KUALA LUMPUR (Sept 14): Based on corporate announcements and news flow today, stocks in focus tomorrow (Sept 15) may include: Straits Inter Logistics, TNB, Astro, MAA Group, Magni-Tech, Sunway Construction Group, G3 Global, AWC, AbleGroup, TRC Synergy, Bina Puri, 7-Eleven Malaysia, CB Industrial, EcoWorld and EWI.
Straits Inter Logistics Bhd, formerly Raya International Bhd, said its 51%-owned subsidiary, Selatan Bunker (M) Sdn Bhd, has secured a half-year contract worth RM45 million to provide oil bunkering and related services.
The contract was awarded by Tumpuan Megah Development Sdn Bhd (TMD).
The two parties had previously inked a collaboration agreement to explore and develop the business of bunkering services for marine fuel, petroleum and petroleum-based products — including marketing and sales of bunkering services — in the Pasir Gudang Port area of Johor.
Pursuant to the collaboration agreement, TMD now wishes to appoint Selatan Bunker to provide bunkering services.
Tenaga Nasional Bhd (TNB) announced that its 51%-owned Southern Power Generation Sdn Bhd plans to raise RM4 billion via the issuance of sukuk, which will have a tenure of up to 20 years.
According to TNB, proceeds of the sukuk will be used by Southern Power Generation to fund up to 80% of the total construction cost of the 2X720MW combined-cycle gas turbine power plant in Pasir Gudang, Johor, previously code-named Project 4A.
It was previously reported that the project will cost some RM4.7 billion. The sukuk will be issued in one lump sum.
Astro Malaysia Holdings Bhd's second quarter net profit jumped 96% to RM246.34 million, from RM125.43 million a year earlier, mainly due to lower finance costs on the back of favourable unrealised foreign exchange gains.
Earnings per share for the quarter ended July 31, 2017 (2QFY18) increased to 4.73 sen per share from 2.41 sen, the group said in a filing to Bursa Malaysia.
Revenue was, however, down by a marginal 0.6% to RM1.42 billion from RM1.43 billion, which the group attributed to a decrease in subscription and licensing revenue.
Practice Note 17 (PN17) company MAA Group Bhd, whose second quarter net profit was down by nearly 90%, has declared a second interim dividend of three sen.
The dividend will be paid on Oct 23. The ex-date is Sept 28, and the entitlement date is Oct 2, MAA said.
Magni-Tech Industries Bhd's net profit fell 17% to RM19.59 million in the first quarter ended July 31, 2017 (1QFY18), from RM23.53 million a year ago, due to net foreign exchange loss recorded for the quarter.
It posted 12 sen earnings per share for the quarter, compared with 14.46 sen in 1QFY17. Revenue for the quarter, however, improved 12% year-on-year to RM293.71 million from RM271.39 million.
The garments and plastic packaging materials manufacturer announced a single tier interim dividend of 3.5 sen per share in respect of its financial year ending April 30, 2018 (FY18).
Sunway Construction Group Bhd (SunCon) has bagged a construction contract worth RM581.66 million for the construction of 1Malaysia Civil Servants Housing (PPA1M) apartments in Kelantan.
SunCon said its subsidiary Sunway Construction Sdn Bhd inked a construction contract with Liziz Standaco Sdn Bhd to construct and complete six blocks of 29-storey PPA1M apartments.
The project is for about 30 months from the date of commencement, to be completed by the first quarter of 2020, said SunCon.
G3 Global Bhd, formerly known as Yen Global Bhd, has appointed its major shareholder, Puan Chan Cheong, the founder and current director of Green Packet Bhd, as its new non-executive chairman.
A clothing retailer and Internet-of-Things solutions provider, G3 Global said in a Bursa Malaysia filing today that Puan — better known in the market as CC Puan — is replacing Goh Kok Beng, who has been redesignated as executive director.
Automated waste collection company AWC Bhd said its wholly owned subsidiary Qudotech Sdn Bhd has been awarded a subcontract for the provision of plumbing works for the 8 Conlay project developed by Damai City Sdn Bhd.
AWC said the subcontract, worth RM32.6 million, is expected to be completed in phases, from May 14, 2019, until May 31, 2021.
AbleGroup Bhd has received a conditional mandatory takeover offer from Parallel Pinnacle Sdn Bhd, the private vehicle of its managing director Datuk Lim Kim Huat, after he bought 28.3 million AbleGroup shares or a 10.72% stake in the company.
Parallel offered to buy the remaining shares at 13 sen per share, a 1 sen or 7% discount to the stock's closing price of 14 sen on Sept 13.
The offer for the shares shall remain open until 5pm for at least 21 days from the posting date.
TRC Synergy Bhd, along with its joint venture (JV) partner Konsortium Kontraktor Melayu Sdn Bhd (KKM), has bagged a RM348.3 million contract from Mass Rapid Transit Corp Sdn Bhd to build a mass rapid transit (MRT) maintenance depot in Serdang, Selangor.
TRC said Consortium KKM-TRC — a JV between its wholly-owned subsidiary Trans Resources Corp Sdn Bhd and KKM — had on Tuesday (Sept 12) accepted the award from MRT Corp for Package DPT201 of the MRT Sungai Buloh-Serdang-Putrajaya project (MRT Line 2), which involves construction of the Serdang maintenance depot, external works and other associated works.
Bina Puri Holdings Bhd will undertake road pavement and diversion works along the Federal Road's Sungai Buloh-Assam Jawa stretch in Selangor, under a RM35.5 million contract.
The group said its subsidiary Sungai Long Industries Sdn Bhd had accepted the project's letter of award from Aktif Unggul Sdn Bhd on Aug 1 this year.
The Sultan of Johor, Sultan Ibrahim ibni Almarhum Sultan Iskandar, who emerged as the second largest individual shareholder in 7-Eleven Malaysia Holdings Bhd last month, bought an additional 874,100 shares between Sept 7 and Sept 12.
This brings his total shareholding to 104.37 million shares, equivalent to 9.4% in direct interest.
CB Industrial Product Holding Bhd has secured a palm oil mill-related contract from Sime Darby Plantation Bhd.
The group said the RM8.8 million contract was awarded to its wholly-owned unit PalmitEco Engineering Sdn Bhd and entails replacing existing front-end vertical sterilizer with continuous sterilizer system at Sime Darby Plantation's palm oil mill in Layang Layang, Johor.
Eco World Development Group Bhd (EcoWorld) recorded a 76% year-on-year jump in net profit for its nine months ended July 31, 2017 (9MFY17), to RM175.94 million from RM99.93 million, thanks largely to a gain from the dilution of interest in then wholly-owned Paragon Pinnacle Sdn Bhd in the first quarter of the year.
Topline for the period also came in 12% higher at RM2.03 billion compared with RM1.81 billion a year ago.
The property developer achieved total sales of RM772 million in the third quarter ended July 31 (3QFY17), 40% stronger than the RM552 million it posted in 2QFY17.
Meanwhile, Eco World International Bhd's (EWI) net loss narrowed to RM24.2 million in the third quarter ended July 31, 2017 (3QFY17) from RM46.4 million in the previous corresponding period, thanks to stronger British pound.
Quarterly revenue came in at RM97,000 versus RM288,000 in 3QFY16.
The group, which was listed on April 3 this year, recorded a net loss of RM55.1 million in the cumulative nine-month period ended July 31, 2017 (9MFY17), which is 66.6% lower than RM165 million in the prior year, while revenue slipped 7.8% to RM461,000 in 9MFY17 from RM500,000 a year ago.