KUALA LUMPUR (April 8): Based on corporate announcements and news flow today, companies that are in focus tomorrow may include: Genting Malaysia Bhd, FGV Holdings Bhd, Gas Malaysia Bhd and Notion VTec Bhd.
In a rare occurrence, Genting Malaysia Bhd said in a special section in the hotel and casino operator’s latest annual report that it is not prudent at this juncture to issue any statement on the group’s prospects given the unprecedented times of uncertainty due to the COVID-19 pandemic, according to the company’s latest annual report filed with Bursa Malaysia today.
The statement was issued based on the fact that many countries have imposed travel restrictions and constraints on the movements of people due to the outbreak of Covid-19 pandemic.
This resulted in closures of the group’s hotel and casino operations across the world, including Malaysia’s operation such as RWG (Resorts World Genting), Resorts World Awana, Resorts World Kijal and Resorts World Langkawi, which were affected due to the movement control order (MCO) implemented by the government since March 18 until April 14, barring any further extensions.
FGV Holdings Bhd has appealed against the Roundtable on Sustainable Palm Oil (RSPO)’s decision to re-suspend the certification of its Kilang Sawit Serting mill and as well as all certification processes for currently uncertified mills.
The RSPO Complaint Panel had on Jan 13 informed FGV that it would be suspending certification for the Serting mill and all other uncertified units as they found the plantation giant have flouted the RSPO’s rules on issues such as the treatment of migrant labour, after reviewing six audit reports on FGV.
FGV, however, said it has worked with the Sabah Immigration Department and several foreign embassies to document and regularise 6,158 workers by the end of June 2020.
It also emphasised that it has also engaged the United Nations International Organisation for Migration and other like bodies to ensure the improvement of working conditions and upholding of stringent labour practices across the supply chain.
Gas Malaysia Bhd is waiving gas charges for all Government hospitals in the country and offering a rebate of RM100 per low-cost residential customer from April to September 2020 to alleviate their burden due to the COVID-19 pandemic and Malaysia’s Movement Control Order (MCO) to curb the outbreak.
For retailers and hotels, Gas Malaysia said it will temporarily halt meter reading and issuance of bills from April to June 2020. The company said the measure will enable retailers and hoteliers to better manage their financial situation during this difficult time.
Precision parts manufacturer Notion VTec Bhd said its wholly-owned subsidiaries NotionVenture Sdn Bhd and Notion International (M) Sdn Bhd are allowed to operate during the MCO period set by the Ministry of International Trade and Industry (MITI).