KUALA LUMPUR (June 1): Based on corporate announcements and news flow today, companies that may be in focus on Tuesday (June 2) may include: Berjaya Corporation Bhd, Berjaya Food Bhd, Eversendai Corp Bhd, K-One Technology Bhd, Malayan United Industries Bhd, Parkson Holdings Bhd, Pintaras Jaya Bhd, Sime Darby Plantation Bhd and UMW Holdings Bhd.
Berjaya Corporation Bhd (BCorp) will be taking over home electronic appliances distributor Singer (M) Sdn Bhd, said sources. They told theedgemarkets.com that the transaction might involve the issuance of BCorp shares. Singer is currently owned by BCorp’s controlling shareholder Tan Sri Vincent Tan. BCorp has requested for a trading suspension of its shares for today and tomorrow pending the announcement of a material transaction.
Berjaya Food Bhd (BFood), which runs the Kenny Rogers Roasters (KRR) and Starbucks chains in Malaysia, reported a net loss of RM1.39 million for its third quarter ended March 31, 2020, as it was adversely affected by the Covid-19 pandemic. Quarterly revenue stood at RM158.6 million. There were no comparison numbers for the previous year’s corresponding period, due to a change in its financial year end from April 30 to June 30. BFood last reported a loss-making quarter for the third quarter ended Jan 31, 2018, with a net loss of RM10.85 million, no thanks to a one-off loss arising from the disposal of the group's KRR operations in Indonesia.
Eversendai Corp Bhd’s wholly-owned unit Eversendai Offshore has secured two European offshore wind renewable energy projects worth a total of RM186 million combined from Petrofac Ltd. This brings its outstanding construction order book to an all-time high of RM2.88 billion. The first project is to fabricate and construct an offshore wind substation platform topside, jacket and piles for an offshore wind farm in the UK, while the other project is to fabricate and construct jacket and piles for an offshore wind substation platform in the Netherlands.
K-One Technology Bhd has been awarded a licence to manufacture and distribute low-cost breathing ventilators developed by NASA Jet Propulsion Laboratory (NASA JPL) for use by Covid-19 patients. This comes less than two months after it announced a plan to venture into the conventional ventilator market, as part of its plan to expand its portfolio. NASA JPL is a US federal funded research and development centre managed for the National Aeronautics & Space Administration (NASA) by the California Institute of Technology (Caltech).
Malayan United Industries Bhd (MUI) has clarified that its 98.21%-owned subsidiary Metrojaya Bhd continues to operate its retailing business as usual through various subsidiaries including MJ Department Stores Sdn Bhd's outlets and EIC Clothing Sdn Bhd’s East India Company specialty store. A day earlier, MUI said there had been some confusion over the news of the winding-up of Metrojaya Department Stores Sdn Bhd and East India Company Clothing (Malaysia) Sdn Bhd, which are dormant subsidiaries of Metrojaya Bhd.
Parkson Holdings Bhd's 54.97%-owned Hong Kong-listed unit has inked a 20-year tenancy agreement for a commercial space measuring 54,000 sq m in Wuzhou City, China. The agreement was inked between Parkson Retail Group Ltd’s indirect wholly-owned Nanning Brilliant Parson Commercial Co Ltd and landlord Wuzhou Sankee Investment Co Ltd.
Pintaras Jaya Bhd has bagged a piling contract worth S$39 million (RM119 million) in Singapore. The 10-year contract will commence in August. In March, Pintaras Jaya had announced that it had won several piling contracts worth a combined RM116 million, with contract periods of between three and eight months.
Sime Darby Plantation Bhd's indirect wholly-owned unit Ultra Oleum Pte Ltd has disposed of its entire 52% stake in Verdant Bioscience Pte Ltd to SIPEF and Ackermans & van Haaren NV for US$8.61 million (RM37.4 million)
UMW Holdings Bhd has announced a change in its boardroom after the sudden passing of its president and group CEO Badrul Feisal Abdul Rahim, 50, yesterday had left the positions vacant in the diversified group.