KUALA LUMPUR (Dec 27): Based on corporate announcements and news flow today, stocks in focus on Friday (Dec 28) may include: Malton Bhd, Kronologi Asia Bhd, EcoFirst Consolidated Bhd, UOA Development Bhd, Deleum Bhd, Jadi Imaging Holdings Bhd, Berjaya Corp Bhd, Kim Loong Resources Bhd, Hock Seng Lee Bhd, Ranhill Holdings Bhd and Karyon Industries Bhd.

Malton Bhd's joint venture (JV) with Hong Kong-listed Nan Hai Corp Ltd has been selected to enter into the next phase of bidding to build a superstructure above the airport express train station located near the Taipei main train station in Taiwan.

Malton said the Department of Rapid Transit Systems Taipei City Government had today announced that the bid submitted by the Nan Hai-Malton JV has been selected as the best applicant for the project.

Nan Hai holds an 80% equity interest in the JV, while Malton holds the remaining 20% stake.

The Nan Hai-Malton JV will now commence negotiations on the terms of an investment agreement with Taipei City authorities, which is expected to be sealed in March next year.

Kronologi Asia Bhd plans to acquire IT infrastructure company Sandz Solutions (Singapore) Pte Ltd for RM75 million using a combination of cash and new share issuance, which will pave the way for the emergence of a new single, largest shareholder in the group.

The deal, if it gains shareholders' and authorities’ approvals, will see Sandz' current owner, Desert Streams Investment Ltd (DSIL) that is controlled by Enrique Galang Velasco, becoming Kronologi's single, largest shareholder with a 23.65% stake.

EcoFirst Consolidated Bhd is seeking to jointly develop a RM1.25 billion gross development value (GDV) mixed project in Paya Terubong, Penang with the Lone Pine Group.

The group has inked a share sale agreement (SSA) to acquire a 70% stake in Geo Valley Sdn Bhd, a member of the Lone Pine Group, for RM44 million cash. Geo Valley owns seven pieces of land totalling 32.8 acres in Paya Terubong.

UOA Development Bhd has acquired property developer Naik Makmur Development Bhd for RM24.67 million to expand its existing land bank in Pantai, Kuala Lumpur. Owned by Lembah Bayusegar Sdn Bhd, Naik Makmur holds two parcels of freehold land in Pantai totalling 2,509 sq m or 0.62 acre.

Deleum Bhd has bagged a new contract from ExxonMobil Exploration and Production Malaysia Inc to provide slickline equipment and services for the latter.

Deleum said the value of the three-year contract that comes with a one-year extension option depends on the agreed rates and work order issued by customers for the duration of the contract.

Jadi Imaging Holdings Bhd said it has made the tax payment to Jiangsu Local Taxation Bureau, China in relation to the proposed disposal of its wholly-owned subsidiary Jadi Imaging Technologies (Suzhou) Co Ltd to Xue Cheng Cai and Xu Xue Hua for RM20.33 million.

On Oct 12, the shareholders of Jadi Suzhou were changed from Jadi to the two individuals.

The company is now proceeding to the submission of documents to the state administration of foreign exchange for the proceeds to be remitted to Jadi in Malaysia. It added that the proposed disposal is expected to be completed by the first quarter of 2019.

Berjaya Corp Bhd narrowed its net loss by 51% to RM71.04 million for the second financial quarter ended Oct 31, 2018 (2QFY19) from RM145.99 million a year ago, due to the absence of impairment related to the sale of the Great Mall of China (GMOC) project.

Quarterly revenue, however, fell 9% to RM1.99 billion from RM2.19 billion, mainly due to lower contribution from the consumer products and services, and property segments.

For the cumulative six months (1HFY19), the group's net loss also narrowed to RM35.98 million from RM189.38 million a year ago, even though revenue slipped 5.7% to RM4.13 billion from RM4.38 billion in 1HFY18.

Kim Loong Resources Bhd’s net profit for the third quarter ended Oct 31, 2018 (3QFY19) fell 40.5% year-on-year to RM16.83 million from RM28.27 million, dragged by lower production and depressed palm oil prices. Revenue was down 21.4% to RM227.64 million from RM289.42 million.

For the cumulative three quarters, net profit shrank 37.4% to RM48.98 million from RM78.26 million in the same period last year, while revenue dropped 16.3% to RM674.42 million from RM805.53 million.

Hock Seng Lee Bhd (HSL) announced that its consortium has been awarded a substation works contract in Kuching, Sarawak worth RM90.99 million.

The 32-month contract was awarded by Sarawak Energy Bhd to the Larsen & Toubro Ltd, HSL, and Larsen & Toubro (East Asia) Sdn Bhd consortium, in which HSL owns a 45% stake. The contract will commence on Jan 7 next year.

Ranhill Holdings Bhd's subsidiary Ranhill SAJ Sdn Bhd and water asset management company Pengurusan Aset Air Sdn Bhd (PAAB) will spend RM3.4 billion to accelerate the reduction of non-revenue water (NRW) in Johor to 5% by 2025 from its current 24.12%.

Ranhill said the accelerated NRW reduction programme in the State will span over seven years.

Under the programme, there are 94 pipe rehabilitation projects to be completed by Ranhill SAJ by 2020, while steps will also be taken to address inaccurate meter readings and illegal use of water in the State.

Karyon Industries Bhd is exiting the metal stearates and mixed metal stabilisers manufacturing business in China via the cessation of operations at its China-based joint venture (JV) company, Karyon (Jinhua) Advanced Materials Co Ltd (KJAM).

Karyon, via its wholly-owned subsidiary Karyon Ventures Sdn Bhd (KVSB), owns 66.67% of KJAM shares, while the remaining 33.33% stake is held by Southern Aluminium Product Co Ltd (SAP).

In a filing with Bursa Malaysia today, Karyon said the cessation follows a request from SAP for a mutual termination of a JV agreement entered into by the two companies on Sept 18, 2006.