KUALA LUMPUR (June 14): Based on corporate announcements and news flow today, companies in focus on Monday (June 18) may include: Yinson Holdings Bhd, Datasonic Group Bhd, Sime Darby Plantation Bhd, Gamuda Bhd, Nexgram Holdings Bhd, JMR Conglomeration Bhd, and My EG Services Bhd.
Yinson Holdings Bhd has entered into a heads of terms to engage in exclusive negotiations for the potential supply and charter of a floating production storage and offloading (FPSO) unit to a Nigerian oil and gas company.
The FPSO unit will process the hydrocarbons from the Anyala & Madu fields.
Yinson’s indirect wholly-owned subsidiary Yinson Production Pte Ltd (YPPL) entered into a heads of terms with its associate Yinson Operations & Production West Africa Ltd and First Exploration & Petroleum Development Company Ltd (First E&P) to negotiate the potential supply and charter of the FPSO unit.
The initial term of the bareboat charter is expected to be for seven years and First E&P may extend the term of the charter for another eight years in total.
Datasonic Group Bhd will have to relook at its initial expectation of surpassing RM100 million mark of net profit in its financial year ending March 31, 2019 after the change of government following Pakatan Harapan's victory in the May 9 general election
Managing director Datuk Abu Hanifah Noordin remains optimistic that Datasonic's offering will remain appealing to the new government.
Sime Darby Plantation Bhd will be included in the Dow Jones Islamic Market Malaysia Titans 25 Index following a review of the index for the second quarter of 2018.
It replaces Gamuda Bhd on the index with effect after the close of trading today, said i-VCAP Management Sdn Bhd.
Dow Jones Islamic Market Malaysia Titans 25 Index is the benchmark index for MyETF Dow Jones Islamic Market Malaysia Titans 25 (MYETFDJ). i-VCAP is the manager of MYETFDJ.
Nexgram Holdings Bhd has disposed of its entire equity interest in six subsidiaries, in an effort to streamline its business activities with the intention to focus on property development.
This includes Nextnation Network Sdn Bhd, Dubaitech Marketing Sdn Bhd, Tech Bonanza Sdn Bhd, Taffu Media Sdn Bhd and Divamas Promotions Sdn Bhd for a total of RM1,000.
The group also announced in a separate filing that it has disposed of Kontrek Anugerah, its subsidiary that provides machinery and equipment related to property development, for RM100.
All the companies were sold to an individual, Muthukaruppan Sinnathamby.
JMR Conglomeration Bhd's largest shareholder, JMR Consolidated Holdings Sdn Bhd, has disposed of 14.5 million shares or an 11.44% stake in the group to Mayapada Capital Sdn Bhd.
Its shareholding in JMR Conglomeration now stands at 12.6 million shares or 9.94%.
JMR Consolidated, which held about 63.4 million shares or a 50.01% stake in JMR Conglomeration as at June 30, 2017, has been trimming its stake since December last year. It had sold 50.8 million shares, equivalent to 40.07% within half a year.
My EG Services Bhd bought back 11 million shares for RM7.91 million between June 4 and 5.
The electronic government services specialist said the minimum price for each share purchased was 69 sen while the maximum price was 73 sen.