Thursday 28 Mar 2024
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KUALA LUMPUR: Based on corporate announcements and news flow today, stocks in focus on Thursday (October 19) may include: Seacera, T7 Global, Heitech Padu, Sapura Energy, YFG, DiGi.Com, Top Glove and United Malacca.

Seacera Group Bhd has won a contract worth RM216 million to build the Rubber Research Institute of Malaya's centre of excellence in Selangor.

Seacera said it accepted the letter of award from Koridor Padu Sdn Bhd pertaining to the sub-contract works for the construction of the centre, which will be located in Sungai Buloh.

The project is expected to be completed in 24 months i.e. by October 2019.

T7 Global Bhd, formerly Tanjung Offshore Bhd, is selling its entire equity stake in 7 New Market Street Holdings Ltd (7NMSH), which owns a 10-storey office block with 18 car park spaces in Birmingham, UK, for £5.75 million (RM32.24 million).

According to T7, the disposal is expected to net it a gain of £1.73 million (RM9.69 million).

The property, which is currently vacant, is located on 0.19 acres of freehold land at the corner of New Market Street and Great Charles Street Queensway, which is at the edge of the Birmingham Central Business District.

Heitech Padu Bhd has secured three contracts to establish high voltage interconnection facilities for three solar power plants for a sum of RM75.16 million.

The group said its subsidiary Duta Technic Sdn Bhd received the letters of award from Scatec Solar Solutions Malaysia Sdn Bhd — a unit of Scatec Solar ASA Norway — for the projects, which are located in Kedah, Melaka, and Terengganu.

According to Heitech Padu, Duta Technic is waiting for notice from Scatec Solar to proceed with the projects.

Sapura Energy Bhd, formerly SapuraKencana Petroleum Bhd, announced it is discontinuing its joint venture with London-based Subsea 7 S.A. It said the two entities mutually agreed today to discontinue their SapuraAcergy JV.

Consequently, SapuraAcergy's heavy-lift and pipelay vessel, Sapura 3000, has been sold to Sapura Energy, which has now become the sole owner of the vessel.

YFG Bhd’s wholly-owned subsidiary YFG Engineering Sdn Bhd has bagged an RM200 million contract to construct apartment buildings in Perak.

YFG said YFG Engineering received the letter of award from Pierre Suite (M) Sdn Bhd today for the project, which involves the building, infrastructure and landscaping works of the proposed development in Taiping.

The project is expected to commence on a date to be notified in writing by Pierre Suite, and is to be completed within 36 months.  

DiGi.Com Bhd recorded a 12% drop in net profit for the third quarter ended Sept 30, 2017 to RM384.62 million from RM438.38 million a year earlier, as the mobile telecommunication network provider's prepaid service revenue declined. Digi.Com also said its prepaid subscriber base shrank.

Revenue was lower at RM1.57 billion versus RM1.62 billion.

For 3QFY17, Digi.Com declared a tax-free dividend of 4.9 sen a share. The ex and payment dates fall on Nov 21 and Dec 22, 2017 respectively.

For the first cumulative nine months of FY17, Digi.Com said net profit dropped to RM1.12 billion from RM1.26 billion a year earlier, while revenue came in lower at RM4.7 billion compared with RM4.93 billion.

The world's largest rubber glove manufacturer Top Glove Corp Bhd is set to announce a new acquisition within the next month, to boost the company' growth momentum.

"We are very active now, [and] we are very hungry for M&As. But we must look for the right food (right company) to eat, we cannot simply eat,” its chairman Tan Sri Dr Lim Wee Chai told reporters during a briefing of the group's fourth financial quarter results today.

"We are very close to closing a deal, we will announce it (the acquisition) within one month. We're almost at the end. Wait for our good news," Lim added.

As for its new condom business, Lim said Top Glove has already started the preparations for its condom manufacturing facility, which is expected to be operational in 2018.

"We have already identified the factory, [and are] now renovating and restoring the machines. For the initial stage, we will have two production lines, which we will increase to 10 production lines. Hopefully, within two years, we will have 20 production lines," he said.

United Malacca Bhd announced today that it has inked a conditional agreement to gain a controlling interest on a plot of land in Central Sulawesi, Indonesia.

It is taking up a 60% controlling interest in PT Wana Rindang Lestari (WRL) for US$7.19 million or RM30.33 million, which is now 99.96% owned by PT Bintang Gemilang Permai (BGP), with 0.04% held in another firm, PT Mahkota Nughara Permai.

WRL, a company involved in agricultural activities, owns a business licence from Indonesia's Forestry Ministry to develop a land plot measuring some 59,920ha in Central Sulawesi, Indonesia.

United Malacca said the proposed acquisition will bring it “a step closer” to realising its strategy of diversifying its crops mix to include cash crops like stevia, coconut, cocoa and coffee, in order to widen its earnings base and reduce dependency on a single commodity, palm oil.

"The proposed acquisition will allow United Malacca to have immediate access and a controlling ownership over the land,” it added.

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