KUALA LUMPUR (July 25): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (July 26) may include the following: Public Bank, Maybank, Serba Dinamik, AirAsia X, Premier Nalfin, Ajiya, Sasbadi, Gromutual, T7 Global and CCK Consolidated.
Public Bank Bhd’s net profit for the second quarter ended June 30, 2017 (2QFY17) increased 6% to RM1.33 billion, from RM1.26 billion in the previous year, mainly supported by higher net interest income, lower loan impairment allowance and higher net fee and commission income.
Revenue increased 3.75% to RM5.17 billion from RM4.98 billion a year ago.
The group proposed a first interim dividend of 27 sen per share, payable on Aug 17.
Malayan Banking Bhd (Maybank) has raised RMB1 billion via the inaugural issuance of renminbi bonds in China's interbank bond market after a bookbuilding process.
The proceeds raised will be used for general banking and other corporate purposes, Maybank told Bursa Malaysia in a filing today.
"This includes utilising the proceeds both onshore and offshore to support activities in connection with the Belt and Road Initiatives, including but not limited to, financing of projects within Asia in various sectors such as the utilities, mining, oil and gas and petrochemical sectors," Maybank added.
The three-year senior, unsecured bonds have a 4.6% interest per annum, said Maybank. They were rated AAA by China Chengxin International Credit Rating Co Ltd.
Serba Dinamik Holdings Bhd secured about RM522.92 million worth of operations and maintenance (O&M) contracts for oil and gas companies across Malaysia and United Arab Emirates (UAE).
Serba Dinamik said it secured four projects in Malaysia and two in the UAE.
"O&M contracts usually do not have a specified contract value by nature and the company derives the value based on its internal estimation of the historical records for similar type of projects or contracts," Serba Dinamik said.
AirAsia X Bhd's operating performance in the second quarter of 2017 (2Q17) trended slightly above expectations despite the period historically being the leanest in any given year, the group said today.
The company continues to stimulate demand to fill up additional capacity injected in 2Q17 by achieving a marked improvement in passenger load factor (PLF) of 80%, up 5 percentage points (ppts) year-on-year (y-o-y), in line with the 26% y-o-y growth in available seat per kilometers (ASK) to 8.45 billion in 2Q17, said AirAsia X.
Premier Nalfin Bhd has proposed a cash distribution of 30 sen per share to its shareholders under a capital reduction and repayment exercise, with a total sum of RM101.1 million to be distributed.
Bursa Malaysia had earlier required Premier Nalfin to announce a monies distribution proposal to its shareholders before July 26 and for the distribution exercise to be completed within six months from then.
Upon completion of the exercise, Premier Nalfin will be delisted from the exchange.
Ajiya Bhd’s net profit for the second quarter ended May 31, 2017 (2QFY17) surged nearly five times to RM1.62 million from RM325,000 a year ago, on higher foreign currency translation gain.
Its quarterly revenue, however, fell 11% to RM90.48 million from RM101.15 million a year ago, mainly due to weak market conditions and stiff competition in the construction sector which affected the demand for the group’s products, said Ajiya in a filing with Bursa Malaysia today.
Ajiya registered a higher foreign currency translation gain of RM1.91 million compared with RM486,000 in the same quarter last year.
Sasbadi Holdings Bhd has proposed to buy the remaining 30% stake in Sanjung Unggul Sdn Bhd it does not own from Law En Tzer for RM9.4 million in cash, which will be entirely financed by bank borrowings.
On completion of the proposed acquisition, Sanjung Unggul will become its wholly-owned subsidiary.
Sanjung Unggul is principally involved in publishing books and educational materials catering to students in national-type Chinese schools.
The proposed acquisition will enable Sasbadi to have full control over the Sanjung Unggul, and how it leverages on its competitive strengths such as its online and digital technological capabilities, extensive distribution network, economies of scale, etc, said Sasbadi.
Property developer Gromutual Bhd has bought three pieces of land in Melaka for RM7.26 million.
The purpose of the acquisition and the vendors were not disclosed in the group's announcement to Bursa Malaysia.
Gromutual said its wholly-owned subsidiary Sakae Corporation Sdn Bhd bought two pieces of land measuring 10.14 acres and 9.69 acres for RM2.58 million and RM2.47 million respectively.
Another wholly-owned unit, Wisma Development Sdn Bhd, meanwhile bought the third plot measuring 3.5 ha for RM2.2 million.
T7 Global Bhd (formerly known as Tanjung Offshore Bhd) has acquired a 9.8% stake in Triangle Energy Global Ltd, an Australian listed oil and gas (O&G) producer based in Perth, for US$500,000 (RM2.15 million).
T7 Global said the stake was acquired from Tamarind Classic Resources Pte Ltd. The acquisition is to be funded by internally-generated funds.
Sarawak-based poultry processing group CCK Consolidated Holdings Bhd said a fire has damaged the fish ball production line at its subsidiary’s factory in Kuching.
CCK said the incident at CS Choice Industries Sdn Bhd’s factory did not cause any harm to workers. The production operation has temporarily ceased for clean-up, repair works and inspection, and is expected to re-commence in one to two months’ time.
CCK said the board is unable to finalise the financial impact to CCK group but believe that the damage is not expected to be substantial and will also be mitigated as it is adequately insured, pending the assessment of the insurance company.