KUALA LUMPUR (Dec 18): Here is a brief recap of some corporate announcements that made news on Monday:
UWC Bhd’s net profit dropped 85.12% to RM4.35 million in the first quarter ended Oct 31, 2023 (1QFY2024) from RM29.25 million a year earlier due to lower revenue. Earnings per share fell to 0.4 sen from 2.66 sen. Quarterly revenue declined 51% to RM45.46 million from RM92.12 million which the group blamed on the impact of macroeconomic headwinds, especially the semiconductor market cyclical downturn. On a quarter-on-quarter basis, the group’s net profit came in higher compared with RM1.94 million in 4QFY2023 as revenue climbed 13.73% from RM39.97 million. UWC 1Q net profit drops 85% on lower revenue
APB Resources Bhd is acquiring 70 million shares in Globetronics Technology Bhd, representing a 10.41% stake in the Penang-based semiconductor manufacturer for RM140 million cash. The consideration of RM140 million or RM2 per share is a 16% premium to Globetronics' share price of RM1.73 at the time of writing. Upon the completion of the proposed acquisition, APB Resources will emerge as the second-largest shareholder in Globetronics. In a bourse filing, APB Resources said it was acquiring the shares from General Produce Agency Sdn Bhd (6.89%, or 46.31 million shares) and Ng Kweng Chong Holdings Sdn Bhd (3.52%, or 23.69 million shares), vehicles of the Ng family that founded Globetronics, which confirms a report by The Edge weekly on Monday about the purchase. APB Resources buys 10.41% stake in Globetronics for RM140 mil cash, to become its second-biggest shareholder
Keynote Capital Sdn Bhd, controlling shareholder of Apollo Food Holdings Bhd, is confirmed to be exiting the group after Scoop Capital Sdn Bhd, the franchisee of Baskin-Robbins, proposed to acquire Keynote's entire 51.31% stake in the confectionary maker for RM238.08 million in cash. Scoop Capital is purchasing the 41.05 million Apollo shares from Keynote — the investment vehicle of Singaporeans Liang Chiang Heng and his younger brother Liang Kim Poh — at RM5.80 per share, a 7.4% premium to the last closing price of RM5.40. While Scoop Capital is obliged to extend an unconditional mandatory takeover offer to acquire all the remaining 48.49% stake in the group at RM5.80 per share, it intends to maintain the listing status of Apollo on the Main Market of Bursa Malaysia. Scoop Capital buys out Apollo's controlling shareholder with RM238m cash, triggers MGO
NTPM Holdings Bhd saw its net loss in the second quarter ended October 31, 2023 (2QFY2024) widen to RM4.03 million from RM3.49 million in the previous year. This is largely due to income tax expenses incurred during the current quarter under review. Quarterly revenue, however, rose by 1.9% to RM224.66 million from RM220.37 million, underpinned by increased sales in the personal care products segment. Despite posting the net loss, the group declared its first interim dividend of 0.8 sen per share to be paid on Jan 26, 2024, matching the amount per share declared in the previous financial year. NTPM 2Q net loss widens to RM4 mil on income tax expenses, declares 0.8 sen dividend
Newly listed ACE Market counter Critical Holdings Bhd ended its maiden trading day at 57 sen on Monday (Dec 18), up 62.86% from the initial public offering (IPO) price of its shares of 35 sen. The mechanical, electrical and process utilities (MEP) engineering company saw 136.7 million shares changing hands, making it the fourth most actively traded stock of the day, valuing the group at RM211.9 million. This makes Critical Holdings the 12th best performing IPO among the 31 new stocks listed on Bursa this year. Critical Holdings raised a total of RM26.02 million via the public issuance of 74.35 million shares under its IPO. Critical Holdings jumps 63% on ACE Market debut
United Malacca Bhd’s net profit in the second quarter ended October 31, 2023 (2QFY2023) fell by 12.64% to RM13.72 million from RM15.71 million in the previous year, mainly due to higher expenses and investment losses. Notably, net foreign exchange loss of RM2.83 million was recorded in the current quarter. Quarterly revenue, however, climbed by 3.13% to RM144.51 million against RM140.13 million on the back of lower revenue contribution from its Malaysian and Indonesian operations. Meanwhile, the group also declared its first interim dividend of five sen per share, to be paid on Jan 31, 2024. United Malacca's 2Q net profit falls 13% to RM13.72 mil, declares five sen dividend
Majuperak Holdings Bhd is disposing of 2.01 acres of land in Ipoh to a wholly-owned unit of the Perak State Agriculture Development Corporation (PPPNP) for RM18.4 million as part of its business regularization plan. Majuperak, a 51.41%-owned subsidiary of the Perak State Development Corp, said its wholly-owned subsidiary, Syarikat Majuperak Bhd, is selling the property to Ladang Lekir Sdn Bhd, a wholly-owned subsidiary of Perak Agro Oil Palm Sdn Bhd, which in turn is a wholly-owned unit of PPPNP. The disposal will enable the group to unlock the land's value, the group said in a bourse filing on Monday, adding that the proceeds will be used to settle debts and for day-to-day operations. Majuperak to sell land to state agriculture agency as part of business regularisation plan
Supermax Corp Bhd, which came under the spotlight recently as a strain within the Thai family resurfaced over the purchase of a private jet, has announced a new chief executive and senior executive director, Tan Chee Keong, also known as CK Tan, who is the nephew of both Supermax's co-founders Datuk Seri Stanley Thai Kim Sim and his wife Datuk Wira Cheryl Tan Bee Geok. Chee Keong's appointment is part of a boardroom restructure to drive synergy across the group's operations in both Malaysia and the US. Supermax names founders' nephew CK Tan as CEO in board reshuffle