Boustead Holdings, Boustead Heavy Industries, Boustead Plantations, Kerjaya Prospek, RHB Bank, T7 Global, PetChem, Oceancash, AirAsia, IHH, Permaju, Vsolar, Media Prima, Rev Asia, Brahim's and APFT

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KUALA LUMPUR (Sept 1): Based on corporate announcements and news flow today, companies that may be in focus tomorrow include Boustead Holdings Bhd, Boustead Heavy Industries Corp Bhd, Boustead Plantations Bhd, Kerjaya Prospek Group Bhd, RHB Bank Bhd, T7 Global Bhd, Petronas Chemicals Group Bhd, Oceancash Pacific Bhd, AirAsia Group Bhd, IHH Healthcare Bhd, Permaju Industries Bhd, Vsolar Group Bhd, Media Prima Bhd, Rev Asia Bhd, Brahim's Holdings Bhd and APFT Bhd.

Boustead Holdings Bhd has denied claims that it is attempting to block a proposed privatisation exercise of the company by its major shareholder, the Armed Forces Fund Board (LTAT). Boustead said it has yet to receive any offer from LTAT.

Meanwhile, Boustead Heavy Industries Corp Bhd's said its joint-venture firm BHIC AeroServices Sdn Bhd (BHICAS) has been granted a further three-year extension of the contract to maintain and supply spares for Royal Malaysian Air Force EC725 helicopters via in-service support. BHICAS has received the extended letter of award from the Ministry of Defence, with an additional ceiling contract value of RM113.2 million, bringing the total ceiling contract value to RM548.2 million.

In another development, Boustead Plantations Bhd has appointed Datuk Ismail Lasim, Umno assemblyman for Juasseh, as its new independent non-executive chairman with immediate effect, while Sabah Umno Youth chief Abdul Aziz Julkarnain was appointed its independent non-executive director, effective today.

Kerjaya Prospek Group Bhd has bagged a RM203.7 million contract from Gamuda Bhd to undertake the construction of a residential and commercial development project in Gamuda Cove. This brings Kerjaya Prospek's total contract wins to date to RM1.2 billion, while its outstanding order book now stands at RM3.6 billion.

RHB Bank Bhd has received Bank Negara Malaysia's green light to acquire the entire equity interest of RHB Nominees Singapore Pte Ltd, Summit Nominees Pte Ltd and RHB Research Institute Singapore Pte Ltd. RHB is also acquiring the client coverage team, research and advisory services in relation to capital market services and share margin accounts from RHB Securities Singapore, which will be carried on and continued by the bank's branch in Singapore. The group has entered into an agreement with RHB Securities Singapore in respect of the transfer of assets and businesses for S$20.57 million in cash.

Oil and gas service provider T7 Global Bhd has inked a memorandum of agreement (MOA) with Japanese shipbuilding giant Mitsui E&S Shipbuilding Co Ltd to explore new business opportunities on the supply of ships to the Vietnamese Navy and Coast Guard. The MOA, in effect for three years, will also provide opportunities for the parties to collaborate in the ship or vessel business in Vietnam.

Petronas Chemicals Group Bhd (PetChem) is collaborating with PT AKR Corporindo Tbk to distribute chemicals across Indonesia, both companies said. Both PetChem and PT AKR's respective subsidiaries — Petronas Chemicals Marketing Sdn Bhd and PT AKR Niaga Indonesia — recently signed an agreement to formalise the joint venture.

Oceancash Pacific Bhd is embarking on an expansion to double its production capacity for non-woven materials used in the production of personal protective equipment to 16,000 tonnes per annum, with an estimated completion time of less than 18 months. The estimated capital expenditure for the project will be RM40 million (for land and machinery) which will be funded through internal funds, placements and bank borrowings. Oceancash also proposed a share placement, entailing the issuance of up to 24.5 million new shares, representing 10% of the total number of its issued shares, to investors to raise up to RM21.2 million, which will mainly be used to purchase one set of spunmelt non-woven machinery to produce non-woven fabric (RM17.9 million) and for working capital (RM3 million).

Low-cost carrier AirAsia Group Bhd is introducing counter check-in fees in selected countries and cities effective today, following the deployment of its contactless check-in kiosks and enhanced mobile app features recently. The fees are RM20 per guest for domestic flights and RM30 per guest for international flights. However, guests can avoid paying these fees by opting to check-in using the website, mobile app or airport kiosks.

After nearly a year, IHH Healthcare Bhd has completed its acquisition of Prince Court Medical Centre for RM1.02 billion. Prince Court is now the 16th hospital under IHH in Malaysia.

Permaju Industries Bhd has teamed up with Vsolar Group Bhd, via a joint venture agreement, for a RM217 million large-scale solar power project in Seremban. The project consists of terms including a concession period under a power purchase agreement with Tenaga Nasional Bhd, spanning 21 years starting from the commercial operation date by Dec 31, 2023.

Media Prima Bhd has bought the remaining stake in home shopping company CJ Wow Shop. The acquisition is part of the group's transformation plan to tap into the strong prospects of the home shopping and e-commerce industry.

Rev Asia Bhd said it will be acquiring 100% stake in iMedia Asia Sdn Bhd from Catcha Investments Ltd and iCreative Asia Sdn Bhd for RM10 million as part of its regularisation plan, aiming to help the ACE Market-listed group come out of the Guidance Note 2 status. The purchase consideration will be satisfied by Rev Asia issuing 40 million new shares at 25 sen apiece.

Brahim's Holdings Bhd's associate company Brahim's SATS Food Services Sdn Bhd (BSFS), which is involved in the in-flight catering business, is exploring the non-aviation segment to ensure business continuity. BSFS has been struggling ever since the Movement Control Order was enforced on March 18, forcing the company to slash its kitchen workforce by half through a mutual separation scheme.

Bursa Malaysia Securities Bhd has publicly reprimanded flight training provider APFT Bhd and six of its former directors for the inaccurate reporting of its financials for the second quarter ended April 30, 2017, on top of late announcement of the group's Practice Note 17 status. The six former directors have also been slapped with a collective fine of RM475,000.

Edited by S Kanagaraju