KUALA LUMPUR (May 24): Based on corporate announcements and news flow today, companies that may be in focus on Tuesday (May 25) include Pertama Digital Bhd, Green Packet Bhd, MY EG Services Bhd, Asia Brands Bhd, Genting Malaysia Bhd, Pimpinan Ehsan Bhd, Genting Plantations Bhd, Hap Seng Plantations Holdings Bhd, Sarawak Oil Palms Bhd, Kronologi Asia Bhd, Karex Bhd, Oriental Food Industries Holdings Bhd, Eco World Development Group Bhd, UEM Sunrise Bhd, MMC Corp Bhd, Dutch Lady Milk Industries Bhd, Tan Chong Motor Holdings Bhd, Optimax Holdings Bhd, KNM Group Bhd, OKA Corp Bhd, Gagasan Nadi Cergas Bhd, Ajinomoto (Malaysia) Bhd, Hibiscus Petroleum Bhd, FGV Holdings Bhd, Lay Hong Bhd, KPower Bhd, Techfast Holdings Bhd and UMW Holdings Bhd.

Pertama Digital Bhd has roped in Indonesia-based Crowdo Holdings Pte Ltd as its first consortium partner for the purpose of applying for a digital bank licence from Bank Negara Malaysia. In a statement today, Pertama Digital said Crowdo was among the first batch of fintech players to be fully licensed by Indonesian financial service authority Otoritas Jasa Keuangan to provide digital lending services to small and medium enterprises.

Green Packet Bhd posted a net profit of RM18.8 million for the first quarter of financial year 2021 (1QFY21) ended March 31, 2021, from a net loss of RM34.07 million a year earlier, mainly due to gain on disposal of shareholding in an associate, mitigated by the fair value loss in other quoted investments. It recorded earnings per share of 1.6 sen versus loss per share of 3.6 sen previously. The group's revenue, however, slipped 2.95% to RM142.71 million from RM147.05 million on lower sales and revenue from its smart devices and communications business.

MY EG Services Bhd (MyEG) has inked a memorandum of understanding (MoU) to bring in a Covid-19 rapid breath test system to Malaysia. The group announced that it has signed an MoU with Singapore-based Breathonix Pte Ltd, which has developed a real-time breath test system for Covid-19. The MoU expires on July 1.

Asia Brands Bhd swung to profitability in 4QFY21 ended March 31, 2021 with RM1.71 million, from RM1.01 million in losses a year ago, thanks to a higher revenue and lower operating and finance costs. Quarterly revenue rose 16.55% to RM44.11 million, from RM37.84 million for 4QFY20, when the first Movement Control Order (MCO) was enforced.

Genting Malaysia Bhd's (GENM) Resorts World Genting (RWG) will be limiting its operating hours from 8am to 8pm, effective May 25 until June 7. RWG's casino will also be temporarily closed from today until further notice. RWG said in a statement that the change in operation hours applies to all of its hotels, food and beverage outlets, shopping malls, retail outlets and other facilities.

Pimpinan Ehsan Bhd (PEB), which has requested its stock to be halted from trading today, is acquiring renewable energy company reNIKOLA Holdings Sdn Bhd for RM373 million. The RM373 million consideration will be satisfied by issuance of new PEB shares at RM1.07 per share.

Genting Plantations Bhd (GENP) saw its net profit for 1QFY21 ended March 31, 2021 fall 30.19% to RM63.73 million from RM91.3 million a year ago, partly due to lower interest income and shares of results of joint ventures and associates during the period. The group said its quarterly revenue also declined by 5.7% to RM536.58 million compared with RM569.04 million, due to lower sales reported by its downstream manufacturing segment.

Hap Seng Plantations Holdings Bhd posted a net profit of RM29.37 million for 1QFY21 ended March 31, 2021, compared with a net loss of RM6.02 million a year earlier, due to higher average crude palm oil and palm kernel prices. Quarterly revenue was up by 19% at RM121.32 million, from RM101.86 million in 1QFY20.

Sarawak Oil Palms Bhd registered an 11.03% increase in net profit to RM79.06 million for 1QFY21 ended March 31, 2021, from RM71.2 million a year earlier, on the back of a higher revenue. Quarterly revenue surged 52.16% to RM788.32 million from RM518.08 million.

Kronologi Asia Bhd has proposed to acquire the remaining 83.33% stake in Quantum China Ltd (QCL) it does not own for RM150 million via a combination of cash and new Kronologi Asia shares. Kronologi Asia has held 15.37% in QCL since 2018. The company provides "Quantum" branded enterprise data management infrastructure technology company solutions in China, including data backup, storage and recovery solutions.

Karex Bhd, the world's largest condom manufacturer, saw its net loss widen to RM3.17 million in 3QFY21 ended March 31, 2021 (3QFY21) from RM1.13 million a year ago, due to disruptions to global logistics network which affected the delivery of several orders. The worsening Covid-19 situation in Malaysia also resulted in a reduced output for the group's Malaysian manufacturing facilities.

Oriental Food Industries Holdings Bhd said its premises in Air Keroh Industrial Estate, Melaka is temporarily closed for a week until May 29. The group said it received a notice from the Ministry of Health to shut its premises on May 23.

Eco World Development Group Bhd (EcoWorld) said today it achieved RM2.02 billion sales in the first half of 2021. EcoWorld president and chief executive officer Datuk Chang Khim Wah said the group experienced stronger sales in 2QFY21 ended April 30, 2021 with RM1.3 billion sales achieved, compared with the RM706 million it recorded in the immediate preceding quarter.

