KUALA LUMPUR (March 31): Based on corporate announcements and news flow today, stocks in focus on Monday (April 3) may include: Sapura Energy Bhd, AirAsia Bhd, Ahmad Zaki Resources Bhd, Master-Pack Group Bhd, Globetronics Technology Bhd, ATTA Global Group Bhd, Vizione Holdings Bhd, Nexgram Holdings Bhd, Borneo Oil Bhd, Inix Technologies Holdings Bhd, Kerjaya Prospek Group Bhd, Eversafe Rubber Bhd and Mulpha International Bhd
Sapura Energy Bhd’s (formerly SapuraKencana Petroleum Bhd) net loss for the fourth quarter ended Jan 31, 2017 (4QFY17) contracted to RM172.3 million from RM1.29 billion a year earlier. Revenue declined 18.8% to RM1.81 billion from RM2.23 billion.
The company has declared a single tier interim dividend of one sen per share, which will go ex on April 12 and is payable on April 28.
For the full financial year (FY17), the group returned to the black with net profit of RM208.3 million from a net loss of RM791.6 million in FY16, although revenue dropped by 24.9% to RM7.65 billion from RM10.2 billion.
AirAsia Bhd is forming a RM194 million (1 trillion Vietnamese dong) joint venture (JV) low-cost airline in Vietnam, which is expected to commence operations by early 2018.
AirAsia's wholly-owned unit AirAsia Investment Ltd (AAIL) executed a shareholders agreement and a share subscription agreement with Gumin Co Ltd, an individual Tran Trong Kien, and existing Vietnamese seaplane service provider Hai Au Aviation Joint Stock Company (HAA).
AAIL will subscribe for 30% stake or 30 million shares in the JV company for RM58.2 million via internal funding. AAIL and Gumin will also provide loans worth US$2 million (RM8.84 million) and US$4 million each to HAA.
The Vietnamese airline market is currently dominated by VietJet, which has a total (including low-cost carrier) market share of 43%.
Global investment firm Actis has emerged as the largest shareholder of GHL Systems Bhd after acquiring a 44.37% equity stake in GHL Systems, triggering a mandatory general offer (MGO) for the shares it does not own in the company.
Actis bought a 28.3% stake from Cycas — a unit of private equity firm Creador — marking the latter’s exit from GHL. It subscribed to the balance 16.1% stake from GHL executive vice chairman Simon Loh, who is now left with a 19.1% stake in the company.
The stakes were acquired at RM1 per share or RM290.24 million. Likewise, Actis’ MGO is priced at RM1 per share — a 16% discount to the counter's closing price of RM1.19 on March 30, and a 15.3% discount to its five-day volume weighted average market price of RM1.18.
In the event Actis ends up with 75% or more of GHL's shares, Actis said it does not intend to maintain the listing status of GHL.
Ahmad Zaki Resources Bhd (AZRB) aims to undertake a private placement of up to 10% of its issued shares to raise money for working capital purposes.
As of March 17, AZRB’s share capital stood at RM120.9 million with 483.5 million shares, including 1.5 million treasury shares.
The issue price as well as the identity of the institutional investors will be announced at a later date, said AZRB, adding that the placement is expected to be completed by 2QFY17.
“The placement shares will be issued at a price of not more than 10% discount to the five-day volume weighted average market price of AZRB shares immediately preceding the price-fixing date,” AZRB said.
Master-Pack Group Bhd’s executive chairman Datuk Syed Mohamad Syed Murtaza has been remanded by the Malaysian Anti-Corruption Commission (MACC) for investigations involving Yayasan Bumiputra Pulau Pinang Bhd.
Syed Mohamad is also an independent non-executive director in Globetronics Technology Bhd. Globetronics said Syed Mohamad, being an independent non-executive director, was not involved in the company's day-to-day operations.
According to separate statements by Master-Pack and Globetronics to Bursa Malaysia today, the MACC had remanded Syed Mohamad "to facilitate and assist investigations currently being conducted by SPRM".
ATTA Global Group Bhd (formerly known as SMPC Corp Bhd) is looking to raise as much as RM188.62 million — more than double its current market value of RM89.64 million — mainly for working capital or investment into an entirely new business.
It intends to raise the funds via the rights issue of irredeemable convertible preference shares (ICPS) to existing shareholders, the company said in a stock exchange filing today.
