Serba Dinamik, Kerjaya Prospek, HCK Capital, Econpile, Velesto Energy, FGV, Metronic Global, Hartalega, Supermax, Frontken and Atrium REIT

Serba Dinamik, Kerjaya Prospek, HCK Capital, Econpile, Velesto Energy, FGV, Metronic Global, Hartalega, Supermax, Frontken and Atrium REIT
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KUALA LUMPUR (Feb 12):  Based on corporate announcements and news flow today, companies that may be in focus on Wednesday (Feb 13) may include the following: Serba Dinamik Holdings Bhd, Kerjaya Prospek Group Bhd, HCK Capital Group Bhd, Econpile Holdings Bhd, Velesto Energy Bhd, FGV Holdings Bhd, Metronic Global Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd, Frontken Corporation Bhd and Atrium Real Estate Investment Trust (REIT)

Serba Dinamik Holdings Bhd has secured nine contracts worth at least US$110 million (RM448.09 million) in aggregate.

Its unit, Serba Dinamik International Ltd secured three operations and maintenance (O&M) contracts from Energeniq FZE for work in United Arab Emirates, Pavillion Multi Holding LLC in Uzbekistan, and Process Dynamics Company in Qatar.

Another unit, Serba Dinamik Sdn Bhd, secured three O&M contracts from Pengerang Refining Company Sdn Bhd, Pengerang Petrochemical Company Sdn Bhd, and Petronas Dagangan Bhd.

It also secured one engineering, procurement, construction and commissioning (EPCC) contract from Malaysia LNG Sdn Bhd, and two O&M and EPCC contracts from Petronas Carigali Sdn Bhd.

Kerjaya Prospek Group Bhd has won an RM280 million contract from HCK Capital Group Bhd to build the main building for a development project in Subang Jaya.

The 28-month contract, which is targeted to be completed by July 2021, involves a work scope covering the construction of the main building for the proposed project comprising four towers and a three-storey retail unit and office podium.

Piling and foundation specialist Econpile Holdings Bhd has bagged a RM209.3 million contract to undertake basement and substructure works for Phase 2 of the Pavilion Damansara Heights mixed development on Jalan Damanlela.

This new contract brings Econpile’s total new wins to RM506.7 million in the current financial year to date, which is higher than the RM473.4 million recorded in the financial year ended June 30, 2018 (FY18).

Velesto Energy Bhd (formerly known as UMW Oil & Gas Corp Bhd) has bagged a US$38 million contract extension to provide high pressure high temperature (HPHT) jack-up drilling rig and services for North Malay Basin, Malaysia.

It said it will assign one of its rigs, NAGA 8, for this 18-month contract extension, which also comes with an option for further extension.

Five former non-executive directors of FGV Holdings Bhd have filed a counter claim against the public-listed plantation group yesterday in an RM514 million lawsuit related to breach of fiduciary duties.

The former directors are Tan Sri Ismee Ismail, Tan Sri Wan Abdul Aziz Wan Abdullah, Tan Sri Sulaiman Mahbob, Datuk Nozirah Bahari and Datuk Fazlur Rahman Ebrahim.

They are among the 14 former directors and employees of FGV who were sued by the group on Nov 23 last year.

Metronic Global Bhd said it is consulting its solicitors after the Industrial Court ruled in favour of Eric Boon Chuan Kit, the former financial controller of Metronic Engineering Sdn Bhd, relating to his unfair dismissal from the company.

It said it has been ordered to pay Boon backwages of RM168,000 less statutory deduction and RM10,000 as compensation in lieu of reinstatement.

Boon was terminated from his post in July 2017 for allegedly compromising a special audit, disclosing company trade secrets, missing land titles, failure to submit financial monthly and quarterly reports on time, and coming late to the office without valid reason.

Hartalega Holdings Bhd, the world’s largest nitrile glove manufacturer, saw net profit rise 6% to RM119.76 million in the third financial quarter ended Dec 31, 2018, from RM113.02 million a year ago, on stronger demand for nitrile gloves and higher average selling price, coupled with growth in sales volume of 9.6%

Its quarterly revenue  grew 19.9% to RM723.39 million from RM603.14 million a year ago.

It declared a second interim dividend of 2.2 sen per share, payable on March 28.

Supermax Corp Bhd’s net profit rose 6.2% to RM38.14 million for the second financial quarter ended Dec 31, 2018, from RM35.9 million a year ago, on higher sales of its natural rubber and nitrile rubber gloves.

Revenue increased 14.6% to RM385.1 million from RM335.91 million, thanks to the commissioning of the new replacement lines at its Perak plant and full quarter contribution from two other plants.

The group declared an interim dividend of 1.5 sen per share, payable on April 18.

Frontken Corporation Bhd's net profit for the fourth quarter ended Dec 31, 2018 jumped 90% year-on-year to RM18.7 million, from RM9.8 million previously due to lower foreign exchange loss and improved performances by its subsidiaries in Malaysia, Singapore and Taiwan.

Revenue stood at RM88.7 million, a 10.3% increase from RM80.4 million in the previous year.  

The group declared a second interim single tier dividend of 0.8 sen per share.

Atrium Real Estate Investment Trust (REIT) has entered into a  put and call option agreement in relation to a RM180 million land deal announced last November.

The agreement with the vendor of the land, Lumileds Malaysia Sdn Bhd, provides for the option to enter into a  sale and purchase agreement and leaseback of two pieces of land in Penang for RM50 million.

Atrium also entered into a second sale and purchase agreement  for the acquisition of a lease arrangement in respect of another piece of leasehold land in Penang for RM130 million.

Atrium also announced a private placement and a right issue to raise money to finance the property acquisition.