Amanah Harta PNB, Icon Offshore, Sapura Energy, Ta Win, Scientex and Berjaya

Amanah Harta PNB, Icon Offshore, Sapura Energy, Ta Win, Scientex and Berjaya
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KUALA LUMPUR (Sept 18): Based on corporate announcements and news flow today, stocks that might be in focus on Monday (Sept 21) are as follows: Amanah Harta PNB, Icon Offshore Bhd, Sapura Energy Bhd, Ta Win Holdings Bhd, Scientex Bhd and Berjaya Corp Bhd.

Amanah Harta PNB (AHP) will be taken private by Permodalan Nasional Bhd (PNB) via a selective unit redemption (SUR) exercise, where minority unitholders will receive RM1 per unit, a 50.3% premium over the 66.5 sen it last traded at. Wholly owned PNB unit Ombak Real Estate Sdn Bhd will be undertaking the SUR exercise, which will cost RM118.64 million. PNB and its parties in concert control a 46.07% stake in AHP.

Icon Offshore Bhd’s wholly-owned Bruneian unit Icon Bahtera (B) Sdn Bhd has secured a chartering contract from Zell Transportation Sdn Bhd (ZT) to supply offshore support vessels and chartering services, including the charter of Icon Valiant and Icon Aliza. While no contract value was provided, Icon Offshore said the contract for each vessel is for six years, with two extension options of one year each. The Icon Aliza will be starting its contract on Feb 1, 2021, while the Valiant will be for March 31, 2021. ZT holds a contract to provide vessels and chartering services to Brunei Shell Petroleum Sdn Bhd.

Sapura Energy Bhd’s net profit for the second quarter ended July 31, 2020 (2QFY21) rose 67% quarter-on-quarter to RM23.7 million from RM14.21 million. Quarterly revenue, however, fell to RM1.22 billion from RM1.35 billion. The higher net profit was on the back of improved operating metrics from its engineering and construction segment. On a year-on-year basis, the group has returned to the black from the net loss of RM116.3 million it posted in 2QFY20, though revenue came in lower than the RM1.93 billion it posted previously.

For the first six months of July 31 (6MFY21), it posted a net profit of RM37.95 million, compared with a net loss of RM225.41 million for 6MFY20, while revenue came in at RM2.58 billion versus RM3.56 billion previously.

Ta Win Holdings Bhd is setting up a healthcare arm, Ta Win Copper Biohealth Sdn Bhd (TWCBiohealth), to explore the downstream copper segment. It noted that copper, which has medical benefits, can be used in antimicrobial copper-alloy in the healthcare sector to prevent frequently contacted surfaces from serving as a medium to transfer microorganisms and minimise hospital-acquired infections.

Scientex Bhd posted a record high annual net profit for its financial year ended July 31, 2020 (FY20) of RM390.11 million, up 17% from the RM333.7 million in FY19, following growth in both its manufacturing and property development segments. Full-year revenue grew 8% y-o-y to RM3.52 billion from RM3.25 billion. It declared a final dividend of 13 sen per share, payable on Jan 13, 2021. This brings its FY20 dividend payout to 23 sen, from FY19’s 20 sen.  

For its fourth quarter ended July 31 (4QFY20), net profit grew by 6.5% y-o-y to RM142.05 million from RM133.4 million, with quarterly revenue rising to RM954.63 million from RM938.77 million.

The group also proposed a bonus share issuance involving two bonus shares for every one Scientex share held (two-for-one), as well as free warrants on the basis of one free warrant for every five shares held (one-for-five), at an entitlement date to be announced later.

Berjaya Corp Bhd founder and executive chairman Tan Sri Vincent Tan Chee Yioun said the diversified group has no interest in Sea Gamer Mall Sdn Bhd (SEAGM), from which two Malaysian executives were arrested by Malaysian authorities and are now pending extradition to the US to face criminal charges by the US Department of Justice. The two had been charged with abetting five Chinese hackers in alleged computer crimes and other related offences. Tan, in a statement, said he had been a passive investor in SEAGM for 13 years after being introduced to the company by a business associate.

Tan Choe Choe