KUALA LUMPUR (June 28): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (June 29) may include the following: Magni-Tech, Sunsuria Bhd, Guan Chong, Sapura Energy, Ikhmas Jaya, Jadi Imaging, Bintai Kinden, Maxis Bhd, LKL International and Lay Hong
Magni-Tech Industries Bhd’s net profit in the fourth quarter ended April 30, 2017 (4QFY17) doubled to RM38.5 million from RM18.84 million a year earlier, mainly because it recorded higher garment sales and benefited from favourable foreign exchange rates.
The group plans to pay 7 sen dividend per share for FY17, comprising a three sen final dividend and a four sen special dividend.
Meanwhile, its quarterly results showed a 54.5% jump in revenue to RM299.65 million from RM193.99 million a year ago.
For the full financial year ended April 30, 2017 (FY17), net profit came in at RM120.1 million, up 46.3% from RM82.11 million in FY16, while revenue climbed 33.5% to RM1.14 billion from RM854.07 million in FY16.
Sunsuria Bhd is teaming up with Hong Kong-based CITIC International Investment Ltd (CIIL) to carry out construction work and property development in Malaysia.
Sunsuria said in a filing today that its wholly-owned subsidiary Sunsuria Builders Sdn Bhd (SBSB) signed an agreement with CIIL to establish a joint-venture company (JVCo) for the purpose.
Cocoa butter maker Guan Chong Bhd plans to buy 100% equity interest in Koko Budi Sdn Bhd for RM17 million in order to expand organically by raising its overall grinding capacity.
It entered into a share sale agreement with the vendors for 3.8 million shares today which would later make Koko Budi its wholly-owned subsidiary.
Sapura Energy Bhd's (SEB) wholly-owned Australian unit Sapura Energy Australia Pty Ltd has completed the Shell Prelude Light Well Intervention (LWI) Campaign-Plug Removal Activity for Shell Australia Pty Ltd in Western Australia.
The LWI work, which involved the retrieval of eight suspension plugs from seven wells in the Prelude field, was performed by SEB's intervention vessel, known as the Sapura Constructor, which is equipped with the Riserless Light Well Intervention (RLWI) system including the recently-upgraded Subsea Intervention Device and Intervention Compensation System.
Under the same five-year call-off agreement, Sapura Energy Australia is currently working on Shell Australia's Light Well Intervention Campaign — Wellhead Retrieval Activity, which involves the severance and retrieval of seven wellheads.
Ikhmas Jaya Group Bhd has bagged a RM36 million contract for works at the proposed Setia City Mall Phase 2 retail development in Selangor.
In a filing with Bursa Malaysia, the group said its unit had accepted the Letter of Award today to carry out site clearance, earthworks, piling and pile caps, ground slab and ancillary works for the project from Greenhill Resources Sdn Bhd — a joint venture between SP Setia Bhd and Asian Retail Investment Fund — is the developer of the Setia City Mall.
Meanwhile, Ikhmas Jaya said its total outstanding order book currently stands at approximately RM903.9 million. Year to date, the group has secured contracts with an aggregate value of RM369.2 million.
Toner manufacturer Jadi Imaging Holdings Bhd is selling freehold land with a detached factory-cum-three-storey office in Shah Alam for RM23 million.
In a filing with Bursa Malaysia today, it said its wholly-owned subsidiary Jadi Imaging Technologies Sdn Bhd entered into a sale and purchase agreement (SPA) with Tropical Fairyland Sdn Bhd.
The gross proceeds from the proposed disposal will be used for bank borrowings repayment, working capital, estimated real property gain tax payable pursuant to the proposed disposal and defray estimated expenses relating to the proposed disposal, said Jadi Imaging.
Bintai Kinden Corp Bhd's 69.82%-owned subsidiary in Singapore has won a S$10.4 million (RM32.4 million) government contract to provide integrated facilities management services.
In a filing with Bursa Malaysia today, Bintai Kinden said Bintai Kindenko Pte Ltd will undertake the job, which includes mechanical and engineering work, at the National Development Ministry's offices in Jem Office Tower.
U Mobile Sdn Bhd, the fourth largest cellular service provider in the nation by subscriber base, is terminating its 3G radio access network (RAN) sharing agreement with Maxis Bhd.
In an announcement to Bursa Malaysia today, Maxis said its wholly-owned subsidiary Maxis Broadband Sdn Bhd received a termination letter in relation to the Network Sharing and Alliance Agreement (NSA) dated Oct 21, 2011.
Healthcare furniture and equipment manufacturer LKL International Bhd made a net profit of RM215,000 in its fourth quarter ended April 30, 2017 (4QFY17), a year after posting a net loss of RM612,000.
The group saw revenue drop 34.6% to RM6.1 million in the quarter from RM9.3 million in 4QFY16 because of lower revenue generated from medical/healthcare beds segment due to economic slowdown generally.
Its full year (FY17) net profit rose 37% to RM4.5 million from RM3.3 million in FY16, while revenue dipped 8.8% to RM33.9 million compared with RM37.5 million in the same period last year.
Lay Hong Bhd has announced a final dividend of 0.5 sen per share for the year ended March 31, 2017 (FY17), payable on Nov 8 with the ex-date fixed for Oct 13.
http://www.theedgemarkets.com/article/magnitech-sunsuria-guan-chong-sapura-energy-ikhmas-jaya-jadi-imaging-bintai-kinden-maxis-lkl
