Tuesday 19 Mar 2024
By
main news image

KUALA LUMPUR (April 12): Based on corporate announcements and news flow today, companies in focus on Friday (April 13) may include: Dolphin International Bhd, MMS Ventures Bhd, Boustead Plantations Bhd, KLCCP Stapled Group, Carlsberg Brewery Malaysia Bhd, Rex Industry Bhd, Malayan Banking Bhd, Boustead Holdings Bhd, N2N Connect Bhd, Iskandar Waterfront City Bhd, Perak Transit Bhd, Destini Bhd, Malakoff Corp Bhd, DRB-Hicom Bhd, Pos Malaysia Bhd and Kerjaya Prospek Group Bhd.

Dolphin International Bhd has secured a RM1.3 million contract to supply, install and commission a clean air emission system, the Electrostatic Precipitator System (EPS) from Genting SDC Sdn Bhd (GSDC) for Genting Jambongan Oil Mill (GJOM) in Sabah.

MMS Ventures Bhd has obtained the green light from the Securities Commission Malaysia (SC) to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia.

Boustead Plantations Bhd, which is buying oil palm plantation land in Labuk and Sugut in Sabah, will increase the land's fresh fruit bunch yield to 17 tonnes a hectare over the next four years from 11 tonnes a hectare currently, and has allocated RM250 million as capital expenditure (capex) for that.

KLCCP Stapled Group (KLCCP), which comprises KLCC Property Holdings Bhd and KLCC Real Estate Investment Trust (REIT), said KLCC Holdings Sdn Bhd — its parent company — has formed a joint venture with a third party to develop its first transport-oriented development (TOD), comprising retail as well as office space and hotel.

Carlsberg Brewery Malaysia Bhd is keeping a close watch on the upcoming general election in case there are legislative changes post-polls that could impinge on its bottomline. The other “big” event this year on its calendar is the FIFA World Cup in mid-June.

Rex Industry Bhd said it has decided not to proceed with plans to raise RM20.83 million via rights with bonus issue after taking into consideration the current market conditions. Instead, it will consider funding its working capital and business investment/expansion plan(s) in the interim using internal funds and/or external borrowings.

Malayan Banking Bhd (Maybank) said it is confident of maintaining its strong financial performance this year, and is hopeful of achieving another record for the year ended Dec 31, 2018 (FY18).

For FY17, Maybank registered a record net profit of RM7.52 billion and rewarded its shareholders with a dividend of 55 sen per share, totalling RM5.89 billion.

Boustead Holdings Bhd expects normalised profit growth of about 20% for the financial year ending Dec 31, 2018 (FY18), driven by growth across most of its core business segments.

The group's pre-tax profit crossed the RM1 billion mark in FY17 at RM1.11 billion, boosted by RM555 million in proceeds from the disposal of plantation land. Excluding the extraordinary item, its normalised profit for FY17 stood at RM545 million.

N2N Connect Bhd is acquiring a 28% stake in Australia's first hybrid marketplace lender for A$2.8 million (RM8.33 million) cash. The target company uses the latest peer-to-peer lending technology in combination with traditional structured finance methods to fund high-yielding unsecured personal loans.

A unit of Iskandar Waterfront City Bhd (IWCity) is being sued by the Inland Revenue Board (IRB) for RM32.23 million in additional taxes and penalties. Its wholly-owned subsidiary Tebrau Bay Constructions Sdn Bhd (TBCSB) was served with a legal claim dated 15 March 2018 today for the amount, together with interest and costs.

Perak Transit Bhd announced that Australian banking group Macquarie Bank Ltd will not be subscribing for any more of its placement shares as it has issued a notice to terminate the conditional share subscription agreement it inked with the bank.

Destini Bhd has been awarded a two-year umbrella contract to undertake well abandonment integrated services for Petronas Carigali Sdn Bhd, which will start from March 29 this year till March 28, 2020 with a one-year optional extension.

Malakoff Corp Bhd has bagged an operation and maintenance (O&M) contract with a large scale solar photovoltaic power plant (LSS) in Kota Tinggi, Johor, with a capacity of 29MWac. The main scope of the O&M agreement, which is for a period of 21 years starting from December 2018, is to perform and provide services in relation to the operation, maintenance and repair of the solar plant.

Tycoon Tan Sri Syed Mokhtar Al-Bukhary appears to be putting in motion his succession plan at DRB-Hicom Bhd, with the appointment of his 24-year-old daughter Sharifah Sofia Syed Mokhtar Shah as non-independent and non-executive director of the diversified group effective tomorrow. Sharifah Sofia takes on the same role at Pos Malaysia Bhd, whose holding company is DRB-Hicom.

Meanwhile, DRB-Hicom appointed Datuk Mohammad Zainal Shaari as non-independent and non-executive chairman of the group, replacing Tan Sri Mohd Khamil Jamil who stepped down from the position on April 1. Mohammad Zainal has also been appointed to the same post at Pos Malaysia effective tomorrow.

Kerjaya Prospek Group Bhd has secured a contract worth RM357.3 million for main building works at the Bukit Bintang City Centre (BBCC) mixed development. The deal involves the construction of a block of eight-storey car park podium, a six-storey car park, and two towers (one 35 storeys and one 47 storeys), comprising a total of 666 service apartment units.

 

      Print
      Text Size
      Share