Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 18): Based on corporate announcements and news flow today, companies that may be in focus on Wednesday (Dec 19) may include: FGV Holdings Bhd, Telekom Malaysia Bhd, Malayan Banking Bhd, CIMB Group Holdings Bhd, Malaysia Airports Holdings Bhd, Transocean Holdings Bhd, Crescendo Corp Bhd, Comfort Gloves Bhd, Lotte Chemical Titan Holding Bhd and Prestariang Bhd. 

FGV Holdings Bhd (FGV) has signed a MoU with Hong Kong-listed China Machinery Engineering Corporation (CMEC) to explore the feasibility of a joint venture for the establishment of paper pulp production facilities.

FGV’s interim group president and chief executive officer Datuk Wira Azhar Abdul Hamid said the group hopes to explore the opportunity to integrate operations of its existing mills with CMEC’s engineering expertise, to establish the paper pulp production facilities with an initial capacity of 50,000 tonne per annum for the first phase.

Telekom Malaysia Bhd (TM) said the company has to date upgraded close to 60% out of over 340,000 Streamyx customers' high-speed Internet packages in UniFi-coverage areas to UniFi at the same price of their current plans, to widen the nation's broadband coverage.

Malayan Banking Bhd (Maybank) is expecting a 20% jump in Amanah Saham Nasional Bhd (ASNB) transactions through the bank's platforms in the next one year, with the introduction of two new online services.

The first service facilitates investments in ASNB units via the online banking portal Maybank2u in real time, while the second is for investing in ASNB via ATMs, also available in real time.

CIMB Group Holdings Bhd has applied for an injunction to restrain PLUS Malaysia Bhd from using the PLUS Radio Frequency Identification (RFID) system for toll transactions on all Malaysian highway systems.

It is seeking to prevent PLUS from carrying out any sales or marketing activities to secure customers from purchasing or using the PLUS RFID System. Meanwhile, it is also seeking to prevent PLUS from interfering in the sales and promotion conducted by Touch 'N Go Sdn Bhd for the Touch 'N Go RFID system.

In another development, CIMB said it expects to record a gain on disposal of RM200 million from the proposed transfer of its stockbroking business to Jupiter Securities Sdn Bhd.

CIMB Group Sdn Bhd, China Galaxy International Financial Holdings Ltd and CGS-CIMB Holdings Sdn Bhd today signed a share subscription agreement for the subscription of new shares in CGS-CIMB.

Malaysia Airports Holdings Bhd (MAHB) expects the passenger movement at KLIA and klia2 to surge by 12% and 21% respectively this month, which is considered a super-peak travel period.

The airport operator projected a total of 6.9 million passengers travelling via the two terminals during the year-end school holidays and Christmas festive season.

Transocean Holdings Bhd today signed a heads of agreement with certain shareholders of logistics company Swift Haulage Sdn Bhd with a view to acquire the entire equity interest in Swift for not less than RM750 million.

Transocean's share price hit limit up on the news. The counter was among Bursa Malaysia's top gainers, surging as much as 30 sen to 96.5 sen, to close at 96 sen.

Crescendo Corp Bhd is buying a piece of land in Johor Bahru for RM13 million to develop apartments for rent by Crescendo International College students.

“The acquisition is expected to support and strengthen the group’s position in the education business,” Crescendo said.

“It is expected to contribute and supplement the long-term profitability of the core business activities of the group, which are in property development and building construction,” the group added.

Comfort Gloves Bhd’s net profit shrunk 40.6% to RM7.07 million in the third financial quarter ended Oct 31, 2018 from RM11.90 million a year ago. The sharp fall in earnings was due to the one-off logistic cost of RM5.4 million and higher tax expenses in the absence of tax allowance.

Quarterly revenue, however, grew 19.2% to RM126.95 million from RM106.52 million from a year ago, thanks to an increase in sales and strengthening of the US dollar against the ringgit.  

For the cumulative nine-month period, the group’s net profit also fell 40.5% to RM18.51 million, from RM31.11 million a year ago. Meanwhile, revenue went up 9.06% to RM343.34 million, from RM314.82 million previously.

The Securities Commission Malaysia (SC) is maintaining its decision to reprimand and penalise Lotte Chemical Titan Holding Bhd, its two executive directors Ernst & Young and Maybank Investment Bank Bhd, for not informing the SC on material developments before LCTitan's listing in 2017.

The SC said it maintained its decision after dismissing review applications by LCTitan and other relevant parties. The penalties imposed amounted to RM2.19 million in total.

The major shareholder of Prestariang Bhd, Dr Abu Hasan Ismail, has disposed of entire his stake and has ceased to be a substantial shareholder in the company. 

Abu Hassan, who is the group’s president and chief executive officer,  sold 117.20 million shares or 24.30% stake on Dec 14. He was forced to sell the shares via a direct business transaction to rectify a personal margin position.

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