KUALA LUMPUR (March 25): Based on corporate announcements and news flow today, companies that may be in focus on Thursday (March 26) may include the following: LKL International Bhd, Kejuruteraan Asastera Bhd (KAB), Yinson Holdings Bhd, Glomac Bhd, Gamuda Bhd, Astro Malaysia Holdings Bhd and 7-Eleven Malaysia Holdings Bhd.
LKL International Bhd is supplying personal protective equipment (PPE) to public hospitals in Sarawak for RM6.57 million. The group’s subsidiary, LKL Advance Metaltech Sdn Bhd, was awarded the contract by the Sarawak State Government via a letter dated March 24, it said in a filing.
LKL managing director Lim Kon Lian said the group has also received increasing enquiries and purchase orders for critical-care medical items such as hospital beds, patient monitors, ventilators, PPE, heat detectors, probe covers and portable ultrasound units.
Kejuruteraan Asastera Bhd (KAB) is taking up an 80% stake each in two companies involved in the renewable energy and energy efficiency-related business for RM7.26 million cash in a deal that will see it assume liabilities worth some RM4.24 million, which values the entire transaction at RM11.5 million.
The electrical engineering services company’s 90%-owned KAB Energy Power Sdn Bhd (KABEP) inked the Heads of Agreement today with Invest Energy Sdn Bhd to acquire the stakes in the two companies, namely Konpro Industries Sdn Bhd (Konpro) and Meru One Sdn Bhd (Meru).
Property developer Glomac Bhd’s net profit for the third quarter ended Jan 31, 2020 jumped more than eight times to RM12.14 million or 1.56 sen per share versus RM1.43 million or 0.18 sen per share in the previous year.
The group attributed the significantly increased profitability to contributions from higher margin projects, better performance by the property investment segment and overall administrative cost savings during the period under review.
Revenue for the quarter, which fell by 6.34% year-on-year to RM74.02 million compared with RM79.03 million previously, was underpinned mainly by its Saujana Perdana at Bandar Saujana Utama, Plaza @ Kelana Jaya, Saujana KLIA and Saujana Rawang developments.
Yinson Holdings Bhd closed its fourth quarter ended Jan 31, 2020 with its net profit up 7% to RM64.95 million from RM60.7 million in the same period last year, thanks to higher operating profit and lower tax incurred.
Revenue jumped to RM1.86 billion from RM287.6 million previously, mainly due to the commencement of lease for floating production storage offloading (FPSO) vessel Helang that gave rise to outright sale recognition under classification of a finance lease.
Yinson has proposed a final dividend of two sen per share, bringing FY20 total to six sen per share — unchanged from last year.
Construction heavyweight Gamuda Bhd saw its second quarter net profit inch up 1.17% to RM175.17 million from RM173.14 million a year earlier, on the back of contribution from the construction of the Mass Rapid Transport 2 (MRT2) line. Quarterly revenue declined 3.06% to RM1.09 billion from RM1.13 billion in 2QFY19.
Gamuda said its engineering segment’s profit rose due to greater profit from the construction of the MRT2 line. Meanwhile, its property development arm saw lower profits due to the higher upfront costs of newer townships in Malaysia.
Astro Malaysia Holdings Bhd’s net profit rose 17.3% to RM138.92 million for the fourth quarter ended Jan 31, 2020 from RM118.4 million in the previous year’s corresponding quarter, helped by lower staff-related costs. Quarterly revenue fell 10.3% to RM1.23 billion from RM1.37 billion a year earlier.
The group said it saw better Ebitda (earnings before interest, tax, depreciation and amortisation) margin during the quarter, amid lower staff-related costs arising from the separation scheme payments in the corresponding quarter, although partly offset by higher licence, copyright and royalty fees and marketing and distribution expenses.
7-Eleven Malaysia Holdings Bhd said its convenience stores and logistics centre will now operate from 7am to 11pm daily, or as advised by the local authorities.
Known to be open 24 hours daily normally, 7-Eleven convenience stores will now only open as per the stipulated operation hours, in support of the Government's call to restrict movement during the Movement Control Order (MCO), that is now extended until April 14.