KUALA LUMPUR (April 16): Based on corporate announcements and news flow today, companies in focus on Monday (April 19) may include: Apex Equity Holdings Bhd, Tropicana Corp Bhd, Top Glove Corp Bhd, Berjaya Corp Bhd, Berjaya Land Bhd, Magna Prima Bhd, Transocean Holdings Bhd, Malaysia Airports Holdings Bhd, Capitaland Malaysia Mall Trust, Central Global Bhd, UEM Edgenta Bhd, MAG Holdings Bhd and 7-Eleven Malaysia Holdings Bhd.
Apex Equity Holdings Bhd will not be merging its stockbroking arm JF Apex Securities Bhd with Mercury Securities Sdn Bhd. The group announced that it, alongside JF Apex Securities, was informed by Mercury that the latter would not be seeking an extension for the merger, which has been mutually extended for 10 times over two years.
Tropicana Corp Bhd sold 1.85 million shares or about 0.02% in Top Glove Corp Bhd at a loss. The stocks were sold for RM9.98 million, or an average selling price of RM5.395 per share. The investment cost of the block of Top Glove shares was RM12.59 million, or RM6.805 per share. The glove maker’s share price has recently rebounded from a low of RM4.52 last month to close at RM5.57 today. Following the share sale, the property developer still holds 12.47 million shares, or 0.16%, in Top Glove via its wholly-owned unit Desiran Realiti Sdn Bhd.
Meanwhile, Top Glove is currently in the third stage of the US Customs and Border Protection (US CBP) Withhold Release Order (WRO) modification process. Managing director Datuk Lee Kim Meow said the company has remediated the remaining five forced labour indicators, pending verification by UK based ethical trade consultant firm, Impactt.
Berjaya Corp Bhd boss Tan Sri Vincent Tan has continued to trim his stake in Berjaya Land Bhd (BLand). BLand announced that the tycoon, via Berjaya Sompo Insurance Bhd, sold 3.7 million shares in BLand in the open market on April 14. The latest block of shares, representing an indirect stake of 0.075%, was sold at 36.33 sen apiece. Just last week, BLand announced he sold 12.8 million shares via Berjaya Sompo (2.08 million via open market) and Berjaya Hills Resort Bhd (10.8 million shares via direct deal). Tan's indirect stake in BLand now stands at 4.15 billion shares representing 84.27% in BLand. Coupled with his direct stake of 95.53 million shares — equivalent to a 1.94% stake — Tan now controls 3.87 billion shares in BLand, or a cumulative stake of 86.21% -- down from 86.55% as at March 23.
Magna Prima Bhd’s independent auditor has raised a material uncertainty related to the property developer’s ability to continue as a going concern. Messrs HLB Ler Lum said the group’s and company’s current liabilities exceeded its current assets by RM108.37 million and RM309.19 million respectively, as of the financial year ended Dec 31, 2020 (FY20). It also noted that the group and the company incurred a net loss of RM152.2 million and of RM17.78 million respectively for FY20
Transocean Holdings Bhd, whose upper limit of its share price has been frozen at RM1.53 after a strong rally, is proposing a second share placement one day after the first proposed share placement. Transocean said the second proposed share placement of up to 10% of the existing issued shares of the company. It entails the issuance of up to 4.509 million new shares after taking into account the first placement. The fresh capital raised will be used for upgrading the logistics business segment’s information technology infrastructure and system, according to the filing. The stock exchange froze its upper limit price at RM1.53 after the stock hit limit up for two consecutive trading days.
Malaysia Airports Holdings Bhd (MAHB) network of airports registered 5.9 million passenger movements in the first quarter of this year (1Q21) down 76.8% from the same period last year, due to the re-imposition of the Movement Control Order (MCO) effective Jan 13 in Malaysia. Domestic passenger movements came in at 4.4 million, down 68% year-on-year while international passenger movements were at 1.5 million, down 87.3% y-o-y. The group's total aircraft movements decreased by 68% y-o-y to 75,789 with domestic aircraft movements declining 63.8%, while international aircraft movements fell 75.1%.
Capitaland Malaysia Mall Trust (CMMT) saw its net property income (NPI) for the first quarter ended March 31, 2021 (1QFY21) drop 26.79% to RM24.92 million from RM34.03 million in the preceding quarter. CMMT said its gross revenue came in 15.36% lower at RM56.66 million from RM66.94 million in 4QFY20, mainly due to lower gross rental income. The property trust declared a distribution per unit of 0.36 sen, compared with 0.98 sen declared a year earlier. On a year-on-year basis, CMMT saw its NPI decline 36.7% to RM24.92 million from RM39.36 million in 1QFY20. Gross revenue was down 24% at RM56.66 million from RM74.53 million.
Central Global Bhd (CGB) said its unit has secured a contract worth RM100.54 million to upgrade the water supply system in Lahad Datu, Sabah, known as 'Projek Menaiktaraf Sistem Bekalan Air Di Lahad Datu Fasa 1'. According to the group, the scope of works encompasses the supply of labour, materials, machinery and equipment relating to the upgrading of water supply infrastructure which connects Kg Belacon to the water treatment plant located at Jalan Dam, and connecting to the main water reservoir at Lahad Datu. The contract shall commence on April 28, 2021, and will be completed on June 24, 2023, the group said.
UEM Edgenta Bhd has strongly denied allegations of improper work planning and resources allocation, as well as other claims against its subsidiary, Edgenta Propel Bhd (EPB). It said EPB, having consulted its solicitors Messrs Zul Rafique & Partners, is of the view that this suit is totally without merit and will robustly defend the said claim. The civil suit concerns EPB's Klang Valley Mass Rapid Transit's Putrajaya Line (MRT2) project for a protection & relocation of utilities (relocation of telecommunications works) subcontract work in 2016.
MAG Holdings Bhd has denied connections to four men who were arrested for beating up two bodyguards who were fasting. The group clarified that Chung Chee Yang, who was identified as one of the suspects in viral postings, is not part of the company’s management or its board of directors. He was only a shareholder for a short period in 2019 and has ceased to be a shareholder since then.
7-Eleven Malaysia Holdings Bhd is proposing to establish an RM600 million medium-term note programme. The convenience store operator said the programme was lodged with the Securities Commission Malaysia (SC) on April 15. The proceeds will be used to refinance any existing borrowings, capital expenditure (capex), investments, working capital, corporate purposes, as well as to defray the expenses for the programme.