Press Metal, Dagang NeXchange, KESM, CLIQ and Ekovest

KUALA LUMPUR (Sept 20): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Sept 21) could include: Press Metal, Dagang NeXchange, KESM, CLIQ and Ekovest.

Press Metal Bhd is teaming up with China-based Sunstone Development Co Ltd to jointly invest in a joint venture company (JVCo) to be incorporated in China.

The JVCo shall be known as Shandong Sunstone & PMB Carbon Ltd, and Press Metal will hold a 20% stake with the remainder to be controlled by Sunstone Development.

Press Metal said the JVCo shall principally engage in the manufacturing of pre-baked carbon anodes, which will be supplied to Press Metal's units, Press Metal Sarawak Sdn Bhd and Press Metal Bintulu Sdn Bhd, its bourse filing revealed.

Dagang NeXchange Bhd (DNeX), the service provider for the Royal Malaysian Customs Department's National Single Window for trade facilitation, has secured from the Malaysian government a two-year extension to its contract for managing the service.

The two-year extension, which starts from Sept 25 this year and ends on Sept 24, 2018, was secured via its wholly-owned subsidiary Dagang Net Technologies Sdn Bhd.

Under the contract extension, the service charge to be imposed by DNeX will remain unchanged at 75 sen per kilobyte for government agencies, 80 sen per kilobyte for the private sector, and RM5 per approved permit and certificate of origin application, DNeX said in a statement.

KESM Industries Bhd's fourth quarter net profit fell 23% to RM8.05 million or 18.7 sen per share, from RM10.45 million or 24.3 sen per share a year earlier, due to higher staff costs and other expenses.

Revenue for the quarter ended July 31, 2016 (4QFY16) rose 8.1% to RM74.53 million from RM68.94 million, driven by higher demand for burn-in and test services.

The electronic component testing specialist group, in a filing to Bursa Malaysia, proposed a three sen dividend amounting to RM1.29 million.

CLIQ Energy Bhd's major shareholder, Best Oracle Sdn Bhd, has agreed to discontinue its appeal against the High Court's decision to dismiss its application to strike out CLIQ's liquidation application.

"After hearing both parties, the Deputy Registrar ordered the appeal (to) be discontinued with no order as to cost," CLIQ said in a bourse filing.

Separately, the High Court fixed Sept 26 for a decision on the petition to wind up CLIQ, after hearing arguments from lawyers for CLIQ and Best Oracle.

Best Oracle had in April filed a judicial review to prevent the special purpose acquisition company from being liquidated. It named the Securities Commission Malaysia and CLIQ as respondents.

Trading in construction outfit Ekovest Bhd will be suspended tomorrow.

In a filing with Bursa Malaysia, Ekovest said it has today requested the suspension of its share trade tomorrow, pending a material announcement.