Sedania Innovator, IOI Properties, Solarvest, Rhone Ma, CIMB, TAFI Industries, Opcom, Vizione, SCIB, Heitech Padu, Glomac, Scomi, Favelle Favco, Berjaya Land

TheEdge Wed, Sep 22, 2021 11:15pm - 1 year View Original

KUALA LUMPUR (Sept 22): Based on corporate announcements and news flow today, companies in focus on Thursday (Sept 23) may include Sedania Innovator Bhd, IOI Properties Group Bhd, Solarvest Holdings Bhd, Rhone Ma Holdings Bhd, CIMB Group Holdings Bhd, TAFI Industries Bhd, Opcom Holdings Bhd, Vizione Holdings Bhd, Sarawak Consolidated Industries Bhd, Heitech Padu Bhd, Glomac Bhd, Scomi Group Bhd, Favelle Favco Bhd and Berjaya Land Bhd.

Sedania Innovator Bhd said its 51%-owned health tech subsidiary Offspring Inc Sdn Bhd is expanding into the Middle East, starting with Bahrain. Offspring focuses on early childcare solutions, offering, among others, products such as baby diapers, wet wipes, skincare and home care products that are made of naturally derived, organic, sustainable and biodegradable materials.

IOI Properties Group Bhd's wholly-owned subsidiary Boulevard View Pte Ltd has submitted a S$1.508 billion (RM4.68 billion) bid to buy an estimated 0.78ha (7,817.6 square metres) leasehold land known as the White site in Singapore's Marina View enclave under the country's Urban Redevelopment Authority's invitation to tender, which saw Boulevard View become the sole bidder.

Solarvest Holdings Bhd is planning further diversification in the solar energy business as the clean energy specialist seeks to grow in the midst of prolonged uncertainty. Its group chief executive officer Davis Chong said this includes moving more aggressively into solar energy investments that Solarvest is working on as well as leveraging Powervest, its all-new solar financing programme, which will strengthen its position in the solar energy market.

Rhone Ma Holdings Bhd, via its subsidiary A2 Fresh Sdn Bhd, has entered into a joint venture agreement with Kulim (Malaysia) Bhd to develop, operate and manage a potential dairy project. The animal health solutions provider said the initial investment required for the project will be up to RM41.39 million, which will be funded through equity in the form of subscription of shares by the shareholders in proportion to their shareholding ratio in the special purpose vehicle company.

CIMB Group Holdings Bhd has committed to a series of strengthened sustainability commitments, including the mobilisation of RM30 billion towards sustainable finance, as part of its continued ambition to be an ASEAN sustainability leader by 2024. CIMB said it has set a higher sustainability finance target guided by the group's Green, Social, Sustainable Impact Products and Services framework.

TAFI Industries Bhd, the furniture maker which has diversified into property development, has entered into five joint-venture agreements to develop mixed housing projects in Pahang with an estimated total gross development value of RM621.5 million. For all five projects, TAFI's wholly-owned subsidiary Gerak Mahir Sdn Bhd will be bearing the cost of the development, while the joint venture partners will be providing the project land.

Opcom Holdings Bhd hit limit up today after the fibre optic cable manufacturer's share price jumped past RM1 to its highest level in over six years since April 2015 possibly after news today that the implementation of the National Digital Network (JENDELA) plan in Perak will involve the construction of 171 new telecommunication towers and upgrading of 1,754 communication transmitters. Perak Youth, Sports, Communications and Multimedia Committee chairman Khairul Shahril Mohamed said the JENDELA plan will also involve providing fixed-line fibre optic access to 252,475 premises in the state.

Vizione Holdings Bhd has entered into an agreement to develop 2,500 affordable apartment units with related infrastructure in Putrajaya. The agreement for the RM500 million gross development value project was inked between Vizione's wholly-owned unit Vizione Builder Sdn Bhd and Pan Sejati Development (M) Sdn Bhd.

Sarawak Consolidated Industries Bhd (SCIB) announced that its wholly-owned subsidiary SCIB Properties Sdn Bhd has been awarded a RM137 million contract to build housing for civil servants. SCIB said the developer of the project in Muallim, Perak — Awana JV Suria Saga Sdn Bhd — has nullified Puncak Gemilang Melati Sdn Bhd as the main contractor and appointed SCIB Properties to take over as the main contractor.

Heitech Padu Bhd has bagged a RM36.25 million contract to provide maintenance and technical support for ICT infrastructure and mySIKAP system at all Road Transport Department offices. The group previously announced a two-year contract for the mySIKAP system (Driver and Vehicle Information System) in November 2016, amounting to RM79.77 million and effective until December 2018.

Glomac Bhd's earnings for the first quarter ended July 31, 2021 more than halved as the property developer was impacted by the very difficult operating environment arising from the implementation of Movement Control Order 3.0. Net profit fell 60.66% to RM1.73 million from RM4.39 million a year ago, while revenue slipped 38.47% to RM28.84 million from RM46.87 million.

Scomi Group Bhd said its wholly-owned Scomi Capital Sdn Bhd has entered into a memorandum of understanding with ODESI eCOB Sdn Bhd to explore opportunities to develop an urban solar programme to sell and purchase electricity generated from solar photovoltaic systems. It said the sale and purchase of electricity will be done under a power purchase agreement or supply agreement with renewable energy on a zero-capital expenditure model, meaning that the cost of generation will be borne by the seller of electricity with no cost to the purchaser.

Higher sales lifted crane operator Favelle Favco Bhd's second quarter net profit by 78.97% to RM13.55 million from RM7.57 million a year earlier. Revenue increased 57.15% to RM153.11 million from RM97.43 million in the same quarter last year. On a quarter-on-quarter basis, net profit rose 14.52% from RM11.83 million in the immediate preceding quarter due to an increase in sales, as revenue grew 25.39% from RM122.11 million.

Berjaya Land Bhd's net loss in the fourth quarter ended June 30, 2021 widened to RM126.34 million from a net loss of RM108.54 million as the lockdown restrictions impacted its business operation. This was despite revenue surging by 128.14% to RM1.24 billion, from RM541.58 million, underpinned by higher revenues from its gaming operations, motor vehicle dealerships, and higher occupancy rates in its hotels and resorts in Malaysia.

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