FGV, Esthetics, BAuto, Yinson, SYF Resources, PetDag and PChem

FGV, Esthetics, BAuto, Yinson, SYF Resources, PetDag and PChem
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KUALA LUMPUR (March 16): Based on corporate announcements and news flow today, companies in focus on Tuesday (March 17) may include: FGV Holdings Bhd, Esthetics International Group Bhd (EIG), Bermaz Auto Bhd (BAuto), Yinson Holdings Bhd, SYF Resources Bhd, Petronas Dagangan Bhd (PetDag) and Petronas Chemicals Group Bhd (PChem).

FGV Holdings Bhd’s subsidiary, FGV Prodata Systems Sdn Bhd (FGV Prodata), has secured a project to supply and install telecommunication towers and ancillaries to the Malaysian Communications and Multimedia Commission (MCMC) under its National Fiberisation and Connectivity Plan (NFCP). The towers are meant for the provisioning of public cellular services under the NFCP, as part of MCMC's efforts to plan and implement universal service provision in Malaysia.

Esthetics International Group Bhd (EIG) has been granted a four-and-a-half-year extension of its distributorship with US-based premium skincare provider Dermalogica Inc.

EIG said its wholly-owned subsidiary EIG Dermal Wellness (M) Sdn Bhd will continue to be the exclusive distributor for Dermalogica skin care products in six countries, namely Malaysia, Singapore, Indonesia, Hong Kong, Thailand and Brunei until Dec 31, 2024, with an option to extend or renew further.

Mazda distributor Bermaz Auto Bhd (BAuto) saw its net profit slump 66.5% to RM27.15 million for the third quarter ended Jan 31, 2020 (3QFY20) largely due to lower profit contribution from domestic operations and lower share of profit contribution from its associate company, Mazda Malaysia Sdn Bhd (MMSB). Quarterly revenue shrunk nearly 40% to RM467.46 million versus RM778.13 million a year ago, due to lower sales volume from domestic and the Philippine operations. The group declared a third interim single-tier dividend of 1.45 sen per share, payable on May 28.

Yinson Holdings Bhd said its Vietnam joint venture (JV) PTSC Asia Pacific Pte Ltd (PTSC AP) has entered into a bareboat charter contract worth US$122.87 million (RM528.34 million) with Petrovietnam Technical Services Corp (PTSC) commencing from July 1, 2017 to June 30, 2021. The contract between PTSC AP and PTSC is for the charter of PTSC Lam Son floating production, storage and offloading vessel for the petroleum operations within the Lam Son field offshore Vietnam.

SYF Resources Bhd is selling a parcel of freehold land it owns in Semenyih via a wholly-owned subsidiary for RM33.65 million, which will book it an estimated net gain of RM1.37 million. The parcel, which measures 3.47ha and is held under Giat Armada Sdn Bhd, is being sold to Pacific Parkland Sdn Bhd (PPSB). Of the disposal proceeds raised, the company will use RM20 million to repay part of its existing bank borrowings and RM10.95 million as working capital.

Petronas Dagangan Bhd (PetDag) and Petronas Chemicals Group Bhd (PChem) have both clarified that their operations and business have not been impacted by the fire incident that occurred within the Pengerang Refinery Complex on March 15. The incident. which occurred at the Diesel Hydro Treating Unit (DHT) within the Pengerang Refinery Complex, claimed five lives.