F&N, Techbond Group Bhd, Notion VTec, DRB Hicom, Omesti and Aeon Credit

F&N, Techbond Group Bhd, Notion VTec, DRB Hicom, Omesti and Aeon Credit
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KUALA LUMPUR (April 9): Based on corporate announcements and news flow today, companies that may be in focus tomorrow include: Fraser & Neave Holdings Bhd, Techbond Group Bhd, Notion VTec Bhd, DRB Hicom Bhd, Omesti Bhd and Aeon Credit Service (M) Bhd

Fraser & Neave Holdings Bhd (F&N) said it is considering its options regarding the RM156 million acquisition of land in Perlis from MSM Perlis Sdn Bhd as the latter had indicated that it will not grant any extension of time to satisfy the conditions in the agreement.

Techbond Group Bhd said the commencement of operations at its new Vietnam factory has been postponed, as the COVID-19 outbreak has resulted in the delay of the issuance of certifications by the Vietnamese authorities. It said Vietnam had recently announced the implementation of its Social Distancing Order throughout the nation for a period of 14 days starting from April 1, and a possibility of extension beyond April 15.

Riding on the surge of demand for personal protective equipment (PPE) amid the COVID-19 pandemic, Notion VTec Bhd says it is venturing into the manufacturing of protective face shields and components related to medical ventilators. It said it has already made an order for the machinery to produce PPEs. Subject to approvals being obtained from all relevant authorities, it expects production to start by end-May at its main factory.

Meanwhile, DRB Hicom Bhd’s 50.1%-owned subsidiary Proton Holdings Bhd said it will be producing face shields to assist the frontliners in the fight against the COVID-19 pandemic, with the national automaker aiming to produce 60,000 units within 20 days.

Omesti Bhd has bagged a contract worth RM95.59 million from Telekom Malaysia Bhd (TM) to build a new business support systems platform. It added the renewal of the application software subscription for years three, four and five will be at an estimated price of RM104.99 million, subject to TM’s approval.

Aeon Credit Service (M) Bhd's net profit for the fourth quarter ended Feb 29, 2020 was flat at RM88.39 million versus RM87.61 million a year earlier, despite recording higher revenue, due to higher interest and tax expenses. Quarterly revenue grew 15% to RM413.28 million from RM359.54 million a year ago.

The group declared a final dividend of 14 sen per share — versus 22.35 sen in 4QFY19 — payable on July 16, bringing its full FY2020 payout to 36.25 sen, down from 44.6 sen in FY19.

For its full FY2020 ended Feb 29, the group posted a 17.7% decline in net profit to RM292.05 million from RM354.62 million in FY19, though revenue rose 17% to RM1.6 billion from RM1.37 billion.