Thursday 28 Mar 2024
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KUALA LUMPUR (Aug 11): Here is a brief look at some corporate announcements and news flow on Thursday (Aug 11), which include KPower Bhd, Greatech Technology Bhd, Tomypak Holdings Bhd, Pentamaster Corp Bhd, RCE Capital Bhd, MGB Bhd, Kejuruteraan Asastera Bhd, Pasukhas Group Bhd, Malaysia Pacific Corp Bhd and D'nonce Technology Bhd.

KPower Bhd has secured a four-year extension of its power purchase agreement with Tenaga Nasional Bhd relating to the development of a 50-megawatt solar photovoltaic plant in Pekan, Pahang. The extension of the tenure to 25 years from 21 years was informed by the Energy Commission in a letter to the renewable energy group's 95%-owned subsidiary PKNP KPower Suria Sdn Bhd.

Greatech Technology Bhd has entered into a Memorandum of Understanding (MoU) in relation to the proposed acquisition of a 60% equity interest in Irish automation specialist Kaon Automation Ltd.

Tomypak Holdings Bhd has proposed to acquire a Johor-based packaging manufacturer for RM120 million to bolster its packaging manufacturing capacity which was affected by a fire incident. The flexible packaging manufacturer said it has signed an MoU to buy a 59.3% stake in EB Packaging Sdn Bhd from Siow Chew Kiong, Teo Kee Lin, Hoo Jik Heng and Teo Peng Hong, and another MoU with RMCP Plastics Holdings Sdn Bhd to buy the remaining 40.7% stake.

Pentamaster Corp Bhd’s net profit for the second quarter ended June 30, 2022 rose 7.05% to RM19.2 million from RM17.94 million a year earlier, underpinned by higher revenue. Quarterly revenue rose 15.84% to RM151.34 million from RM130.65 million on higher contribution from its automated test equipment and factory automation solutions segments. For the cumulative six-month period, net profit increased 16.44% to RM39.6 million compared with RM34.01 million for the previous January-June period. Six-month revenue increased 20.97% to RM297.37 million from RM245.81 million.

RCE Capital Bhd's net profit fell 8.93% to RM32.23 million for the first quarter ended June 30, 2022, from RM35.39 million a year earlier due to higher allowances for impairment loss on receivables. Revenue was almost flat at RM77.66 million, against RM78.04 million in the year-ago first quarter.

MGB Bhd has bagged another housing contract in Dengkil, Selangor from a unit of its major shareholder LBS Bina Group Bhd. The latest contract, worth RM172.34 million, is for the development of two 24-storey blocks of affordable service apartments.

Kejuruteraan Asastera Bhd has secured a Letter of Intent for a RM16.7 million subcontract to undertake electrical services installation works for the proposed 44-storey Bon Kiara condominium project in Mont Kiara. The engineering and energy solutions provider secured the LOI from Land Marker Sdn Bhd, a subsidiary of Bon Estates Sdn Bhd.

Pasukhas Group Bhd has been awarded a contract to undertake concrete substructure works for the head building of the Dexcom Malaysia Factory 3 project in Penang. The contract worth RM7.08 million was awarded by Exyte Malaysia Sdn Bhd.

Malaysia Pacific Corp Bhd has said trading of its shares will be suspended with effect from Aug 19, following Bursa Securities' rejection of its request for a further extension of time to submit its regularisation plan. The property group added that it faces the risk of being delisted on Aug 23 unless it files an appeal against the delisting by Aug 18. The Practice Note 17 group had up till June 30 to submit its regularisation plan to Bursa.

D'nonce Technology Bhd is buying a loss-making self-adhesive labels manufacturing unit from Komarkcorp Bhd for RM9.1 million to diversify into the labelling business. The group also proposed to undertake a one-for-one rights issue, with one free five-year warrant for every rights share, raising up to RM43.47 million based on an indicative issue price of 10 sen per rights share.

Edited ByS Kanagaraju
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