Kimlun, Scientex, MyEG, Gabungan AQRS, Barakah, DNeX, GHL, MRCB, Tan Chong, myNEWS and Hap Seng

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KUALA LUMPUR (June 20): Based on corporate announcements and news flow today, companies that may be in focus on Thursday (June 21) may include the following: Kimlun Corp Bhd, Scientex Bhd, MyEG Services Bhd, Gabungan AQRS Bhd, Barakah Offshore Petroleum Bhd, Dagang NeXchange Bhd, GHL Systems Bhd, Malaysian Resources Corp Bhd, Tan Chong Motor Holdings Bhd, myNEWS Holdings Bhd and Hap Seng Consolidated Bhd.

Kimlun Corp Bhd has bagged a RM53.48 million contract from Nusajaya Rise Sdn Bhd, a subsidiary of UEM Sunrise Bhd, to undertake earthworks, road and drainage and other ancillary site works for the Gerbang Nusajaya development in Tanjung Kupang and Pulai, Johor.

In a filing with Bursa Malaysia today, Kimlun said its wholly-owned subsidiary Kimlun Sdn Bhd has accepted the award from Nusajaya Rise for the proposed project. The construction work is expected to be completed by end of April 2019.

Scientex Bhd has posted an 8.06% decline in net profit to RM61.14 million for the third financial quarter ended April 30, 2018 (3QFY18) from RM66.5 million a year ago, owing to lower contribution from the group's property division as recently launched projects were still in the early stages of progress billings.

Quarterly revenue was also down 5.66% to RM600.18 million from RM636.15 million in 3QFY17.

The group has declared an interim dividend of 10 sen per share for the financial year ending July 31, 2018 (FY18), payable on July 13.

For the cumulative nine-month period, Scientex's net profit rose 9.67% to RM201.52 million versus RM183.75 million in the prior year. Cumulative revenue was up 7.77% to RM1.89 billion from RM1.76 billion.

MyEG Services Bhd's associate company has inked a preliminary agreement seeking to be a payment processor and payment gateway business enterprise for offshore transactions in the Philippines' Cagayan Special Economic Zone and Freeport.

The associate I-Pay MyEG Philippines Inc signed the Memorandum of Understanding (MoU) with the Cagayan Economic Zone Authority on Monday.

MyEG said the MoU was to allow IPMPI to register as a Financial Technology Solutions Business Enterprise licence applicant, to enable it to offer the said services.

Gabungan AQRS Bhd’s wholly-owned subsidiary Gabungan Strategik Sdn Bhd (GSSB) has secured a RM60.22 million sub-contract from Syarikat Muhibah Perniagaan Dan Pembinaan Sdn Bhd (SMPP) to carry out sub-structure, toll plaza building and motorcycle lane works on the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE).

The contract is expected to start on June 25, 2018 and the completion date is Feb 24, 2020.

Felda Investment Corp Sdn Bhd (FIC), a unit of the government-owned Federal Land Development Authority (Felda), has ceased to be a substantial shareholder in Barakah Offshore Petroleum Bhd.

FIC had on Monday disposed of 4.5 million shares on the open market.

Dagang NeXchange Bhd’s (DNeX) associate Ping Petroleum Ltd (Ping) has been awarded two licences that allow for development and production activities to be carried out on three potential greenfield oil and gas blocks in the UK Central North Sea.

DNeX said the approval was given by UK’s Oil and Gas Authority to Ping’s wholly-owned unit Ping Petroleum UK Ltd (Ping UK), which partnered with two established UK oil and gas companies namely Summit Petroleum Ltd and Azinor Catalyst Ltd on these licences.

GHL Systems Bhd, via its wholly-owned unit GHL (Thailand) Co Ltd, has secured a contract to supply Krung Thai Bank PCL (KTB) with up to 38,000 electronic data capture (EDC) terminals. The value of the contract was not disclosed.

GHL said these EDC terminals are expected to be deployed throughout KTB's vast network of merchants to enable the acceptance of electronic payments in the form of credit and debit cards (including Thai QR Payment) as well as government related payment services.

GHL said the terminals will be deployed in stages over the coming months and a total of 10,000 EDC terminals have been successfully delivered to KTB as at today.

Malaysian Resources Corp Bhd (MRCB) has appointed Mohd Imran Mohamad Salim as the new group managing director, who will succeed his father Tan Sri Mohamad Salim Fateh Din, on July 2.

The appointment will see Mohd Imran being redesignated from his current position as executive director, while Mohamad Salim, who has been helming MRCB for nearly five years since Sept 2, 2013, will retire.

Tan Chong Motor Holdings Bhd’s wholly-owned subsidiary TC Trucks Sales Sdn Bhd has been appointed sole and exclusive distributor, assembler and after-sales service provider of King Long coaches and buses in Malaysia.

TC Trucks Sales is expected to start sales of King Long products in the fourth quarter of this year. The initial term of the agreement will be for five years and may be extended subject to the parties' mutual written agreement.

myNEWS Holdings Bhd posted a 10.13% improvement in net profit for the second financial quarter ended April 30, 2018 (2QFY18) to RM6.83 million, on increase in stores, better products mix and higher other operational income.

Quarterly revenue also grew 18.83% to RM94.18 million compared with RM79.25 million in 2QFY17.

Hap Seng Condolidated Bhd’s wholly-owned subsidiary Hap Seng Properties Development Sdn Bhd (HSPD) has entered into a sale and purchase agreement with Goldcoin Ventures Sdn Bhd for the disposal of two parcel of lands measuring 59.24 acres in Tawau, Sabah for a combined RM90.13 million.

“The proposed disposals enable HSPD to realise an attractive capital gain and the proceeds will be used to reduce bank borrowings and/or to contribute to the working capital of the group,” Hap Seng said.