KUALA LUMPUR (Jan 28): Based on corporate announcements and news flow today, companies in focus on Tuesday (Jan 29) may include: Malaysian Resources Corp Bhd, FGV Holdings Bhd, Sapura Energy Bhd, AirAsia Group Bhd, S P Setia Bhd, Tex Cycle (M) Bhd and Eduspec Holdings Bhd.
Malaysian Resources Corp Bhd (MRCB) said it has received a letter of acceptance from Projek Lintasan Kota Holdings Sdn Bhd for its offer to undertake Package CA2 of the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) project for RM323 million.
The letter of acceptance was received by MRCB Builders Sdn Bhd, a wholly-owned subsidiary of MRCB.
The completion date of the project is April 3, 2020, 14 months from the date of site possession on Feb 4.
"The project is expected to contribute positively to the earnings of MRCB for the financial years 2019 and 2020," the group added.
FGV Holdings Bhd has teamed up with South Korea-listed Samyang Foods Co Ltd to establish a halal ramen manufacturing facility in Malaysia for local and global markets.
The collaboration is part of the group's strategic direction to expand its downstream business via wholly-owned subsidiary Delima Oil Products Sdn Bhd, by diversifying its product offerings and penetrating into new markets.
FGV said it has signed a Memorandum of Understanding with Samyang Foods to explore the opportunity for both parties to establish the halal ramen and instant noodle manufacturing plant in Malaysia.
Sapura Energy Bhd’s shareholders have approved the group’s joint venture with OMV Aktiengesellschaft, which will see OMV purchasing a 50% stake in Sapura Upstream Sdn Bhd for total proceeds of US$975 million (RM4 billion).
Met by reporters at the extraordinary general meeting, Sapura Energy president and group chief executive officer Tan Sri Shahril Shamsuddin also said that the under-subscription of its rights issue exercise was due to the cloudy conditions in the market at the time, which had affected investors' sentiment.
Despite the under-subscription, he said the group still managed to secure the money which will go towards paring down its debt level.
AirAsia Group Bhd said its Malaysian, Indonesian and Philippine operations carried 16% more passengers at 12.11 million in the fourth quarter ended Dec 31, 2018 (4Q18) from 10.44 million a year ago.
AirAsia said available seat per kilometre (ASK) in 4Q18 rose 14% year-on-year (y-o-y). However, passenger load factor fell 4 percentage points (ppts) to 84% as a result of a significant increase in capacity by 21% y-o-y.
For 2018 as a whole, total passengers handled by AirAsia's Malaysian, Indonesian and Philippine operations increased 14% to 66.26 million passengers from 58.31 million in 2017. ASK rose 14%, while load factor fell 3 ppts to 85%.
S P Setia Bhd has completed the issuance of RM358.1 million worth of Islamic medium-term notes to part finance the purchase of a project land in Semenyih, Selangor.
The notes were issued under an unrated sukuk programme by its wholly-owned subsidiary KL East Sdn Bhd
Tex Cycle (M) Bhd said the commencement of feed-in-tariff for its renewable electrical energy power plant in Selangor has been delayed once again.
This is because the group is still waiting for the initial operation date (IOD) from the relevant authorities.
To recap, Tex Cycle had received the greenlight from the Sustainable Energy Development Authority Malaysia (SEDA) to build and operate the power plant, which will have a capacity to supply two megawatt per hour of electricity to Tenaga Nasional Bhd.
The IOD was initially set for Dec 7, 2017, with the commencement of the feed-in tariff on Jan 28, 2018. Subsequently the IOD was pushed to Dec 7, 2018, and the commencement of the feed-in tariff to Jan 21, 2019.
Eduspec Holdings Bhd has fixed the issue price of its proposed private placement shares at two sen apiece.
The placement’s underwriter Kenanga Investment Bank said the price of two sen per share constitutes a discount of 8.26% to its five-day volume weighted average price of 2.18 sen as at Jan 25.
The private placement, proposed on Sept 6 last year, comprises 138.45 million shares, constituting 10% of the group’s total share capital of one billion shares.