KUALA LUMPUR (June 9): Based on corporate announcements and news flow today, stocks in focus on Tuesday (June 13) may include: Alliance, UMW-OG, Astro, Mercury Industries, Pentamaster, Pasukhas, Permaju, Vivocom, MAHB, JF Tech, IHH, Sam Engineering and FGV.
Alliance Investment Bank Bhd has received Bank Negara Malaysia's (BNM) nod for its proposed corporate reorganisation exercise, which will see it assuming the listing status of its parent Alliance Financial Group Bhd (AFG).
The corporate reorganisation also involves the shareholders of AFG exchanging their existing AFG shares for Alliance Bank’s shares on a 1-for-1 basis, where their number of shares held and percentage shareholdings in AFG will be the same in Alliance Bank.
UMW Oil & Gas Corp Bhd received an undertaking and subscription letter from its 45.5% shareholder Permodalan Nasional Bhd (PNB) for its massive 14-for-five rights issue, which seeks to raise RM1.81 billion.
PNB will fully subscribe and underwrite the rights issue — but shares subscribed which will result in its shareholding rising above 65% will however be converted into Islamic redeemable convertible preference shares (RCPS-i) instead.
Astro Malaysia Holdings Bhd’s wholly-owned subsidiary Measat Broadcast Network Systems Sdn Bhd (MBNS) has received the Securities Commission Malaysia's (SC) nod to set up a RM3 billion medium term notes programme.
MBNS is setting a 15-year tenure for the programme, which has CIMB Investment Bank Bhd and RHB Investment Bank Bhd as its joint principal advisers and lead arrangers.
Mercury Industries Bhd is paying RM7 million cash to acquire construction materials firm Andaman Marketing Sdn Bhd (AMSB) to expand its revenue stream and complement Mercury Industries’ only remaining business — its construction subsidiary Paramount Bounty Sdn Bhd.
AMSB has a net asset of RM3.9 million, and the firm has given a profit guarantee of RM1 million per year for the next three financial years from Dec 31, 2018 (FY18) to FY20. It made RM1.42 million in 9MFY17.
Pentamaster Corp Bhd has acquired the remaining 40% shareholding in its subsidiary Pentamaster Instrumentation Sdn Bhd (PISB) for RM6 million or RM50 per share.
With the acquisition, PISB, a manufacturer of automated testing equipment and test and measurement systems for the electrical and electronics industry, has become a wholly-owned subsidiary of Pentamaster.
Pasukhas Group Bhd's wholly-owned subsidiary Bungar Majujaya Sdn Bhd has entered into a joint venture agreement with a foundation, Yayasan Veteran Angkatan Tentera Malaysia, to develop office towers on a 1.27-acre piece of state leasehold land in Kuala Lumpur.
Under the deal, Pasukhas, using internal funds and borrowings, will pay RM15.45 million for the land premium and RM2 million cash to its partner. The foundation will also be entitled to 72,000 sq ft of partial office space and function rooms in the development.
Permaju Industries Bhd’s 70%-owned subsidiary Hardie Development Sdn Bhd has entered into a second supplemental agreement with Mydin Mohamed Holdings Bhd to make changes to the design and layout of the hypermarket it intends to construct in Menggatal, Kota Kinabalu, Sabah.
The financing and construction of the hypermarket — to be completed within 30 months from the date of approval for the commencement of work — will be funded by internal funds and bank borrowings.
Vivocom International Holdings Bhd has terminated an RM240.42 million contract awarded to it by Coneff Corp Sdn Bhd due to non-fulfilment of certain contractual obligations.
The contract, which follows a letter of award from Coneff in January 2016, was for Vivocom’s subsidiary to undertake construction works for Phase 3B of the Desa Tasik project in Sungai Besi.
Malaysia Airports Holdings Bhd oversaw 10.61 million flyers in all its operations in May, up 6.3% from 9.98 million in May 2016. They comprise 5.77 million local flyers and 4.84 million international flyers.
Passenger count in Malaysia increased by 8.5% year-on-year in May to 7.92 million from 7.3 million last year. Regionally, MAHB posted positive growth in all regions where it operates, save for Africa and Middle East.
JF Technology Bhd, whose share price has surged over 100% in the past month, has been issued with an unusual market activity query by Bursa Malaysia today.
The company however said it is unaware of the reason behind the recent spike. Year-to-date, the stock has leapt four times from the low of 45 sen on Jan 3, 2017.
IHH Healthcare Bhd and its strategic partner in China, Taikang Insurance Group, today broke ground for the 450-bed Gleneagles Shanghai Hospital, to be built on a 35,754 sq m, 50-year leasehold site.
The hospital — IHH’s second in China and Hong Kong this year — is set to open in 2020 and is expected to require 1.36 billion renminbi of capital expenditure.
Sam Engineering & Equipment (M) Bhd has declared a first interim dividend of 10.28 sen per share and a special dividend of 6.95 sen per share for the financial year ended March 31, 2017 (FY17).
This came despite a 30.9% decline in net profit to RM43.61 million in FY17, from RM63.09 million in FY16. Revenue fell 13.3% to RM537.4 million, from RM620.05 million, on lower contribution from the equipment manufacturing segment due to weaker demand from customers.
The Malaysian Anti-Corruption Commission (MACC) will be recording statements from several witnesses in connection with its investigation into Felda Global Ventures Holdings Bhd (FGV), Bernama reported.
They will include chairman Tan Sri Mohd Isa Abdul Samad and senior members of the management team. MACC had seized documents from the FGV’s headquarters yesterday, and had recorded a statement from CEO Datuk Zakaria Arshad the day before.