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PUC, Berjaya Land, Paramount Corp, Paragon Globe, Mesiniaga, YTL Power, Scientex, Red Sena, CLIQ Energy, Astro Malaysia, Gabungan AQRS, Fiamma, Prestar Resources and FSBM

TheEdge Sat, Dec 29, 2018 12:04am - 10 months ago


KUALA LUMPUR (Dec 28): Based on corporate announcements and news flow today, stocks in focus on Monday (Dec 31) may include PUC Bhd, Berjaya Land Bhd, Paramount Corp Bhd, Paragon Globe Bhd, Mesiniaga Bhd, YTL Power International Bhd, Scientex Bhd, Red Sena Bhd, CLIQ Energy Bhd, Astro Malaysia Holdings Bhd, Gabungan AQRS Bhd, Fiamma Holdings Bhd, Prestar Resources Bhd and FSBM Holdings Bhd.

Trading in PUC Bhd's shares will be suspended on Monday (Dec 31) pending a material announcement.

Berjaya Land Bhd plans to divest its entire stake in TPC Nghi Tam Village Ltd (TPC Village), which operates the five-star Intercontinental Hanoi West Lake Hotel, for 1,244.59 billion Vietnamese dong or RM222.18 million.

Berjaya Land said the proposed disposal of its stake in the TPC Village joint venture will result in an estimated gain of about RM192.33 million. Its wholly-owned subsidiary, TPC Development, owns 75% in TPC Village, while the remaining 25% is held by Vietnam-based Thang Long GTC joint stock company.

Paramount Corp Bhd has established a 20-year unrated Islamic Medium Term Notes (Sukuk Murabahah) Programme of up to RM800 million in nominal value.

Paramount said proceeds from the programme will be used to finance its acquisition of land, investment assets, property development projects, refinance existing and future borrowings, and/or to fund its working capital.

Datuk Tan Eng Boon, who is currently facing graft charges for bribing former Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor in relation to a property project in Kuala Lumpur, has resigned as chairman of Paragon Globe Bhd.

Mesiniaga Bhd has bagged a four-month contract worth RM27.4 million from Xiddig Cellular Communications Sdn Bhd for works related to the latter's Malaysia International Internet Gateway (EG-IIM) project.

The project entails the delivery of lab equipment and site preparation for the EM-IIG Project's service testing and verification.

Former secretaries-general of two Ministries, Datuk Seri Long See Wool and Datuk Loo Took Gee, have joined the board of directors of YTL Power International Bhd.

YTL Power said former Transport Ministry secretary-general Long, 64, has been appointed as an independent and non-executive director of the group.

Joining Long in the board is Datuk Loo Took Gee, 62, who was secretary-general of the Energy, Green Technology and Water Ministry from August 2010 to August 2016 and then advisor to the Minister between September 2016 and September 2017.

Scientex Bhd's net profit fell 25.9% to RM53.67 million for the first financial quarter ended Oct 31, 2018 (1QFY19), from RM72.4 million a year ago, on lower revenue from the group's property business.

Quarterly revenue, however, was up 9% to RM713.64 million from RM655.01 million in 1QFY18, due to strong manufacturing business.

The share trading of Red Sena Bhd, a food and beverage special purpose acquisition company (SPAC), will be suspended from Jan 16 next year, to pave the way for the group’s extraordinary general meeting on the proposed voluntary wind-up and liquidation processes.

If shareholders approve the proposed resolutions, the suspension of trading of the company's shares will continue until the company is de-listed from the official list of Bursa Securities, Red Sena said.

CLIQ Energy Bhd, which is in the midst of being wound up, said today final distribution of the remaining monies in the cash trust account will be made to shareholders next month.

The special purpose acquisition company (SPAC) had on Dec 17 obtained tax clearance from the Inland Revenue Board, clearing its final hurdle for the final distribution of the remaining monies.

Astro Malaysia Holdings Bhd’s wholly-owned subsidiary, MEASAT Broadcast Network Systems Sdn Bhd (MBSN), has secured an RM300 million term loan from AmBank (M) Bhd.

The term loan is to be used to finance MBSN's production, purchase and licensing of content/programmes/channels, to purchase set-top boxes (including the settlement of vendor financing), for capital expenditure — including asset acquisition for broadcast and transmission and acquisition of software and platforms, and/or for lending to any member of the Astro Group at a mutually agreed interest rate.

Gabungan AQRS Bhd has appointed Tera Realty as an exclusive international marketing agent in China for its One Jesselton Waterfront Condominium and Service Residence in Kota Kinabalu, Sabah for three months, commencing March 1, 2019.

The appointment comes with an option to extend for another three months.

Electrical home appliances group Fiamma Holdings Bhd has redesignated its 69-year-old non-executive director Datuk Bahar Ahmad as its new independent and non-executive chairman. The appointment took effect today.

He is replacing Tan Sri Azizan Husain, 74, who has resigned "to pursue other personal commitment".

Prestar Resources Bhd is acquiring a 8,093 square metres freehold land in Rawang, together with a three-storey building and a single-storey warehouse built upon it, for RM14.5 million to expand its pallet racking business.

Loss-making FSBM Holdings Bhd has for the fourth time announced that it is unable to issue its annual report for the financial year ended June 30, 2018 (FY18), this time by Dec 31, for submission to Bursa Securities and shareholders.

The IT service and systems provider said it is still striving to resolve outstanding issues relating to the recoverability of certain trade and other receivables.

It added that it requires more time to complete the outstanding financial statements and will endeavour to issue and submit its Annual Report 2018 by March 29 next year.

 








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