KUALA LUMPUR (Sept 30): Based on corporate announcements and news flow on Thursday, companies in focus on Friday (Oct 1) could include: Top Glove Corp Bhd, Berjaya Corp Bhd (BJCorp), IJM Plantations Bhd, Kuala Lumpur Kepong Bhd (KLK), MR DIY Group (M) Bhd, Tenaga Nasional Bhd (TNB), MMC Corp Bhd, Cahya Mata Sarawak Bhd (CMSB), Ta Win Holdings Bhd, NPC Resources Bhd, Ahmad Zaki Resources Bhd (AZRB), Cypark Resources Bhd, Sapura Energy Bhd and Transocean Holdings Bhd.
Top Glove Corp Bhd executive chairman Tan Sri Dr Lim Wee Chai has bought shares in the company for the first time in about three months last Thursday (Sept 23), when he acquired three million shares for RM2.6647 each after the rubber glove manufacturer’s share price closed down below RM3 on Sept 20, as investors weighed the glove industry’s outlook against Covid-19 vaccination progress. Rubber glove has been a crucial personal protective equipment to fight the spread of the pandemic, which began in early 2020. However, global Covid-19 vaccination progress has led to expectation of less demand for gloves, in anticipation that the spread of the pandemic will be curbed.
Berjaya Corp Bhd (BJCorp) will focus on three areas — rationalisation of the group, improving its efficiency and optimising its resources fully — for the current financial year ending June 30, 2022, according to its group CEO Jalil Rasheed. Commenting on the group’s recent financial performance via his Twitter account, Jalil said he remains optimistic about the group’s outlook and shared that the recovery was made possible by all Berjaya companies.
Kenanga Investment Bank Bhd (Kenanga IB), which is the independent adviser to minority shareholders of IJM Plantations Bhd under Kuala Lumpur Kepong Bhd's (KLK/offeror) unconditional mandatory takeover offer for the remaining IJM Plantations shares, recommended on Wednesday that IJM Plantations' shareholders accept the RM3.10 a share offer, as the price is deemed fair and reasonable.
Home improvement retailer MR DIY Group (M) Bhd is driving growth with the opening of 35 new stores in seven states across Malaysia. In a statement, the group said the new stores comprise 14 MR DIY outlets, three MR DIY Express, six MR TOY and 12 MR DOLLAR stores, bringing the total number of stores across the group to 830. According to MR DIY Group vice-president of marketing Andy Chin, buying patterns have changed with consumers shopping closer to home and looking for stores that meet their need for a diverse range of products.
Rompin MP Datuk Seri Hasan Arifin has been appointed the new chairman of Tenaga Nasional Bhd (TNB) effective Oct 1. Hasan, 68, replaces Padang Terap MP Datuk Seri Mahdzir Khalid who resigned as the group’s chairman on Aug 29, following his appointment as the rural development minister.
MMC Corp Bhd shareholders on Thursday approved its controlling shareholder Tan Sri Syed Mokhtar Albukhary's plan to take the company private. According to MMC, 99.75% of the shareholders voted in favour of the tycoon’s privatisation plan in an extraordinary general meeting (EGM) on the same day.
Cahya Mata Sarawak Bhd (CMSB) director Tan Sri Mohd Zahidi Zainuddin has been redesignated as the group’s chairman effective Oct 1. He replaces Tan Sri Abdul Rashid Abdul Manaf, who is retiring from the board to focus on other business interests.
Copper products manufacturer Ta Win Holdings Bhd has called off the memorandum of understanding with RR One Capital effective Thursday, after parties were unable to conclude the discussions with details and terms of a proposed joint venture.
NPC Resources Bhd is proposing to dispose of a total of 2,105 acres of oil palm land in Sabah to Kretam Holdings Bhd for RM52.72 million. NPC said its subsidiaries Seraya Plantation Sdn Bhd and Bonus Indah Sdn Bhd have on Thursday received acceptance offers from Kretam’s unit Syarikat Kretam Plantations Sdn Bhd.
Ahmad Zaki Resources Bhd’s (AZRB) net loss narrowed to RM68.81 million in the financial year ended June 30, 2021, from RM106.71 million in the previous year, due to a lower loss suffered by the plantation division, which benefited from the higher volume of palm product sales and higher commodity prices. Revenue, however, fell to RM846.98 million from RM966.18 million previously, resulting from slower construction and engineering division activities that affected the amount of recognisable revenue, but was nevertheless compensated by higher revenue recorded in the plantation division.
Cypark Resources Bhd has posted a net profit of RM16.68 million for the third quarter ended July 31, 2021, 3.3% higher than RM16.15 million in the same period last year but down 7.3% from RM18 million in the preceding quarter. Revenue rose 18.3% to RM65.92 million from RM55.69 million last year, while falling 23.3% from RM86 million quarter-on-quarter.
Sapura Energy Bhd reported its third straight quarter of losses due to recognition of foreseeable losses and higher project costs. In its second financial quarter ended July 31, 2021, the integrated oil and gas services provider saw its net loss widen to RM1.52 billion from RM97.07 million in the preceding quarter. Revenue dropped 49.2% to RM747.12 million, compared with RM1.47 billion, mainly due to lower revenue recognition from the engineering and construction, and operations and maintenance business segments.
Enfrasys Consulting Sdn Bhd has emerged as the second largest shareholder of Transocean Holdings Bhd, after acquiring a 30.72% stake in the logistics group on Sept 28. The largest shareholder of Transocean is Kumpulan Kenderaan Malaysia Bhd, which held a direct interest of 6.91% and an indirect interest of 25.72% as of Sept 13.