Serba Dinamik, Gamuda, Malakoff, CTOS, Tan Chong Motor, KNM and PCCS

TheEdge Tue, Dec 21, 2021 11:32pm - 7 months View Original

KUALA LUMPUR (Dec 21): Based on corporate announcements and news flow on Tuesday (Dec 21), companies in focus on Wednesday may include Serba Dinamik Holdings Bhd, Gamuda Bhd, Malakoff Corp Bhd, CTOS Digital Bhd, Tan Chong Motor Holdings Bhd, KNM Group Bhd and PCCS Group Bhd.

Serba Dinamik Holdings Bhd has sought to expunge a document by Ernst & Young Consulting Sdn Bhd called “Factual Findings Update”, that had been included in Bursa Malaysia Securities Bhd's affidavit in support of its lawsuit to compel the company to make public the independent review done. In Serba Dinamik's application, its managing director and CEO Datuk Dr Mohd Abdul Karim Abdullah also affirmed an affidavit in support claiming the Factual Finding Update is “documentary hearsay evidence”.

Gamuda Bhd’s net profit for the first quarter ended Oct 31, 2021 fell 28.83% quarter-on-quarter to RM152.37 million from RM214.08 million amid lower overseas property earnings, citing that "Vietnam was in lockdown".  Revenue decreased 15.74% to RM747.11 million from RM886.67 million. Gamuda declared an interim dividend of six sen per share. For the full year, the group’s net profit climbed 38.15% from RM110.3 million despite revenue declining slightly by 2.2% from RM763.95 million.

Malakoff Corp Bhd has appointed former UEM Group chairman Tan Sri Dr Ahmad Tajuddin Ali, 73, as its new chairman, effective Jan 1. He replaces Datuk Hasni Harun, who is resigning after over four years since his appointment in June 2017, due to personal commitments.

CTOS Digital Bhd has obtained an extension for the fee waiver for Central Credit Reference Information System (CCRIS) report extractions from Bank Negara Malaysia (BNM). The credit reporting agency said the waiver granted to its subsidiary CTOS Data Systems Sdn Bhd will be extended by another year to Dec 31, 2022.

Tan Chong Motor Holdings Bhd has established an Islamic medium term notes programme worth RM1.5 billion under Sukuk Murabahah programme. The group said the proceeds raised from the Sukuk Murabahah programme will be utilised for its capital expenditure, working capital requirements, general corporate purposes as well as refinancing and/or repaying financing facilities including its existing borrowings.

KNM Group Bhd has said it will enter into bilateral discussions with Credit Guarantee and Investment Facility (CGIF) instead of its Thai bondholders to resolve its default in payment of the principal and interest on the bonds. The group said CGIF, a trust fund managed by Asian Development Bank, made payment of the principal of 2.78 billion baht (RM347.39 million), interest of 42.04 million baht (RM5.25 million) and accrued interest from Nov 18 to Dec 17 of 6.63 million baht (RM828,030), on behalf of KNM to Bank of Ayudhya, the Thai bondholders' representative, on Dec 15. CGIF also issued a demand notice for immediate payment from KNM on the same day, said the oil and gas group.

The major shareholders of PCCS Group Bhd are buying out wholly-owned Mega Label (Malaysia) Sdn Bhd and 51%-owned indirect subsidiary Mega Label (Penang) Sdn Bhd, for RM8.5 million. The two units are part of the label and packaging division of PCCS, which is involved in the printing of labels and stickers for garments and other products. The units made losses of RM5.33 million and RM9.71 million for the financial year ended March 31, 2021 (FY21) and FY20 respectively, and continue to require heavy capital expenditure for the next few years.

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Related Stocks

BURSA 6.510
CTOS 1.420
GAMUDA 3.770
KNM 0.120
PCCS 0.545
TCHONG 1.160


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