KUALA LUMPUR (April 13): Based on corporate announcements and news flow today, companies in focus tomorrow (April 14) may include: Axiata Group Bhd, Kejuruteraan Asastera Bhd (KAB), K-One Technology Bhd, CCK Consolidated Holdings Bhd, AT Systematization Bhd and TA Global Bhd.
Axiata Group Bhd has settled the US$185 million (RM800.2 million) demanded by the Nepalese government as outstanding capital gains tax, along with another 990.3 million Nepalese rupees (RM35.3 million) in interest, in relation to the group’s purchase of an 80% stake in Ncell Private Ltd.
Axiata said it had made the payment “under protest, and expressly without prejudice” to the position of its unit Axiata Investments (UK) Ltd (Axiata UK) and Ncell in international arbitration proceedings initiated by them against the Nepal government.
ACE Market-listed Kejuruteraan Asastera Bhd (KAB) has proposed to transfer its listing to the Main Market of Bursa Malaysia, given it has met the profit track record requirements.
The group said it has an aggregated consolidated net profit of approximately RM25.8 million for the past three financial years, which has exceeded the RM20 million profit requirement for a Main Market listing.
K-One Technology Bhd has joined the growing number of companies venturing into making products that are essential in the fight against the Covid-19 pandemic.
It said it has recently obtained open source design files of a ventilator model released to interested parties by a multinational in the industry. It is now studying the ventilator design and intends to build a prototype. It expects to commence manufacturing as soon as permissible, targeting the third quarter of 2020, subject to getting the necessary approvals from the relevant authorities.
CCK Consolidated Holdings Bhd has proposed a first and final dividend of 1.25 sen a share for the financial year ended Dec 31, 2019 (FY19).
AT Systematization Bhd's unit AT Engineering Solution Sdn Bhd will be partnering with China’s Shanghai JieNaXin Mech & Elec Equipment Co Ltd (JNX) to collaborate in building disinfectant chambers to fight against Covid-19.
In light of the outbreak of the Covid-19, real estate developer TA Global Bhd is temporarily closing six of its hotels. They include Aava Malacca Hotel which suspended operations since March 19, after the government imposed the Movement Control Order. The other hotels are located outside Malaysia — two in Thailand, two in Canada and one in Australia.