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Gamuda, KNM, Kerjaya Prospek, Apex Equity, Serba Dinamik, Kumpulan Powernet, Censof, Marine & General, Tenaga, Barakah Offshore, PetGas, AirAsia Group, DNeX, Sarawak Cable, Matang, VSolar, DBE Gurney, MISC and Lotte Chemical Titan

TheEdge Wed, Oct 02, 2019 11:39pm - 10 months ago

KUALA LUMPUR (Oct 2): Based on corporate announcements and news flow today, stocks in focus on Thursday (Oct 3) may include Gamuda Bhd, KNM Group Bhd, Kerjaya Prospek Group Bhd, Apex Equity Holdings Bhd, Serba Dinamik Holdings Bhd, Kumpulan Powernet Bhd, Censof Holdings Bhd, Marine & General Bhd, Tenaga Nasional Bhd, Barakah Offshore Petroleim Bhd, Petronas Gas Bhd, AirAsia Group Bhd, Dagang NeXchange Bhd, Sarawak Cable Bhd, Matang Bhd, VSolar Group Bhd, D.B.E. Gurney Resources Bhd, MISC Bhd and Lotte Chemical Titan Holding Bhd.

Gamuda Bhd will buy a 50% stake in Martinus Rail Pty Ltd under a planned collaboration to bid for some A$20 billion (RM56 billion) worth of construction projects in Australia.

KNM Group Bhd has secured three additional contract agreements worth a total of US$12.45 million or approximately RM52.17 million.

The three agreements, which are for the design, engineering and supply of pressure vessels, are on top of two contracts disclosed yesterday for the RDMP RU-V Balikpapan Project in East Kalimantan of Indonesia.

Kerjaya Prospek Group Bhd has landed a piling contract worth RM22.6 million from Bintang Holdings Sdn Bhd.

The contract is the fourth awarded by the Low Yat Group of companies, which Bintang Holdings is a member of.

Apex Equity Holdings Bhd said it will be seeking the approval of its shareholders once again on the proposed merger of its unit JF Apex Securities Bhd and Mercury Securities Sdn Bhd after the High Court invalidated the resolutions for the merger.

Serba Dinamik Holdings Bhd group managing director and CEO Datuk Dr Mohd Abdul Karim Abdullah has made a takeover offer to buy the remaining shares in Kumpulan Powernet Bhd at RM1 each.

Mohd Abdul Karim and persons acting in concert already own a 46.81% stake in KPB, and they intend to maintain the listing status.

Censof Holdings Bhd has bagged an RM34.77 million three-year contract from the Inland Revenue Board of Malaysia to install licence renewal, software support and maintenance services for data warehouse systems at the board.

Marine & General Bhd (M&G) has bagged an RM17 million contract by Petronas Carigali Sdn Bhd for the provision of a unit of anchor handling tug and supply vessel for the petroleum arrangement contractors’ production operations.

M&G said the contract, received by Jasa Merin (Malaysia) Sdn Bhd, commenced on Sept 16 and has a duration of 709 days, with an option to extend the contract for a one-plus-one-year term.

Tenaga Nasional Bhd (TNB) said it will be making its maiden delivery of liquefied natural gas (LNG) trial cargo this month. It said this has resulted in a real cost saving in terms of delivered gas price.

TNB’s unit, TNB Fuel Services Sdn Bhd (TNBF), today signed an agreement with TNB and TNB Connaught Bridge Sdn Bhd for the delivery.

A total of 3.5 trillion British thermal units of gas will be delivered to TNB’s Tuanku Jaafar Power Station in Port Dickson and TNB Connaught Bridge Power Station in Klang.

The gas from this LNG trial cargo is expected to be consumed fully by these two power plants within 14 days with a daily average quantity of 270,000 gigajoules.

Barakah Offshore Petroleum Bhd has issued a notice demanding RM179.84 million to Petronas Gas Bhd (PetGas).

Barakah said if  PetGas fails to pay the RM179.84 million in claims within 14 days from the date of service of the notice, it will commence legal proceedings against PetGas.

AirAsia Group Bhd has began flying four times weekly services from Kuala Lumpur to Belitung from yesterday. This is in addition to the daily flights between Jakarta and Belitung.

Dagang NeXchange Bhd (DNeX) has bagged a contract extension worth RM57 million from the Accountant General’s Department for an information and communication technology maintenance project.

Under the contract, DNeX’s unit Innovation Associates Consulting Sdn Bhd (iAC) will be responsible for maintenance of hardware, software and network equipment of the integrated Government Financial and Management System (iGFMAS), an accrual accounting shared services implementation.

Power cables and wires manufacturer Sarawak Cable Bhd has proposed to raise up to RM7.29 million through a private placement to fund its working capital requirements.

Sarawak Cable said the working capital requirement includes procurement cost for raw materials for the group's power and telecommunication cable manufacturing operations and steel structures fabrication operations.

Given the softening of crude palm oil prices in recent years, Matang Bhd is planning to diversify its business to include durian plantation and related activities, which it believes may contribute 25% or more to the group’s net profits, moving forward.

Matang, which currently derives all its revenue from the sale of fresh fruit bunches from its oil palm plantation activities, said the diversification is to mitigate its reliance on oil palm, diversify and expand its earnings base, going forward.

VSolar Group Bhd’s unit has signed a Memorandum of Understanding with Mattan Engineering Sdn Bhd to conduct a feasibility study for the development of a solar energy generation facility in Seremban.

VSolar said the facility will be developed on a parcel of land, measuring 121.4 ha, that belongs to Permaju Industries Bhd’s wholly-owned subsidiary Genbayu Gemilang Sdn Bhd.

Datuk Ding Seng Huat, the group managing director of D.B.E. Gurney Resources Bhd, is buying a 51% controlling stake in six wholly-owned subsidiaries of DBE for a combined RM32.58 million cash.

The units are D.B.E. Poultry Sdn Bhd, D.B.E. Breeding Sdn Bhd, D.B.E. Hatchery Sdn Bhd, D.B.E. Marketing Sdn Bhd, D.B.E. Food Processing Industries Sdn Bhd and D.B.E. Gurney Chicken Sdn Bhd.

Petroliam Nasional Bhd (Petronas) through its subsidiary Petronas LNG Sdn Bhd has awarded a 7,500 cubic meter liquefied natural gas (LNG) carrier time charter party to a joint venture (JV) involving MISC Bhd and UK-based Avenir LNG Ltd.

Avenir and the JV will manage the commercial operations of the LNG carrier whereas ship management services will be provided by Eaglestar Shipmanagement (L) Pte Ltd, a wholly-owned subsidiary of MISC.

Lotte Chemical Titan Holding Bhd shareholders today voted in favour of the group’s plan to divest a 49% stake in its Indonesian integrated petrochemical facility project to its parent Lotte Chemical Corp.

The divestment will lead to the parent company emerging as joint venture partner to develop the LCI New Ethylene project (LINE project) in Cilegon, Indonesia.


Related Stocks

APEX 1.110
CENSOF 0.165
DNEX 0.265
GAMUDA 3.400
KNM 0.220
KPOWER 2.780
M&G 0.060
MATANG 0.085
MISC 7.830
PETGAS 16.280
SCABLE 0.255
TENAGA 10.940
VSOLAR 0.050


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