KUALA LUMPUR (Jan 9): Based on corporate announcements and news flow today, companies that may be in focus on Tuesday (Jan 10) could include: Hovid Bhd, HLT Global Bhd, Sumatec Resources Bhd, SapuraKencana Petroleum Bhd, GFM Services Bhd, Eurospan Holdings Bhd, Jaycorp Bhd, Sime Darby Bhd and Dataprep Holdings Bhd
Hovid Bhd has ceased all manufacturing activities at its Perak facilities after the Health Ministry revoked its manufacturing licences today over a compliance issue.
Last Friday, Hovid announced a recall of its Ternolol 50mg film-coated tablets manufactured under batch number BG04645 bearing manufacturing date April 2016, for the Malaysian market.
The recall was apparently due to a labelling mix-up. The batch for recall contains boxes labelled as "Ternolol 50" but some of the blisters referred to the product as "Ternolol Tab 100mg".
Hovid requested a suspension of its share trade today from 11.23am. Trading will resume tomorrow morning.
The group’s shares were last done at 34.5 sen today, a fall of 25% compared with Jan 11 last year when it was trading at 46 sen.
HLT Global which makes glove-dipping lines, is scheduled to list on Bursa tomorrow.
Public IB Research has valued ACE Market-bound HLT Global Bhd at 50 sen.
In a note today, the research house said HLT Global's listing will be carried out through its wholly-owned subsidiary HL Advance Technologies (M) Sdn Bhd, which commenced its operations in October 2009.
The group is principally involved in the design, fabrication, installation, testing and commissioning of glove-dipping lines, the provision of upgrading and modification works for glove-dipping lines, and the supply and trading of associated parts and components, serving glove manufacturers in Malaysia, China, Thailand, India, Indonesia, Vietnam and Saudi Arabia.
Sumatec Resources Bhd's creditors have terminated three collateralised loans extended to the company, and are demanding that the company pay up RM72.33 million within 14 days from the date the termination and demand notice was issued on Jan 5.
The debt is being called up by Malaysian Trustees Bhd (MTB), trustees to the three lenders — Kerisma Bhd, Capone Bhd and Prima Uno Bhd, according to Sumatec's bourse filing this evening.
The group's solicitors, Shearn Delamore & Co, has advised that the company is not obliged to pay the sum owing under the facilities, given that a provision under the settlement agreement (SA) inked with the creditors in 2013 stated that the appropriate remedy for the bondholders is to instruct MTB to pursue RM17 million from three entities for the breach of the SA, namely Hoe Leong Corp Ltd, Setinggi Holdings Ltd and/or Hoe Leong's nominee.
The solicitors added that the bondholders should pursue Semua International Sdn Bhd for any remaining dividend payment stipulated in the 2013 SA with Semua International Sdn Bhd.
Sumatec’s share price rose half sen or 5.56% to 9.5 sen today, giving it a market capitalisation of RM367.28 million.
SapuraKencana Petroleum Bhd has been awarded contracts with a combined value of about RM1.34 billion (US$300 million) for two of its business segments, namely the construction and drilling business segments.
Under engineering and construction, SapuraKencana Subsea Services Sdn Bhd and SapuraKencana GeoSciences Sdn Bhd have been each awarded a contract by Petronas Carigali Sdn Bhd.
SapuraKencana Subsea's contract is for the provision of underwater services for a two-year period while SapuraKencana GeoSciences' is for the provision of soil investigation services.
SapuraKencana TL Offshore Sdn Bhd has been awarded a contract by Hyundai Heavy Industries for the provision of offshore installation work of BNCPP-B jacket, foundation piles and bridge structure between BNCPP-B and BNG-B.
The drilling division, on the other hand, saw SapuraKencana Drilling Sdn Bhd being awarded a contract by Brunei Shell Petroleum Sdn Bhd for the provision of its Tender Assist Drilling Rig SKD Alliance. It is expected to commence in April 2018 for a period of five years with an option to extend for an additional five years.
GFM Services Bhd rose as much as 10.5 sen or 28% during its Bursa Malaysia ACE Market debut today after assuming the listing status of asiaEP Resources Bhd. GFM is a facility-management specialist.
The shares listed at 38 sen.
Electronic-business specialist asiaEP was previously marked as a Guidance Note 3 (GN3) company. Last Friday, Bursa Malaysia said it would remove asiaEP from the GN3 list today following completion of its regularisation exercise.
GFM, the second most-active stock on Bursa Malaysia, was also the seventh-largest gainer. At 38 sen, GFM has a market value of RM162.68 million based on its issued base of 428.1 million shares.
At market close GFM rose 8.5 sen or 22.37% to settle at 47 sen.
Eurospan Holdings Bhd recorded a net loss of RM895,000 or 2.01 sen loss per share in the second quarter ended Nov 30, 2016 (2QFY17) from a net profit of RM1.1 million or 2.44 sen per share a year ago because of lower revenue and fair value loss on derivatives of RM1.1 million in the financial period.
Revenue fell 6% to RM13.2 million from RM14.1 million a year ago, said the Penang-based furniture maker in a filing with Bursa Malaysia today.
In the half year ended Nov 30, 2016 (1HFY17), Eurospan posted a RM316,000 net loss or 0.71 sen loss per share compared with a net profit of RM731,000 or 1.65 sen per share in 1HFY16, while revenue stood at RM26.3 million, down 11.1% from RM29.6 million in the previous year.
Shares in Eurospan closed flat at 64 sen for a market capitalisation RM28.4 million.
Jaycorp Bhd's 60%-owned unit Jaycorp Engineering & Construction Sdn Bhd (JECSB) has won a contract for the construction of a seven-storey shop-cum-office at Likas Bay in Kota Kinabalu, Sabah, valued at RM16.76 million for a period of 24 months.
Jaycorp also stated that the project, known as Spinnaker SOVO Suite, will not materially impact its issued and paid-up share capital, substantial shareholders' shareholding, earnings per share, net assets per share and gearing of the group for the financial year ending July 31, 2017 (FY17).
Jaycorp rose one sen or 0.72% to close at RM1.40, giving it a market capitalisation of RM190.1 million.
Sime Darby Bhd is expected to benefit from the proposed third port development in Selangor, in Carey Island, according to Maybank IB Research.
In a note to clients today, the research firm said the new port development will hasten the unlocking of the land value of Carey Island over the next 20 to 30 years.
It was reported today that Carey Island is set to be the next massive port industrial city project in the Klang Valley, with infrastructure investments of more than RM200 billion.
This 20-year project will comprise the development of an integrated port and related infrastructure, industrial parks and free trade zones, commercial and residential buildings.
Sime Darby shares closed down 10 sen or 1.17% at RM8.45 today, with a market capitalisation of RM57.67 billion.
Dataprep Holdings Bhd received an unusual market activity (UMA) query from Bursa today as the group's share price has surged some 63% since its closing of 13.5 sen on Dec 30, 2016, less than two weeks ago.
In an evening filing to Bursa's UMA query earlier today, Dataprep said it is not aware of any corporate development, rumour, report or any explanation that could account for the recent unusual trading activity of its shares.
The group’s shares settled at 22 sen today, up 1.5 sen or 7.32%, giving it a market capitalisation of RM92.71 million.