KUALA LUMPUR: Based on corporate announcements and news flow today, stocks in focus on Thursday (October 12) may include: Zhulian Corp Bhd, Ancom Bhd, Key Asic Bhd, George Kent (Malaysia) Bhd, Johan Holdings Bhd, Dataprep Holdings Bhd and Genting Bhd.
Zhulian Corp Bhd’s net profit in the third quarter ended Aug 31, 2017 (3QFY17) surged 138% to RM14.58 million, from RM6.11 million a year ago, as it recorded higher revenue and a 2.9-times jump in other comprehensive income during the quarter.
It said improved earnings was boosted by a 41% y-o-y rise to RM4.23 million in its share of profit of equity accounted investee, and as the total of other comprehensive income grew to RM6.96 million from RM2.42 million.
Quarterly revenue was up 13% to RM44.78 million, from RM44.01 million a year earlier.
Zhulian also announced a third interim dividend of 1.5 sen per share, to be paid on Nov 30, in respect of its FY17.
In the cumulative nine months of FY17 (9MFY17), net profit jumped 96% y-o-y to RM41.33 million, from RM21.13 million, which it attributed to improved margin at some subsidiaries, in line with higher revenue and lower expenses.
Accumulative revenue climbed 5.2% y-o-y from RM139.39 million to RM146.68 million, on higher export revenue from Myanmar.
A consortium comprising Ancom Bhd and three other firms has bagged the advertising service concession for phase one of the Mass Rapid Transit (MRT) in Jakarta.
The consortium submitted a tender for the project on June 20, through PT Avabanindo Perkasa.
Ancom had announced the setting up of the consortium in May. Avabanindo Perkasa and Ancom’s indirect wholly-owned subsidiary Puncak Berlian Sdn Bhd (held through Redberry Sdn Bhd) are its members, along with PT Alternatif Media Group and Thailand-listed VGI Global Media PCL.
Key Asic Bhd, whose shares hit a seven-year high today and was the most active counter on the local stock exchange, revealed that it is in the midst of "undertaking a corporate exercise".
The details of the exercise, however, have not been finalised yet at this juncture, it said. The company will make the necessary announcements to Bursa Malaysia in the event it proceeds with the said corporate exercise.
George Kent (Malaysia) Bhd is partnering with Siemens Aktiengesellschaft, Germany, and Siemens Pte Ltd, Singapore, for the Kuala Lumpur to Singapore High Speed Rail (HSR) tender, and had entered into a pre-consortium agreement with Siemens on Oct 6.
Both parties will establish an engineering, procurement and construction (EPC) pre-consortium to prepare a joint offer on EPC level to the special purpose company which shall bid for the development, financing, construction and technical operation and maintenance of the Kuala Lumpur-Singapore HSR.
Johan Holdings Bhd's chairman and chief executive Tan Sri Tan Kay Hock and his wife, who collectively own about 48% of the group's shares, are making a conditional mandatory takeover offer for the remaining shares.
Tan, who is also the chairman of George Kent (M) Bhd, and Puan Sri Tan Swee Bee are offering to buy the remaining shares at 25 sen each.
Johan said Mustika Manis Sdn Bhd, a company wholly owned by the couple, has just acquired 15 million shares or 2.41% of the voting shares in the group for RM3.75 million, or at 25 sen a share.
Prior to this, Tan and his wife already owned a 45.76% stake in Johan through their vehicles Kin Fai International Ltd, Kwok Heng Holdings Ltd, Star Wealth Investment Ltd and Suncrown Holdings Ltd.
A printing and publishing firm today bought over Dataprep Holdings Bhd’s controlling shareholder’s entire stake in the loss-making IT solutions provider, and announced an unconditional mandatory takeover offer for the remaining shares.
Wardah Communication Sdn Bhd acquired the 270.54 million shares or 64.2% stake in Dataprep from VXL Holdings Sdn Bhd at 16 sen a share. Its offer for the remaining shares is being made at the same price of 16 sen, representing a 23 sen or 58.97% discount to the group’s last closing price of 39 sen.
Wardah is controlled by Tan Sri Muhammad Ikmal Opat Abdullah and his wife Puan Sri Jamilah Mahamad Isa via the Widad Business Group Sdn Bhd.
Genting Bhd's wholly-owned unit GOHL Capital Ltd is issuing US$500 million (about RM2.11 billion) worth of bonds to refinance the casino and hotel operator's existing debt, and fund the group's capital requirements.
Genting said the US$500 million "guaranteed notes" with a 4.25% annual coupon rate, matures on Jan 24, 2027. Prior to this, GOHL issued US$1 billion bonds in January this year.
Net proceeds from the US$500 million bonds "are expected to be used to replace certain borrowings in Genting and its consolidated entities and for other general corporate purposes of the group, including but not limited to, operating expenses, capital expenditure, investment, refinancing, working capital requirements, general funding requirements and/or making investments in other members of the Group, which may include investments for the development of Resorts World Las Vegas and/or other projects."
GOHL had yesterday (Oct 10) completed the book-building for the US$500 million scheme, which will form a "single series" with the existing US$1 billion scheme. The US$500 million bonds will be listed on the Stock Exchange of Hong Kong Ltd next Wednesday (Oct 18).