KAB, Perdana Petroleum, TM, DiGi, Tune Protect, Econpile, GuocoLand, Benalec and Dolphin

KAB, Perdana Petroleum, TM, DiGi, Tune Protect, Econpile, GuocoLand, Benalec and Dolphin
-A +A

KUALA LUMPUR (Jan 9): Based on corporate announcements and news flow today, stocks in focus for Friday (Jan 10) may include the following: Kejuruteraan Asastera Bhd, Perdana Petroleum Bhd, Telekom Malaysia Bhd, Digi.com Bhd, Tune Protect Group Bhd, Econpile Holdings Bhd, GuocoLand (Malaysia) Bhd, Benalec Holdings Bhd and Dolphin International Bhd.

Kejuruteraan Asastera Bhd (KAB) has secured an RM19 million contract to provide electrical services to the Trion @ KL serviced apartment and hotel project at the intersection of Jalan Sungai Besi and Jalan Dua here.

KAB shall act as the nominated subcontractor for the complete supply, delivery, installation, testing and commissioning of the electrical services for property developer Binastra Land Sdn Bhd on three blocks of serviced apartments and hotel.

Perdana Petroleum Bhd has bagged four time charter contracts worth RM50.1 million from its major shareholder Dayang Enterprise Holdings Bhd to charter two units of accommodation workbarge and two units of anchor handling tug and supply vessels.

Dayang is the single largest shareholder of Perdana Petroleum, with a 60.48% stake as at March 12, 2019. As such, the vessels charter is a recurrent related party transaction.

Telekom Malaysia Bhd (TM) and Digi Telecommunications Sdn Bhd (Digi), a wholly-owned unit of Digi.com Bhd, have agreed to work together in testing the capabilities, possibilities and limitations of 5G network sharing between multiple network service operators under Malaysian Communications and Multimedia Commission's 5G Demonstration Project (5GDP).

Both network operators said they are working together to test out the 5G network sharing for the 5GDP rollout on Langkawi island. Under the partnership, Digi operates its 5GDP sites (including on-site 5G radio network and 5G core network) in Langkawi to run its 5G use cases, supported by TM in providing fibre backhaul to these sites.

Tune Protect Group Bhd’s unit is disposing of its stake in Laka Ltd, a London-based insurance technology startup offering non-conventional insurance targeted at high-end bicycle owners, for 555,369.36 pounds (about RM3 million).

Tune Protect's subsidiary Tune Direct Ltd took up a 9.99% stake in Laka for 499,478 pounds (RM2.64 million) in June last year.

Tune Protect said the disposal is in line with its digital transformation strategy, and the group intends to channel the proceeds from the disposal towards strengthening its own homegrown digital and technology capabilities.

Econpile Holdings Bhd has bagged an RM45 million contract to undertake piling and raft foundation works for Phase 2 of Kuchai Sentral mixed development in Taman Kuchai Jaya here. The overall duration of the contract is 19 months and works are expected to commence next month.

The group's current orderbook stands at RM850 million, which would sustain its earnings over the next two years.

GuocoLand (Malaysia) Bhd has dropped even deeper into the red for the second financial quarter ended Dec 31, 2019 (2QFY20), due to lower sales of completed units, as well as higher marketing costs.  

It posted a widened loss of RM14.85 million in 2QFY20 compared with RM12.65 million in the previous corresponding quarter. Revenue was also 18.3% lower at RM90.19 million, from RM110.42 million previously.  

For the first half of the financial year 2020 (1HFY20), GuocoLand posted a loss of RM24.85 million compared with RM13.87 million in the previous year, while revenue was down 26.4% to RM138.51 million from RM188.18 million.  

Benalec Holdings Bhd has called off plans to sell the remaining five of seven plots of land in Pekan Klebang, Melaka, to Titanium Hallmark Sdn Bhd. It inked an agreement in October 2017 to sell all seven plots, measuring 216,427 sq metre, for RM100.17 million.

The decision stems from the failure of Titanium Hallmark to pay the balance of the total disposal consideration, despite several extensions of time granted and several reminder notices issued to its solicitors. Following the termination, Benalec said its solicitors will study legal actions it can take, besides marketing the remainder plots to new prospective purchasers.

Dolphin International Bhd has appointed Tengku Ahmad Badli Shah, who joined the board of directors of yesterday, as its new chairman. He takes over from Dr Kamaruddin Osman, 75, who has been redesignated as independent and non-executive director.

Tengku Ahmad, 50, is also presently group chief operating officer at Pelaburan Mara Bhd (PMB), and holds directorships in NetX Holdings Bhd, Fintec Global Bhd, PDZ Holdings Bhd, PMB Investment Bhd and PMB Tijari Bhd.