Thursday 28 Mar 2024
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KUALA LUMPUR (March 30): Based on corporate announcements and news flow today, companies that may be in focus on Tuesday (March 31) may include: SCGM Bhd, Ekovest Bhd, LBS Bina Group Bhd and Alam Maritim Resources Bhd.

SCGM Bhd saw a turnaround in its third quarter ended Jan 31, 2020 with a net profit of RM4.18 million, compared with a net loss of RM694,000 a year earlier. This was despite revenue declining 7.2% to RM51.64 million, from RM55.64 million previously.

The thermoform food packaging manufacturer proposed a third interim dividend of 0.5 sen per share, to be paid on April 30. This brings its total dividend to-date to 1.75 sen per share, up from 1.25 sen in FY19.  

The thermoform food packaging manufacturer attributed the improved quarterly earnings to better sales mix, lower resin price, lower interest expense and partial utilization of last year’s capital allowance and the reinvestment allowance brought forward to the quarter.

Ekovest Bhd’s EkoCheras Mall has allocated more than RM10 million to subsidize two months’ worth of rent for its tenants from March 1 to April 30, as well as free parking for its visitors until the end of April. The mall has remained partially open during the Movement Control Order (MCO) to support essential businesses such as supermarkets, pharmacies, and F&B outlets with delivery and takeaway services, as well as enable shoppers to get daily necessities.

LBS Bina Group Bhd has issued a RM130 million perpetual Sukuk Musharakah to, among others, refinance its financing and borrowings, as well as fund its capital expenditure and asset acquisition.

It said the sukuk represents the first tranche of its RM700 million Perpetual Sukuk Musharakah Programme with a tenor of perpetual non-callable five years, and an initial periodic distribution rate of 6.8% per annum.

Urusharta Jamaah Sdn Bhd, the Finance Ministry’s special purpose vehicle (SPV), has ceased to be a substantial shareholder of Alam Maritim Resources Bhd, after disposing of 4.66 million shares or a 1.29% stake in the listed company.

Urusharta Jamaah emerged as a substantial shareholder of Alam Maritim on Dec 28, 2018, when it took over Lembaga Tabung Haji’s stake in the company. The SPV previously owned a total of 91.96 million Alam Maritim shares, equivalent to a 9.94% stake.

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