KUALA LUMPUR (March 24): Based on corporate announcements and news flow today, companies that will be in focus on Wednesday (March 25) may include: Mulpha International Bhd, Apollo Food Holdings Bhd, LBS Bina Group Bhd, Censof Holdings Bhd, Scicom (MSC) Bhd, Omesti Bhd, Ho Hup Construction Co Bhd, Meridian Bhd and Cabnet Holdings Bhd.
Mulpha International Bhd, which is involved in real estate, hospitality and education, has warned that revenue and earnings across its hotel and education assets will be materially impacted from mid-March, as a result of recently-introduced travel bans in Malaysia, Australia, the UK and New Zealand, amid the Covid-19 outbreak.
The group noted at this stage, its real estate operations have not been materially impacted by the pandemic, although it expects sales enquiry will decline over the coming weeks, due to further government restrictions on entry by international visitors to Australia and enforcement of self-isolation and limits to public interaction.
Apollo Food Holdings Bhd’s third quarter net profit declined 12.19% to RM3.98 million from RM4.54 million a year ago, due to higher administrative expenses, foreign exchange loss and fair value loss incurred. Revenue also fell 4.87% to RM48.93 million, from RM51.44 million.
Apollo expects its operating environment to be more challenging in both the current and coming financial years, in view of the volatility of raw material costs and the ringgit's performance.
Tan Sri Dr Lim Wee Chai, founder and executive chairman of Top Glove Corp Bhd, has emerged as a substantial shareholder in LBS Bina Group Bhd, after purchasing 103.13 million shares or a 6.81% stake in the property developer. Lim bought the shares via direct business transactions between March 19 and 24 at 32 sen apiece or RM33 million.
Censof Holdings Bhd saw Erwin Selvarajah Peter Selvarajah ceasing to be a substantial shareholder of the company, after disposing 1.60 million shares in the company. Erwin, who held 27.64 million shares or a 5.508% stake in the company on Feb 19, 2019, appeared to have gradually disposed of his shares. Following this, his equity interest in the company has come down to 4.92% or 24.69 million shares.
Datuk Jaganath Derek Steven Sabapathy has ceased to be a substantial shareholder of Scicom (MSC) Bhd, after he had disposed of 1.5 million shares in the company. Jaganath, who is also the founder and CEO of Tribeca Real Estate Asset Management Sdn Bhd, first emerged as a substantial shareholder of Scicom in December 2014, after acquiring a 5.83% stake in the company at 10 sen apiece.
Omesti Bhd has raised its stake in Ho Hup Construction Co Bhd by 0.5% to 12.58%, after buying an additional 2.08 million shares for RM604,155 or an average of 29.1 sen per share between March 13 and March 23. Omesti said the acquisition provides an opportunity for Omesti Group to increase its stake to 12.58%, subsequent to the dilution in equity interest, following the completion of a private placement by Ho Hup in November last year.
Meridian Bhd saw the emergence of Datuk Seri Lee Koon Weng as a substantial shareholder, after Lee purchased 7.72 million shares in the property developer via direct business transaction and the open market. Lee now holds 31.68 million shares or a 5.47% stake in the company.
Netposa Technologies Ltd has ceased to be the largest shareholder of Cabnet Holdings Bhd, after the 20% stake or 35.75 million shares the former held via Netposa Technologies (HK) Ltd was disposed of on March 19. Meanwhile, Singaporean Vincent Tai Seh Kiat emerged as Cabnet's new largest shareholder with a 20% stake, through his shareholding in Dragonbay Global Pte Ltd, which acquired 35.75 million shares in Cabnet on the same day.
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