BToto, Boustead Plantations, DRB-Hicom, Telekom, Axiata, Maxis, DiGi, TA Enterprise, TA Global and TSH Resources

TheEdge Tue, Jun 02, 2020 11:32pm - 3 years View Original


KUALA LUMPUR (June 2): Based on corporate announcements and news flow today, stocks in focus on Wednesday (June 3) may include: Berjaya Sports Toto Bhd, Boustead Plantations Bhd, DRB-Hicom Bhd, Telekom Malaysia Bhd, Axiata Group Bhd, Maxis Bhd, DiGi.Com Bhd, TA Enterprise Bhd, TA Global Bhd and TSH Resources Bhd.

Berjaya Sports Toto Bhd (BToto) announced that it made a net profit of RM48.61 million for the third quarter ended March 31, 2020 (3QFY20), on a revenue of RM1.33 billion. No comparison numbers were provided for the previous year’s corresponding period, due to a change in its financial year end from April 30 to June 30.

BToto said the movement control order (MCO) has impacted the operations of Sports Toto, as six draws in 3QFY20 had been cancelled. Should the conditional MCO end on June 9, number forecast operators are allowed to resume operations on June 10 onwards and Sports Toto will effectively have only nine draws in 4QFY20.

Boustead Plantations Bhd narrowed its net loss to RM9.55 million in the first quarter ended March 31, 2020 (1QFY20), from RM16.2 million a year ago, as revenue jumped 21% to RM162.69 million from RM134.91 million on improved prices of palm products.

On prospects, Boustead Plantations said its profitability hinges mainly on the realised selling prices of its palm products, and the group’s planned transformation programme. Notwithstanding that, it said FY20 is expected to be a challenging year for many industries due to the Covid-19 outbreak.

DRB-Hicom Bhd is buying the remaining 49% equity stake in Media City Ventures Sdn Bhd (MCV) from its controlling shareholder Tan Sri Syed Mokhtar Albukhary for RM100 million cash. The diversified group already owns a 51% stake in MCV, which it bought from the tycoon four years ago at the price tag of RM85.68 million.

On completion of the proposed acquisition, DRB-Hicom said its total cost of investment for 100% equity interest in MCV would be RM185.68 million, which is within the market value of between RM167.40 million and RM248.86 million.

Telekom Malaysia Bhd (TM) and Axiata Group Bhd's unit Celcom Axiata Bhd, as well as units from Maxis Bhd and DiGi.Com Bhd, have been given the 700 megahertz (MHz) band of 5G network by the Ministry of Communications and Multimedia (KKMM).

In a ministerial order by KKMM Minister Datuk Saifuddin Abdullah dated May 15 posted on the official website, the five companies were awarded the 5G spectrum bands between 703MHz to 743MHz, and 758MHz to 798MHz. This comes as a surprise to many in the industry who were expecting an open tender process to take place.  

The Securities Commission (SC) has rejected TA Enterprise Bhd's (TAE) application to withdraw its voluntary takeover offer (VTO) to buy the remaining 39.83% stake it does not own in TA Global Bhd — a move to take the property arm private.

In a bourse filing, TAE said the SC had, vide its letter dated June 1, resolved to decline the application for the withdrawal after having considered the justifications provided on a holistic basis. This means that TAE will have to carry on with the VTO at 28 sen per share. Nonetheless, uncertainty remains on the privatisation deal.

TSH Resources Bhd has reported a fire incident at a factory owned by its wholly-owned subsidiary Ekowood International Bhd. The fire broke out at the factory located in Gopeng, Perak at about 7.50pm yesterday. The operational impact is not expected to be material to the group as a whole, it said, though the estimated loss is yet to be ascertained. 

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