Friday 29 Mar 2024
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KUALA LUMPUR (Dec 19): Based on corporate announcements and news flow today, companies that may be in focus on Thursday (Dec 20) may include: Berjaya Corp Bhd (BCorp), Berjaya Land Bhd (BLand), Berjaya Media Bhd (BMedia), 7-Eleven Holdings Bhd, Bursa Malaysia Bhd, Malaysian Resources Corporation Bhd (MRCB), Malaysia Airports Holdings Bhd (MAHB), AirAsia Group Bhd, Tenaga Nasional Bhd (TNB), Mclean Technologies Bhd, JAG Bhd, Chuan Huat Resources Bhd and George Kent (M) Bhd.

Berjaya Corp Bhd (BCorp) founder and executive chairman Tan Sri Vincent Tan Chee Yioun has announced a slew of corporate exercises, including the potential listing of U Mobile Sdn Bhd by 2020 in the local bourse, as well as floating his hotel entity on the Singapore Exchange (SGX). 

Tan plans to carve out the group’s hotel business from Berjaya Land Bhd (BLand) and list it on the SGX, while delisting BLand. He also plans to sell his shareholding in 7-Eleven Holdings Bhd to BCorp.

Additionally, Tan said the group is in talks to sell its Four Seasons Hotel and Hotel Residences Kyoto (Four Seasons Kyoto) in Japan, which he expected to have a disposal gain of up to US$400 million. 

On Berjaya Media Bhd (BMedia), Tan said he is identifying one of his profitable privately-owned businesses to be injected into the entity. 

Come Feb 11, 2019, Datuk Muhamad Umar Swift will assume the role of chief executive officer (CEO) at Bursa Malaysia Bhd as current CEO Datuk Seri Tajuddin Atan retires early. 

Muhamad Umar, who is an Australian national, is currently the managing director and CEO of MAA Group Bhd. It is a post he has held since September 2006.

Malaysian Resources Corporation Bhd (MRCB) has received RM1.07 billion from the Employees Provident Fund (EPF) for its 80% subscription in Bukit Jalil Sentral Property Sdn Bhd (BJSP), the special purpose joint venture company undertaking the development of Bukit Jalil Sentral.

Bukit Jalil Sentral, which measures 76.14 acres, is a mixed development project with a GDV of RM21 billion. The 80% equity interest in BJSP will reside with the EPF’s unit Tanjung Wibawa Sdn Bhd, and MRCB’s subsidiary Rukun Juang Sdn Bhd will retain a 20% equity interest. 

AirAsia Group Bhd has called on regulators and policy makers to reject and rescind the decision by Malaysia Airports Holdings Bhd (MAHB) to raise the passenger service charge (PSC) to RM73 from RM50 previously. 

AirAsia Malaysia chief executive officer Riad Asmat said the overall tourism sector, one of Malaysia's biggest revenue earners, and the interests of millions of Malaysians who have been able to fly due to the low fares pioneered by AirAsia, are being threatened by MAHB's price hikes. 

"The additional RM23 to be collected will amount to more than RM100 million a year that will go straight to MAHB's bottom line rather than to the government. MAHB will continue to be among the most profitable Malaysian companies for many years to come. But this will come at a cost to the wider Malaysian economy and at the expense of engines of growth such as AirAsia and AirAsia X," Riad said.

Tenaga Nasional Bhd (TNB) will announce the details of its plan to enter the broadband services market in January and was in the process of communicating its plan to the relevant ministries, said President and Chief Executive Officer Datuk Seri Ir Azman Mohd. 

It plans to enter the broadband market using its existing fibre optic network across the nation. It is currently running a pilot project in Melaka. 

Mclean Technologies Bhd said its units have been ordered by a court to pay RM3.23 million in damages to Petronas Gas Bhd for unlawful entry into the latter’s land. 

DWZ Industries (Johor) Sdn Bhd and DWZ Industries Sdn Bhd, who were sued in 2016, were also ordered to pay interest at 5% per annum from the date of loss until full payment and costs totalling RM100,000. An injunction was also issued to the DWZ entities to bar them from entering the land, construct any piping or structure on it, and discharging any effluents there. 

Property developer JAG Bhd is buying a piece of freehold land in Klang for RM14.4 million for future development. But the exact use of the land, measuring 16,720 square metres, has yet to be determined. 

Chuan Huat Resources Bhd is seeking to clinch a deal to supply building materials worth up to RM200 million for a project in Kuala Lumpur with a gross development value of over RM2.5 billion. 

Its unit has signed a memorandum of understanding (MoU) with Akisama Construction Sdn Bhd (ACSB) and Impianika Development Sdn Bhd (IDSB) to serve the above purpose. Under the MoU, IDSB has also agreed to sell to CHIM, six units of shop offices for RM15.59 million. 

George Kent (M) Bhd's net profit for the third quarter ended Oct 31, 2018 (3QFY18) fell 28.34% year-on-year to RM20.55 million from RM28.68 million a year earlier, on the back of lower segment profit. 

Revenue for the quarter slid 18.5% to RM103.55 million from RM127.09 million a year ago, due to completion of a few projects in 2017. 

George Kent declared a second interim dividend of 1.5 sen per share, payable on Jan 29, 2019.

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