KUALA LUMPUR (March 7): Based on corporate announcements and news flow today, stocks in focus for Friday (March 8) may include: S P Setia Bhd, Lafarge Malaysia Bhd, Handal Resources Bhd, Pelangi Publishing Group Bhd, Sasbadi Holdings Bhd, Jiankun International Bhd, KNM Group Bhd, Maxis Bhd and Sumatec Resources Bhd.
Retro Highland Sdn Bhd, the 50:50 joint venture between S P Setia Bhd and Tradewinds Corp Bhd, has signed a master agreement with the Kuala Lumpur City Hall (DBKL) for the redevelopment of the flats in Cheras.
S P Setia said the agreement was signed to outline the overall planning, design, construction, completion and commissioning of the project, called Quality Sustainable People Housing (QSPH) development.
The deal involves 138.25 acres of DBKL land in Cheras.
Lafarge Malaysia Bhd, which saw its shares surge by as much as 30% today to hit limit up, said it has no idea what might have caused the sudden jump in its share price.
Lafarge’s shares climbed by as much as 60 sen to RM2.60 when it hit limit up.
Handal Resources Bhd has proposed to raise up to RM5.04 million via private placement to third-party investors to be identified later.
The proceeds raised will be used to fund new projects, which may include the purchase of additional equipment to enable Handal to carry out the increased volume of maintenance and services works and/or purchase of offshore cranes to expand its fleet of rental cranes, as well as for working capital.
The proposed private placement will involve the issuance of up to 16 million new shares, representing not more than 10% of its issued shares.
Pelangi Publishing Group Bhd and Sasbadi Holdings Bhd separately announced that they have bagged textbook contracts from the Ministry of Education (MoE).
Pelangi said its wholly-owned subsidiary Penerbitan Pelangi Sdn Bhd received a letter of acceptance from the MoE to publish, print and supply Mathematics textbooks for Year 4 of the national-type Chinese primary Schools (SJKCs). The contract is worth RM1.06 million and valid for three years.
Sasbadi has also secured a 3-year contract to supply Arts education textbooks for Year 4 of the SJKCs from the MoE, worth RM746,460. The contract will start from March 5, 2019 and end on March 4, 2022.
A unit of Jiankun International Bhd has been served a summons for RM377,982 over its failure to pay the balance sum, pursuant to a settlement agreement in September last year.
Jiankun said the group has adequate resources to meet the commitment of the claim and therefore the lawsuit is not expected to have any material financial and operational impact on the group.
KNM Group Bhd has secured a US$4.87 million (RM19.9 million) contract for the supply of carbon steel pressure vessels for the Bapco Modernization Programme in Bahrain. The supply and delivery duration of the product is for 12 months.
Maxis Bhd has in collaboration with Huawei kicked off the first 5G live trials in Malaysia, specifically in Cyberjaya earlier this week.
The trials will be conducted over six months and are expected to provide a deeper analysis of 5G characteristics, Maxis said in a statement today.
Sumatec Resources Bhd's fourth quarter net loss narrowed by 98.7% to RM826,000 or 0.02 sen per share from RM65.54 million or 1.58 sen per share a year ago.
The group did not register any revenue for the quarter ended Dec 31, 2018 (4QFY18). In 4QFY17, the group posted revenue of RM16.85 million.
For the entire FY18, Sumatec’s net loss was reduced by 95.7% to RM2.74 million from RM63.67 million in FY17, while revenue declined by 89.7% to RM2.99 million from RM29.04 million.