Serba Dinamik, PetChem, PetDag, Country Heights, Yinson, YTL Power, Panasonic, Notion VTec, Westports, Paragon Union, Pharmaniaga, Tompyak, Hong Seng, China Automobile, Haily Group, Oriental Interest, HeiTech Padu and Kretam

TheEdge Mon, Dec 20, 2021 10:57pm - 2 years View Original


KUALA LUMPUR (Dec 20): Based on corporate announcements and news flow on Monday (Dec 20), companies in focus on Tuesday (Dec 21) may include: Serba Dinamik Holdings Bhd, Petronas Chemicals Group Bhd, Petronas Dagangan Bhd, Country Heights Holdings Bhd, Yinson Holdings Bhd, YTL Power International Bhd, Panasonic Manufacturing Malaysia Bhd, Notion VTec Bhd, Westports Holdings Bhd, Paragon Union Bhd, Pharmaniaga Bhd, Tomypak Holdings Bhd, Hong Seng Consolidated Bhd, China Automobile Parts Holdings Ltd, Haily Group Bhd, Oriental Interest Bhd, HeiTech Padu Bhd and Kretam Holdings Bhd.

Less than one month into the role, Serba Dinamik Holdings Bhd’s chairman Datuk Seri Mohamed Farid Abu Hassan has stepped down, citing “biased regulatory prosecution aimed towards Serba Dinamik” as the reason behind his resignation. Following Farid’s resignation, the oil and gas service provider announced the redesignation of non-independent non-executive director Datuk Abdul Kadier Sahib as its new chairman effective Monday (Dec 20). Serba Dinamik also announced the resignation of its independent and non-executive director Siti Zaleha Sulaiman due to biased regulatory prosecution aimed towards Serba Dinamik.

Datuk Md Arif Mahmood resigned as non-independent non-executive chairman of Petronas Chemicals Group Bhd (PetChem) on Dec 18, as well as Petronas Dagangan Bhd (PetDag) on Dec 20. Petchem announced that its non-independent non-executive director Datuk Dr Abdul Rahim Hashim will be redesignated as its new chairman. PetChem also redesignated Datuk Sazali Hamzah, currently PetChem's MD, as its non-independent and non-executive director, while Mohd Yusri Mohamed Yusof joins PetChem’s board as its newest member and new managing director. Meanwhile, Datuk Anuar Ahmad, currently the non-independent non-executive director PetDag will be redesignated as the group’s chairman.

Country Heights Holdings Bhd has announced changes to the asset injection exercise from executive chairman and controlling shareholder Tan Sri Lee Kim Yew's private investment holdings that was first announced in October. Notably, Country Heights has downsized the asset acquisition to a total of RM517 million, from RM544 million previously.

Yinson Holdings Bhd has bagged a contract worth US$505 million (about RM2.14 billion) from Enauta Energia SA for the provision, operation and maintenance of a floating, production, storage and offloading (FPSO) asset in the Atlanta Field located in the Santos Basin, offshore Brazil. Yinson said its indirect wholly-owned subsidiary Yinson Acacia Ltd had been awarded a letter of intent (LOI) by Enauta for the FPSO contract. The company also proposed a bonus issue of shares of up to 1.11 billion shares on a one-for-one basis. It also proposed a renounceable rights issue together with free detachable warrants to raise gross proceeds of up to RM1.22 billion.

YTL Power International Bhd has completed the acquisition of Dodid Pte Ltd, the owner of a 12.5 megawatt (MW) tier-three data centre in Singapore. This marks the group's first foray into the data centre industry outside Malaysia, and its first step towards establishing a regional data centre platform in Southeast Asia, the group said in a statement on Monday. Built and commissioned in 2018, Dodid is a green, state-of-the-art facility that serves the largest hyperscale customers in Asia. The acquisition was done through YTL Power's digital infrastructure subsidiary, YTL Data Center Holdings Pte Ltd (YTL DC).

Panasonic Manufacturing Malaysia Bhd announced that its plant in Seksyen 23, Shah Alam (SA2) was affected by the flood over the weekend. The group said the production of fan and vacuum cleaners is disrupted for the time being and the company will need a week to assess the conditions of the machines and equipment that were affected by the flood waters. The company is unable to immediately assess the exact impact of this recent event to the financial results for the third quarter ending Dec 31, 2021 (3QFY21).  

