Kumpulan Perangsang Selangor Bhd (KPS) plans to take Century Bond Bhd private for RM209 million or RM1.75 per share.
In a filing with Bursa Malaysia today, KPS said its unit, Perangsang Packaging Sdn Bhd, is acquiring 85.73 million shares or a 71.44% stake in Century Bond, for RM150.03 million.
Perangsang Packaging is acquiring the shares from Century Bond's major shareholder, CB Equities Sdn Bhd, and its affiliate. The share sale, however, is conditional upon KPS obtaining approval of its shareholders at its forthcoming general meeting.
Upon completion, KPS will launch a mandatory general offer (MGO) on the major player in the industrial packaging and contract manufacturing sector in Southeast Asia.
Iris Corp Bhd has clinched a US$42.49 million (RM170.37 million) contract to supply 2.5 million units of 32-page electronic passports (e-passports) to Nigeria, over three years.
In a filing with Bursa Malaysia today, Iris said it inked a supply agreement yesterday with IRIS Smart Technologies Ltd (ISTL), a limited company registered in Abuja, Nigeria, for the supply of the e-passports.
Iris said the supply agreement will commence “from the date of the agreement”.
Under the agreement, the company shall from time to time, supply and deliver quantities of the e-passport in accordance with the letters of credit (LOC) issued by ISTL.
Media Prima Bhd’s net profit for the second quarter of its financial year ending Dec 31, 2016 (2QFY16) fell by 36.47% year-on-year (y-o-y) to RM27.92 million; while its revenue slipped 4.45% to RM349.55 million, from RM365.82 million previously.
The media group — which owns television and radio stations, newspapers, outdoor advertising, and online portals — also saw higher depreciation and amortisation charges in the quarter, which resulted in a 3.6% higher operating cost, according to its bourse filing today.
As such, its operating profit contracted by approximately 46% to RM33.26 million, from RM61.52 million a year ago. This was, however, offset by an almost two-third decline in taxation charges, from RM15.04 million to RM5.49 million.
The media group also declared a first interim dividend of 2 sen a share — down from three sen in the previous year — which will be paid on Sept 30.
Meanwhile, its bottom line for the first half of FY16 (1HFY16) was 28.11% lower y-o-y at RM45.16 million; revenue drop was a softer 5.98% to RM653.61 million.
Perak Corp Bhd's unit, Animation Theme Park Sdn Bhd (ATP), has injected an additional RM22 million cash into its Movie Animation Park Studios (MAPS) to enhanced the animation theme park in Perak.
The proposal, according to the property developer, is to ensure MAPS becomes a favourite tourist destination in Malaysia and the surrounding countries within Southeast Asia.
"The development of the MAPS by ATP is in line with the intention of the board of Perak Corp to create a new earnings stream over the long-term," it told stock exchange in a filing with Bursa Malaysia today.
This is to complement its property development activities, to provide it with a steady stream of income in future.
Perak Corp said ATP has entered into a supplementary agreement with The Sanderson Design Group (Malaysia) Sdn Bhd (SDGM), to implement a set of enhancement projects to the attractions in the MAPS.
Scomi Group Bhd has plunged into the red, mainly due to slump in oil prices which affected its drilling business.
The group reported a net loss of RM12.21 million or 0.65 sen per share for the first quarter ended June 30, 2016 (1QFY17), as against a net profit of RM9.73 million or 0.63 sen per share a year earlier.
Revenue declined 37% to RM237.56 million, from RM379.89 million, Scomi said in a bourse filing.
The group saw weaker performance across its oilfield services, transportation solutions, marine services and other segments.
Gas Malaysia Bhd's net profit rose 15.7% to RM38.97 million in the second quarter ended June 30, 2016 (2QFY16), from RM33.68 million a year ago, on higher volume of gas sold.
In a filing with Bursa Malaysia, revenue increased 22.5% to RM973.57 million in 2QFY16, from RM795.01 million in 2QFY15, mainly due to the upward revisions of natural gas tariff that came into effect on Jan 1, 2016 and higher volume of gas sold.
It also declared a 4 sen dividend per share for the period — compared with 3.5 sen in the same period last year — which amounts to a RM51.36 milllion payout, payable on Sept 21.
For the first half of financial year 2016 (1HFY16), profit increased 13.2% to RM70.35 million, from RM62.17 million in 1HFY15, on the back of a 24.3% rise in revenue to RM1.93 billion, from RM1.56 billion, which was primarily driven by higher volume of gas sold, increase in number of customers, and revisions in gas tariff.
Bioalpha Holdings Bhd’s Constant Pharmacy has opened its maiden franchised outlet in the suburban part of Kelantan, the first outside of Klang Valley, to tap into underserved areas and where price competition is less stiff than in the country’s capital.
In a statement today, Bioalpha managing director and chief executive officer William Hon Tian Kok said Constant Pharmacy’s outlet in Tanah Merah is an addition to only eight pharmacies available in the district.
With our outlet being the ninth in the area, the pharmacy to population ratio is still very low at 1:13,333. By comparison, the pharmacy to population ratio in Kuala Lumpur is about 1:3,000. As such, we believe there are a lot of growth opportunities that we can tap into in Tanah Merah,” he added.
Within the next 12 months, Hon said Bioalpha wants to grow the number of Constant Pharmacy outlet count to more than 30, from 14 currently.
Wah Seong Corp Bhd said it will execute a contract with an international consortium by Sept 30, for its pipe coating contract for the Nord Stream 2 gas pipeline project in Europe.
Wah Seong said its pipe coating business unit, Wasco Coatings Europe B.V., signed a letter of intent (LOI) with the Nord Stream 2 AG consortium yesterday to commence mobilisation of works for Nord Stream 2 project, pending finalisation of a formal contract to be signed by both parties.
The consortium had awarded a tender to Wasco Coatings Europe B.V. — the indirect wholly-owned subsidiary of Wah Seong incorporated in the Netherlnads for the provision of concrete weight coating and storing of more than 200,000 pipes for the pipeline project.
The pipeline is planned to pass through the Baltic Sea, transporting natural gas over 1,200km from the world’s largest gas reserves in Russia, via the most efficient route to consumers in Europe.