KUALA LUMPUR (Aug 17): Based on corporate news flow and announcements today, stocks that could be in focus tomorrow (Tuesday Aug 18) are Ajinomoto (Malaysia) Bhd, Dayang Enterprise Holdings Bhd, Eco World Development Group Bhd, Innature Bhd, Inta Bina Group Bhd, LPI Capital Bhd, MISC Bhd, Nexgram Holdings Bhd, OCB Bhd and Sino Hua-An International Bhd.

Ajinomoto (Malaysia) Bhd saw its 1QFY21 net profit rise by RM15.06 million, from RM13.72 million a year prior following lower advertising and sales promotional expenses. That said, quarterly revenue fell by 5.49% to RM95.08 million, from RM100.6 million previously.

At the same time, it announced a first and final dividend of 49.3 sen for FY20, higher than the 47 sen declared in FY19.

Dayang Enterprise Holdings Bhd bagged a contract from Sarawak Shell Bhd and Sabah Shell Petroleum Company Ltd for the provision of topside major maintenance services. The contract’s value is based on work orders issued. The contract is effective from July 23 until the completion of work this year.

Eco World Development Group Bhd is selling 16.32 acres of industrial land at its Eco Business Park V project to Baosteel Can Making (Malaysia) Sdn Bhd for RM53.3 million. Baosteel Malaysia is an indirect subsidiary of China Baowu Steel Group Corp Ltd.

Innature Bhd’s 2QFY20 net profit fell 38.62% y-o-y to RM3.13 million, from RM5.1 million a year earlier, as its retail business was impacted by the Covid-19 lockdown. Quarterly revenue fell by 28.69% to RM31.43 million from RM44.07 million. Half-year net profit more than halved to RM5.88 million from RM15 million a year prior, as revenue fell 37.07% to RM68.82 million from RM91.68 million.

Inta Bina Group Bhd has been appointed by Tropicana Corp Bhd as contractor for a multi-facility apartment project in Subang Jaya for RM199 million. The project covers the development of a 39-floor apartment compromising 120 service apartment units, 537 service studio apartment units and a podium consisting of nine floors including parking lots, commercial units and other associated facilities. Work will commence Aug 24 and schedules for completion within 39 months.

LPI Capital Bhd’s 2QFY20 net profit rose 9.4% to RM77.4 million from RM70.78 million. Quarterly revenue came in 3.3% higher at RM399.55 million from RM386.9 million. The group declared a first interim dividend of 28 sen per share. 1HFY20 net profit rose by 5% to RM155.32 million, from RM147.94 million, with half-year revenue up 3.1% to RM803.45 million from RM779.6 million last year. The better results were borne out of higher gross premiums earned from the general insurance segment.

MISC Bhd has inked a deal with Brazil’s Petróleo Brasileiro SA (Petrobras) to provide a floating production storage and offloading facility, Mero 3 FPSO, to the Brazilian company. The FPSO will be located offshore from Rio de Janeiro in the Libra block, Santos Basin, Brazil. The charter will last 22.5 years, with operations to start in 1H24.

Nexgram Holdings Bhd is partnering Falze Holdings Sdn Bhd (FHSB) for a sub-contract under the Central Spine Road project. The contract, which was awarded by main contractor Pembinaan Jaya Zira Sdn Bhd, is for Section D, Package 3 of the CSR project from Bulatan Gua Musang to Mentara, Kelantan, worth RM145 million. Nexgram’s portion of the contract is valued at RM118.41 million, while FHSB’s cut is RM26.56 million, which is inclusive of a RM14.55 million provisional sum.

OCB Bhd is acquiring 36.0 acres of land in Kapar for RM56.29 million for a warehousing and distribution hub. 80% of the purchase will be funded through bank borrowings, with the balance to be serviced with internally-generated funds. The purchase is expected to be completed in 12 months.

Sino Hua-An International Bhd is to be the exclusive distributor for Guangxi Aerospace Beidou New Energy Industry Technology Co Ltd’s ultra capacitors and super batteries outside of China. The exclusive master distribution agreement between the two will last 10 years and is subject to 10 year renewal periods, if sales increase by a minimum of 10% at the end of each 10-year term.