The minimum amount it could raise from the exercise is RM12 million. To ensure the minimum subscription is achieved, it has procured written irrevocable undertakings from two directors-cum-shareholders of Atta to take up the requisite shares.
The steel producer, however, said it has yet to identify any new investment opportunities.
The ICPS — to be issued on the basis of 10 ICPS for every ATTA share owned – is priced at six sen per share. The entitlement date is to be announced later.
ATTA’s share capital stood at RM79.7 million with 79.7 million shares as at March 30, 2017, which could grow to RM2.21 billion comprising 3.46 billion shares, in the maximum scenario.
Vizione Holdings Bhd today entered into a Heads of Agreement (HoA) to negotiate further on the proposed acquisition of Wira Syukur (M) Sdn Bhd (WSSB) for RM280 million from WSSB’s shareholders.
WSSB’s owners or vendors are Vizione’s managing director Datuk Ng Aun Hooi, Bee Jian Ming and Goon Mong Yee.
The group said the proposed acquisition is to be satisfied via cash.
Vizione added that the issuance of new shares in Vizione at the issue price of 11 sen per share, and the cash consideration amount and the number of shares are to be determined later.
The vendors have agreed to provide an accumulative profit guarantee of RM82.59 million in respect of the actual aggregate audited profit after tax of WSSB for the financial years ending Dec 31, 2017 and Dec 31, 2018, said Vizione.
Nexgram Holdings Bhd sank further into the red in the second quarter ended Jan 31, 2017 (2QFY17) with a net loss of RM6.19 million — its third quarterly loss in a row — as revenue from its information technology (IT) subsidiaries continued to decline.
It recorded a net profit of RM24.01 million a year ago on revenue of RM25.18 million. Its 2QFY17 revenue came in 62% lower at RM9.66 million.
The topline fall was also due to contribution from subsidiaries that deal in security and video surveillance equipment which “dropped tremendously.”
This was due to environment changes across the IT and telecommunication industries, Nexgram said.
Going forward, Nexgram said it is in the midst of securing new projects for its property, construction and logistics businesses as part of its business rationalisation.
Borneo Oil Bhd’s net profit for its fourth quarter ended Jan 31, 2017 (4QFY17) rose by more than fourfold to RM10.74 million from RM2.46 million a year earlier, despite a plunge in its revenue.
Revenue tumbled 83.8% to RM30.74 million from RM190.19 million in 4QFY16.
However, this was offset by higher other income, which improved from RM412,000 to RM14.43 million, as well as higher profit from operations, which rose to RM10.31 million from RM4.37 million a year ago.
Borneo Oil said that overall profit for 4QFY17 was mainly contributed by the fast food franchise, head office and property divisions.
For the full financial year (FY17), the group’s net profit more than tripled to RM47.42 million from RM11.13 million in FY16. Revenue fell 43% to RM159.52 million from RM279.96 million.
On outlook, Borneo Oil, which is also involved in the gold mining business, opined that gold prices will continue to remain strong despite the second hike in interest rate by the US Federal Reserve.
Meanwhile, it noted that its pilot heap leaching project is having some minor adjustments and delays mainly due to inclement weather, but barring unforeseen circumstances, it is estimated to start test runs within the next three months.
On its limestone mining activities, Borneo Oil said that the limestone block production division is “in full swing and will be a major bottom line contributor” to the group in 1QFY18.
As for the fast food franchise business, the new SugarBun Ltd grab-and-go concept under “Broasted by SugarBun” is ready to be launched in parts of peninsular Malaysia, Sabah, Singapore and Kalimantan in the next 12 months, based on a concept of a "one track mind food choice" low entry, fast returns and “empowerment of entrepreneurships”, it said.
On the other hand, the group’s first Biofraction plant — which will convert palm oil biomass to biochar, biofuel and biogas — will be ready for commercial test run in six months’ time. It said that the plant is presently being installed and will have a capacity of converting 25 tonnes of biomass a day.
Inix Technologies Holdings Bhd returned to profitability in the second financial quarter ended Jan 31, 2017 (2QFY17) with a net profit of RM1.88 million as revenue improved.
The group recorded a net loss of RM2.44 million a year earlier, as revenue came in at only RM24,000. Quarterly revenue rose to RM2.05 million in 2QFY17.
For the cumulative six months ended Jan 31 (1HFY17), Inix’s net loss narrowed 81% to RM449,000 from RM2.33 million last year, as revenue climbed 78% to RM2.15 million from RM1.21 million.
