KUALA LUMPUR (Aug 4): Based on corporate announcements and news flow today, the following companies might be in focus tomorrow, Wednesday (Aug 5): Aemulus Holdings Bhd, Alam Maritim Bhd, AT Systemization Bhd, Green Ocean Corp Bhd, Kossan Rubber Industries Bhd, Dufu Technology Corp Bhd, DRB-Hicom Bhd, Fraser & Neave Holdings Bhd (F&N), Hartalega Holdings Bhd, MPHB Capital Bhd and RedPlanet Bhd.
Aemulus Holdings Bhd plans to raise up to RM23.62 million via a private placement to fund potential business investments and reduce bank borrowings. The group has proposed to undertake a private placement of up to 54.94 million shares representing 10% of its total number of issued shares to third-party investors to be identified later, it said in a bourse filing today. The issue price will also be determined later.
Alam Maritim Resources Bhd’s wholly-owned unit has bagged a five-year contract from Repsol Oil & Gas Malaysia Ltd for the provision of subsea inspection, maintenance and repair services for PM3-CAA. The contract value is as per work requested from Repsol throughout the duration of the contract. It has been in effect since June 30,2020, with its first vessel mobilisation for 2020 targeted for the middle of August.
AT Systemization Bhd, Green Ocean Corp Bhd and Kossan Rubber Industries Bhd have, via separate bourse filings, denied a news report suggesting they were in a partnership to form a glove-making pact. The three companies refuted a news report stating they were working in a partnership. "Kossan wishes to clarify that the company is neither aware of nor involved in the abovementioned glove-making pact or tripartite partnership," Kossan's filing read.
Dufu Technology Corp Bhd’s net profit for the second quarter ended June 30,2020 (2QFY20) slipped 5.32% year-on-year to RM9.81 million from RM10.37 million, despite stronger revenue, due to a RM3.5 million unrealised forex loss and RM0.8 million in employee share option expenses. Revenue grew 37.69% y-o-y to RM73.41 million from RM53.32 million, following higher volume loading by customers related to hard disk drives components. It declared a 1.25 sen interim dividend payable on Sept 25, down from the 2 sen declared in the corresponding quarter last year.
DRB-Hicom Bhd’s 51.1% owned Proton Holdings Bhd saw its vehicle sales surge to 13,216 units in July, representing an eight year high. July sales grew 37.3% month-on-month and 45.7% y-o-y. The better sales were attributed to tax incentives launched by the government and rising consumer demand for automobiles. YTD, its market share in July stood at 21.8%, up 6.7% from the corresponding period last year.
Fraser & Neave Holdings Bhd (F&N) saw its third quarter net profit (3QFY20) fall by 18.35% y-o-y to RM93.85 million from RM114.94 million, due to lower sales, amid moderating consumer demand resultant of Covid-19. Revenue declined 13.9% y-o-y to RM918.07 million from RM1.07 billion, mainly on the back of lower contribution from its Malaysian operations. 9MFY20 net profit shrunk 5.2% y-o-y to RM324.37 million from RM342.21 million, with revenue down 2.2% to RM3.03 billion from RM3.10 billion.
Hartalega Holdings Bhd's net profit saw its first quarter ended June 30, 2020 (1QFY21) jump 134% y-o-y to RM219.72 million from RM94.06 million, as revenue grew 43.87% y-o-y to RM920.09 million from RM640.1 million. The better results were due to greater demand for rubber gloves, combined with higher average selling prices.
MPHB Capital Bhd is seeking Bank Negara Malaysia's (BNM) green light to start talks with Generali Asia on the divestment of its 51% stake in MPI Generali, who currently holds 49% of MPI Generali. On June 18, the group applied to BNM to start negotiations with Generali Asia over its potential sale of a 21% in MPI Generali to Generali Asia. While MPHB has yet to receive BNM’s decision on the matter, it has submitted another application to the central bank for approval to initiate talks with Generali Asia.
RedPlanet Bhd made its LEAP market debut at a four sen premium of 22 sen over its offer price of 18 sen. The counter finished the trading day 77.78% or 14 sen higher at 32 sen a piece, now valuing it at some RM51.01 million. It saw 1.20 million shares traded.