MyEG, Genting Malaysia, Vivocom, MISC, Jaycorp, Nexgram, Datasonic, Greatech, Yinson and Minetech

MyEG, Genting Malaysia, Vivocom, MISC, Jaycorp, Nexgram, Datasonic, Greatech, Yinson and Minetech
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KUALA LUMPUR (March 3): Based on corporate announcements and news flow today, companies in focus on Thursday (March 4) may include: MyEG Services Bhd, Genting Malaysia Bhd, Vivocom Intl Holdings Bhd, MISC Bhd, Jaycorp Bhd, Nexgram Holdings Bhd, Datasonic Group Bhd, Greatech Technology Bhd, Yinson Holdings Bhd and Minetech Resources Bhd. 

MyEG Services Bhd said net profit rose 6.74% to RM75.51 million in the fourth quarter ended Dec 31, 2021, from RM70.74 in the preceding quarter, boosted by revenue from Covid-19 health screenings, and online motorcycle insurance and road tax renewal service. Quarterly revenue increased 10.13% to RM149.89 million, from RM136.10 million previously, as the group witnessed increased revenue contribution from its screening and accommodation arrangement service for inbound travellers. MyEG declared a final dividend of 1.7 sen per share.  

Genting Malaysia Bhd’s senior management team has taken a temporary voluntary 20% salary cut for three months, and the company has written to staff for them to consider a variation in their employment contract, with a suggested variation staggered depending on job grade, from 15% to 20% reduction in salary or one day no pay leave per week, according to a letter sighted by The Edge.  

Vivocom Intl Holdings Bhd has proposed a private placement to raise gross proceeds of up to M99.37 million, paired with one-for-three bonus warrants. The group said the placement size represents 10% of its total issued shares, and will be offered to third party investors to be identified later. It said the placement shares may be issued based on a discount of up to 10% to the five-day volume-weighted average market price of Vivocom shares immediately preceding the price-fixing date.

MISC Bhd has completed its maiden ethane cargo delivery, which is also the largest to-date in the history of ethane shipping at over 51,000 tonnes. In a statement, MISC said its first very large ethane carrier (VLEC) Seri Everest has completed the cargo discharge at Lianyungang port, Jiangsu province, China on Feb 28.

Jaycorp Bhd has announced it has voluntarily decided to halt operations at its 60%-owned joint-venture company Honsoar Jaycorp Cabinetry Sdn Bhd for 10 days for sanitisation purposes. This was after 28 employees were tested positive for Covid-19, from 137 employees screened in Kawasan Perindustrian Sri Gading, Batu Pahat, Johor, according to its filing with Bursa Malaysia. 

Nexgram Holdings Bhd has proposed to cancel RM142.6 million of its issued share capital, in a move to reduce the group’s accumulated losses. The group said the exercise will enable it to reduce its accumulated losses via cancellation of the share capital which is lost or unpresented by available assets of the group.

Datasonic Group Bhd has teamed up with a Vietnamese company to bid for various e-passport and other information and communications technology (ICT) projects in Vietnam. In a bourse filing, the group said it is teaming up with Pham Gia Ecocon Plus Vietnam Co Ltd to work together in proposing e-passport and other ICT projects to the Vietnamese Ministry of Public Security.

Greatech Technology Bhd is erecting a second factory building at Batu Kawan Industrial Park to relocate its Kedah manufacturing and assembly operations to a single location at Batu Kawan Industrial Park in Penang. The factory automation solutions provider said its wholly-owned subsidiary Greatech Integration (M) Sdn Bhd has awarded the letter of award for the construction of the main building works today.

Yinson Holdings Bhd’s unit has bagged a contract worth an estimated 27.5 billion rupees (RM1.5 billion) to develop a 190MW grid-connected solar photovoltaic power project in the Nokh Solar Park in India’s Rajasthan state. The contract awarded to the group’s indirect 80%-owned subsidiary Rising Sun Energy (K) Pvt Ltd (RSEK) by NTPC Ltd has an estimated aggregate value based on a fixed tariff of 2.25 rupees per kWh, Yinson said.

Minetech Resources Bhd has registered as a solar photovoltaic (PV) investor with Sustainable Energy Development Authority Malaysia under the Net-Energy Metering (NEM 3.0) Programme. The group said as a registered PV investor, the group is now allowed to sell electricity via the renewable power purchase agreement under the NEM 3.0 programme to government agencies, businesses and individuals.

S Kanagaraju