Thursday 28 Sep 2023
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KUALA LUMPUR (June 24): Based on corporate announcements and news flow today, companies in focus tomorrow (June 25) may include: Serba Dinamik Holdings Bhd, Astro Malaysia Holdings Bhd, Gamuda Bhd, Eco World Development Group Bhd, Eco World International Bhd, United Malacca Bhd, Malakoff Corp Bhd, Solarvest Holdings Bhd, Handal Energy Bhd and Xin Hwa Holdings Bhd.

Serba Dinamik Holdings Bhd said KPMG has resigned as its external auditor with immediate effect after the audit firm served the written notice to the group yesterday. Meanwhile, the Employees Provident Fund has sold another 30.5 million shares (0.82% stake) in Serba Dinamik, leaving the statutory retirement fund with 8.566% in the engineering services solutions provider.

Astro Malaysia Holdings Bhd announced today that it will be bringing Netflix's streaming services to Astro's platform, confirming a report by The Edge yesterday that the partnership between the two groups would be unveiled this week. Astro said its customers will soon be able to enjoy seamless access to Netflix on their connected Ultra Boxes, first at launch, and on connected Ulti Boxes in the coming months.

Gamuda Bhd's net profit shot up by 252.53% to RM141.83 million in the third quarter ended April 30, 2021 from RM40.23 million recorded a year earlier as the pace of construction and property projects and traffic on the expressways returned to pre-Movement Control Order levels. Quarterly revenue surged by 76.61% to RM971.18 million from RM549.9 million, underpinned by higher sales in its property sales division.

Eco World Development Group Bhd’s net profit surged 172% to RM42.32 million for the second financial quarter ended April 30, 2021  from RM15.55 million in the previous year’s corresponding quarter. The group announced an interim single-tier dividend of two sen per share. Revenue for the quarter increased 22% to RM420.46 million from RM345.4 million a year earlier. The group said it recorded sales of RM1.32 billion during the quarter, almost double the RM706 million sales achieved in the preceding quarter.

Meanwhile, Eco World International Bhd (EWI) posted a net profit of RM11.3 million for the second quarter ended April 30, 2021, nearly 44% lower than the RM20.06 million reported a year ago, due to higher finance cost, administrative and general expenses and marketing expenses. The property developer’s quarterly revenue, however, made a massive leap to RM107.56 million from RM113,000 a year ago, underpinned by its West Village and Yarra One projects following progressive handover of units sold to customers and fees for marketing services rendered by a subsidiary to the group’s joint venture in respect of property sales of its projects in the United Kingdom. EWI has declared a special dividend of five sen, payable on July 23.

United Malacca Bhd posted a net loss of RM11.53 million or 5.5 sen earnings per loss in the fourth quarter ended April 30, 2021, versus a net profit of RM13.73 million or earnings per share of 6.54 sen in the immediate preceding quarter. This group attributed the loss to its Indonesian operations in Kalimantan, which recorded a plantation loss of RM800,000, compared with a plantation profit of RM3.5 million in the preceding quarter. Quarterly revenue fell slightly to RM106.36 million from RM106.98 million. On a year-on-year basis, the group saw a narrowing of net loss from RM60.75 million while revenue grew 23.4% from RM86.19 million. The group declared a second interim dividend of seven sen per share, to be paid on Aug 16.

Malakoff Corp Bhd has appointed Solarvest Holdings Bhd as its solar photovoltaic (PV) systems contractor to accelerate its solar power purchase deals with several logistic players in the country. The group said the partnership also aims to assist businesses in Malaysia achieve its environmental goals through solar PV solutions.

Integrated services provider to the oil and gas industry Handal Energy Bhd has won a five-year contract from ExxonMobil Exploration and Production Malaysia Inc to provide crane operation and maintenance services. The contract, to run from June 15 this year till June 14, 2026, does not carry a specified value as it is on a call-out basis — meaning rates will be determined when the service is provided as is required during the contract's tenure, said the group.

Bursa Malaysia Securities Bhd has publicly reprimanded Xin Hwa Holdings Bhd and two of its former directors for breaching Main Market listing requirements and imposed fines totalling RM150,000. This is in regard to advances and payments made on behalf of its wholly-owned subsidiary Xin Hwa Trading & Transport Sdn Bhd between Jan 1, 2017 and Dec 31, 2018.

Edited ByS Kanagaraju
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