Menang, Kelington, EcoFirst, Serba Dinamik, UEM Sunrise, GHL, Genetec, Ecobuilt, Lii Hen, AME Elite, SCGM, Parkson, Top Glove, SKP, Milux

TheEdge Mon, Jan 18, 2021 11:59pm - 1 year View Original

KUALA LUMPUR (Jan 18): Based on corporate announcements and news flow today, stocks that may be in focus on Tuesday (Jan 19) may be as follows: Menang Corp (M) Bhd, Kelington Group Bhd, EcoFirst Consolidated Bhd, Serba Dinamik Holdings Bhd, UEM Sunrise Bhd, GHL Systems Bhd, Genetec Technology Bhd, Ecobuilt Holdings Bhd, Lii Hen Industries Bhd, AME Elite Consortium Bhd, SCGM Bhd, Parkson Holdings Bhd, Top Glove Corp Bhd, SKP Resources Bhd and Milux Corp Bhd.

Two of Menang Corp (M) Bhd's shareholders have commenced a court action against the company and its chairman Raja Shahruddin Rashid. The group did not state why the action was initiated by the two shareholders, Toh May Fook and Liew Sook Pin.

Kelington Group Bhd has said it clinched several new contracts totalling RM118 million during the fourth quarter of 2020. The integrated engineering solutions provider said the new contract wins lifted the group's total new orders in financial year 2020 to RM490 million. This marked a new all-time high of new orders secured, surpassing the previous year's record of RM386 million.

EcoFirst Consolidated Bhd is buying seven parcels of land in Sungai Buloh for a combined RM70 million. The land parcels are intended to be developed into a mixed development project with an estimated gross development value of more than RM550 million, which is slated to commence by the end of this year.

Serba Dinamik Holdings Bhd has won US$135.8 million (RM548.2 million) worth of contracts, including eight operations and maintenance (O&M) jobs won by its 75%-owned subsidiary PT Serba Dinamik Indonesia in Indonesia. Additionally, its India-based wholly-owned unit SDIT International Ltd has secured an ICT contract in India. Meanwhile, its local wholly-owned unit Serba Dinamik Sdn Bhd has secured an O&M contract and one engineering, procurement, construction and commissioning contract in Malaysia. However, the two contracts have no specific values affixed as they are on a "call-out" basis, where work orders will be issued as and when needed.

UEM Sunrise Bhd has appointed Sufian Abdullah to the post of chief executive officer, which has been left vacant for some four months after the departure of Anwar Syahrin Abdul Ajib. The group said the appointment of Sufian, 46, would take effect on Feb 2.

GHL Systems Bhd has expanded its service offerings to include vehicle insurance and road tax renewal services following a tie-up with Loanstreet. GHL said its services enable end-to-end road tax and insurance delivery services right to the consumers' doorsteps for a quick and hassle-free process.

Genetec Technology Bhd said today the manufacturing systems specialist is not aware of any rumour or report concerning the group's business and affairs that might have accounted for the company's share trade activity, which saw the stock's price hit limit up while volume registered a ninefold spike. Genetec said there is no corporate development in relation to the group's business and affairs that has not been previously announced including those in the stage of discussion, which might have accounted for Genetec's share trade activity which saw its share price rise as much as 60 sen or about 30% to RM2.63 today.

Ecobuilt Holdings Bhd has secured a RM166.37 million contract to undertake a mixed commercial development project in Kota Kinabalu, Sabah. The group's wholly-owned subsidiary E&J Builders Sdn Bhd has been appointed the main contractor for the project by Golden Wave Sdn Bhd.

Lii Hen Industries Bhd has estimated that capacity loss arising from the temporary closure of operations of its subsidiaries due to Covid-19 will increase to 4.6% from 3.5% of the total estimated annual output volume for the financial year under review. Lii Hen said the affected facilities will resume operations in stages.

Twenty-two Covid-19 cases have been found among migrant worker tenants staying at AME Elite Consortium Bhd's worker dormitories in Kulai and Senai, Johor.

SCGM Bhd announced today its subsidiary Lee Soon Seng Plastic Industries Sdn Bhd (LSSPI) received notification last Saturday that two of its production floor workers tested positive for Covid-19 in a routine test. SCGM said this resulted in a mass screening exercise being carried out for all LSSPI employees.

Parkson Holdings Bhd said Parkson Vietnam Co Ltd (PVC) has received a letter from its landlord in Vietnam alleging, among others, that PVC Is required to pay a total amount of VND66.2 billion (RM12 million) to the landlord for unpaid and outstanding rental and late-payment charges. This is for the period of April 15, 2019 to Jan 14, 2021 and compensation for early termination of the lease.

Top Glove Corp Bhd has refuted claims by the Canadian Broadcasting Corp over alleged unsuitable working conditions at its factories. The rubber glove manufacturer said the allegations raised in the report and the way in which they were presented were misleading and damaging on the basis that they suggested a breach in existing policies that it currently has in place.

SKP Resources Bhd expects 3% of its sales revenue for the financial year ending March 31, 2021 to be impacted by the temporary closure of its Johor Bahru operations. It said the temporary shutdown is expected to lead to some delays in its delivery schedule for two weeks.

Household appliance manufacturer Milux Corp Bhd has proposed a bonus issue of up to 176.29 million shares on the basis of three bonus shares for every one share held. The group said upon completion of the bonus issue, Milux's issued share capital would rise to 235.06 million shares from the current 58.76 million shares. The value of the share capital will remain at RM59.07 million.

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