KUALA LUMPUR (May 6): Based on corporate announcements and news flow today, companies that may be in focus on Monday (May 9) could include the following: MISC, NWP Holdings, TSR Capital, LKL International, Luxchem, KLCC Property, KLCC REIT, Icon Offshore, Flonic Hi-Tec, Silk Holdings, mTouche, Ire-Tex, BAT, Top Glove and CLIQ.
A six-fold jump in the profit of its petroleum segment lifted MISC Bhd's net profit for the first quarter ended March 31, 2016 (1QFY16) by 17.4% to RM571 million or 12.8 sen per share.
The shipping giant recorded a net profit of RM486.31 million or 10.9 sen per share in the same corresponding quarter a year earlier.
Revenue for the quarter, however, fell 4% to RM2.39 billion from RM2.49 billion a year ago.
MISC Bhd, a 62.7%-owned subsidiary of Petroliam Nasional Bhd (Petronas), did not declare any dividend for the current quarter under review.
NWP Holdings Bhd's chief executive officer (CEO) Wong See Ming has been redesignated as executive director (ED) of the company with immediate effect.
Wong, 49, was appointed to the board of directors on Jan 29, 2001 as ED and was redesigned as CEO on Aug 18, 2008.
In a filing with Bursa Malaysia, NWP said Wong has more than 15 years' experience in the timber industry, palm oil industry and other investment sectors. He started his working career at the age of 24 in the wood-based industry and was later involved in the plantation sector and palm oil refinery.
TSR Capital Bhd has bagged a RM90 million contract to undertake earthworks and other associated works for the Serdang depot, as part of the Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya Line.
In a filing with Bursa Malaysia, the civil engineering expert said its unit TSR Bina Sdn Bhd has accepted a letter of acceptance from Mass Rapid Transit Corp Sdn Bhd for the Package DPT 203.
The project's construction period is 24 months and shall commence upon the notification of date for site possession by project delivery partner.
Healthcare furniture and equipment manufacturer LKL International Bhd, which is scheduled to list on the ACE market of Bursa Malaysia on May 16, saw the public issue of its shares oversubscribed by 92.84 times.
In a statement today, it was revealed that a total of 12,642 applications for 750.73 million new shares were received from the Malaysian public for the eight million shares available, indicating an oversubscription rate of 92.84 times.
Of this, a total of 6,621 applications for 350.96 million new shares were received for the Bumiputera category, representing an oversubscription rate of 86.74 times, while under the public category, 6,021 applications for 399.77 million new shares were received for an oversubscription rate of 98.94 times.
Luxchem Corp Bhd's net profit for the first quarter ended March 31 (1QFY16) jumped four and a half times to RM7 million or 2.64 sen per share from RM1.55 million or 0.6 sen share a year earlier.
The industrial chemicals supplier attributed the jump to the share option expenses amounting to RM8.48 million charged during 1QFY15.
Revenue was 7.3% lower at RM159.97 million against RM172.54 million in 1QFY15 due to lower revenue from the trading sector.
KLCCP Stapled Group has announced an income distribution per unit (DPU) of 8.6 sen, totalling RM155.26 million for the first financial quarter ended March 31, 2016 (1QFY16). This represents a 3% increase from RM150.71 million or 8.34 sen per unit a year ago (1QFY15).
KLCCP Stapled Group comprises shares of KLCC Property Holdings Bhd stapled together with the units in KLCC Real Estate Investment Trust (KLCC REIT).
For 1QFY16, KLCC Property declared an interim dividend of 2.85 sen per unit, totalling RM51.45 million, while KLCC REIT announced an income distribution of 5.75 sen per unit, totalling RM103.81 million, both payable on June 15.
KLCCP Stapled Group's net profit for 1QFY16 gained 2.3% to RM182.75 million from RM178.51 million a year ago, while revenue grew 2.4% to RM334.75 million from RM326.89 million in 1QFY15. Earnings per share for 1QFY16 climbed to 8.6 sen from 8.34 sen.
Icon Offshore Group Sdn Bhd (IOGSB), a subsidiary of Icon Offshore Bhd, has bagged a vessel order worth RM42 million from ExxonMobil Exploration and Production Malaysia Inc, marking its first contract win in 2016.
In a statement today, Icon Offshore said the contracts are for the provision of two straight supply vessels valued at about RM42 million.
