KUALA LUMPUR (Oct 18): Based on corporate announcements and news flow today, stocks in focus on Friday (Oct 19) may include Gabungan AQRS Bhd, PUC Bhd, Country Heights Holdings Bhd, Maxis Bhd, JAKS Resources Bhd and Bioalpha Holdings Bhd.
Gabungan AQRS Bhd posted an 80.7% spike in net profit to RM17.05 million in the third quarter ended Sept 30 from RM9.43 million a year ago, in tandem with higher revenue as its projects moved to more advanced stages of construction.
Earnings per share rose to 3.64 sen from 2.32 sen in 3QFY17, while revenue nearly doubled to RM159.27 million from RM80.45 million, mainly from work progress for the Sungai Besi – Ulu Kelang (SUKE) Highway and Pusat Pentadbiran Sultan Ahmad Shah (PPSAS) projects.
In a bourse filing, the group expressed confidence in its ability to compete under the new Pakatan Harapan Government’s shift to more open tenders for public projects “given its strong technical capability, a good track record and a solid financial position”.
PUC Bhd’s Memorandum of Understanding with point-of-sale services provider Bersian Technology (M) Sdn Bhd to implement a cross-marketing collaboration, has lapsed.
“Following the MoU expiry, the parties have mutually agreed that neither party shall have any claim whatsoever, directly or indirectly, against the other in respect of the MoU,” the group said in a filing today.
It added that the expiry will not have any material financial impact on PUC or its subsidiaries.
Country Heights Holdings Bhd’s wholly owned subsidiary Mines International Exhibition Centre Sdn Bhd (MIEC) has roped in a partner as it looks to develop an auto lifestyle centre, as well as conduct other auto industry-related businesses.
In a filing with Bursa Malaysia, Country Heights said MIEC has entered into a Memorandum of Understanding (MoU) with AsiaAuto Venture Sdn Bhd (AAV) to form a new company (NewCo) in which MIEC and AAV will each have an equity stake.
The company said this is in line with the group's business strategy and it is expected to contribute positively towards the growth of the group.
Maxis Bhd’s net profit for the third quarter ended Sept 30, 2018 fell to RM513 million or 6.6 sen per share, from RM564 million or 7.2 sen per share in the same quarter a year earlier, as revenue slipped to RM2.26 billion from RM2.3 billion.
The group declared a third interim dividend of 5 sen per share to be paid on Dec 27.
The group's net profit for the cumulative nine months ended Sept 30 dipped to RM1.51 billion from RM1.64 billion a year ago, while revenue fell to RM6.75 billion from RM7.04 billion in the previous year.
JAKS Resources Bhd is looking to renewable energy as a new source of revenue for the group, which currently has businesses in power generation, construction and property development.
JAKS group chief financial officer Steven Ang said the group would be looking at projects focused on solar and hydro power, particularly in Vietnam, Indonesia and Malaysia.
Integrated health supplements group Bioalpha Holdings Bhd aims to increase its export sales to China by partnering with Jinrui Fortune Holding Group.
Its subsidiary Bioalpha International Sdn Bhd inked a Memorandum of Understanding with Jinrui to explore areas of collaboration.
Jinrui is a China-based conglomerate involved in traditional Chinese medicine. It operates several medical halls across China, with a target to open 1,000 halls by 2025.