KUALA LUMPUR (April 15): Based on corporate announcements and news flow today, companies in focus tomorrow (April 16) may include: Malaysian Resources Corp Bhd, Kejuruteraan Asastera Bhd, Guan Chong Bhd, Pertama Digital Bhd, UMW Holdings Bhd, Malayan Banking Bhd, 7-Eleven Malaysia Holdings Bhd, Paramount Corp Bhd, WZ Satu Bhd, Malayan Cement Bhd, Fajarbaru Builder Group Bhd, LPI Capital Bhd, UEM Edgenta Bhd and Ahmad Zaki Resources Bhd.
Former Kumpulan Wang Persaraan (Diperbadankan) (KWAP) CEO Datuk Wan Kamaruzaman Wan Ahmad has emerged as an independent non-executive director on the board of Malaysian Resources Corp Bhd (MRCB).
Electrical and mechanical engineering services provider Kejuruteraan Asastera Bhd (KAB) has appointed Datuk Dr Ong Peng Su as its independent non-executive chairman.
Guan Chong Bhd chairman Datuk Dr Mohamad Musa Md Jamil has resigned after 16 years in the role, citing other personal commitments as the reason for his departure. Guan Chong independent director Tan Ah Lai replaces Mohamad Musa in the role.
The public can now make digital payments beyond RM30,000 up to RM500,000 for court bails through Pertama Digital Bhd's application called eJamin. Permata Digital said eJamin is a digital court bail payment solution.
UMW Holdings Bhd's automotive sales surged by 35% in the first quarter of 2021 (1Q21) as UMW Toyota Motor (UMWT) and its associate company Perodua registered higher sales on the back of new model introductions as well as sales tax exemption, which is in place until June 30. The group highlighted that UMWT sales increased by 60.6% to 17,000 units in 1Q21 compared with 10,583 units registered in the previous year. Meanwhile, Perodua sales rose by 28.8% to 57,911 units from 44,977 units sold in the previous year's corresponding quarter as production increased to meet demand for all its models, especially the newly launched Perodua Ativa.
Malayan Banking Bhd (Maybank), the country's largest lender by assets, said its 61st annual general meeting, which was supposed to be held today, has been rescheduled due to a technical issue faced by remote participation and voting facility provider Tricor Investor & Issuing House Services Sdn Bhd.
7-Eleven Malaysia Holdings Bhd (SEM) has settled its lawsuit against the operator of Dego Ride. Under the amicable settlement recorded at the High Court, Dego Malaysia Sdn Bhd and its founder Nabil Feisal Bamadhaj are to pay SEM's wholly-owned unit 7-Eleven Malaysia Sdn Bhd, and web service provider Qinetics Solutions Sdn Bhd, a sum of RM2.8 million.
Paramount Corp Bhd’s wholly-owned Magna Intelligent Sdn Bhd is investing in a peer-to-peer (P2P) financing platform by acquiring a 30% stake in Omegaxis Sdn Bhd for RM13.7 million, which the group sees as its entry point into the fintech sector. Omegaxis is a special purpose vehicle set up to facilitate Paramount’s proposed investment in P2P financing platforms, with the balance 70% stake in the vehicle to be held by P2P Venture Sdn Bhd, in which Paramount CEO Chew Sun Teong has direct equity interests of 29.47%, and 37.39% in redeemable convertible cumulative preference shares.
WZ Satu Bhd said its unit has secured a contract worth RM243.44 million for the provision of engineering, procurement, construction, and commissioning of effluent management at source project. The company said its wholly-owned subsidiary as the consortium partner, together with the consortium leader HRSB Holdings Sdn Bhd, accepted the letter of award for the contract from Malaysia Refining Company Sdn Bhd.
Malayan Cement Bhd plans to raise RM226.95 million via a private placement, based on an indicative price of RM2.67 per share, to be used for working capital and debt repayment.
Fajarbaru Builder Group Bhd has proposed to undertake a rights issue with free warrants to raise up to RM37.39 million to fund the group’s existing and future construction projects and future property development projects, business expansion and future viable investment in the logging and timber trading, as well as plantation segments The group said the rights issue of up to 373.88 million shares will be on the basis of one rights share for every one existing share held, while a similar number of warrants will be issued on the basis of one warrant for every rights share subscribed.
LPI Capital Bhd's net profit for the first quarter ended March 31, 2021 (1QFY21) rose 5.64% to RM82.31 million from RM77.92 million a year earlier, thanks to higher dividend incomes from equity investments. Earnings per share improved to 20.66 sen from 19.56 sen. Revenue for the quarter came in at RM440.79 million, increasing by 9.13% from RM403.91 million a year earlier.
UEM Edgenta Bhd's subsidiary Edgenta Propel Bhd (EPB) is being sued for allegedly failing to complete an RM87 million sub-contract under the Klang Valley Mass Rapid Transit's Putrajaya Line (MRT2) project. The suit was filed in the High Court by Ahmad Zaki Resources Bhd's unit, Ahmad Zaki Sdn Bhd (AZSB), which had awarded the sub-contract to EPB in 2016. It involves the relocation of telecommunication works to facilitate the construction of a viaduct guideway from Persiaran Dagang in Bandar Sri Damansara to Jinjang. AZSB is seeking RM23.75 million in liquidated and ascertained damages and about RM5 million in consequential damages.