KUALA LUMPUR (Nov 4): Based on corporate announcements and news flow today, companies in focus tomorrow (Nov 5) could include: Green Packet Bhd, MMAG Holdings Bhd, Cuscapi Bhd, Mesiniaga Bhd, DRB-Hicom Bhd and Seacera Group Bhd.
Some 35 million Green Packet Bhd shares crossed off-market. This represents 3.79% of the company's total 924.02 million shares.
According to Bloomberg data tracking trade of 300,000 shares or more, the shares were transacted in three blocks, worth a total of RM26.25 million.
The transactions were carried out at 75 sen a share, a premium of 2.74% from its current market price. It is not immediately known as to whom the parties involved in the transaction are.
On Friday (Nov 1), Green Packet had entered into a Memorandum of Understanding with China Mobile Group Device Co Ltd for both parties to explore opportunities in promoting and distributing each other’s products and services.
The Chinese firm is a subsidiary of state-owned China Mobile Communications Group Co Ltd, whose other subsidiaries include China’s largest telecommunications company, China Mobile Ltd.
MMAG Holdings Bhd is planning to dispose of a piece of freehold vacant industrial land in Klang for RM13 million in cash to Acter Carton Enterprise Sdn Bhd.
The proposed disposal is via a sale and purchase agreement (SPA) entered between its unit Active Trio Deluxe Sdn Bhd (ATDSB) and Acter Carton Enterprise.
The land, measuring about 18,381 sq m or 197,853.08 sq ft, has a net book value of RM13.04 million based on audited financial statements of ATDSB for the financial year ended March 31, 2019 (FY19), MMAG said in a filing with Bursa Malaysia.
The original cost of the land, which was bought on June 18 last year, stood at RM12.67 million.
The proceeds from the proposed disposal will be utilised for the purchase of two freehold parcels with buildings located at Kawasan Perusahaan Valdor, Pulau Pinang, the company said.
Point-of-sale systems provider Cuscapi Bhd has signed a memorandum of understanding (MoU) with Zando Technologies Co Ltd to collaborate in offering competitive solutions to end-customers in Myanmar’s food and beverage (F&B) industry.
Zando is a Myanmar-based company involved in systems integration and IT solutions for shopping complexes and F&B.
“The signing of the MoU with Zando will enable Cuscapi to explore business opportunities and expansion into Myanmar’s F&B market, to offer new C360 Engage Point of Sales and restaurant management solutions,” Cuscapi said.
Mesiniaga Bhd has bagged a contract worth RM16.05 million from the Employees Provident Fund (EPF) for the supply of computer hardware, software, maintenance and IT-related services.
The contract will commence on Nov 11 and the delivery of the computer hardware and software is expected to be completed within five months.
The warranty period, on the other hand, shall be for a duration of three years, with an option to extend the warranty period for the fourth and fifth year at a fixed price of RM250,000 per year, the company said.
The proposed transaction will have a positive effect on the company's net assets for the financial year ending Dec 31, 2019 (FY19), and is also expected to contribute positively to the company's earnings during the contract period.
DRB-Hicom Bhd said it has made a lodgement with the Securities Commission Malaysia (SC) for the establishment of a 30-year Islamic medium term notes programme of up to RM3.5 billion in nominal value (sukuk wakalah programme).
"The sukuk wakalah programme has been assigned a preliminary rating of A+IS, with a positive outlook, by Malaysian Rating Corp Bhd (MARC).
"This outlook revision to positive considers DRB-Hicom's improved consolidated credit profile, through streamlining businesses by divesting investments and non-core assets and in improving operating margins and strengthening liquidity position," the group said.
DRB-Hicom said the proceeds from the programme will be used to refinance the existing borrowings of the group, for capital expenditure and working capital requirements and to pay all fees and expenses in connection with the sukuk wakalah programme.
Four shareholders of Seacera Group Bhd have issued a notice of resolutions to be moved at the group's 34th annual general meeting (AGM) on Nov 29, entailing the nomination of six new directors to the board.
The shareholders are Ng Wai Yuan, Datin Sek Chian Nee, Low Swee Foong and Datuk Tan Wei Lian, holding a collective stake of 2.5% in the company.
According to a circular filed with Bursa Malaysia, the six directors comprise Rivzi Abdul Halim, Datin Ida Suzaini Abdullah, Marzuki Hussain, Tan Lee Chin, Ong Eng Taik and Ramnath R. Sundaram.
"All the proposed directors have given their consent to act as directors and declare that they are not disqualified from being appointed as directors of the company," the filing said.