KUALA LUMPUR (Nov 1): Here is a brief recap of some corporate announcements that made news on Tuesday (Nov 1): Capital A Bhd, Telekom Malaysia Bhd (TM), IOI Corp Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Frontken Corp Bhd, Dufu Technology Corp Bhd, Sunway Construction Group Bhd (SunCon), Caely Holdings Bhd, Harvest Miracle Capital Bhd, Mitrajaya Holdings Bhd, SKB Shutters Corp Bhd, Eco World Development Group Bhd, Pecca Group Bhd, Datasonic Group Bhd, Sersol Bhd,  ARB Bhd, GIIB Holdings Bhd, Alam Maritim Resources Bhd, KNM Group Bhd, Majuperak Holdings Bhd and Optimax Holdings Bhd.

AirAsia's parent Capital A Bhd has engaged RHB Investment Bank Bhd, BDO Consulting Sdn Bhd, Deloitte Corporate Advisory Services Sdn Bhd and Ernst & Young PLT, besides law firm Adnan Sundra & Low, to help Capital A regularise its financial condition under Bursa Malaysia's Practice Note 17 (PN17) scheme. Capital A, previously known as AirAsia Group Bhd, was classified as a PN17 company on Jan 13 after Bursa Malaysia dismissed its appeal for an extension of the PN17 relief period beyond Jan 7.

Telekom Malaysia Bhd (TM) has launched the first phase of its 5G services by offering unlimited 5G data to existing unifi Mobile postpaid customers and new postpaid and prepaid customers. TM group chief executive officer Imri Mokhtar said 5G will reinforce TM’s leadership in fixed-mobile converged services for the consumer and micro, small and medium enterprise segments, strengthening its mobile capabilities to provide the widest and fastest all-in-one solution for mobile services that meet today’s digital lifestyles.

The Employees Provident Fund (EPF), which owns a 10.275% stake in IOI Corp Bhd had voted for all nine resolutions or proposals at the oil palm planter's annual general meeting on Monday. The nine resolutions included the planned re-election of the company's directors and renewal of its existing share buy-back authority besides a proposal to authorise the directors of IOI to allot and issue shares.

Syarikat Takaful Malaysia Keluarga Bhd’s net profit for the third quarter ended Sept 30, 2022 (3QFY22) rose 20.2% to RM87.27 million from RM72.6 million in the same period last year on higher net wakalah fee income. Quarterly revenue grew 35.09% to RM924.42 million from RM684.32 million in the same period a year earlier on higher sales generated from family takaful and general takaful businesses.For the cumulative nine months, net profit slipped 4.55% year-on-year to RM243.66 million from RM255.29 million despite a near 20% rise in revenue to RM2.75 billion from RM2.3 billion.

Frontken Corp Bhd's net profit for 3QFY22 rose 27% year-on-year to RM34.73 million from RM27.30 million, as a result of improved revenue and better profit margins. The company said revenue for the quarter jumped to RM134.57 million, from RM116.59 million previously, mainly due to better contributions from nearly all its subsidiaries. For the cumulative nine months,  Frontken said its net profit climbed to RM93.45 million from RM74.96 million previously, on the back of a revenue of RM381.91 million versus RM328.74 million.

Dufu Technology Corp Bhd has warned of weaker results in 4QFY22 on prolonged demand weakness for its hard disk drive (HDD) components. For 3QFY22, Dufu's net profit fell 18.92% to RM16.42 million, from RM20.25 million a year ago, on lower revenue. Revenue declined 17.88% to RM74.72 million, from RM90.99 million a year before, mainly due to the decrease in revenue related to HDD components. For the cumulative nine months, net profit however increased by 14.91% to RM63.93 million, from RM55.69 million a year earlier, even though revenue dipped 2.27% to RM252.83 million, from RM258.71 million.

Sunway Construction Group Bhd's (SunCon) unit Sunway Construction Sdn Bhd has been awarded a construction project worth RM278 million from the indirect subsidiary of its parent company Sunway Bhd. The construction job is in respect of the main building works for the proposed development of two blocks of residential condominiums, which consist of a podium, car park, common facilities and swimming pool, located in Bukit Jalil. The project shall commence on Nov 1 and is expected to be completed on Oct 31, 2025.

Caely Holdings Bhd has proposed to acquire a property development and construction company that owns 7.97 hectares of land in Bentong, Pahang, that is earmarked for a mixed commercial and residential development project with an estimated gross development value of RM233.79 million. Caely said it has entered into an agreement with Harvest Miracle Capital Bhd (formerly known as Vortex Consolidated Bhd) to acquire 100,000 shares or a 3.4% stake in Kepayang Heights Sdn Bhd (KHSB) for RM17 million. In addition, Caely has also agreed to subscribe for 100 million shares in KHSB, representing 97.14% of the enlarged issued capital in the company, for RM1.5 million.  

