KUALA LUMPUR (June 21): Based on corporate announcements and news flow today, companies that may be in focus on Monday (June 24) may include the following: Gamuda Bhd, Lingkaran Trans Kota Holdings Bhd, FGV Holdings Bhd, MyNews Holdings Bhd, HeiTech Padu Bhd, Mitrajaya Holdings Bhd and Tropicana Corp Bhd.

Putrajaya is offering to pay Gamuda Bhd and Lingkaran Trans Kota Holdings Bhd (Litrak) some RM4.5 billion to take over four toll highways in the Klang Valley. The amount is after deducting outstanding debts.

The government, in its offer, has fixed the purchase consideration at RM6.2 billion enterprise value, less any outstanding indebtedness as at completion of the deal.

Gamuda anticipates that the purchase consideration for these expressway concession companies to be RM1.23 billion for Kesas, RM870 million for Sprint, RM2.34 billion for Litrak, and RM60 million for SMART.

Based on the group’s effective interest in these toll highways, Gamuda expects its share to be RM2.36 billion. These offers remain valid until July 12.

FGV Holdings Bhd is continuing its transformation plan, with the group yielding greater operational improvements.

In a letter to shareholders, FGV chairman Datuk Azhar Abdul Hamid said despite posting a net loss for the first quarter ended March 31, 2019 (1QFY19), the group is on track to achieve its targets for the full year.

As of May, the group's fresh fruit bunch (FFB) production stood at 1.82 million tonnes and is on track to reach its FFB production annual target of 4.79 million tonnes.

In terms of FFB yield, Azhar said as of May, yields stood at 6.35 tonnes a hectare, with FGV on track to reach its yield target of 19.43 tonnes a hectare.

Meanwhile, the cost of production for crude palm oil (CPO) — excluding the mill — now stands at RM1,482 per tonne, which is close to its RM1,469 per tonne target.

As far as procurement savings are concerned, the group has saved RM60.7 million, which accounts for 40.5% of the savings target of RM150 million.

MyNews Holdings Bhd's net profit rose 16.4% to RM7.95 million in its second financial quarter ended April 30, 2019 (2QFY19) from RM6.83 million a year ago, which it attributed to the growth in the number of stores, as well as higher sales of the existing outlets.

Earnings per share was also up at 1.17 sen from one sen previously. Quarterly revenue jumped 41.2% to RM132.98 million from RM94.18 million in 2QFY18.

For the cumulative six months (1HFY19), MyNews achieved nearly 23% growth in net profit to RM16.19 million from RM13.17 million a year ago, while revenue leapt by 39.2% to RM256.48 million from RM184.31 million in 1HFY18.

HeiTech Padu Bhd has bagged a RM79.6 million contract with Bank Simpanan Nasional (BSN), which involves enterprise storage upgrade and technology refreshment works for the bank.

The contract is for three years. BSN will decide on the commencement date later.

Mitrajaya Holdings Bhd has bagged a RM90 million contract to refurbish a hotel in Putrajaya.

The group's subsidiary Pembinaan Mitrajaya Sdn Bhd received a letter of award from Idaman Putrajaya Sdn Bhd to undertake the refurbishment works at the Pullman Putrajaya Lakeside Hotel.

Mitrajaya said the 38-week contract is expected to positively contribute to the group's earnings and net assets for the current financial year ending Dec 31, 2019 (FY19).

Tropicana Corp Bhd has lodged an RM2 billion perpetual sukuk programme with the Securities Commission Malaysia to raise proceeds to refinance its existing obligations, as well as for working capital.

The programme allows for the issuance of unrated and senior ranking perpetual sukuk from time to time, with flexibility to issue secured or unsecured sukuk.

The aggregate outstanding nominal amount of the perpetual sukuk must, however, not exceed RM2 billion at any point in time, it added.

Tropicana said the proceeds are intended to be used to refinance existing financing or debt obligations, or for working capital, investments, capital expenditure or general corporate purposes.