KUALA LUMPUR (Oct 1): Based on corporate announcements and news flow today, stocks that are likely to be in focus tomorrow (Friday) are as follows: NTPM Holdings Bhd, Kossan Rubber Industries Bhd, GFM Services Bhd, Tan Chong Motor Holdings Bhd, Matrix Concepts Holdings Bhd, FGV Holdings Bhd and MY EG Services Bhd (MyEG).
NTPM Holdings Bhd is selling its entire interest in NTMP Paper Mill (Bentong) Sdn Bhd for RM27.5 million. It is expecting to net a one-off gain of RM11.17 million from the sale. The subsidiary has continuously incurred losses with little prospects of a turnaround in the near future. Following the disposal, NTPM’s earnings per share would rise to 2.80 sen, from 0.60 sen as of April 30.
Kossan Rubber Industries Bhd is paying about RM50 million in remediation fee to its migrant workers. The first payment of 20% (about RM10 million) will be paid in November, with the remediation payment programme to be completed within 18 months. Kossan employs close to 7,000 people, of whom 4,000 are foreigners.
GFM Services Bhd has clinched a three-year contract to provide operations and maintenance services at Villages 1 and 2 and their associated facilities at the Pengerang Integrated Complex in Johor from Petroliam Nasional Bhd (Petronas). The actual contract value was not stated, with GFM saying Petronas will pay it a non-escalating and fixed unit rate, as specified in the letters of award issued.
Tan Chong Motor Holdings Bhd has teamed up with PT SGMW Motor Indonesia to explore introducing the latter’s vehicle products in Malaysia and Thailand. It signed an MoU with the Indonesian company today. PT SGMW is a wholly-owned subsidiary of SAIC GM Wuling Automobile Co Ltd and has a manufacturing plant in Greenland International Industrial Centre, Indonesia, built on 600,000 sq m of land with a total investment cost of US$700 million. The plant has a capacity to produce up to 120,000 units per annum.
Matrix Concepts Holdings Bhd is looking to launch RM1.04 billion in properties for the financial year ending March 31,2021 (FY21). It already has launched RM541.4 million in new projects in 1QFY21, focusing on the two-storey terraced homes segment at the Sendayan development in Negeri Sembilan and Bandar Seri Impian in Kluang, Johor. Matrix has netted RM800 million in new bookings during the MCO, of which RM350.3 million was converted into new sales in 1QFY21 — up by 9.3% year on year.
FGV Holdings Bhd has expressed disappointment with the US Customs and Border Protection (CBP)’s decision to ban its palm oil from entering the US, saying it has been working since 2015 to address concerns of forced labour. The group noted that its efforts are well-documented and available in the public domain. It cited its strengthening of procedures and processes in the recruitment of migrant workers, as well as rgw adoption of its Guidelines and Procedures for the Responsible Recruitment of Migrant Workers in 2019. It also highlighted that it pays for all official costs associated with migrant worker recruitment, is not involved in the recruitment or employment of refugees, nor does it practice the detention of workers’ passports.
My EG Services Bhd (MyEG) will be offering online renewals for Motorcycle Road Tax and Competent Driving Licenses starting Oct 9 and Oct 16 respectively on its online platform. Users would also be able to access online motorcycle insurance rental and motorcycle road tax and competent driving licence delivery services.