KUALA LUMPUR (Oct 19): Based on corporate announcements and newsflow today, companies in focus tomorrow (Oct 20) could include Digi.com Bhd, Maxis Bhd, WZ Satu Bhd, Ajinomoto (M) Bhd, Priceworth International Bhd and Emico Holdings Bhd.
Digi.com Bhd's third quarter net profit rose 11% from a year earlier in the absence of foreign exchange (forex) and derivative losses and as cost of goods sold declined.
The mobile-telecommunication network provider said net profit rose to RM438.38 million in the third quarter ended September 30, 2016 (3QFY2016) from RM396.62 million. Revenue fell to RM1.62 billion from RM1.67 billion.
9MFY2016 net profit fell to RM1.26 billion from RM1.34 billion a year earlier. Revenue was lower at RM4.93 billion compared with RM5.19 billion.
Looking ahead, Digi said the postpaid segment would be the company's "growth engine", hence product and service development would be crucial for the company.
Maxis Bhd’s net profit for the third quarter ended Sept 30, 2016 rose to RM514 million from RM421 million a year earlier, as plans launched in the previous quarter continued to gain momentum.
The company said its revenue for the quarter was flat at RM2.16 billion.
Maxis declared a third interim single-tier tax-exempt dividend of five sen per share, to be paid on Dec 29.
WZ Satu Bhd has aborted its planned collaboration with Konsortium PKMM Bina Sdn Bhd for the development and upgrading of the proposed Pan Borneo Highway in Sarawak.
The construction outfit said the letter of collaboration (LOC) inked between the two parties has expired, as there is no definitive or binding agreement entered into thus far.
WZ Satu inked the LOC with Konsortium PKMM Bina on Oct 19 last year, to collaborate on the pre-qualification of the development and upgrading of the proposed Pan Borneo Highway in Sarawak.
Under the LOC, both parties would jointly contribute resources and expertise to submit prequalification and tenders to the federal government, through Lebuhraya Borneo Utara Sdn Bhd which would be the project delivery partner in relation to the project.
Ajinomoto (M) Bhd has accepted the offer from Japan’s Taisei Lamic Co Ltd to sell its entire stake of 5% in Malaysia Packaging Industry Bhd (Maypak) at RM1.37 million or 65 sen per share.
Ajinomoto said in a bourse filing it accepted the unconditional mandatory take-over offer from Taisei to dispose of its entire shareholding of the 2.1 million shares it held in Maypak.
“Subsequent to the above, the company shall cease to be a shareholder of Maypak,” it added.
Priceworth International Bhd (PWI) is acquiring Rumpun Capaian Sdn Bhd for RM260 million, to be funded by a proposed private placement and special issue.
Rumpun owns 99.99% of Anika Desiran Sdn Bhd (ADSB), which was awarded a 100-year concession in 1997 to carry out harvesting, forest management and rehabilitation, and industrial tree planting within a forest reserve area in Trus Madi, Sabah, known as Forest Management Unit 5 (FMU5).
PWI said the acquisition presents an opportunity for the group to boost its earnings significantly, by virtue of access to significant concession for the 101,161ha forest reserve.
Emico Holdings Bhd is proposing a capital reduction by cancelling 90 sen out of the par value of every existing ordinary share of RM1 each to pare down its accumulated losses.
Emico said the proposed exercise is expected to give rise to a credit of approximately RM86.33 million, which will be utilised to set off its accumulated losses.
As at March 31, 2016, it had accumulated losses of RM81.28 million at company level and RM74.54 million at group level.
"The remaining credit after setting off the accumulated losses will be credited to the retained earnings of the company," it added.
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