On outlook, Inix is expecting stiff competition both domestically and regionally with regards to the ICT segment. However, it is leveraging on its strong track record and extensive customer networking in expanding and penetrating both existing and new markets, it said.
IT is also stepping up efforts to invest in research and development to enhance its competitiveness and productivity.
“In expansion of existing business, despite focusing on making ICT solutions, the group diversified into dredging and land reclamation services industry through the acquisition of Galactic Maritime (M) Sdn Bhd and will provide alternative income stream for Inix in the future,” it added.
Kerjaya Prospek Group Bhd has won a RM31.6 million contract to develop 32 three-storey terrace houses in Penang.
Its subsidiary Kerjaya Prospek (M) Sdn Bhd today received the letter of award from Bina BMK Sdn Bhd for the project — located in Bandar Tanjung Pinang (Phase 1), north-east of the island.
The group said works will commence on March 22, and is due for completion by Sept 21 next year. The project will contribute to the company's books for its financial year ending 2017 (FY17) and FY18, it added.
Eversafe Rubber Bhd, which is slated for listing on the local stock exchange’s ACE Market on April 10, expects to raise about RM17.28 million from its initial public offering (IPO), which will be mostly spent on upgrading its facility in Ipoh, Perak.
At its prospectus launch today, the tyre-retreading company said the IPO exercise entails the issuance of up to 78 million shares, comprising a public issue of 48 million shares and an offer for sale of 30 million shares, at an issue price of 36 sen per share.
Under the public issue, 12.5 million shares will be made available to the Malaysian public, while 11.5 million shares will be for the company's directors and eligible employees. Meanwhile, 24 million shares have been earmarked for private placements.
Meanwhile, six million out of the 30 million offer shares will be made available to institutional and selected investors via private placement, while the balance 24 million shares will be placed out to Bumiputera investors.
Mulpha International Bhd said its One&Only Hayman Island hotel along Australia's Great Barrier Reef "incurred significant damage" last Tuesday (March 28) from Cyclone Debbie.
It added that all One&Only Hayman Island guests and staff on the island were safe with no injuries sustained.
The hotel is covered under a property insurance policy, which included protection from the cyclone's impact on the hotel's business for up to two years.
http://www.theedgemarkets.com/my/article/sapura-energy-airasia-ahmad-zaki-master-pack-globetronics-atta-global-vizione-nexgram-borneo
Sapura Energy Bhd’s (formerly SapuraKencana Petroleum Bhd) net loss for the fourth quarter ended Jan 31, 2017 (4QFY17) contracted to RM172.3 million from RM1.29 billion a year earlier. Revenue declined 18.8% to RM1.81 billion from RM2.23 billion.
The company has declared a single tier interim dividend of one sen per share, which will go ex on April 12 and is payable on April 28.
For the full financial year (FY17), the group returned to the black with net profit of RM208.3 million from a net loss of RM791.6 million in FY16, although revenue dropped by 24.9% to RM7.65 billion from RM10.2 billion.
AirAsia Bhd is forming a RM194 million (1 trillion Vietnamese dong) joint venture (JV) low-cost airline in Vietnam, which is expected to commence operations by early 2018.
AirAsia's wholly-owned unit AirAsia Investment Ltd (AAIL) executed a shareholders agreement and a share subscription agreement with Gumin Co Ltd, an individual Tran Trong Kien, and existing Vietnamese seaplane service provider Hai Au Aviation Joint Stock Company (HAA).
AAIL will subscribe for 30% stake or 30 million shares in the JV company for RM58.2 million via internal funding. AAIL and Gumin will also provide loans worth US$2 million (RM8.84 million) and US$4 million each to HAA.
The Vietnamese airline market is currently dominated by VietJet, which has a total (including low-cost carrier) market share of 43%.
Global investment firm Actis has emerged as the largest shareholder of GHL Systems Bhd after acquiring a 44.37% equity stake in GHL Systems, triggering a mandatory general offer (MGO) for the shares it does not own in the company.
Actis bought a 28.3% stake from Cycas — a unit of private equity firm Creador — marking the latter’s exit from GHL. It subscribed to the balance 16.1% stake from GHL executive vice chairman Simon Loh, who is now left with a 19.1% stake in the company.
