KUALA LUMPUR (Aug 13): Based on corporate announcements and news flow today, stocks in focus tomorrow may include the following: Guan Chong Bhd, Mycron Steel Bhd, Mynews Holdings Bhd, Malton Bhd, Pavilion REIT, TH Plantations Bhd and Vivocom.
Better margins nearly doubled the net profit of Guan Chong Bhd to a record RM43.03 million in its second quarter ended June 30, 2018 (2QFY18) from RM22.88 million.
Quarterly revenue rose 1.92% to RM491.58 million, from RM482.03 million previously, boosted by a 28% increase in cocoa products sales volume. It declared a first interim dividend of two sen per share, payable on Sept 28.
For the first half of FY18, the cocoa product manufacturer saw net profit jump 187.62% to RM82.36 million from RM28.64 million in 1HFY17 boosted by increased sales volume and economies of scale.
Half-year revenue however declined 9.19% to RM1.01 billion from RM1.11 billion on lower selling prices of its cocoa ingredients.
Mycron Steel Bhd managing director Azlan Abdullah has been re-designated as non-independent non-executive director, effective last Friday (Aug 10).
The 60-year-old had served as managing director in the steelmaker since March 30, 2004. He is also the managing director of Melewar Industrial Group Bhd, which has a 71.3% stake in Mycron Steel.
Mynews Holdings Bhd is disposing of two units of property in Kepong to Samuel Dang Kuok Wee and Dang Kuok Ian — sons of its non-independent and non-executive director Dang Tai Hock — for RM3.4 million.
Tai Hock is the elder brother of Mynews chief executive officer Dang Tai Luk and deputy chief executive officer Dang Tai Wen. The two properties served as Mynews’ corporate office before it was relocated to Kota Damansara in May.
Malton Bhd, chaired and substantially owned by Tan Sri Desmond Lim Siew Choon, has formally invited Pavilion REIT — also linked to the property tycoon via his chairmanship and substantial stake — to participate in the ownership of Pavilion Bukit Jalil which is currently under development.
MTrustee Bhd, the trustee for Pavilion REIT, had accepted the invitation for both parties to enter into a non-disclosure agreement to commence due diligence, discussions on method of participation and negotiate relevant terms and conditions.
TH Plantations Bhd has appointed Lembaga Tabung Haji’s newly-appointed group managing director and chief executive officer (CEO) Datuk Seri Zukri Samat as its non-independent, non-executive chairman effective today.
He replaces Tan Sri Ab Aziz Kasim, who retired on May 14. Prominent roles previously taken by Zukri, 60, included managing director for Khazanah Nasional Bhd and Pengurusan Danaharta Nasional Bhd.
Vivocom International Holdings Bhd has bagged an RM12.6 million contract from CRCC Malaysia Bhd to supply labour, tools and equipment for the construction of reinforced concrete structure and structural steel works for an office tower here.
It has received and accepted the letter of award for the project, which is expected to be completed by May 30 next year.