Notion VTec Bhd's factory in Klang has been affected by the flood due to the continuous heavy rain on Dec 18 and 19, 2021. Notion said the factory is for the production of gloves and computer numerical control machining under the automotive segment. The company said it is unable to ascertain the full financial and operational impacts at this juncture due to current inaccessibility to the factory.

Westports Holdings Bhd said while Port Klang and some parts of the Klang Valley were affected by flooding after continuous heavy rainfall, the container and conventional facilities were not impacted. It said some of its staff were unable to report to work due to travel difficulties. It said these combined factors have adversely affected productivity and added some berthing delays. The cumulative effects could contribute to a throughput shortfall that hinders the company from achieving the guided single-digit growth for 2021, it said.

Carpet maker Paragon Union Bhd announced that two of its main factories in Balakong, Cheras have been badly affected by the flood caused by continuous heavy rain over the weekend. The group said the estimated downtime of the factories will be approximately two weeks and thus, production and delivery to customers will be delayed accordingly.

Pharmaniaga Bhd has assured that all its warehouses and logistics operations are safe and unaffected, and will continue to operate as usual despite the severe impact of the flood that occurred in the Klang Valley over the weekend. The pharmaceutical firm said an emergency plan has been activated and although some roads might not be accessible due to the flood, alternative routes have been identified to ensure all orders for pharmaceutical products by clinics and hospitals will be delivered accordingly.

Following a fire outbreak at its Senai manufacturing plant on Sunday (Dec 19), flexible packaging manufacturer Tomypak Holdings Bhd has given assurance that it has adequate insurance coverage to cover for the damages. Tomypak said its wholly-owned Tomypak Flexible Packaging Sdn Bhd (TFPSB) has adequate insurance coverage of up to RM271 million for property damage and stock in trade, and RM80 million for business interruption for up to two years. The fire, which started at the factory's warehouse at about 12.30pm on Sunday, eventually spread to the entire manufacturing plant. The outbreak was only contained at about 7am on Monday.

Hong Seng Consolidated Bhd has been appointed by the state of Johor to provide medical screening of Covid-19 tests for on-arrival testing for Vaccinated Travel Lane (VTL) at all domestic international gateways. Hong Seng said its unit HS Bio Sdn Bhd’s 60%-owned subsidiary Neogenix Sdn Bhd had received a letter of appointment (LOA) from the office of Johor Menteri Besar to provide the screening tests.

The external auditor of China Automobile Parts Holdings Ltd (CAP), CAS Malaysia PLT has expressed a disclaimer of opinion in the group’s financial statements for the financial year ended June 30, 2018 (FY18). CAS Malaysia PLT said it could not obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on FY18 financial statements. CAP said it has submitted an appeal on Monday, against Bursa Securities’ decision to de-list the group and remove its securities from the official list on Dec 27.

Haily Group Bhd has secured an RM40.67 million contract to build three-storey shop offices in Johor Bahru, Johor. Haily said the project, located in Bandar Jaya Putra, Mukim Tebrau, was secured by its wholly-owned Haily Construction Sdn Bhd, which has accepted a letter of award (LoA) from RDC Arkitek Sdn Bhd on behalf of Austin Senibong Development Sdn Bhd to build 99 units of such shop offices, together with several power substations.

Oriental Interest Bhd’s (OIB) 70%-owned subsidiary Myra Land Sdn Bhd has proposed to buy a 2.05-hectare piece of leasehold land in Pekan Baru Subang, Selangor, from Teguh Majuria Sdn Bhd for RM36.35 million cash. The Kedah-headquartered company said the proposed acquisition was in line with the group’s strategic planning to leverage on its strengths in property development and construction to develop the property complementary to the existing development in the Klang Valley.

HeiTech Padu Bhd has bagged an RM21.7 million contract from Permodalan Nasional Bhd (PNB). The group signed the Letter of Acceptance last Friday (Dec 17) for the supply, delivery, installation, testing, commissioning, operations and management of network infrastructure for PNB's new office at Merdeka 118.

Kretam Holdings Bhd (KHB) has secured RM21 million of banking facilities from Alliance Bank Malaysia Bhd. Its wholly-owned subsidiary Syarikat Kretam Plantations Sdn Bhd, which cultivates oil palms, has accepted the facilities to finance the purchase of two pieces of agricultural land planted with oil palms in Sabah from NPC Resources Bhd.

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