KUALA LUMPUR (August 11): Here is a brief overview of some corporate announcements and news feed from Thursday August 11, including KPower Bhd, Greatech Technology Bhd, Tomypak Holdings Bhd, Pentamaster Corp Bhd, RCE Capital Bhd, MGB Bhd, Kejuruteraan Asastera Bhd, Pasukhas Group Bhd, Malaysia Pacific Corp Bhd and D’nonce Technology Bhd.
KPower Bhd has secured a four-year extension to its power purchase agreement with Tenaga Nasional Bhd for the development of a 50 megawatt solar photovoltaic power plant in Pekan, Pahang. The extension of the term from 21 years to 25 years was informed by the Energy Commission in a letter addressed to the 95% subsidiary of the renewable energy group PKNP KPower Suria Sdn Bhd.
Greatech Technology Bhd has entered into a memorandum of understanding relating to the proposed acquisition of a 60% stake in the Irish automation specialist Kaon Automation Ltd.
Tomypak Holdings Bhd offered to acquire a Johor-based packaging manufacturer for RM120 million to boost its packaging manufacturing capacity which was affected by a fire. The flexible packaging manufacturer announced that it had signed a memorandum of understanding to buy a 59.3% stake in EB Packaging Sdn Bhd from Siow Chew Kiong, Teo Kee Lin, Hoo Jik Heng and Teo Peng Hong, and another memorandum agreement with RMCP Plastics Holdings Sdn Bhd to purchase the remaining 40.7% stake.
Pentamaster Corp BhdNet profit for the second quarter ended June 30, 2022 increased by 7.05% to RM19.2 million from RM17.94 million a year earlier, supported by higher revenues. Quarterly revenue increased by 15.84% from RM130.65 million to RM151.34 million, driven by increased contribution from its Automated Test Equipment and Automation Solutions segments factory. For the cumulative six-month period, net profit increased by 16.44% to RM39.6 million from RM34.01 million for the previous January-June period. Half-year revenue increased by 20.97% to RM297.37 million from RM245.81 million.
RCE Capital BhdNet profit fell 8.93% to RM32.23 million for the first quarter ended June 30, 2022 from RM35.39 million a year earlier due to higher provisions for impairment of receivables . Revenue was almost flat at RM77.66 million compared to RM78.04 million in the first quarter of the previous year.
MGB Bhd won another housing contract in Dengkil, Selangor from a unit of its major shareholder LBS Bina Group Bhd. The latest contract, worth RM172.34 million, is for the development of two 24-storey blocks of affordable service apartments.
Kejuruteraan Asastera Bhd has been awarded a Letter of Intent for a RM16.7 million sub-contract to undertake electrical service installation works for the proposed 44-storey Bon Kiara condominium project in Mont Kiara. The engineering and energy solutions provider has secured the Letter of Intent from Land Marker Sdn Bhd, a subsidiary of Bon Estates Sdn Bhd.
Pasukhas Group Bhd has been awarded a contract to undertake concrete substructure works for the main building of the Dexcom Malaysia Factory 3 project in Penang. The contract worth RM7.08 million was awarded by Exyte Malaysia Sdn Bhd.
Malaysia Pacific Corp Bhd said trading in its shares will be suspended from August 19, following Bursa Securities’ rejection of its request for a further extension of the deadline to submit its regularization plan. The property group added that it faces delisting on August 23 unless it files a delisting appeal by August 18. The Practice Note 17 group had until June 30 to submit its regularization plan to Bursa.
D’nonce Technology Bhd buys a loss-making sticker label manufacturing unit from Komarkcorp Bhd for RM9.1 million to diversify into the label business. The group has also offered to undertake a one-for-one rights issue, with a five-year free tenure for each rights share, raising up to RM43.47 million based on an indicative issue price. of 10 sen per rights share.