CelcomDigi, Chin Hin, Emico, Astino, Bursa Malaysia, Frontken, F&N, Sunway REIT, UOA REIT and IHH Healthcare

TheEdge Thu, May 04, 2023 12:42am - 4 months View Original

KUALA LUMPUR (May 3): Here is a brief recap of some corporate announcements that made the news on Wednesday (May 3) involving CelcomDigi Bhd, Chin Hin Group Property Bhd, Emico Holdings Bhd, Astino Bhd, Bursa Malaysia Bhd, Frontken Corp Bhd, Fraser and Neave Holdings Bhd (F&N), Sunway Real Estate Investment Trust (Sunway REIT), UOA Real Estate Investment Trust (REIT) and IHH Healthcare Bhd.

CelcomDigi Bhd, the merged entity of Celcom Axiata Bhd and DiGi.Com Bhd, has pulled out from participating in the equity of Digital Nasional Bhd (DNB) after Putrajaya said it will allow the formation of a second 5G network provider in the country as soon as next year. The group said its wholly-owned subsidiaries, Digi Telecommunications Sdn Bhd and Celcom Mobile Sdn Bhd, have terminated their respective agreements to subscribe for a 12.5% stake each in DNB "as the long stop date to fulfil all the conditions precedent has lapsed".

Chin Hin Group Property Bhd has signed an agreement with Ivory Properties Group Bhd to jointly develop the RM475 million Crown Penang, which is targeted for launch in 2Q2024. This will be Chin Hin’s first foray into Penang.

Trophies manufacturer Emico Holdings Bhd is buying a 20% stake in Kedah-based real estate firm PKB-Operasi Tembaga Sdn Bhd from Permodalan Kedah Bhd for RM3.61 million. The remaining 80% stake in PKB-Operasi Tembaga is owned by Operasi Tembaga Sdn Bhd, which is a 70%-indirect subsidiary of Emico. The transaction would enable Emico’s management to have full control over PKB-Operasi Tembaga and also allow full profit enjoyment with the additional 20% of the shares acquired.

A wholly-owned company of flat steel products manufacturer Astino Bhd is buying a 884,703 sq ft piece of land in Klang for RM60.16 million to undertake its expansion programme. The group said Astino (Malaysia) Colour Steel Sheets Sdn Bhd is acquiring the freehold land in Mukim Kapar from Bukit Saujana Jaya Sdn Bhd.

Bursa Malaysia Bhd’s net profit for the first quarter ended March 31, 2023 declined 17.35% to RM56.17 million from RM67.97 million a year earlier, primarily due to lower securities market operating revenue. Quarterly revenue fell 5.32% to RM156.5 million from RM165.3 million.

Frontken Corp Bhd’s net profit for the first quarter ended March 31, 2023 fell 11% year-on-year to RM23.58 million from RM26.52 million, as its subsidiaries in Taiwan and Singapore recorded slightly lower revenue. The group’s overall revenue dipped to RM113.99 million from RM119.15 million. Frontken did not declare any dividend for the quarter.

Fraser and Neave Holdings Bhd's (F&N)’s net profit jumped over 8% to RM101.18 million in the second quarter ended March 31, 2023 from RM93.87 million a year ago, largely due to strategic acquisitions, mainly Cocoaland Holdings Bhd. Revenue rose 9% to RM1.21 billion from RM1.11 billion, driven by festive sales for its Malaysian food & beverage division and contribution from Cocoaland. The group declared an interim dividend of 27 sen per share amounting to RM99 million.

Sunway Real Estate Investment Trust's (Sunway REIT)'s net property income for the first quarter ended March 31, 2023 rose 16.3% year-on-year  to RM138.31 million from RM118.92 million, driven by its retail segment. Quarterly revenue grew 18.7% to RM182.8 million from RM153.97 million.

UOA Real Estate Investment Trust (UOA REIT)’s net profit for the first quarter ended March 31, 2023 fell 8.8% to RM14.61 million from RM16.02 million a year ago, amid a decline in occupancy rate at its older buildings, coupled with an increase in expenditure, driven by higher electricity and borrowing costs.

IHH Healthcare Bhd has declared a special dividend of 9.6 sen for the financial year ending Dec 31, 2023. The hospital operator said the dividend ex-date falls on May 30, while payment will be made on June 30.

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