KUALA LUMPUR (March 16): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Thursday, March 17) could include the following: Sapura Resources, Mah Sing, Top Glove, Axiata, SMRT, Kim Teck Cheong and Red Sena.

Sapura Resources Bhd announced a divestment of its education business by disposing of its entire shareholding in APIIT Education Group to ILMU Education Group Sdn Bhd, the education arm of government-owned private equity firm Ekuiti Nasional Bhd (Ekuinas), for RM246.99 million.

The education assets comprise a 49% interest in APIIT Sdn Bhd, 49% stake in Asia Pacific University Sdn Bhd and 37.61% stake in Asia Pacific Institute of Information Technology Lanka (Pvt) Ltd. The remaining interest in these assets is already owned by ILMU.

Sapura Resources is also undertaking a proposed reorganisation, which will involve the disposal by APIIT to ILMU of its entire interest in Asia Pacific Schools Sdn Bhd for RM138.8 million.

As a result of the proposed disposals, the group will realise a one-off pro forma gain of about RM192.2 million, based on its audited financial statements ended Jan 31, 2015.

Sapura Resources said it is disposing of its education assets as it was more value accretive to the group in the long run to use the funds from the disposal to concentrate on growing its property business, namely its Lot 91 Kuala Lumpur City Centre Development, as well as its aviation business.

Mah Sing Group Bhd, the country's third-largest property developer by sales, said it is ready to buy more land after holding back in 2015, as it predicts a rebound in the property sales in the second half of the year.

In an interview with Bloomberg, Mah Sing group managing director Tan Sri Leong Hoy Kum said he is seeing signs of renewed confidence from consumers as they move beyond negative reports on the currency and political developments.

According to him, the company has a record RM1.4 billion cash pile for land acquisitions.

"We have reached the bottom of a downturn, and it will recover in the medium term," Leong said. "The bad news like 1MDB and the ringgit have already been digested; I don't see any more bad news coming out. It is back to work for everyone to focus on economic growth," he added.

Top Glove Corp Bhd posted an 86.6% jump in net profit in its second quarter ended Feb 29, 2016 (2QFY16) to RM104.61 million or 8.36 sen per share, driven by its ongoing improvements, which concentrate on enhancing quality, efficiency and profit margins.

The world's largest maker of natural rubber gloves said lower raw material prices during the quarter under review also helped lift its earnings.

It recorded a net profit of RM56.07 million or 4.51 sen per share in 2QFY15.

Revenue for the quarter was up 21.3% at RM693.86 million, from RM572.25 million a year earlier, its bourse filing showed today.

For the cumulative six-month period (1HFY16), its net profit more than doubled to RM232.96 million or 18.69 sen per share, as compared to RM104.75 million or 8.43 sen per share a year ago, while cumulative revenue was 30.7% higher at RM1.49 billion versus RM1.14 billion in 1HFY15.

Moving forward, Top Glove expects its steady performance to continue, supported by the resilient demand for gloves.

Axiata Group Bhd has successfully priced its 10-year US$500 million Sukuk, which will be issued via its wholly-owned Malaysian-incorporated special purpose vehicle, Axiata SPV2 Bhd.

The Sukuk Issuance is the third issuance under Axiata's multi-currency Sukuk issuance programme with an aggregate nominal value of US$1.5 billion, established on July 17, 2012.

Proceeds of the Sukuk Issuance will be utilised to fund the proposed acquisition of Ncell Pte Ltd.

Axiata president and group chief executive officer Datuk Seri Jamaludin Ibrahim said that through Ncell, Axiata will be entering the fast-growing brownfield market of Nepal with a controlling stake of its number one telecom operator.

"As a rare and opportunistic asset, Ncell would be immediately accretive to Axiata's financials when consolidated," he added.

SMRT Holdings Bhd is teaming up with businessman Datuk Benny Hoe Tze Fook to set up an international school in Cyberjaya.

The education and human resources services provider told the stock exchange that it is selling a 90% stake in subsidiary SMR Education Solutions Sdn Bhd (SMRES) to Hoe's company, Brecon Synergy Sdn Bhd, for RM450,000.

SMRES won approval from the Education Ministry in November 2014 to establish a private school called Cyberjaya International School.

The agreement is subject to, among others, a legal and financial due diligence being carried out by Brecon on the business of SMRES.

Kim Teck Cheong Consolidated Bhd (KTC), which was listed on Bursa Malaysia in November last year, is expanding its footprint to Brunei, through the acquisition of a 60% stake in Grantop Marketing Sdn Bhd (GMSB) for B$600,000 or RM1.79 million.

It told Bursa Malaysia that the proposed acquisition would potentially provide it with access to approximately 600 sales and distribution points, with the infrastructure in place — including warehousing facilities — in Brunei.

The group has entered into two conditional agreements with various parties for the 60% stake buy in GMSB.

The first agreement was entered into with Phang Lee Yen, Lim Sok Lan and Woo Chung Heng, for the shareholders of GMSB to acquire 80,000 shares for B$80,000 (RM238,464).

The second agreement was entered into with GMSB, for the subscription of 520,000 new shares for B$520,000 (RM1.55 million).

"This proposed acquisition is an affirmative decision made by the management as a step in executing our plans to further increase our distribution footprint," said KTC executive director Dexter Lau.

"Upon a successful acquisition of GMSB, it will be KTC's first business extension outside of East Malaysia," he added.

Moving forward, Lau said the group's core business focus will still remain in East Malaysia but they will not discount opportunities should it arise.

Red Sena Bhd, the country's first food and beverage (F&B) special purpose acquisition company, said it would like to undertake its qualifying acquisition in Thailand, Indonesia or Malaysia.

Speaking to pressmen after the company's annual general meeting today, Red Sena chief executive officer Joseph Tan Eng Guan said these three countries offered the greatest potential followed by Vietnam and the Philippines.

"If you look at the population size and F&B business development, you will naturally come to this kind of order as well," he said.

The company is in the process of identifying and screening potential QAs, he said, adding that it is currently engaging with regional mergers and acquisitions specialists.