The contracts commenced in May 2016 and are for a period of two years with an extension option of one year.
The group said these vessels will support the offshore production platforms as well as other requirements.
Flonic Hi-Tec Bhd bagged a project management and subcontract works for an affordable housing project in Malacca from B.S. Civil Engineering Sdn Bhd worth RM30.86 million.
The company announced to Bursa Malaysia this evening that its subsidiary Jiwa Project Sdn Bhd had today accepted an award of contract from B.S. Civil Engineering.
Under the contract, Flonic Hi-Tec is tasked to undertake the project management and subcontract works for a proposed affordable housing development project at Taman Sutera Wangi, Melaka (Fasa 3).
Silk Holdings Bhd's wholly-owned Jasa Merin (Labuan) Plc has received RM55.27 million Islamic financing from Affin Islamic Bank to finance 70% of its acquisition of three units of oil/chemical tankers.
Silk Holdings told Bursa Malaysia that Murabahah term financing-I 1, 2 and 3, Wa'ad Mulzim/Bay Al Sarf Islamic Forex Risk-I has an eight-year tenure including one-year grace from the first drawdown.
Silk Holdings is buying the tankers from BHIC Marine Carriers Sdn Bhd, BHIC Marine Ventures Sdn Bhd and BHIC Marine Transport Sdn Bhd.
mTouche Technology Bhd is expected to recover RM6.3 million "lost" due to a financial irregularity in 2009 following a favourable judgment from the Kuala Lumpur High Court over its civil suit against Pearl Legend International Ltd (PLIL) and two individuals.
The company announced to Bursa Malaysia today that the decision involves the termination of an agreement dated Jan 2, 2009 between mTouche's wholly-owned unit Mobile Touchetek Sdn Bhd (MTSB) and PLIL, and the restitution of RM6.3 million.
mTouche said it will recover RM1.7 million in 10 monthly instalments from Goh Eugene and Tan Wee Meng from May 28, 2016 to Feb 28, 2017.
Ire-Tex Corp Bhd has been publicly reprimanded by Bursa Malaysia Securities Bhd for contravening the Main Market Listing Requirements in relation to its fourth quarterly report for the financial year ended Dec 31, 2014 (4QFY14).
In a statement today, Bursa Malaysia said Ire-Tex failed to ensure that its 4QFY14 report took into account the adjustments as stated in the announcement dated May 8, 2015. As such, the company contravened the paragraph 9.16(1)(a) of the Bursa Malaysia Securities Main Market Listing Requirements.
The ruling states announcement made by listed companies must be factual, clear, unambiguous, accurate and succinct and contain sufficient information to enable investors to make informed investment decisions.
British American Tobacco (Malaysia) Bhd (BAT Malaysia) is in the midst of looking for a new managing director (MD) to replace Stefano Clini, who stepped down from his post on May 3.
In a filing to Bursa Malaysia, the tobacco manufacturer said Stefano's international assignment to BAT Malaysia has concluded and he will be returning to his home country.
"The formalities to appoint the new MD are underway and will be announced once these are completed," the country's largest tobacco company said.
The Employees Provident Fund (EPF) has re-emerged as Top Glove Corporation Bhd's substantial shareholder with a stakeholdings of 5.26%.
According to several filings on Bursa Malaysia, EPF was accumulating shares in the world's largest rubber glove maker since end of last month. EPF had ceased to be a substantial shareholder in Top Glove in March last year.
The filings revealed that EPF has picked up four million Top Glove shares from April 28 to May 3.
The High Court of Malaya had today rejected the judicial review application by CLIQ Energy Bhd's management team led by managing director and chief executive officer Ahmad Ziyad Elias to prevent the company from being liquidated.
CLIQ's management team via Best Oracle Sdn Bhd had last month filed the judicial review application. Best Oracle owns 20% of oil and gas entity CLIQ.
The judicial review application followed the Securities Commission Malaysia's decision last February to reject CLIQ's request for more time to pursue its qualifying acquisition.
Companies in the news - MISC, NWP Holdings, TSR Capital, LKL Int’l, Luxchem, KLCC Property, KLCC REIT, Icon Offshore, Flonic Hi-Tec, Silk Holdings, mTouche, Ire-Tex, BAT, Top Glove and CLIQ