KUALA LUMPUR (Sept 7): Based on corporate announcements and news flow today, stocks in focus tomorrow (Sept 8) may include: AZRB, Mitrajaya, Amanahraya REIT, Gabungan AQRS, Lien Hoe, SCGM, Media Prima, PUC, TM, BAT, AirAsia and Bintai Kinden.
Civil engineering and construction group Ahmad Zaki Resources Bhd (AZRB) has bagged a contract worth RM221.9 million to undertake substructure works for Bukit Bintang City Centre (BBCC).
The contract — scheduled to be completed in 28 months — was awarded by BBCC Development Sdn Bhd. With the new contract, AZRB said its current orderbook stands at RM3.7 billion.
Mitrajaya Holdings Bhd’s wholly-owned unit Pembinaan Mitrajaya Sdn Bhd has won two construction projects in Kuala Lumpur and Selangor for a combined contract sum of RM377.45 million.
The first contract, worth RM333.55 million, is to develop an academic building and a car park for a higher learning institution in Kuala Lumpur by Sept 2019. The second contract was awarded by Gema Padu Sdn Bhd to develop affordable housing in Sepang under the Rumah Selangorku scheme for RM43.91 million, which should be completed by Aug 2020.
Amanahraya Real Estate Investment Trust (Amanahraya REIT) is acquiring Vista Tower, a 63-storey office building, from The Intermark Sdn Bhd for RM455 million in cash — funded via a medium-term note programme.
The REIT’s management company, AmanahRaya-Kenedix REIT Manager Sdn Bhd, said that the purchase consideration was below the market value, estimated at about RM523 million, based on the investment method.
Gabungan AQRS Bhd's wholly-owned property development unit, AQRS The Building Co Sdn Bhd (AQRS-TBC), has been served with a letter of demand for outstanding payment of RM50.46 million to Lien Hoe Corp Bhd, after the company allegedly defaulted on its payment schedule.
Lien Hoe said in a filing that AQRS-TBC is required to pay the sum to its wholly-owned unit Pro-Meridian Sdn Bhd within 14 days or risk legal proceedings. The payment is in relation to a development of two service apartments in Johor Bahru — valued at RM450 million — where AQRS-TBC is slated to pay Pro-Meridian RM117 million from the proceeds.
SCGM Bhd has declared a first interim dividend of 1.5 sen for the financial year ending April 30, 2018 (FY18), payable on Oct 18.
Its net profit in its first quarter ended July 31, 2017 (1QFY18) was almost flat at RM5.59 million, from RM5.51 million a year ago despite revenue jumping 42% to RM53.66 million, from RM37.88 million previously. The company also reported lower other operating income of RM488,000 in the quarter against RM1.11 million a year ago.
Media Prima Bhd announced that its over-the-top (OTT) content player ‘tonton’ — part of Media Prima Television Networks (MPTN) — will air the Outdoor Channel Asia beginning next month.
Currently available in Malaysia, Singapore and Brunei, tonton offers free membership for Malaysians, as well as paid premium service ‘tonton VIP’ for the wider audience. MPTN is also hoping to expand the service in another country in the next quarter.
PUC Bhd, formerly known as PUC Founder (MSC) Bhd’s wholly-owned unit EPP Solution Sdn Bhd has received the nod from Bank Negara Malaysia (BNM) to launch an electronic money (e-money) scheme through its mobile application before Sept 6 next year.
PUC said that e-money schemes are divided into small and large schemes depending on purse size and the outstanding e-money liabilities, and that the BNM approval is for the large scheme.
Telekom Malaysia Bhd (TM) and Iskandar Regional Development Authority (IRDA) had recently signed a Memorandum of Understanding (MOU), under which TM will implement smart city services across Johor's Iskandar Malaysia.
TM said its investments in Iskandar Malaysia include the fibre optic telecommunication infrastructure, a world-class data centre and an Integrated Operations Centre — the first centralised command centre in Malaysia for Internet of Things operations of smart city services.
The reintroduction of the 10-stick cigarette pack locally could increase British American Tobacco (Malaysia) Bhd’s earnings by 14.2% to 17.8% in financial year ending Dec 31, 2018 (FY18) and FY19, through a 15% to 20% increase in BAT’s sales volume, according to CIMB Equity Research.
CIMB Research highlighted the proposal by tobacco companies in Malaysia to reintroduce 10-stick packs of cigarettes in Malaysia that was intended to cut down sales of illicit cigarettes — which took up 57.9% of total sales volume as at May this year.
AirAsia Bhd has won an Asean Business Award following its outstanding performance in the Asean priority integration sector – tourism.
Its group chief executive officer Tan Sri Tony Fernandes said that having flown 13.4 million people within Asean last year, the low-cost carrier has helped create new jobs in travel and tourism, as well as new supply chains in otherwise unconnected places in the region.
Mechanical and electrical engineering service provider Bintai Kinden Corp Bhd is looking at participating in data centres, amid the flourishing e-commerce trend in South East Asia.
Group managing director cum chief executive officer Ong Choon Lui said the group aims to tender for mechanical and electrical engineering (M&E) service provision projects for data centres in the region, especially in Singapore.