UEM Sunrise Bhd saw its net loss for 1QFY21 ended March 31, 2021 narrow to RM4.32 million, from RM22.15 million a year ago, underpinned by higher revenue and foreign exchange gain. The group said revenue rose 29.02% to RM252.69 million, from RM195.85 million in 1QFY20, driven by higher progress billings and construction progress from local developments, mainly Residensi Solaris Parq in Dutamas, Aspira ParkHomes in Gerbang Nusajaya, Serene Heights Bangi and Kiara Kasih in Mont Kiara, as well as higher sales of Estuari Gardens in Puteri Harbour.

MMC Corp Bhd saw its net profit for the quarter ended March 31, 2021 jump 115.45% to RM124.7 million, from RM57.88 million a year earlier, thanks to higher volume handled at Pelabuhan Tanjung Pelepas Sdn Bhd (PTP) and Northport Malaysia Bhd. The higher earnings were also due to a gain on sublease of land at PTP, as well as lower finance costs incurred.

Dutch Lady Milk Industries Bhd saw its net profit for 1QFY21 ended March 31, 2021 fall by 25.8% to RM16.88 million, from RM22.73 million a year ago, amid higher dairy prices and depreciation costs. The group announced that its quarterly revenue increased by 3% year-on-year to RM258.64 million, from RM251.17 million previously.

Tan Chong Motor Holdings Bhd returned to the black with a net profit of RM7.74 million for 1QFY21 ended March 31, 2021 from a net loss of RM9.26 million a year ago, despite lower revenue recorded. Before this, the group had been loss-making for six consecutive quarters since 3QFY19. The improvement came amid a better sales mix that resulted in better earnings margins, lower operating expenses, reversal of impairment on hire purchase receivables and an unrealised foreign exchange gain during the current quarter under review.

Optimax Holdings Bhd will see three of its ambulatory care centres and one specialist hospital serve as vaccination sites for the National Covid-19 Immunisation Programme (PICK). The group said its Optimax TTDI, Optimax Ipoh and Optimax Seremban centres, as well as its Optimax Eye Specialist Hospital in Penang have been appointed by ProtectHealth Corp Sdn Bhd, the government-owned executor for private general practitioners' participation in PICK.

KNM Group Bhd has proposed a private placement of up to 987.52 million new shares, representing 30% of its share capital, to raise RM167.9 million in proceeds for the purpose of repaying its bank borrowings. The engineering group said up to 493.75 million or 50% of the placement shares will be placed out to its executive vice chairman and major shareholder, Gan Siew Liat.

OKA Corp Bhd said its results for 4QFY21 ended March 31, 2021 will only be issued by June 30. The company said it is making use of the extension of time granted by Bursa Malaysia last Friday (May 21) to all listed issuers to submit their quarterly reports and annual reports, which were originally due by May 31, 2021 and June 30, 2021 respectively, by another month.

Gagasan Nadi Cergas Bhd has won contracts totalling RM385 million from Paramount Corp Bhd to build 2,005 units of high-rise affordable homes in Selangor. The turnkey contracts involve 929 units of affordable homes in Kemuning Utama worth RM189.79 million, and 1,076 units of affordable homes in Greenwood Salak Perdana worth RM195.21 million.

Ajinomoto (Malaysia) Bhd's net profit tumbled 63.47% to RM5.79 million for 4QFY21 ended March 31, 2021, from RM15.85 million a year ago. This is the group's lowest quarterly net profit since 4QFY15 when it reported a net profit of RM5.69 million. The group said its operating profit shrank to RM6.6 million from RM19.1 million in 4QFY20 mainly due to higher advertising and sales promotion expenses.

Hibiscus Petroleum Bhd's net profit rose 12.52% to RM32.03 million for 3QFY21 ended March 31, 2021, from RM28.47 million a year ago, on improved oil prices. Its quarterly revenue grew 22.81% to RM215.98 million from RM175.86 million.

FGV Holdings Bhd and its information technology (IT) arm FGV Prodata System Sdn Bhd do not expect any financial and operational impact following a RM170.7 million compensation and damages claim by VDSL Technology Sdn Bhd. FGV said it is seeking legal advice to act against the May 18, 2021 writ of summons from VDSL, an IT and related activities company.

Lay Hong Bhd saw its net loss widen to RM7.46 million or 1.13 sen per shares for its 4QFY21 ended March 31, 2021, from RM3.74 million or 0.57 sen per share a year ago. The group attributed this to the RM12.46 million fair value loss on biological assets recognised, compared with a gain of RM4.24 million previously.

KPower Bhd has proposed a private placement of RM100 million as the group seeks funding for its recently secured solar power and mini hydro power projects. The group said the shares will be placed to third party investors at an issue price that will be fixed at a later date.

Techfast Holdings Bhd has decided not to proceed with its previously announced share split exercise. It did not give a reason for the decision. The share split would have involved the subdivision of every one existing share in Techfast into two shares.

UMW Holdings Bhd's net profit surged by 119% to RM97.27 million in 1QFY21 ended March 31, 2021 from RM44.32 million a year ago, due to higher number of vehicles sold following the relaxation of the MCO. The conglomerate said its quarterly revenue rose by 39.4% to RM2.95 billion from RM2.12 billion, underpinned by higher sales in its Automotive and Equipment segment.