Thursday 28 Mar 2024
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KUALA LUMPUR (Sept 28): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Thursday, Sept 29) could include: Sime Darby, SP Setia, SapuraKencana, DRB-Hicom, VS Industry, Yinson, Utusan, Ancom, Media Prima, Seni Jaya, Gamuda and Dufu.

Battersea Power Station has confirmed that Apple will be the largest office tenant at its 500,000 sq ft development in London, utilising almost half of the facility as a new campus.

In a statement today, the project's developer said Apple is set to move into the area in 2021.

About 1,400 Apple employees from existing offices around London will relocate to this new development at one of London's best known landmarks.

It is understood that the transaction represents the largest office letting in London's wider West End in the last 20 years.

The Battersea Power Station development extends to over 42 acres (17ha) of prime riverside land which is being regenerated to accommodate the largest mixed-use project in Central London.

Managed by Britain-based Battersea Power Station Development Co, it is owned by Malaysian shareholders Sime Darby Bhd, SP Setia Bhd and the Employees Provident Fund (EPF).

Oilfield services company SapuraKencana Petroleum Bhd's second quarter net profit grew 8% to RM112.27 million from a year earlier in the absence of oil and gas (O&G) property impairment provision and as operating income rose.

In a bourse filing, SapuraKencana said the RM112.27 million net profit in the second quarter ended July 31, 2016 (2QFY17) grew from RM104.09 million. Revenue, however, fell to RM1.68 billion from RM2.8 billion.

Based on its income statement, operating profit improved to RM1.13 billion from RM950.5 million.

In 2015, SapuraKencana posted O&G property impairment provision of RM539.85 million for its exploration and production business under the company's energy division.

For 1HFY17, SapuraKencana's net profit fell to RM222.58 million from RM364.78 million a year earlier. Revenue, too, declined to RM3.62 billion from RM5.06 billion.

DRB-Hicom Bhd said five candidates have been shortlisted as potential collaborator for its ailing subsidiary Proton Holdings Bhd.

A final decision is expected to be made before the middle of next year.

DRB-Hicom managing director and Proton chairman Datuk Seri Syed Faisal Albar said that though having a strategic partner means that parent company DRB-Hicom could "give up some equity stakes", he asserted that the group will remain a "substantial shareholder" of the carmaker.

He was speaking at the launch of the all-new Proton Saga, which Proton has dubbed as its money-spinner.

A news report earlier today cited four automotive players namely Volkswagen AG's Skoda unit, Suzuki Motor Corp, Renault SA as well as PSA Group (whose subsidiaries include Peugeot and Citroen) as likely candidates. It is understood that at least one Chinese automaker, likely to be Geely which owns the Volvo brand, is also bidding to collaborate with Proton.

Impairment losses have led to VS Industry Bhd's net profit for the fourth quarter ended July 31, 2016 (4QFY16) tumbling 79.2% to RM10.94 million from RM52.7 million a year earlier.

The group said it recognised impairment loss on other investments (RM7.62 million) and provision for deposits of RM21.77 million paid for the proposed acquisition of a 20% stake in a solar power plant in the Inner Mongolia Autonomous Region.

Revenue rose 9.3% to RM554.2 million from RM506.84 million, the electronics manufacturing services provider said in a bourse filing.

VS Industry has proposed a final dividend of 0.8 sen.

Net profit for the full FY16 was down 11.2% to RM117.93 million from RM132.74 million in FY15 mainly due to the one-off impairment losses.

Revenue for the year rose 12.4% to RM2.18 billion from RM1.94 billion on the back of robust increase in sales orders from a majority of the group's key customers.

Yinson Holdings Bhd's net profit for the second quarter ended July 31, 2016 (2QFY17) fell 23% to RM60.3 million from RM78.4 million last year due to lower other operating income and higher administrative expenses.

However, revenue gained 16.3% to RM114.4 million from RM98.4 million.

In its six months ended July 31, 2016, Yinson's net profit dropped 6.8% to RM82.7 million from RM88.8 million last year, while revenue grew 16.4% to RM229.8 million from RM197.5 million.

Four listed companies, namely Utusan Melayu (M) Bhd, Ancom Bhd, Media Prima Bhd and Seni Jaya Corp Bhd, have been awarded 10-year advertising concession packages on the mass rapid transit (MRT) Sungai Buloh-Kajang Line (SBK Line), also known as MRT1.

In a statement, Mass Rapid Transit Corp Sdn Bhd (MRT Corp) said it had selected the successful concessionaires which will manage advertising on the MRT line.

MRT Corp said the 10-year concessions for both Package A for station advertising and Package C for train advertising had been awarded to Titanium Compass Sdn Bhd, while the concession for Package B for exterior advertising had been awarded to Big Tree-Seni Jaya Consortium.

Titanium Compass is a joint-venture (JV) comprising four companies: Ancom's indirect wholly-owned Puncak Berlian Sdn Bhd, Thai-listed VGI Global Media Public Co Ltd, Ikatan Asli Sdn Bhd and Utusan Melayu's wholly-owned Utusan Airtime Sdn Bhd.

Meanwhile, Big Tree-Seni Jaya Consortium comprises Media Prima's wholly-owned Big Tree Outdoor Sdn Bhd (BTO) and Seni Jaya Corp's wholly-owned Seni Jaya Sdn Bhd.

Gamuda Bhd's net profit for the fourth financial quarter ended July 31, 2016 (4QFY16) remained largely flat at RM152.1 million compared with RM153.68 million a year ago, thanks to cost-savings recognised from the completion of MRT1.

Revenue was also flattish at RM614.39 million compared with RM623.37 million previously, due to the tapering off of underground and elevated works of the MRT 1.

However, for the full financial year 2016 (FY16), its earnings declined by 8.2% to RM626.13 million from RM682.13 million in FY15 as a result of the softening in the local property market, besides the tapering off of works on MRT1.

Revenue for the year was down 11.6% to RM2.12 billion from RM2.4 billion in FY15.

Bernama reported that the Securities Commission Malaysia (SC) has reprimanded and imposed penalties on two executive directors of Dufu Technology Corp Bhd for causing wrongful loss to the company.

Dufu's former executive director and chief executive officer Yong Poh Yow was found to have allegedly made remittances totalling US$1.01 million (about RM4.18 million) to foreign parties in the US between January 2013 and October 2014 without authorisation from Dufu's board.

The SC said the monies were then allegedly used to purchase several assets which were registered under his own name, and this is a breach of section 317A(1) of the Capital Markets and Services Act 2007 (CMSA). It said Yong was reprimanded and fined RM200,000.

Dufu's former executive director and chief financial officer Lee Hui Ta, also known as Li Hui Ta, was reprimanded and fined RM150,000 for abetting Yong by allegedly approving payment vouchers for the said unauthorised remittances. Lee is currently the executive chairman of Dufu.

Although a breach of section 317A(1) of the CMSA carries a minimum jail term of two years to a maximum of 10 years and a fine not exceeding RM10 million upon conviction, the SC said it imposed administrative sanctions on both Lee and Yong after taking into consideration that Yong had fully repaid the amount involved to Dufu.

 

 

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