KUALA LUMPUR (March 30): Here is a brief recap of some corporate announcements that made news on Thursday involving MyEG Services Bhd, MR DIY Group (M) Bhd, Pentamaster Corp Bhd, Tanco Holdings Bhd, Sapura Energy Bhd, Cypark Resources Bhd, MyNews Holdings Bhd, Crescendo Corp Bhd, PTT Synergy Group Bhd and ManagePay Systems Bhd.
MyEG Services Bhd (MyEG) has signed a partnership agreement with the General Administration of Customs of China (GACC) to jointly provide a full suite of cross-border trade facilitation services that include certificates of origin on MyEG's blockchain platform, Zetrix. The scope of the agreement covers international exports going into China, and MyEG will, via Zetrix, provide the digital service to connect to China's blockchain platform.
Long-time investor of MR DIY Group (M) Bhd, Creador, is to offload its entire 4.92% equity interest in the home improvement retailer for RM664.24 million. Currently, Creador holds 464.55 million shares in MR DIY via Hyptis Ltd, Andira Cordata Sdn Bhd and Amanita Regalis Sdn Bhd. Bloomberg reported on Thursday that the private equity firm is looking to dispose of 322 million MR DIY shares at RM1.43 apiece, a 6.54% discount to the counter’s last close of RM1.53. The remaining 142.5 million shares are to be made available for Creador’s management and select employees for subscription at the same price point of RM1.43 per share, the report said.
Pentamaster Corp Bhd said that its subsidiary Pentamaster Technology (M) Sdn Bhd (PTSB) has established a wholly foreign-owned limited liability company in Germany named Pentamaster Automation (Germany) GmbH (PAG). The group already has distributors and customers in Europe. This marks Pentamaster's fifth international setup, after the US, China, Japan and Singapore, based on its latest annual report.
Tanco Holdings Bhd secured a RM43.37 million contract in relation to the construction of the East Coast Rail Link Project (ECRL). It will undertake the construction and completion of subgrade works from C2CH34+499.980 to C2CH40+256.140, Section 9 of the project. It accepted the letter of award dated March 29 from China Communications Construction (ECRL) Sdn Bhd (CCCESB).
Higher impairment provisions of RM2.62 billion dragged Sapura Energy Bhd to another huge quarterly net loss of RM3.3 billion in its fourth quarter ended Jan 31, 2023 (4Q2023). Year-on-year, the group narrowed its net losses to RM3.3 billion against RM6.76 billion. Quarterly revenue nearly tripled to RM1.21 billion from RM426.6 million. However, forex losses, higher depreciation and amortisation, write-down on inventories, higher finance costs and joint venture losses also impacted earnings. For FY2023, Sapura Energy recorded a net loss of RM3.2 billion against RM9.05 billion net losses in FY2022 while revenue rose 10.9% to RM4.55 billion in FY23 from RM4.1 billion a year earlier.
Former Maybank Investment Banking Group CEO Datuk Hamidah Moris (better known as Ami Moris) has been appointed to the board of Cypark Resources Bhd as an independent and non-executive director, effective Thursday. This confirmed a report by The Edge earlier on Thursday, which citing sources, stated that Ami would be joining the renewable and solid waste management company's board.
MyNews Holdings Bhd’s net loss more than halved to RM3.21 million for the first quarter ended Jan 31, 2023 (1QFY2023), from RM7.86 million a year earlier, on higher revenue due to contributions from new outlets, longer business hours, and higher in-store sales. Losses per share fell to 0.47 sen from 1.15 sen previously. Quarterly revenue rose 32.03% to RM184.09 million versus RM139.44 million previously. Despite higher topline, MyNews said the expected gestation process of the new South Korean convenience store chain CU, and opening of the 58 new stores, crimped its bottomline.
Crescendo Corp Bhd has reported a net loss of RM3.63 million for the fourth quarter ended Jan 31, 2023 (4QFY2023) compared to a net profit of RM4.55 million a year earlier, due to lower sales of properties. Quarterly revenue fell 28% to RM39.27 million from RM54.57 million in 4QFY2022. The group announced a final dividend of two sen per share, payable on Aug 29. This brings the total dividend for FY2023 to five sen.
PTT Synergy Group Bhd (formerly Grand Hoover Bhd) is acquiring construction firm Pembinaan Tetap Teguh Sdn Bhd (PTTSB) from its major shareholders and directors for RM152 million, to grow its construction business. PTT Synergy said it has inked a share sale agreement with its deputy chairman Teo Swee Leng, its managing director Teo Swee Phin and Faddly Nordin to purchase the entire equity interest in PTTSB. It is deemed a related party transaction as Swee Leng and Swee Phin have substantial stakes in Aim Tetap Teguh Group Sdn Bhd (ATTG), which controls a 52.64% stake in PTT Synergy. PTT Synergy's executive chairman also has stakes in AATG.
ManagePay Systems Bhd has entered into a term sheet with Hong Kong-based Eddid Financial Holdings Ltd to form a joint venture (JV) to apply for a capital market services licence (CMSL), as well as to launch and market the trading app Eddid ONE. The parties will enter into a definitive JV agreement within three months, the ACE Market-listed group said in a bourse filing.