KUALA LUMPUR (March 9): Based on corporate announcements and news flow today, companies in focus tomorrow may include: D&O Green Technologies Bhd, Datasonic Group Bhd, LBS Bina Group Bhd, Vizione Holdings Bhd, KESM Industries Bhd and Icon Offshore Bhd.
D&O Green Technologies Bhd said several parties have approached the company expressing interest in business opportunities as the semiconductor industry undergoes a consolidation process globally, but no deal has been reached.
"The company is always open to opportunities to participate in the industry’s rationalisation, but at this present point in time, there is only preliminary discussions and there is no certainty at this stage of the discussions that will lead to signing of any definitive agreement," the light-emitting diodes components manufacturer said.
"In the event that there is any firm development, the company shall make an immediate announcement to the public," it added.
Datasonic Group Bhd has been awarded a contract by the Ministry of Home Affairs for the supply of more passport polycarbonate data pages and personalisation services worth RM79.72 million for the Immigration Department, the group said in a statement today.
Datasonic said it had been awarded a five-year contract worth RM284.7 million in 2013 for the supply of 10 million polycarbonate passport data pages. The five-year contract started on Feb 1, 2013 and will end on Jan 31, 2018.
With the latest award, the group said total quantity of passport polycarbonate data pages to be supplied along with personalisation services, has now increased to 12.8 million, while the total contract value has gone up to RM364.42 million.
“The contract is expected to contribute positively towards the future earnings and net assets per share of Datasonic Group for financial year ending March 31, 2018, for the duration of the contract, and will not have any effect on the share capital and substantial shareholders’ shareholdings of Datasonic Group,” the statement added.
LBS Bina Group Bhd plans a renounceable rights issue to raise up to RM165.6 million to fund its property development projects and general working capital requirements.
The cash call involves up to 150.6 million redeemable convertible preference shares (RCPS) on the basis of one RCPS for every five share held on the entitlement date.
LBS said that as at Feb 26, its share capital was RM720.3 million, comprising 650.9 million shares.
The property group said for illustration purposes, the indicative issue price of the RCPS is set at RM1.10 apiece, at which price the rights issue is expected to raise proceeds of up to RM165.66 million.
Vizione Holdings Bhd has called off a proposed joint venture with Paragon Residencia Sdn Bhd to develop a residential project worth RM152.2 million in gross development value in Seri Kembangan, Selangor, following lower-than-anticipated proceeds from a cash call that was concluded on Feb 10.
Vizione, formerly known as Astral Supreme Bhd, said from the actual proceeds raised — which it didn't specify — it could only allocate RM9.99 million for the proposed joint venture, and not the RM24.86 million it expected to set aside if the maximum proceeds had been raised.
Vizione’s abridged prospectus, released on Jan 9, stated that if the proceeds raised and allocated for the proposed joint venture was less than RM18 million, it would not participate in the deal.
KESM Industries Bhd’s net profit for its second quarter ended Jan 31, 2017 (2QFY17) leapt 42.52% to RM9.98 million, from RM7 million a year ago, on higher demand for its burn-in and test services.
The automotive semiconductor provider said revenue rose 18.3% to RM83.12 million from RM70.26 million in 2QFY16.
For the first half of FY17, net profit rose to RM19.99 million from RM15.07 million in 1HFY16, while revenue increased to RM163.23 million from RM140.44 million.
“The increase in revenue reflected the continuing growth in the semiconductor industry with significant contributions from the automotive, industrial and storage markets,” executive chairman and chief executive officer Sam Lim said in a filing with Bursa Malaysia.
Icon Offshore Bhd has secured a long-term charter contract for its accommodation workboat Icon Valiant worth RM72.06 million.
Icon said its indirect wholly-owned subsidiary Icon Bahtera (B) Sdn Bhd was awarded the charter contract by SPHI Marine Sdn Bhd, a company operating in Brunei, for the chartering of its vessel to Zell Transportation Sdn Bhd.
The group said the contract commences on March 1, 2017, for a total period of three years with an option for extension of up to two years.
http://www.theedgemarkets.com/my/article/do-datasonic-lbs-bina-vizione-kesm-and-icon-offshore
