CIMB, mTouche, CMMT, G3 Global, Crest Builder, ConnectCounty, Euro Holdings, Wang-Zheng, KUB and Bright Packaging

KUALA LUMPUR (July 19): Based on corporate announcements and news flow today, companies that will be in focus tomorrow (Thursday, July 20) may include: CIMB, mTouche, CMMT, G3 Global, Crest Builder, ConnectCounty, Euro Holdings, Wang-Zheng, KUB and Bright Packaging.

CIMB Group Holdings Bhd said its 94.11%-owned unit CIMB Thai Bank PCL's second quarter net profit rose 794% to 356.64 million baht (about RM46.36 million) from a year earlier as operating income rose on higher net interest income and foreign exchange transaction gains.

CIMB Group told Bursa Malaysia that CIMB Thai's 356.64 million baht net profit in the second quarter ended June 30, 2017 (2QFY17) rose from 39.89 million baht. Total operating income rose to 3.25 billion baht from 3.17 billion baht.

mTouche Technology Bhd has teamed up with a software firm to jointly develop and market a digital media and infotainment platform for IT and mobile channels.

The mobile services and digital media company said the partnership with Advanced Platform Sdn Bhd is to develop a range of software-as-a-service and platform-as-a-service offerings.

The entertainment-related mobile platform is targeted at mTouche’s existing customers in Southeast Asian and Hong Kong markets, and is expected to reach critical mass of more than 10 million users within five years.

CapitaLand Malaysia Mall Trust’s (CMMT) second quarter net property income (NPI) came in at RM59.8 million, down slightly by 0.3% compared with RM60 million a year earlier.

This was largely due to lower contribution from the REIT’s Klang Valley shopping malls, which was mitigated by stronger performance from Gurney Plaza and East Coast Mall, said its manager, CapitaLand Malaysia Mall REIT Management Sdn Bhd (CMRM).

Distributable income for the quarter ended June 30, 2017 was RM41.9 million and distribution per unit (DPU) was 2.06 sen.

G3 Global Bhd’s wholly-owned unit, Atilze Digital Sdn Bhd, has teamed up with U Mobile Sdn Bhd for mobile connectivity.

The partnership will see U Mobile providing 3G and 4G LTE connectivity for the Atilze Connected Car devices.

Crest Builder Holdings Bhd's non-executive chairman Tengku Datuk Sulaiman Shah Tengku Abdul Jalil Shah has disposed of 5 million shares, representing a 2.93% equity stake, in the company over the past two days.

According to a bourse filing, the shares were sold by his vehicle Pertiwi Positif Sdn Bhd via two blocks of 3 million and 2 million shares at RM1.03 per share, totalling RM5.15 million.

Following the sale, Tengku Sulaiman's indirect interest in the company stood at 1.8 million shares or 1.059%.

ConnectCounty Holdings Bhd has expressed its interest in investing in NetObjex Inc, a Delaware corporation specialising in Internet-of-Things (IoT) technology, for US$250,000 (RM1.07 million).

ConnectCounty signed a letter of intent (LoI) with NetObjex on July 17 for the purchase of some 3.13 million shares of Series A Voting Common Stock (Series A stocks) in the California-based company.

The proposed purchase involves some 5.5% of NetObjex's issued share capital, comprising 44.18 million Series A stocks and 12.35 million Series B stocks.

Euro Holdings Bhd has proposed to raise up to RM4.5 million via a private placement exercise to pay its contractors, suppliers and consultants involved in its condominium project in Alam Damai, Cheras.

Estimated to have a gross development value of RM215 million, the  322-unit Vista Damai project was launched in March 2016 with completion expected within three years.

Euro Holdings said it will raise the cash by issuing up to 24.3 million shares, equivalent to 10% of its issued and paid-up capital, which will be at a discount of not more than 10% that will be determined at a later date.

China’s Hengan International Group Co Ltd’s unconditional mandatory takeover offer to acquire the remaining stake it doesn't own in Wang-Zheng Bhd has been rejected by the latter's shareholders.

At an offer price of RM1.14 per offer share, Hengan only obtained acceptances for 3,000 shares at the closing of the offer today.

That leaves Hengan with the same 50.4% stake in Wang-Zheng, which it acquired after buying 80 million shares in the company in June from the larget shareholder then, Wang-Zheng Resources Sdn Bhd, and three others.

Similarly, Temasek Padu Sdn Bhd's takeover offer for the remaining shares in KUB Malaysia Bhd it doesn't own at 35 sen apiece, was rejected by the latter's shareholders.

Its indirect wholly-owned unit Anchorscape Sdn Bhd only secured an additional 59,279 shares or 0.01% of KUB since the offer was made on June 5, said Kenanga Investment Bank Bhd in a press notice on the closing of the offer today.

This leaves Anchorscape with a 52.18% stake in the group.

Bright Packaging Bhd is planning to undertake a bonus issuance on the basis of one bonus share for four existing shares held to reward its shareholders and enhance the trading liquidity of its shares.

The exercise will involve up to 55.49 million new shares, which will be issued to shareholders whose names appear in its Record of Depositors on the entitlement date that will be fixed later.

It said the proposed bonus issue will be capitalised from its share premium and retained earnings, at 50 sen per bonus share, or RM27.74 million in total.