KUALA LUMPUR (Aug 17): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Aug 18) include Genting Malaysia Bhd, Teo Seng Capital Bhd, Pintaras Jaya Bhd, Muda Holdings Bhd, Boustead Holdings Bhd, KLCC Stapled Group, Sime Darby Bhd, Duopharma Biotech Bhd, Gas Malaysia Bhd, Ajinomoto (Malaysia) Bhd, GUH Holdings Bhd, DRB-Hicom Bhd, Willowglen MSC Bhd, Fima Corp Bhd, Iqzan Holding Bhd and Apollo Food Holdings Bhd.
Genting Malaysia Bhd's (GenM) 49%-owned associate Genting Empire Resorts LLC has formed a rare consortium with rival casino operators — American Wagering Inc, PointsBet New York LLC, Rush Street Interactive NY LLC and WSI US LLC — to bid for a mobile sports betting licence in the US state of New York.
Teo Seng Capital Bhd reported a net loss of RM10.53 million in its second quarter of financial year 2021 (2QFY21), compared with a net profit of RM3.18 million in the same quarter last year, due to lower poultry revenue contribution and higher raw material commodity prices. Quarterly revenue fell 2.26% to RM118.02 million, from RM120.75 million a year ago.
Piling and foundation specialist Pintaras Jaya Bhd has bagged three new piling contracts worth approximately RM142 million (S$45.5 million) in Singapore. The contracts, which were awarded to its indirect wholly-owned subsidiary Pintary Foundations Pte Ltd, will commence between September and November this year, with contract periods varying from nine to 15 months.
Muda Holdings Bhd posted a net profit of RM24.35 for its 2QFY21 ended June 30 2021, more than double the RM10.49 million from a year ago. This came on the back of its revenue increasing 47% to RM399.77 million from RM272.59 million previously, attributed to higher sales volume for industrial paper and paper docking products.
Conglomerate Boustead Holdings Bhd is exiting its venture in University Nottingham Malaysia (UNM) as part of its Reinventing Boustead Strategy by selling its 66.41% controlling stake in UNM and the campus in Semenyih, Selangor for £23.5 million (approximately RM137 million) to University of Nottingham, United Kingdom.
KLCC Stapled Group's net profit for its 2QFY21 ended June 30, 2020 rose 4.83% to RM144.01 million from RM140.46 million a year ago, as revenue grew 4.83% to RM280.17 million from RM267.25 million on the back of improved retail and hotel business performance in April.
Sime Darby Bhd's 36.63%-owned joint venture in China, Weifang Port Services Co Ltd, said it is no longer required to pay additional interest of 187 million yuan (RM122.33 million) to CCCC Tianjin Dredging Co Ltd over the late payment of an instalment sum. It has been issued a case closing notice after CCCC Tianjin confirmed that the joint venture company had fulfilled its obligations under two settlement agreements.
Pharmaceutical firm Duopharma Biotech Bhd's net profit grew 4.5% to RM15.39 million in its 2QFY21 ended June 30, 2021, from RM14.73 million a year earlier, on higher sales in the consumer healthcare and public healthcare sectors. Quarterly revenue rose 8.5% to RM155.44 million, from RM143.33 million a year earlier.
Gas Malaysia Bhd's net profit for its 2QFY21 ended June 30, 2021 surged 39.7% to RM62.34 million from RM44.62 million a year ago, as it recognised a revenue cap adjustment and sold more gas in the quarter under review. This rise in net profit came despite quarterly revenue falling 10.7% to RM1.38 billion, from RM1.54 billion in the previous year, attributed to the lower average natural gas tariff in the current quarter.
Ajinomoto (Malaysia) Bhd's net profit was nearly flat at RM15.21 million for its 1QFY22 ended June 30, 2021, against RM15.06 million a year ago, due to higher operating expenses and income tax expenses. However, revenue growth was strong as quarterly revenue expanded 21% to RM115.07 million, from RM95.08 million the previous year.
Penang-based GUH Holdings Bhd announced today that its subsidiary, GUH Circuit Industry (PG) Sdn Bhd, has been ordered by the Ministry of Health to shut down from Aug 13 to 21 to undertake deep sanitisation at its factories and hostels, after positive Covid-19 cases were detected among its production workers.
DRB-Hicom Bhd booked a net loss of RM217.5 million in its 2QFY21 ended June 30, 2021, as its automotive and services division fell into the red, but was still an improvement from its reported net loss of RM306.08 million a year ago. Quarterly revenue rose 30.8% year-on-year to RM2.62 billion from RM2 billion, led by higher automotive revenue contribution although services and properties contribution lagged.
Willowglen MSC Bhd's wholly-owned subsidiary Willowglen Services Pte Ltd has bagged two contracts worth a total of RM24.36 million. The first contract worth RM16.70 million is for the provision of design, supply, instal, testing and commissioning of a security system, while the second contract worth RM7.66 million is for the supply and delivery of sub-station intrusion detection system devices and removal of disposal works.
Fima Corp Bhd announced that its independent non-executive director Datuk Bazlan Osman will be redesignated as the group's chairman, replacing Datuk Adnan Shamsuddin, who is retiring, upon the conclusion of the forthcoming annual general meeting.
Bursa Malaysia Securities has publicly reprimanded Iqzan Holding Bhd over a major deviation between its unaudited net profit of RM26,000 and audited net loss of RM3.23 million for the nine-month period ended March 31, 2020. The company is required to carry out a limited review, performed by its external auditors, for four quarterly reports commencing no later from the quarterly report for the financial period ending Sept 30, 2021.
Confectionary manufacturer Apollo Food Holdings Bhd said its Johor manufacturing facility has resumed operations, after a temporary suspension as a measure to prevent the spread of Covid-19. The group said the Ministry of Health approved the resumption of operations of its wholly-owned subsidiary Apollo Food Industries (M) Bhd's premises effective yesterday (Aug 16) after thorough disinfection was carried out.