Faber, IFCA MSC, Petra Energy, Pasukhas, REDtone, Brahim’s and Sino Hua-An

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KUALA LUMPUR (March 11): Based on corporate announcements and news flow today, the companies that may be in focus tomorrow (Thursday, Mar 12) could include: Faber Group Bhd, IFCA MSC Bhd, Petra Energy Bhd, Pasukhas Group, REDtone International Bhd, Brahim’s Holdings Bhd and Sino Hua-An International Bhd.

Faber Group Bhd announced that its wholly-owned subsidiary Faber Mediserve Sdn Bhd (FMS) has entered into a new concession agreement with the government for the provision of hospital support services (HSS).

According to its filing with Bursa Malaysia, the agreement entails the provision of HSS at contract hospitals in the four states, namely Perak, Pulau Pinang, Kedah and Perlis.

The HSS includes the development of an asset and services information system and the implementation of the sustainability programme for a period of 10 years.

Meanwhile, its associate companies, One Medicare Sdn Bhd and Sedafiat Sdn Bhd, have also entered into new concession agreements for the provision of HSS at contract hospitals in Sabah and Sarawak respectively.

Faber share price closed six sen or 1.91% higher at RM3.20, with a market capitalisation of RM2.55 billion.

IFCA MSC Bhd bagged a property management contract from Rangkaian Hotel Seri Malaysia Sdn Bhd for the supply of a property management solution worth RM3.39 million, excluding the annual maintenance fee.

In a filing with Bursa Malaysia, IFCA (fundamental: 3; valuation: 1.5) said the contract is for 22 sites located in Malaysia, and is expected to have positive contribution to the earnings per share and net assets per share of IFCA for the financial year ending 2015.

Petra Energy Bhd’s wholly-owned unit, Petra Resources Sdn Bhd, has been awarded the topside maintenance execution services for the Gumusut Kakap floating production system, by Sabah Shell Petroleum Company Ltd.

Petra Energy (fundamental: 0.8; valuation: 2.4) will provide contract management, site execution and offshore maintenance crew to undertake maintenance activities for the Gumusut Kakap floating production system.

The topside maintenance services contract is an addition to the offshore services contract awarded in 2012 by Shell, for the Gumusut Kakap project. It was the first deep-water project for Petra Energy.

The contract has no firm value, as it is on a call-out basis, where work orders will be issued at the discretion of the client, based on standard schedule rates.

The contract is for duration of 14 months, commencing on April 1 ending on May 31, 2016.

Pasukhas Group Bhd has entered into a memorandum of understanding (MOU) with Singapore-based Wireless Network Investment Pte Ltd (WNIPL) to commence discussions for a proposed collaboration for a property development project in Greater Jakarta, Indonesia.

According to Pasukhas’ (fundamental: 1.15; valuation: 0) filing with the exchange, the MOU will be valid for a period of three months, or a longer period as the parties may agree upon.

REDtone International Bhd has tied-up with IOI Properties Group Bhd (IOIPG) to provide residents of The Platino apartments in Iskandar Malaysia, Johor Bahru, with high-speed broadband connectivity, on an exclusive basis for two years.

The agreement was signed between Trilink Pyramid Sdn Bhd — a unit of IOIPG (fundamental: 1.35; valuation: 1.8), and REDtone Marketing Sdn Bhd — a subsidiary of REDtone (fundamental: 2.3; valuation: 0.3). The Platino’s 711 units of serviced apartments were scheduled to be completed at the end of this year.

TCRS Restaurants Sdn Bhd, the operator of The Chicken Rice Shop, which is said to be in negotiation with Brahim’s Holdings Bhd, said it is open to discussion with any party interested in acquiring a stake in TCRS' business, Bernama reports.

"We are very humbled that people see value in us. It is indeed flattering," Bernama reported TCRS CEO Wong Kah Lin as saying at TCRS's 15th anniversary celebration.

She was commenting on news reports that Brahim’s (fundamental: 0.35; valuation: 1.20), the in-flight meal provider, was keen to acquire a stake in TCRS.

Brahim's, in a filing with Bursa Malaysia on Monday (March 9), confirmed The Edge Weekly's report on March 7, that it was in negotiation to acquire a local food-and-beverage company.

It did not name the company, but The Edge had reported that Brahim's was in talks to acquire a stake in TCRS.

Sino Hua-An International Bhd’s(fundamental:1.85; valuation: 1.2) subsidiary, Linyi Yehua Coking Co. Ltd, has stopped its production temporarily to comply with the notification received from its local authorities, pending a compliance inspection.

The local Ministry of Environmental Protection (MOEP) of China has recently initiated a more stringent scrutiny onto heavy industries, where all steel mills and coke producers have been instructed to stop production temporarily, until such time when the assessment by MOEP can be concluded and appropriate clearance is given by the local government.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)