Mitrajaya Holdings Bhd has bagged a RM68.8 million contract for the construction and completion of road improvement works at Endau Rompin National Park, Johor from the East Coast Economic Region Development Council. The contract is for a duration of 120 weeks from the date for possession of the site on Nov 15 and it is expected to be completed by March 3, 2025.

SKB Shutters Corp Bhd has acquired 9.81 acres of industrial land in the Eco Business Park V for RM35.97 million, marking its entry into the industrial park of Eco World Development Group Bhd. SKB Shutters, which manufactures roller shutters, steel doors and storage rack systems, said it acquired the land to set up a new automated manufacturing facility in the industrial park, which is located in Puncak Alam. With the new plant, SKB Shutters is forging ahead with its plans to deploy fully automated fabrication lines, smart optimisation of energy and productivity monitoring and processes, and the launch of Fail-Safe Flood Gate production.

Automotive leather upholstery maker Pecca Group Bhd will be making its physical debut in Indonesia, which is one of the biggest automotive markets in Southeast Asia. Chief executive officer Foo Ken Nee said the company is set to have a physical footprint in Indonesia, which is selling more cars than any other Southeast Asian market, by acquiring PT Gemilang Maju Kencana (GMK), an established upholstery leather wrapping and car seat cover manufacturer.

Datasonic Group Bhd has signed a memorandum of understanding with Meta Doers World Holding Bhd to form a joint venture  company to explore business opportunities related to Metaverse. Datasonic said its collaboration with Meta Doers marks its foray into the Metaverse world focusing on the education sector and healthcare industry. Datasonic executive chairman Datuk Abu Hanifah Noordin said Datasonic’s target markets are primary and secondary schools, higher education and training agencies in Malaysia and Asean countries.

Sersol Bhd expects its joint venture with Thai energy and electric vehicle (EV) motorbike specialist Takuni Group PCL to generate RM900 million in sales across Malaysia, Indonesia and Thailand. Managing director Datuk Justin Lim Hwa Tat said the JV inked in Bangkok diversifies Sersol’s investment portfolio to incorporate a Malaysian entity to handle manufacturing, marketing and distribution of EV motorbike batteries, EV batteries, and charging platforms throughout the region.

Information technology software and platform provider ARB Bhd said its indirect wholly owned unit ARB Cell Sdn Bhd has entered into a shareholder agreement with BFI Asia Holdings Sdn Bhd in relation to BFI Asia's subscription of a 49% stake in ARB Cloud Cosec Sdn Bhd, also an indirect wholly owned subsidiary of ARB. Upon completion of the subscription, ARB Cell and BFI Asia's equity interests in ARB Cloud Cosec will be 51:49. BFI Asia is principally involved in business management consultancy services, while ARB Cell is engaged in the business of digital technology inclusive of big data analysis, IT, Internet of Things and cloud technology.

GIIB Holdings Bhd's external auditor Messrs Grant Thornton Malaysia PLT has expressed a qualified opinion on the rubber compound and related product manufacturer's financial statements for the 18-month period ended June 30, 2022. The auditor also indicated its intention to not seek reappointment at the group's forthcoming annual general meeting. GIIB said Grant Thornton had expressed the qualified opinion due to the impairment of assets related to the group's 51%-owned subsidiary GIIB Healthcare Products Sdn Bhd (GHP), as well as staff cost in wholly-owned subsidiary Big Wheel Green Tyres Sdn Bhd.

Bursa Malaysia said Alam Maritim Resources Bhd and KNM Group Bhd are the newest additions to the list of companies under PN17. A total of 28 companies are currently under the Practice Note 17 (PN17) and Guidance Note 3 (GN3) lists, which represent 2.98% of the total number of 941 companies listed on the Main and ACE Markets of Bursa Securities, as at Nov 1.

Majuperak Holdings Bhd has been granted a time extension of up to April 12, 2023 by Bursa Malaysia to submit its regularisation plan to the relevant regulatory authorities. The company said that on Oct 7 submitted an application for further extension of 12 months up to Oct 10, 2023 to Bursa Malaysia to submit its regularisation plan to the relevant regulatory authorities. Majuperak was classified as an affected issuer after it triggered Paragraph 8.03A(2)(b) of Bursa Malaysia's Main Market Listing Requirements.

Bursa Malaysia Securities Bhd has announced the transfer of Optimax Holdings Bhd’s securities from the ACE Market to the Main Market, under the “healthcare” sector, at 9am on Thursday (Nov 3). Bursa said that after the transfer, the stock short name and stock number will remain unchanged. The private eye specialist service provider was listed on the ACE Market on Aug 18, 2020.