Hartalega, HB Global, Dufu Technology, HPP, Kanger, BLand and BFood

Hartalega, HB Global, Dufu Technology, HPP, Kanger, BLand and BFood
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KUALA LUMPUR (Aug 3): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Wednesday Aug 4) include: Hartalega Holdings Bhd, HB Global Ltd, Dufu Technology Corp Bhd, HPP Holdings Bhd, Kanger International Bhd, Berjaya Land Bhd (BLand) and Berjaya Food Bhd (BFood).

Hartalega Holdings Bhd saw its net profit double to RM2.26 billion for the first quarter ended June 30, 2021 (1QFY22), from RM1.12 billion in the preceding quarter (4QFY21). Revenue expanded 69% to RM3.9 billion from RM2.3 billion in the preceding quarter. The group proposed a final dividend of 19.75 sen per share, the highest payout for the financial year ended March 31, 2021 (FY21). This brings total dividend per share to 50.95 sen for FY21. On a year-on-year basis, Hartalega’s net profit soared by 928% from RM219.72 million a year earlier, with revenue swelling 324% from RM920.09 million.

China-based frozen food maker HB Global Ltd said its recently-acquired telecommunication unit has secured a contract from Axiata Group Bhd’s subsidiary to provide full turn key fibre implementation work. HB Global said Forward Resources and Construction Sdn Bhd, in which it acquired a 60% stake in April, was awarded the RM10 million contract by wireless telecommunications services provider On Site Services Sdn Bhd.

Dufu Technology Corp Bhd’s net profit jumped 60.86% to RM15.92 million for the second quarter ended June 30, 2021, from RM9.9 million a year ago, on strong hard disk drives (HDD) components demand. Quarterly revenue rose 20.18% to RM88.22 million, from RM73.41 million previously, mainly due to an increase in volume loading by customers related to HDD components. It has declared an interim dividend of two sen per share, payable on Sept 24.

HPP Holdings Bhd said it is temporarily ceasing operations for two weeks from today until Aug 17, to carry out deep sanitisation and disinfection work at its factories and office, after detecting eight Covid-19 cases among its factory employees.The Covid-19 cases were found at four of its manufacturing facilities located at Taman Teknologi Cheng in Melaka.

Kanger International Bhd is confident of returning to the black in the coming financial year ended March 31, 2022 (FY22), driven by the group’s new construction division, as it has secured projects with total order book of RM1 billion. Its executive director Steven Kuah Choon Ching said the group will expand its construction business by undertaking building construction, civil engineering and project management contracts as a main contractor or sub contractor, moving forward. “We also aim to secure the Grade 7 contractor licence from the Construction Industry Development Board, which will enable us to undertake construction projects of any value,” he added.

Berjaya Land Bhd (BLand) said it has disposed of an aggregate of 6.7 million shares, representing a 1.88% stake in Berjaya Food Bhd (BFood), between June 15 and July 30. The disposals were carried out via direct business transactions for RM12.55 million at an average price of RM1.87 per share. Post disposals, BLand now holds a total of 4.85 million BFood shares, representing a stake of 1.36%. Previously, BLand had also disposed of 15 million shares or 4.22% stake in BFood in May for RM27.61 million, resulting in its stake in BFood shrinking to 11.55 million or 3.25%.  

S Kanagaraju