KUALA LUMPUR (Dec 10): Based on corporate announcements and news flows today, stocks on focus on Tuesday (Dec 11) may include: Top Glove Corp Bhd, Prestariang Bhd, Tenaga Nasional Bhd, Scientex Bhd, Kumpulan Perangsang Selangor Bhd, MAA Group Bhd and Malaysia Airports Holdings Bhd.
Top Glove Corp Bhd chairman Tan Sri Dr Lim Wee Chai said it is business as usual for the group and its supply with the UK’s National Health Service (NHS) is going on as usual, despite allegations of forced labour made in the UK’s The Guardian newspaper yesterday.
Lim called the news report “inaccurate” and clarified that contributions from supply to the UK’s NHS is minimal to Top Glove.
Prestariang Bhd said the company has not received any notice of default from the Government relating to the cancellation of the Immigration Department's RM3.5 billion National Immigration Control System (SKIN) concession.
Prestariang's subsidiary, Prestariang SKIN Sdn Bhd, was appointed by the Government in 2017 to implement the replacement for the Malaysian Immigration System (myIMMs) by 2020.
Earlier today, Home Minister Tan Sri Muhyiddin Yassin was reported as saying that the Government would cancel the SKIN concession to make way for the development of a new system that is comprehensive, effective and user friendly.
Tenaga Nasional Bhd (TNB) is subscribing to a compulsorily convertible debenture (CCD) for 2.256 billion rupees (RM133.17 million) to facilitate its direct investment in the construction of a hydroelectric power plant in India.
The CCD is issued by GMR Bajoli Holi Hydropower Pvt Ltd (GBHH), which is constructing the 180MW run-of-river plant within the Himalaya Range in the State of Himachal Pradesh, which is expected to commence commercial operations by October. TNB said the investment is in line with its strategy to grow its portfolio of energy assets in India.
Scientex Bhd said it will issue 25.28 million new shares in the company to satisfy the proposed acquisition of a 42.41% stake in Daibochi Bhd. A conditional share sale agreement (CSSA) was inked today with certain shareholders of Daibochi Bhd for the RM222.5 million deal.
However, Scientex, which is keen to extend a mandatory general offer (MGO) for the remaining stake in Daibochi after the acquisition, has yet to decide whether to acquire the remaining stake by cash or a further issuance of new shares in Scientex.
Kumpulan Perangsang Selangor Bhd (KPS) is planning to raise up to RM500 million via an Islamic Medium Term Notes Programme to be used for general corporate purposes and to refinance the group's existing borrowings.
The sukuk programme, which has a tenure of up to 15 years from the date of its first issuance, is in line with its strategy of prudent capital management, said KPS.
MAA Group Bhd is selling all the 24.34 million shares or 47.95% stake it owns in Australian-based retail mortgage and loan securitisation company Columbus Capital Pty Ltd (CCA), for A$21 million (about RM63 million).
The stake is held under Columbus Capital Singapore Pte Ltd (CCS), which is a sub-subsidiary of MAA. CCS is held under MAA International Investments Ltd, which is wholly owned by MAA Corp Sdn Bhd, which is in turn wholly owned by MAA.
The CCA stake is being sold to Consortia Group Holdings Pty Ltd. The disposal, expected to be completed by Dec 20, is projected to bring in a gain of RM7.71 million for MAA.
Malaysia Airports Holdings Bhd (MAHB) handled 4.3% more passengers in November compared with the same period a year ago, with traffic boosted by growth from both international and domestic passenger movements.
A total of 8.27 million passengers passed through the 39 airports it operates in Malaysia last month, compared with 7.93 million in November 2017. The international sector recorded growth of 4% to 4.3 million passenger movements, while the domestic sector was up 4.6% to 4 million passengers.