FGV, MSM, Maxis, Sapura Energy, Barakah Offshore, Mesiniaga, Yinson, Heitech Padu, Icon Offshore, MBSB and MClean

KUALA LUMPUR (June 19): Based on corporate announcements and news flow today, stocks in focus on Tuesday (June 20) may include: Felda Global Ventures Holdings Bhd (FGV), MSM Malaysia Holdings Bhd, Maxis Bhd, Sapura Energy Bhd, Barakah Offshore Petroleum Bhd, Mesiniaga Bhd, Yinson Holdings Bhd, Heitech Padu Bhd, Icon Offshore Bhd, Malaysia Building Society Bhd (MBSB) and MClean Technologies Bhd.

Felda Global Ventures Holdings Bhd (FGV) saw the appointment of independent and non-executive director Tan Sri Sulaiman Mahbob as its new chairman, replacing Tan Sri Mohd Isa Abdul Samad, who has resigned.

Mohd Isa was subsequently appointed as acting chairman of the Land Public Transport Commission (SPAD.

The Prime Minsiter’s Office also said there are sufficient facts for FGV to initiate disciplinary proceedings against its CEO, CFO and two others, over improprieties involving Delima Oil.

Separately, suspended group president and CEO Datuk Zakaria Arshad said he has engaged lawyer Tan Sri Muhammad Shafee Abdullah to challenge the internal investigation.

MSM Malaysia Holdings Bhd, meanwhile, reported Mohd Isa has stepped down as non-independent and non-executive chairman, to focus on personal undertakings.

MSM said its director Datuk Rosini Abd Samad would replace Mohd Isa as the group’s interim chairman.

Maxis Bhd is looking to raise up to RM1.73 billion via a placement of 300 million new shares, or 4% of its existing share capital.

According to a term sheet sighted by theedgemarkets.com, these new shares will be priced between RM5.52 and RM5.74 per share.

The proceeds are shown to be used for paring down bank borrowings, future spectrum assignment fees funding, expansion plan and growth strategies, should the opportunity arise.

Sapura Energy Bhd saw its net profit drop 75% to RM27.53 million for the first quarter ended April 30, 2017, from RM110.31 million a share a year ago, amid higher taxation.

Quarterly revenue was down 9% to RM1.77 billion, from RM1.94 billion a year ago, due to lower contribution from its drilling and exploration segment, as well as its production segment.

Barakah Offshore Petroleum Bhd won a US$14.28 million contract from Samling Resources to supply a well intervention vessel, a support vessel, and services for the abandonment and decommissioning of Chinguetti and Banda fields, offshore Mauritania.

Barakah’s wholly-owned subsidiary PBJV Group Sdn Bhd had received the letter of award from Samling Resources for the project which involves the temporary plugging of 15 wells and is expected to commence this month.

Mesiniaga Bhd has bagged a RM10.22 million contract for works at one of Universiti Sains Malaysia’s (USM’s) faculty buildings in Penang.

The group said it had received a letter of award from the university to supply, deliver, install, configure, test and commission core and distribution switches, as well as DDI solution (DNS, DHCP and IP address management solution) and IPV6 (Internet Protocol version 6) implementation for the campus's Pusat Pengetahuan Komunikasi dan Teknologi.

The contract period is for two months commencing today, followed by a one-year maintenance period.

Yinson Holdings Bhd reported a 169% surge in net profit to RM60.29 million for the first financial quarter ended April 30, 2017 (1QFY18), from RM22.38 million a year ago, mainly due to higher revenue from its marine business, lower net unfavourable foreign exchange movement of RM10.17 million, as well as higher contribution from joint ventures (JVs) and associates of RM3.55 million.

Revenue jumped 49.4% to RM172.41 million, from RM115.4 million, as its marine segment saw a RM56.72 million increase in revenue.

Heitech Padu Bhd has secured a contract worth RM10.12 million to supply hardware, software and network equipment to Hospital Raja Perempuan Zainab II in Kota Baru, Kelantan.

The group received a letter of award for the supply, delivery, installation, configuration, integration, testing and commissioning of hardware, software, and network equipment for the implementation of Picture Archiving and Communication System (PACS) and improve the Radiology Module, Sistem Pengurusan Pesakit (SPP).

Icon Offshore Bhd has bagged a RM3.4 million job to provide an anchor handling tug supply vessel 60 MT to support PCPP Operating Co Sdn Bhd's plug and abandonment programme at Block SK305 in Sarawak.

The group’s wholly-owned unit Icon Offshore Group Sdn Bhd had secured the 166-day contract beginning today with PCCP — a 40% Petroliam Nasional Bhd (Petronas)-owned associate.

Malaysia Building Society Bhd (MBSB) has submitted an application to Bank Negara Malaysia (BNM) for approval of its proposed merger with Asian Finance Bank Bhd (AFB), which is expected to help give MBSB, full Islamic banking status.

The application had been submitted within the stipulated six-month time frame to "seek the approvals of BNM and/or the Ministry of Finance, Malaysia," MBSB said.

MClean Technologies Bhd has incorporated a new 55%-owned subsidiary in Singapore called MClean Cloud Logistics Pte Ltd (MCLPL) to carry out supply chain and time-to-market delivery solution businesses.

JCS INVF Pte Ltd, in which technology group JCS Group Pte Ltd is a shareholder, holds the remaining 45% equity interest in MCLPL.