KUALA LUMPUR (Sept 26): Based on corporate announcements and news flow today, stocks in focus tomorrow (Sept 27) may include: Damansara Realty, JF Technology, PRG Holdings, Permaju Industries, Green Packet, G3 Global, Genting, Vivocom, Xin Hwa, Selangor Properties, Superlon and MSM.
Damansara Realty Bhd has decided to revise the exercise price of its proposed three-year bonus warrants to 58 sen apiece, from 82 sen previously.
It has fixed the new exercise price for the warrants, first proposed in April 15 last year, after taking into consideration, among others, the "historical volatility of the underlying Damansara Realty Bhd shares" since the bonus issue was proposed.
JF Technology Bhd has proposed a two-for-three bonus issue at an entitlement date to be determined later.
JF Tech said the bonus issue would be wholly capitalised from its share premium account at 10 sen per bonus share, being reference to the par value of its shares.
PRG Holdings Bhd said the Stock Exchange of Hong Kong Ltd has given its nod to the group to list its manufacturing business Furniweb Holdings Ltd on the exchange's Growth Enterprise Market.
A formal and final approval will be granted by the exchange before the trading in the new shares of nominal value of 10 HK cents each in Furniweb commences. Proceeds raised from the proposed listing will be accrue entirely to Furniweb.
Credit Suisse Group AG through its unit Credit Suisse Securities (Europe) Ltd has emerged as a substantial shareholder in Permaju Industries Bhd, having purchased 9.68 million shares or a 5.17% stake in the company on Sept 21.
The Sabah-based property developer is controlled by Datuk Chai Kin Loong, Tan Sri Chai Kin Kong and Chai Kim Chong, who collectively own some 18% of the company. Its automotive division is involved in the distribution of Volkswagen and Ford franchises.
Communications technology company Green Packet Bhd said it has acquired 41.25 million provisional allotment rights under the rights issue by G3 Global Bhd — previously Yen Global Bhd — for RM4.125 million earlier this month.
On Sept 25, Green Packet — whose founder is also a director in G3 Global — also subscribed to its additional entitlement under the rights issue at 20 sen per G3 Global shares for RM8.25 million, bringing the total consideration for the rights issue to RM12.38 million and its effective stake in G3 Global to 32% from 22% previously.
Genting Group is selling its Kensington, London-based casino Maxims for at least £40 million (RM227 million), on speculation that Maxims's location might have caused the casino to lose business, Casinopedia reported.
The news portal reported that Genting has brought in property consultancy CBRE to handle the sale of the casino, adding that Genting had said in a statement earlier this year that it might be prepared to listen to offers for Maxims.
Vivocom International Holdings Bhd has bagged a RM75 million construction contract for a mixed development in Terengganu from property developer Udaran Sdn Bhd.
The group will undertake the 36-month construction of two blocks of 372 units of serviced apartments and nine units of shoplots for Lembaga Tabung Amanah Warisan Negeri Terengganu in Kampung Ladang Tanjung.
Xin Hwa Holdings Bhd's wholly-owned unit Xin Hwa Trading & Transport Sdn Bhd has received a letter of award from BD Cranetech Pte Ltd for the transportation of precast element for the construction of rail and bus depot and reception tunnels in Singapore.
The value of the four-year contract, spanning Nov 2017 to Oct 2021, is dependent on total tonnage of delivery and the type of transport trailer used, but Xin Hwa has estimated the total contract price to be around S$6.9 million (RM21.5 million).
Selangor Properties Bhd's net profit for the third quarter ended July 31 slumped 54.6% to RM19.51 million, from RM42.98 million a year earlier, no thanks to lower contribution from its business units. Revenue, however, rose 22.5% to RM31.9 million from RM26 million.
Cumulative net profit for the first nine months of the year increased over seven-fold to RM72.16 million, from RM9.96 million in the same period last year. Revenue rose 10.7% to RM94.94 million from RM85.79 million.
Superlon Holdings Bhd's net profit for the first quarter ended July 31 dipped 41.52% to RM3.57 million, from RM6.05 million last year, dragged by lower sales and higher material costs in its manufacturing division.
Quarterly revenue, however, rose 2.66% to RM26.33 million from RM25.63 million, supported by higher sales of copper pipes under its trading division.
MSM Malaysia Holdings Bhd has appointed Datuk Wira Azhar Abdul Hamid as chairman after the post was left vacant upon Tan Sri Mohd Isa Abdul Samad's resignation in June.
On Sept 8, Azhar, 56, was appointed as chairman of Felda Global Ventures Holdings Bhd (FGV), after Isa gave up the same position in June, following a controversial spat with its then-CEO Datuk Zakaria Arshad.