FSBM, George Kent, JHM, Sapura Energy, Sime Darby Plantation, Tan Chong, TDM and TH Plantations

TheEdge Tue, Dec 31, 2019 11:07pm - 4 years View Original


KUALA LUMPUR (Dec 31): Based on corporate announcements and news flow today, stocks in focus on Thursday may include FSBM Holdings Bhd, George Kent (M) Bhd, JHM Consolidation Bhd, Sapura Energy Bhd, Sime Darby Plantation Bhd, Tan Chong Motor Holding Bhd, TDM Bhd and TH Plantations Bhd

FSBM Holdings Bhd has lapsed into PN17 status after a disclaimer of opinion was issued on its audited financial statements for the financial year ended June 30, 2018 (FY18). FSBM’s auditors expressed the disclaimer of opinion as they could not obtain enough appropriate evidence to provide a basis for an audit opinion.

George Kent (M) Bhd chairman Tan Sri Tan Kay Hock says it will take legal action against Focus Malaysia and one of its writers for their report suggesting that Tan will sell his stake in the company. He said the publication made no attempts to contact him prior to the article’s publication and that the statements made in the article are fictitious. As of April 30, 2019 Tan owned direct and indirect stakes of 4.99% and 39.15%.

JHM Consolidation Bhd plans to transfer its listing to the Main Market from the ACE Market. The group said it has satisfied the required profit track record for the transfer, demonstrating a healthy financial position and liquidity, and an adequate public shareholding spread. Its application to the Securities Commission for the proposed transfer is expected to be made within the next three months.

Sapura Energy Bhd has appointed PNB president and group CEO Abdul Jalil Abdul Rasheed as its non-independent and non-executive director, effective Jan 1. He replaces Datin Paduka Kartini Abdul Manaf, who stepped down after serving the board since April 2019. PNB and associated funds own a 40% stake in Sapura Energy.

Tunku Alizakri Raja Muhammad Alias has been appointed a non-independent and non-executive director of Sime Darby Plantation Bhd, effective Jan 1. He will also serve on the group's sustainability committee. He replaces Datuk Mohammad Nasir Ab Latif, 61, as the nominee director from EPF.

Tan Chong Motor Holding Bhd appointed Ho Wai Ming, 48, as its CEO effective Jan 1. He was its chief financial officer from Jan 1,2015 and has been in the automotive distributor for the last 14 years. He succeeds Datuk Dr Khor Swee Wah, who has been redesignated as its deputy president.

TDM Bhd is to buy from TH Plantations Bhd a 70% stake in the latter’s subsidiary for RM7 million to expand TDM’s oil palm plantations in Terengganu. The two planters entered heads of agreement to start the process. TDM will acquire THP’s entire 70% stake in the 70:30 JV, THP-YT,  that THP shares with Yayasan Terengganu.

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Related Stocks

FOCUS 0.010
FSBM 0.305
GKENT 0.470
JHM 0.570
SAPRES 0.330
SIME 2.600
SIMEPLT 4.350
TDM 0.275
THPLANT 0.735

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