MMC Corp, Gamuda, VisDynamics, FGV, MQREIT, Kumpulan Perangsang Selangor, Atta Global and Heng Huat

MMC Corp, Gamuda, VisDynamics, FGV, MQREIT, Kumpulan Perangsang Selangor, Atta Global and Heng Huat
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KUALA LUMPUR (Jan 17): Based on corporate announcements and news flow today, stocks in focus on Monday (Jan 20) may include: MMC Corp Bhd, Gamuda Bhd, VisDynamics Holdings Bhd, FGV Holdings Bhd, MRCB-Quill REIT, Kumpulan Perangsang Selangor Bhd, Atta Global Group Bhd and Heng Huat Resources Group Bhd.

MMC Corp Bhd and Gamuda Bhd have today formalised their roles in the Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya (SSP) line (MRT2) as joint turnkey contractor, from project delivery partner (PDP) previously.

The partners said their joint venture (JV) unit MMC Gamuda KVMRT (PDP SSP) Sdn Bhd (MMC-Gamuda) has inked a supplemental agreement to the PDP agreement with Mass Rapid Transit Corp Sdn Bhd (MRT Corp).

The supplemental agreement is to formalise the role of MMC-Gamuda to deliver and be responsible for the design, execution and completion of the entire SSP Line (for both above ground and underground) on a turnkey basis.

VisDynamics Holdings Bhd was slapped with an unusual market activity (UMA) query by Bursa Malaysia over the sharp rise in its share price recently.

Traded at 38 sen on Dec 19, 2019, the ACE-Market listed stock is now 68.4% higher at 64 sen, which gives it a market capitalisation of RM108.35 million.

Following the query, VisDynamics said it is not aware of any developments that could explain the sharp rise in its share price.

FGV Holdings Bhd said the decision by the complaints panel (CP) of the Roundtable on Sustainable Palm Oil (RSPO) to re-suspend its Kompleks Serting and put on hold the ongoing new certification processes at 23 other complexes would not have any material impact on the group and its subsidiaries.

This is because it still has 33 mills which were certified earlier. The group also pledged that it will continue to work towards good practice and sustainability.

MRCB-Quill REIT's (MQREIT) fourth quarter net loss stood at RM24.38 million versus a net profit of RM8.05 million a year earlier, as it registered lower gross revenue and net property income, besides a RM36.73 million fair value loss for its investment properties across the Klang Valley and Penang.

MQREIT said gross revenue decreased to RM40.62 million in the fourth quarter ended Dec 31, 2019 (4QFY19) from RM41.81 million a year ago.

For FY19, MQREIT's full-year net profit fell to RM29.12 million from RM73.13 million a year earlier. Revenue was lower at RM160.99 million versus RM172.53 million.

Kumpulan Perangsang Selangor Bhd (KPS) has appointed Datuk Nor Azmie Diron as its new chairman, effective today. Nor Azmie, 51, replaces Raja Shahreen Raja Othman, who has resigned following the end of his contract as chief executive officer of KPS' largest shareholder Menteri Besar Selangor Inc (MBI).

The Securities Commission Malaysia (SC) said it has directed Bursa Malaysia to suspend Atta Global Group Bhd and Heng Huat Resources Group Bhd's securities trade after the Royal Malaysia Police seized trading accounts belonging to several key individuals involved in these companies.

In an emailed statement in response to queries by theedgemarkets.com, an SC spokesperson said: "The directive to Bursa was issued pursuant to sections 26 and 28 of the Capital Markets and Services Act 2007, following the seizure of the trading accounts of several key individuals involved in these companies by Polis Diraja Malaysia (Royal Malaysia Police)."