Saturday 20 Jul 2024
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KUALA LUMPUR (March 17): Based on corporate announcements and news flow today, companies in focus on Thursday (March 18) may include Top Glove Corp Bhd, Jaycorp Bhd, Pharmaniaga Bhd, Wah Seong Corp Bhd, Kejuruteraan Asastera Bhd, Cycle & Carriage Bintang Bhd and Serba Dinamik Holdings Bhd.

Top Glove Corp Bhd has claimed trial against charges of failure to provide Labour Department (JTK)-certified accommodations, and the matter has been set for another mention on April 28. The glove maker said it was present at the Ipoh Sessions Court yesterday for the first case mention in relation to an inspection by JTK in November last year under the Workers' Minimum Standards of Housing and Amenities Act 1990.

Jaycorp Bhd has temporarily closed its 87%-owned subsidiary Instyle Sofa Sdn Bhd (ISSB) after 55 of its employees tested positive for Covid-19. ISSB had conducted a Covid Antigen Test on its entire workforce, and the screening exercise, which covered 207 employees at Kawasan Perindustrian Grisek in Tangkak, Johor, showed that 55 employees tested positive for Covid-19.

Pharmaniaga Bhd's fourth-quarter net loss narrowed to RM6.33 million, from RM178.6 million a year earlier, despite a reduced demand from its concession business amid the Covid-19 pandemic. Quarterly revenue dropped 11.33% to RM634.58 million, from RM715.68 million a year ago. The group declared a fourth interim dividend of one sen per share, payable on April 22.

Wah Seong Corp Bhd, via its wholly-owned subsidiary WS Engineering & Fabrication Pte Ltd, has bagged a contract worth US$35.95 million, equivalent to RM147.81 million, for modules fabrication works on a project in the UK. The scope of work of the contract, which was awarded by UK-based Fluor Ltd, involves complete fabrication and assembly of pipe rack, process, and structural modules and skid units and testing, pre-commissioning, turnover and load out services for the modules, said Wah Seong.

Kejuruteraan Asastera Bhd has bagged two electrical engineering contracts worth RM14.7 million. It has received two letters of acceptance from Binastra Ablebuild Sdn Bhd and Pembinaan Tuju Setia Sdn Bhd for supplying, delivering, installing, testing and commissioning of electrical services.

Cycle & Carriage Bintang Bhd's (CCB) largest shareholder Jardine Cycle & Carriage Ltd (Jardine CCL) has made a fresh bid to privatise the country's largest dealer of Mercedes-Benz at RM2.40 per share. The offer is higher by 72 sen or 42.86% to CCB's closing price today of RM1.68, and is higher by between 44.56% and 65.12% to the volume weighted average market price of the shares within a five-day to a one-year period.

Serba Dinamik Holdings Bhd is collaborating with seven institutions of higher learning as its strategic partners in Malaysia to establish a New Space Economy Nexus to explore the areas in space technology.

Edited ByS Kanagaraju
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