The stakes were acquired at RM1 per share or RM290.24 million. Likewise, Actis’ MGO is priced at RM1 per share — a 16% discount to the counter's closing price of RM1.19 on March 30, and a 15.3% discount to its five-day volume weighted average market price of RM1.18.
In the event Actis ends up with 75% or more of GHL's shares, Actis said it does not intend to maintain the listing status of GHL.
Ahmad Zaki Resources Bhd (AZRB) aims to undertake a private placement of up to 10% of its issued shares to raise money for working capital purposes.
As of March 17, AZRB’s share capital stood at RM120.9 million with 483.5 million shares, including 1.5 million treasury shares.
The issue price as well as the identity of the institutional investors will be announced at a later date, said AZRB, adding that the placement is expected to be completed by 2QFY17.
“The placement shares will be issued at a price of not more than 10% discount to the five-day volume weighted average market price of AZRB shares immediately preceding the price-fixing date,” AZRB said.
Master-Pack Group Bhd’s executive chairman Datuk Syed Mohamad Syed Murtaza has been remanded by the Malaysian Anti-Corruption Commission (MACC) for investigations involving Yayasan Bumiputra Pulau Pinang Bhd.
Syed Mohamad is also an independent non-executive director in Globetronics Technology Bhd. Globetronics said Syed Mohamad, being an independent non-executive director, was not involved in the company's day-to-day operations.
According to separate statements by Master-Pack and Globetronics to Bursa Malaysia today, the MACC had remanded Syed Mohamad "to facilitate and assist investigations currently being conducted by SPRM".
ATTA Global Group Bhd (formerly known as SMPC Corp Bhd) is looking to raise as much as RM188.62 million — more than double its current market value of RM89.64 million — mainly for working capital or investment into an entirely new business.
It intends to raise the funds via the rights issue of irredeemable convertible preference shares (ICPS) to existing shareholders, the company said in a stock exchange filing today.
The minimum amount it could raise from the exercise is RM12 million. To ensure the minimum subscription is achieved, it has procured written irrevocable undertakings from two directors-cum-shareholders of Atta to take up the requisite shares.
The steel producer, however, said it has yet to identify any new investment opportunities.
The ICPS — to be issued on the basis of 10 ICPS for every ATTA share owned – is priced at six sen per share. The entitlement date is to be announced later.
ATTA’s share capital stood at RM79.7 million with 79.7 million shares as at March 30, 2017, which could grow to RM2.21 billion comprising 3.46 billion shares, in the maximum scenario.
Vizione Holdings Bhd today entered into a Heads of Agreement (HoA) to negotiate further on the proposed acquisition of Wira Syukur (M) Sdn Bhd (WSSB) for RM280 million from WSSB’s shareholders.
WSSB’s owners or vendors are Vizione’s managing director Datuk Ng Aun Hooi, Bee Jian Ming and Goon Mong Yee.
The group said the proposed acquisition is to be satisfied via cash.
Vizione added that the issuance of new shares in Vizione at the issue price of 11 sen per share, and the cash consideration amount and the number of shares are to be determined later.
The vendors have agreed to provide an accumulative profit guarantee of RM82.59 million in respect of the actual aggregate audited profit after tax of WSSB for the financial years ending Dec 31, 2017 and Dec 31, 2018, said Vizione.
Nexgram Holdings Bhd sank further into the red in the second quarter ended Jan 31, 2017 (2QFY17) with a net loss of RM6.19 million — its third quarterly loss in a row — as revenue from its information technology (IT) subsidiaries continued to decline.
It recorded a net profit of RM24.01 million a year ago on revenue of RM25.18 million. Its 2QFY17 revenue came in 62% lower at RM9.66 million.
The topline fall was also due to contribution from subsidiaries that deal in security and video surveillance equipment which “dropped tremendously.”
This was due to environment changes across the IT and telecommunication industries, Nexgram said.
Going forward, Nexgram said it is in the midst of securing new projects for its property, construction and logistics businesses as part of its business rationalisation.
Borneo Oil Bhd’s net profit for its fourth quarter ended Jan 31, 2017 (4QFY17) rose by more than fourfold to RM10.74 million from RM2.46 million a year earlier, despite a plunge in its revenue.
Revenue tumbled 83.8% to RM30.74 million from RM190.19 million in 4QFY16.
However, this was offset by higher other income, which improved from RM412,000 to RM14.43 million, as well as higher profit from operations, which rose to RM10.31 million from RM4.37 million a year ago.
