a net loss of RM13.6 million for the first quarter ended June 30, 2021, compared to a net profit of RM6.13 million a year earlier, partly due to recognition of losses arising from the outcome of arbitration for  its Arata at Bukit Tunku project of RM4.5 million. Revenue rose 16.7% to RM35.6 million from RM30.5 million in the same period last year, helped  by higher sales achieved by the group’s Union Suites @ Bandar Sunway, Amajaya, Sungai Petani and Tijani Raja Dewa projects

JAKS Resources Bhd has inked a Memorandum of Understanding (MoU) with T&T Group Joint Stock Co to explore the possibility of collaborating to develop the 1,500MW Quang Ninh 2 liquefied natural gas (LNG)-to-power project in Quang Ninh province, Vietnam. Under the terms, both
JAKS and T&T Group will agree on a common approach in relation to the implementation of the LNG-to-power project, including the location, design, technology and infrastructure involved for the import terminal and the power plant, and the selection of LNG and gas-fired power solutions suppliers.

Health supplement group Bioalpha Holdings Bhd has called off the Memorandum of Understanding (MoU) it signed with Zuellig Pharma Sdn Bhd relating to the import, warehousing and distribution of Covid-19 vaccine in Malaysia. Bioalpha said its wholly-owned subsidiary Bioalpha International Sdn Bhd (BISB) and Zuellig Pharma have agreed to terminate the MoU with immediate effect.

Pecca Group Bhd closed its financial year ended June 30, 2021 (FY21) with a more than twofold increase in net profit at RM19.23 million, though its fourth quarter's (4QFY21) earnings fell to just RM26,000 from RM8.05 million in 3QFY21. The drop in 4QFY21 net profit from 3QFY21 came as revenue fell 30.26% to RM29.64 million from RM42.5 million, due to the nationwide lockdown that started on June 1.

Cheetah Marketing Sdn Bhd, a wholly-owned subsidiary of garment retailer Cheetah Holdings Bhd, has subscribed to a total of 239.50 million rights issue of ordinary shares, with 95.8 million free detachable warrants, in Lambo Group Bhd for a total cash consideration of RM23.95 million. Cheetah said the purchase was funded from internally-generated funds of Cheetah Group.

Edited ByS Kanagaraju
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