Sapura Energy, Axiata, RHB, VS Industry, Kein Hing, BCorp, BLand, Telekom Malaysia, Seacera, Mlabs, Bintai Kinden, Jerasia, Alam Maritim, AME Elite Consortium and Genting

0

KUALA LUMPUR (March 25): Here is a brief look at some of the corporate announcements and news feed from Friday March 25 regarding Sapura Energy Bhd, Axiata Group Bhd, RHB Bank Bhd, VS Industry Bhd, Kein Hing International Bhd, Berjaya Corp Bhd, Berjaya Land Bhd, Telekom Malaysia Bhd, Seacera Group Bhd, Mlabs Systems Bhd, Bintai Kinden Corp Bhd, Jerasia Capital Bhd, Alam Maritim Resources Bhd, AME Elite Consortium Bhd and Genting Bhd.

State oil company Petroliam Nasional Bhd (Petronas) has denied reports and speculation of “discussions with the government on a proposal to take a significant stake” in financially troubled countries. Sapura Energy Bhd. Petronas’ statement came after former Prime Minister Datuk Seri Najib Razak wrote on Facebook on March 20, urging the government to protect Sapura Energy from bankruptcy by providing loans or causing Petronas or Khazanah Nasional Bhd takes over ownership of the group from Permodalan Nasional Bhd.

Malaysia’s largest mobile network operator and fourth-largest bank are among the top contenders to secure one of the country’s coveted five digital banking licenses, which could unlock a share of the booming trade market electronic. Among the favorites is a consortium made up of a mobile network operator Axiata Group Bhd and RHB Bank Bhd.

VS Industry Bhd saw its net profit for the second quarter ended 31 January 2022 (2QFY22) decrease by 30% to RM44.49 million from RM63.79 million in the same period last year, supported by lower printed circuit board assembly orders from key customers in the current quarter, coupled with a global supply chain disruption that affected component sourcing. The electronics manufacturing services group, however, said its quarterly revenue edged up 1.47% to RM1.01 billion from RM999.31 million, fueled by a higher contribution from its Malaysian operations. For the full six-month period ended Jan. 31, the group’s net profit fell 35.71% to RM83.88 million from RM130.47 million a year earlier. Revenue slightly decreased by 0.2% to RM1.98 billion from RM1.99 billion previously.

Kein Hing International BhdNet profit jumped 56.12% to RM6.33 million in the third quarter ended 31 January 2022 (3QFY22), from RM4.05 million a year ago on the back of its revenue highest ever and a one-time gain resulting from the waiver of a loan granted to a subsidiary by a non-controlling interest in the amount of RM1.31 million. Revenue for the quarter increased by 21.82% to RM80.66 million, from RM66.21 million a year earlier, due to higher automotive industry orders in Malaysia, as well as an increase in demand for parts from household appliance and printer manufacturers in Vietnam. For the cumulative nine months ended 31 January 2022 (9MFY22), its net profit increased by 19.55% to RM10.6 million from RM8.87 million a year earlier. Revenue also increased by 8.11% to RM201.54 million from RM186.43 million in the same period.

Berjaya Corp BhdBerjaya subsidiary Enviro Holdings Sdn Bhd (BEnviro) is partnering with Qhazanah Sabah Bhd (QSB), the strategic investment arm of the Sabah State Government, to develop and upgrade waste management facilities in Sabah. On Friday, BEnviro signed a memorandum of understanding with QSB to cooperate in the development and operation of integrated waste management projects using modern and advanced technologies.

Berjaya Terre Bhd is collaborating with Sabapak Eco Sdn Bhd to jointly develop a sustainable tourism destination in Sabah. The two sides on Friday signed a memorandum of understanding to that end, under which they will jointly formulate a comprehensive sustainable plan to develop and transform part of Gaya, Sapi and Bohey Dulang islands into a prime destination for ecotourism.

Telekom Malaysia Bhd (TM) on Friday denied all allegations and claims in a notice of arbitration issued by MYTV Broadcasting Sdn Bhd last month regarding a non-payment dispute for the supply of digital terrestrial television, broadcast infrastructure and facilities network. On Friday, TM also filed a counterclaim against MYTV for the following repairs. These are RM90.2 million for unpaid fees and RM5.54 million for late payment fees due and payable by MYTV to TM under the service agreement as of March 25, 2022.

Tile manufacturer-real estate developer Seacera Group Bhd is partnering with Ikhlas Al Dain Sdn Bhd, the indirect wholly owned unit of Mlabs Systems Bhd, to develop holiday villas in Kemaman, Terengganu which will have an estimated gross development value of RM156.46 million. Seacera on Friday entered into a joint venture (JV) agreement with Ikhlas through its wholly owned subsidiary, Seacera Builders Sdn Bhd. Ikhlas was granted sole and exclusive rights by Ribuan Bakat Sdn Bhd in August last year to develop several plots of the Malay Reserve in full ownership. Land totaling 30.17 acres owned by Ribuan Bakat.

Bintai Kinden Corp Bhd has formed a 51/49 joint venture with Petro Flanges & Fittings Sdn Bhd (PFF) to supply materials and equipment to the local and international oil and gas industry, including in the Middle East, through the PFF distribution channel . The two companies form the JV, Bintai Energy Sdn Bhd, to capitalize on the expected recovery of the oil and gas industry as capital investment increases at home and abroad in response to the global energy crisis and raw material.

Deficit Practice Note 17 (PN17) Company Jerasia Capital Bhd said on Friday that its executive vice president Datuk Yap Fung Kong and his daughter, executive director Debbie Yap May See, resigned for “personal reasons.” The resignations took effect a day early.

The voluntary resignation of Messrs. Al Jafree Salihin Kuzaimi PLT (Salihin) as auditor of Alam Maritim Resources Bhd was due to the limited number of partners registered with the Audit Oversight Council. The group noted that it was still in the process of appointing a new listener.

AME Elite Consortium Bhd has obtained approval from the Securities Commission of Malaysia for the proposed establishment and listing of an industrial real estate investment trust (AME REIT) in the main market of Bursa Malaysia. AME REIT will have an initial fund size of 520 million.

Genting Bhd, through Genting RMTN Bhd, issued medium-term notes (MTNs) through two RM500 million tranches under its RM10 billion MTN program. The two tranches include a five-year note in the amount of RM400 million with a coupon rate of 5.19%, and a RM100 million note with a tenor of 10 years and a coupon rate of 5.62%. Proceeds from these MTNs will be used by the group for operating expenses, capital expenditures and working capital requirements.

Share.

Comments are closed.