KUALA LUMPUR (July 21): Based on corporate announcements and news flow today, companies in focus on Thursday (July 22) may include Haily Group Bhd, Poh Huat Resources Holdings Bhd, Malaysia Airports Holdings Bhd, Kejuruteraan Asastera Bhd, Hextar Global Bhd, AirAsia Group Bhd, Sapura Energy Bhd, Favelle Favco Bhd, Axis Real Estate Investment Trust, MR DIY Group (M) Bhd, Green Packet Bhd and INIX Technologies Holdings Bhd.
Haily Group Bhd's share price rose about 20% past 80 sen in Bursa Malaysia morning trade today from the builder's initial public offering (IPO) price of 68 sen in conjunction with its listing on the ACE Market. The IPO involved a public issue of 30 million new shares and an offer for sale of 18 million existing shares in the company at 68 sen each. Haily raised RM20.4 million for business expansion from the public issue of 30 million new shares at 68 sen each.
Poh Huat Resources Holdings Bhd has temporarily halted the operations of its main subsidiary in Vietnam. The furniture maker said Vietnam-based Poh Huat Furniture Industries Vietnam Joint Stock Co's factories in the Binh Duong province and Dong Nai province have paused production activities in compliance with the Vietnamese government's orders to close non-essential businesses to contain the spread of the Covid-19 virus in the nation.
Malaysia Airports Holdings Bhd (MAHB) has inked a tripartite memorandum of understanding (MoU) with Skyports and Volocopter to conduct a feasibility study for the deployment of vertiport infrastructure in Malaysia. Skyports is the world-leading designer and operator of vertiport infrastructure for electric air taxis, while Volocopter is the pioneer of urban air mobility. Under the MoU, the parties will combine their distinct aerospace and aviation expertise to conduct a feasibility study, examining suitable vertiport solutions to enable the safe take-off and landing of passenger electric vertical take-off and landing vehicles.
Kejuruteraan Asastera Bhd (KAB) announced today that its wholly-owned subsidiary KAB Technologies Sdn Bhd has entered into a binding term sheet with Vodex Technical Services Sdn Bhd to expand its mechanical work division. KAB said that under the binding term sheet, a special-purpose vehicle named TVT Link Tech Solutions Sdn Bhd was formed.
Hextar Global Bhd today entered into a consortium agreement with Dagang NeXchange Bhd's major shareholder Arcadia Acres Sdn Bhd besides Fass Payment Solutions Sdn Bhd's special-purpose vehicle Ihsan Equity Sdn Bhd to establish a Syariah-compliant digital bank. According to a joint statement today by agrochemical producer Hextar Global, Arcadia Acres and Ihsan Equity, the consortium agreement is pursuant to the submission for a digital banking licence application to Bank Negara Malaysia (BNM) on June 30, 2021.
AirAsia Group Bhd is seeking an extension from Bursa Malaysia to complete the private placement of 198.18 million shares that it has yet to issue. The low-cost carrier said it had submitted an application for an extension of time from Aug 2 up to Dec 31 for the company to implement the private placement. AirAsia did not reveal the reason for seeking the extension. The airline intends to raise a total of RM454.51 million from share placement to recapitalise, on top of cash call and raising borrowings. So far, it has raised RM336.47 million via placement of new shares.
Sapura Energy Bhd has secured seven contract wins and extensions in Malaysia and Thailand for its engineering and construction, operations and maintenance, and drilling segments with a combined value of RM1.2 billion. The group said that for the E&C segment, its subsidiary Sapura Offshore Sdn Bhd won contracts from PTTEP Sarawak Oil Ltd and Enquest Petroleum Production Malaysia Ltd under the Pan Malaysia Transportation and Installation of Offshore Facilities 2021 campaign.
Favelle Favco Bhd has secured purchase orders for offshore cranes, tower cranes, compressor system manpower, upgrade work and solar system with a combined value of RM121.1 million. The purchase orders were secured by its subsidiaries Favelle Favco Cranes Pte Ltd, Favelle Favco Cranes (M) Sdn Bhd, Favelle Favco Cranes Pty Ltd, Kroll Cranes A/S and Exact Automation Sdn Bhd. The customers are Federal Hardware Engineering Co Pte Ltd, Hyundai Engineering and Construction Co Ltd, G A Caelli Holdings Trust, Afcons Infrastructure Ltd, Advance Gas Turbine Solutions Sdn Bhd, Malaysia LNG Sdn Bhd, Muhibbah Marine Engineering Sdn Bhd and PTTEP Sarawak Oil Ltd.
Axis Real Estate Investment Trust (REIT) announced a 9.27% increase in its net property income for the second quarter of financial year 2021 (2QFY21) ended June 30, 2021 to RM53.44 million from RM48.91 million in the same quarter last year, on higher property income with an expanded property portfolio. It also announced a second interim income distribution per unit of 2.4 sen, including a non-taxable portion of 0.51 sen, which will be paid on Aug 30.
Kenanga Research anticipates MR DIY Group (M) Bhd's net profit will soar to RM707 million in FY22 ending Dec 31, 2022 or 11.2 sen per share versus RM451 million or 7.2 sen in current FY21. Given the bullish earnings forecast, Kenanga Research pegs its target price for MR DIY at RM4.10, valuing the home improvement outlet chain at a price-earnings ratio of 36 times of its earnings forecast of FY22.
Green Packet Bhd, through its wholly-owned subsidiary Kiplepay Sdn Bhd, has received approval from BNM to roll out three new features for its e-money business which operates the e-wallet "kiplePay". The three new features are a new e-wallet limit of RM10,000, issuance of virtual and physical prepaid cards linked to kiplePay in partnership with the largest payment network in the world, and the Electronic Know-Your-Customer, Green Packet said.
INIX Technologies Holdings Bhd has proposed to undertake a private placement of 46.66 million new shares in the company to diversify into the glove business. INIX Technologies said the private placement is expected to raise gross proceeds of up to RM4.48 million, based on the illustrative issue price of 9.6 sen per placement share. Due to the challenges in the existing business in the information technology and communications technology segments, the company said it is planning to diversify its income stream and reduce dependence on its current existing core business.