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Pansar, Matrix Concepts, Malaysia Airports, EcoFirst, Sarawak Plantation, Securemetric, Kumpulan Perangsang Selangor, D'nonce, OCR, Lafarge, YTL Corp, Yong Tai, Dayang and Perdana Petroleum

TheEdge Sat, May 18, 2019 01:00am - 9 months ago

KUALA LUMPUR (May 17): Based on corporate announcements and news flow today, stocks in focus for Tuesday (May 21) may include the following: Pansar Bhd, Matrix Concepts Bhd, Malaysia Airports Holdings Bhd, EcoFirst Consolidated Bhd, Sarawak Plantation Bhd, Securemetric Bhd, Kumpulan Perangsang Selangor Bhd, D’nonce Technology Bhd, OCR Group Bhd, Lafarge Malaysia Bhd, YTL Corp Bhd, Yong Tai Bhd, Dayang Enterprise Holdings Bhd and Perdana Petroleum Bhd.  

Pansar Bhd has won a RM77.7 million contract to undertake flood mitigation work in Sibu.

Pansar said its wholly-owned subsidiary Pansar Engineering Services Sdn Bhd was awarded the Sibu Flood Mitigation Project Phase 3 project by Kiasan Engineering Sdn Bhd.

Pansar said the contract entails works for two pumping stations with water catchment, drainage upgrading and widening, and road topping along Jalan Kampung Hilir and Jalan Kampung Nangka.

Matrix Concepts Bhd is targeting to launch RM1.3 billion worth of projects comprising residential and commercial developments this year.

Its chief marketing officer Lim Kok Yee said the company is confident of achieving the target, despite a recent slight slump in the property sector.

Malaysia Airports Holdings Bhd has achieved the ISO 37001:2016 certification for its Anti-Bribery Management System (ABMS), which is currently used for its procurement process.

The ISO 37001:2016 is an anti-bribery management system standard that is designed to help an organisation establish, implement, maintain and improve an anti-bribery compliance programme with a series of measures to detect, prevent and respond to any form of bribery in line with global anti-bribery good practices.

Malaysia Airports general manager of procurement Ibrahim Chang Boon Teck said there are fewer than 30 establishments in Malaysia that have obtained this certification.

EcoFirst Consolidated Bhd announced today that it has called off plans to acquire a 70% stake in private property development firm Geo Valley Sdn Bhd for RM44 million cash.

EcoFirst said the agreements were terminated because certain conditions were not fulfilled within the three-month deadline, and that the parties were unable to mutually agree to the extension of the cut-off date.

Sarawak Plantation Bhd is back in the black in the first quarter ended March 31, 2019 on the back of higher sales volume in crude palm oil and palm kernel.

The group said it posted a RM4.66 million net profit, against a RM1.74 million net loss seen in the corresponding quarter a year ago. Revenue declined 2.16% to RM69.4 million, from RM70.94 million previously.

Securemetric Bhd has won two contracts with a combined value of RM3.94 million to supply digital security solutions to Vietcombank.

The first contract, worth US$590,568 (RM2.46 million), was awarded by Prognostic Services Pte Ltd, a regional mobile satellite telco services provider, for Securemetric to supply two-factor authentications solutions and hardware security module to Vietcombank.

The other contract was awarded by IT consulting services firm Information And Networking Technology Joint Stock, for 8.26 billion dong (RM1.48 million). Under this contract, Securemetric is to supply user licenses for 2FA, as well as install and integrate both 2FA and HSM for Vietcombank.

Kumpulan Perangsang Selangor Bhd (KPS) is acquiring plastic injection moulding company Toyoplas Manufacturing (Malaysia) Sdn Bhd for RM311.25 million.

KPS said its wholly-owned subsidiary Perangsang Dinamik Sdn Bhd has entered into a share sale agreement with Toyoplas Consolidated Ltd today for the purpose of the acquisition.

KPS's board believes that acquiring Toyoplas Manufacturing, with its diversified geographical presence and industry mix, will allow the group to diversify its geographical revenue mix and enlarge its regional footprint via the cross-selling of each other’s capabilities leading to an enlarged customer base.  

Besides that, KPS pointed out that the proposed acquisition presents an opportunity to expand its manufacturing sector specifically in plastic injection moulding and its related businesses that are currently undertaken by its wholly-owned subsidiary CPI (Penang) Sdn Bhd.

D’nonce Technology Bhd and OCR Group Bhd are teaming up to develop affordable apartments in Seberang Perai Tengah, Penang.

OCR’s unit Fajar Simfoni Sdn Bhd (FSSB) has entered into a joint venture with D’nonce’s wholly-owned unit D’nonce Properties Sdn Bhd (DPSB) to develop a 19-storey block housing 281 units of flats and a seven-storey car park podium on 6,774 sq m of land belonging to Tan Than Kau and Tan Tiang Yang.

The project will have a gross development value of RM85 million.

Yeoh Khoon Cheng has resigned as Lafarge Malaysia Bhd's chief executive officer effective today.

Separately, several executives of YTL Corp Bhd have been appointed to Lafarge Malaysia’s board.

YTL Corp executive chairman Tan Sri Dr Francis Yeoh, 64, and managing director Datuk Yeoh Seok Kian, 61, have been made executive directors of Lafarge Malaysia.

Other members of the Yeoh family appointed to Lafarge Malaysia’s board as executive directors are Datuk Yeoh Soo Keng, 55, and Datuk Yeoh Seok Hong, 59.

The changes came as YTL Corp acquired a 51% stake in Lafarge Malaysia via subsidiary YTL Cement Bhd.

Yong Tai Bhd’s chief executive officer Datuk Wira Boo Kuang Loon is injecting RM36 million in cash into the developer, raising his stake to 20% to sustain the group’s ongoing property development projects.

Boo said that he is raising his stake in the group, which currently stands at 12%, via special purpose vehicle Domain Capital Sdn Bhd (DCSB) which will subscribe to 100 million new shares in the group.

Meanwhile, Yong Tai said it was looking to raise RM144 million from a proposed special issue of up to 400 million new shares, and that it has concurrently entered into three subscription agreements with DCSB, Datin Seri Faridatulfirdaus Ariff and Full Intelligent International Ltd.

Dayang Enterprise Holdings Bhd is proposing to restructure its debt with a RM682.5 million sukuk issuance. From the money raised, RM365 million will be advanced to its subsidiary Perdana Petroleum Bhd to settle the latter’s existing borrowings.

Dayang, which owns a 60.48% stake in Perdana, will then subscribe for RM455 million worth of redeemable convertible preference shares (RCPS) under a renounceable rights issue that Perdana is proposing to undertake. This will set off the RM455 million debt that Perdana owes Dayang.

Related Stocks

DAYANG 2.860
KPS 0.600
MATRIX 1.950
OCR 0.260
PANSAR 0.680
YTL 0.970


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