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Kumpulan Powernet, Ikhmas Jaya, Malaysia Smelting Corp, Icon Offshore, MAHB, DRB-Hicom and Matrix Parking Solutions

TheEdge Tue, Jun 11, 2019 12:36am - 7 months ago

KUALA LUMPUR (June 10): Based on corporate announcements and news flow today, stocks in focus tomorrow (June 11) may include: Kumpulan Powernet Bhd, Ikhmas Jaya Bhd, Malaysia Smelting Corp Bhd, Icon Offshore Bhd, Malaysia Airports Holdings Bhd (MAHB), DRB-Hicom Bhd and Matrix Parking Solutions Bhd. 

Kumpulan Powernet Bhd said certain substantial shareholders and directors are negotiating and finalising the terms of a share sale agreement to dispose of their shares in response to an unusual market activity (UMA) query earlier today. Other than that it is not aware of any other possible reasons to account for the unusual trading activity. 

Ikhmas Jaya Group Bhd has secured two subcontract jobs for the Setiawangsa-Pantai Expressway (SPE or DUKE Phase 3) from Knusford Construction Bhd for the construction of bridge structures for different parts of the SPE. The first contract is worth RM23.5 million and will take 37 weeks to complete, while the other is worth RM51.8 million and is to last 15 months. Its year-to-date contract wins now stand at RM470 million. 

Malaysia Smelting Corp Bhd refuted a Reuters report which alleged the group is delaying tin shipments to customers worldwide, due to a shortage of concentrate. It said its operations are business as usual and delivery of shipments to its customers are on schedule. The article, which quoted sources, said the company informed its customers deliveries could take two to three weeks, instead of the usual three to four day, and that shipments have seen delays since February. 

Icon Offshore Bhd secured a RM39 million contract to provide anchor handling tugs supply (AHTS) to Sarawak Shell Bhd/ Sabah Shell Petroleum Co Ltd (Shell). The contract was secured on May 3, but it was only allowed to announce it today. The contract is to last more than two years or 825 days — with two one year extensions in place. The commencement date for the contract and vessel hire date was April 6. 

Malaysia Airports Holdings Bhd (MAHB)’s airport network saw a 1.3% y-o-y growth with 10.6 million passengers in May, despite the Ramadhan fasting period which began on May 6, 2019. International passengers grew 3.2% to 5 million passengers, while domestic passengers slipped 0.3% to 5.6 million passengers. For the first five months of 2019, passenger movements grew 4.1% to 42.04 million, from 40.37 million passengers last year. 

DRB-Hicom Bhd’s 50.1% owned subsidiary Proton Holdings Bhd saw sales volume increase 51.3% m-o-m to 10,611 units — constituting a 46 month high — helping push sales in the first five months of 2019 to grow over 70% from the corresponding period last year. The car maker’s market share stood at 17.2% in May. Proton highlighted that demand for the X70 drove the increase in sales volume, while its updated Iriz and Persona models also saw stronger demand. 

Matrix Parking Solution Holdings Bhd debuted on the Leap Market at a premium of 19.23% at 15.5 sen, from its issue price of 13 sen — with a total of 55,000 shares exchanging hands at the opening bell. It closed even higher at 17 sen today, up 30.77%.

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ICON 0.815
IKHMAS 0.080
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MATRIX 1.920
MPSOL 0.170
MSC 0.850


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