Borneo Oil said that overall profit for 4QFY17 was mainly contributed by the fast food franchise, head office and property divisions.
For the full financial year (FY17), the group’s net profit more than tripled to RM47.42 million from RM11.13 million in FY16. Revenue fell 43% to RM159.52 million from RM279.96 million.
On outlook, Borneo Oil, which is also involved in the gold mining business, opined that gold prices will continue to remain strong despite the second hike in interest rate by the US Federal Reserve.
Meanwhile, it noted that its pilot heap leaching project is having some minor adjustments and delays mainly due to inclement weather, but barring unforeseen circumstances, it is estimated to start test runs within the next three months.
On its limestone mining activities, Borneo Oil said that the limestone block production division is “in full swing and will be a major bottom line contributor” to the group in 1QFY18.
As for the fast food franchise business, the new SugarBun Ltd grab-and-go concept under “Broasted by SugarBun” is ready to be launched in parts of peninsular Malaysia, Sabah, Singapore and Kalimantan in the next 12 months, based on a concept of a "one track mind food choice" low entry, fast returns and “empowerment of entrepreneurships”, it said.
On the other hand, the group’s first Biofraction plant — which will convert palm oil biomass to biochar, biofuel and biogas — will be ready for commercial test run in six months’ time. It said that the plant is presently being installed and will have a capacity of converting 25 tonnes of biomass a day.
Inix Technologies Holdings Bhd returned to profitability in the second financial quarter ended Jan 31, 2017 (2QFY17) with a net profit of RM1.88 million as revenue improved.
The group recorded a net loss of RM2.44 million a year earlier, as revenue came in at only RM24,000. Quarterly revenue rose to RM2.05 million in 2QFY17.
For the cumulative six months ended Jan 31 (1HFY17), Inix’s net loss narrowed 81% to RM449,000 from RM2.33 million last year, as revenue climbed 78% to RM2.15 million from RM1.21 million.
On outlook, Inix is expecting stiff competition both domestically and regionally with regards to the ICT segment. However, it is leveraging on its strong track record and extensive customer networking in expanding and penetrating both existing and new markets, it said.
IT is also stepping up efforts to invest in research and development to enhance its competitiveness and productivity.
“In expansion of existing business, despite focusing on making ICT solutions, the group diversified into dredging and land reclamation services industry through the acquisition of Galactic Maritime (M) Sdn Bhd and will provide alternative income stream for Inix in the future,” it added.
Kerjaya Prospek Group Bhd has won a RM31.6 million contract to develop 32 three-storey terrace houses in Penang.
Its subsidiary Kerjaya Prospek (M) Sdn Bhd today received the letter of award from Bina BMK Sdn Bhd for the project — located in Bandar Tanjung Pinang (Phase 1), north-east of the island.
The group said works will commence on March 22, and is due for completion by Sept 21 next year. The project will contribute to the company's books for its financial year ending 2017 (FY17) and FY18, it added.
Eversafe Rubber Bhd, which is slated for listing on the local stock exchange’s ACE Market on April 10, expects to raise about RM17.28 million from its initial public offering (IPO), which will be mostly spent on upgrading its facility in Ipoh, Perak.
At its prospectus launch today, the tyre-retreading company said the IPO exercise entails the issuance of up to 78 million shares, comprising a public issue of 48 million shares and an offer for sale of 30 million shares, at an issue price of 36 sen per share.
Under the public issue, 12.5 million shares will be made available to the Malaysian public, while 11.5 million shares will be for the company's directors and eligible employees. Meanwhile, 24 million shares have been earmarked for private placements.
Meanwhile, six million out of the 30 million offer shares will be made available to institutional and selected investors via private placement, while the balance 24 million shares will be placed out to Bumiputera investors.
Mulpha International Bhd said its One&Only Hayman Island hotel along Australia's Great Barrier Reef "incurred significant damage" last Tuesday (March 28) from Cyclone Debbie.
It added that all One&Only Hayman Island guests and staff on the island were safe with no injuries sustained.
The hotel is covered under a property insurance policy, which included protection from the cyclone's impact on the hotel's business for up to two years.
http://www.theedgemarkets.com/my/article/sapura-energy-airasia-ahmad-zaki-master-pack-globetronics-atta-global-vizione-nexgram-borneo
