Pharmaceutical group Apex Healthcare Bhd is constructing a new oral solid dosage manufacturing facility (SPP NOVO) in Cheng Industrial Estate, Melaka for RM68 million.
It told Bursa Malaysia that the construction will be undertaken by its unit Xepa-Soul Pattinson (Malaysia) Sdn Bhd.
The SPP NOVO will be a newly constructed stand-alone facility adjacent to Xepa's current manufacturing facilities on the same campus at Cheng Industrial Estate.
The construction of SPP NOVO is expected to commence in the fourth quarter of 2016; and barring any unforeseen circumstances, the facility is expected to be commissioned in the first half of 2018.
SPP NOVO, said Apex Healthcare, is Xepa's strategic investment to design, build and operate an advanced manufacturing facility for the production and packaging of tablets and capsules.
Building material manufacturer Chin Hin Group Bhd's indirect wholly-owned unit Sage Evergreen Sdn Bhd (SESB) plans to acquire a RM22 million freehold land in Kota Tinggi, Johor, to cater to the group's production expansion plans.
In bourse filing, Chin Hin said SESB entered into a sale and purchase agreement with TKW Capital Sdn Bhd today for the planned purchase of the 20.37ha land.
Chin Hin said its existing precast concrete and autoclaved aerated concrete (AAC) blocks plant at Serendah, Selangor is running at its maximum capacity.
The group is going to set up a 45,000-tonne pre-cast concrete and a 600,000-m3 AAC block plant on the Johor land. The two plants in Johor are targeted to commence operations in the last quarter of 2017.
The proposed acquisition is expected to be completed by fourth quarter of 2016.
Penang-based Magni-Tech Industries Bhd's net profit for the first quarter ended July 31, 2016 (1QFY17) rose 51.1% to RM23.5 million or 14.46 sen per share from RM15.6 million or 9.57 sen per share last year.
On a segmental basis, it said, garment profit before tax (PBT) improved by 54.2% mainly due to higher revenue and foreign exchange gain, partially weighed down by higher operating costs, while packaging PBT increased by 14.4% as a result of higher revenue and lower operating expenses.
Revenue for 1QFY17 climbed 40% to RM271.4 million from RM193.8 million a year ago, said Magni-Tech in a bourse filing.
Magni-Tech declared a single tier interim dividend of five sen amounting to RM8.13 million for the financial year ending April 30, 2017 which represents a 34.6% payout ratio. The entitlement date is Oct 13, 2016, and payment will be made on Oct 28, 2016.
The group manufactures garments for export, and a wide range of flexible plastic, corrugated and offset printing packaging products.
Genting Plantations Bhd, which is raising its plantation hectarage in Indonesia, has completed the acquisition of Cahaya Agro Abadi Pte Ltd (CAA) and Palm Capital Investment Pte Ltd (PCI) for a combined US$48.04 million (RM198.66 million).
Recall that Genting Plantations had in June announced it was acquiring the two loss-making firms, CAA and PCI, from Green Palm Capital Corp for a combined US$42.15 million.
Today, it said the purchase consideration now stood at US$48.04 million, after it conducted due diligence exercise to verify the value of the planted and unplanted areas of the two companies, all located in West Kalimantan.
The lands are located within close proximity to its other landbank in West Kalimantan, and present potential synergies and economies of scale, the group had reportedly said.
"The purchase consideration shall be satisfied via a cash outlay of US$26.17 million and assumption by Palmindo of outstanding liabilities, on completion date of US$21.87 million," it said.
According to its bourse filing, CAA has a "izin lokasi" totalling 8,095 hectares (ha) with planted areas of 3,384 ha (inti) and 869 ha (plasma), while PCI's "izin lokasi" stood at 13,900 ha, with zero planted area.
The acquisition will boost Genting Plantations' landbank by 26,248 ha. This compares with an earlier announcement of total land size of 21,995 ha.
Following the acquisition, the group should have 264,624 ha versus 238,376 ha presently.
Mechanical and electrical engineering firm Bintai Kinden Corp Bhd's sub-subsidiary accepted a letter of intent from Riverview Company Ltd to undertake a RM32.56 million subcontract involving mechanical, electrical, plumbing and fire-fighting works in Vietnam.
In a filing with Bursa Malaysia, Bintai Kinden said Bintai Kindenko (Vietnam) Co Ltd would carry out the contract for a residential project called Project Shining which is expected to be completed in Oct 2017.
Retail mall operator Aeon Co (M) Bhd expects the second half of this year and 2017 to remain challenging, but it remains confident of charting business growth for the group.
Speaking to reporters at a briefing today, Aeon executive director Poh Ying Loo said although consumer sentiment remains weak, the impact of the goods and services tax (GST) — implemented in April 2015 — has lessened, compared with a year ago.
"The second half and next year will still be challenging. However, we see some encouraging signs, post-GST. There will definitely be growth [for the company]," he said.
Poh said Aeon has no plans to retrench staff or close any of its malls, despite the challenging times ahead.
Instead, Aeon will be opening another shopping mall in Johor Baru next year, in addition to the three it has opened this year.
In addition, Aeon will be opening its first Aeon Mall in East Malaysia in 2017.
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