CAB Cakaran, Puncak Niaga, Land & General, Axiata, Datasonic, Wah Seong, Enra, EITA, AbleGroup, Versatile Creative, Iris Corp, Syarikat Takaful and UEM Edgenta


KUALA LUMPUR (Sept 13): Based on corporate announcements and news flow today, stocks in focus tomorrow (Sept 14) could include CAB Cakaran, Puncak Niaga, Land & General, Axiata, Datasonic, Wah Seong, Enra, EITA, AbleGroup, Versatile Creative, Iris Corp, Syarikat Takaful and UEM Edgenta.

Penang-based CAB Cakaran Corp Bhd is setting up a poultry slaughtering facility in Singapore, along with a dormitory for its workers.

CAB’s 51%-owned unit, Tong Huat Poultry Processing Factory Pte Ltd, has inked a shareholder agreement with four parties to subscribe to stakes in Singapore Poultry Hub Pte Ltd, which will operate and manage the facility.

The group said the four parties are Kee Song Holdings Pte Ltd, Sinmah Holdings (S) Pte Ltd, Tysan Food Pte Ltd and Tan Chin Long.

CAB will be subscribing for a 25% stake in Singapore Poultry Hub. Kee Seong and Sinmah will also take up 25% stakes, while Tysan and Tan will hold 12.5% stakes.

Puncak Niaga Holdings Bhd announced it has secured the greenlight from the Securities Commission Malaysia (SC) to proceed with its plan to acquire TRIplc Bhd for RM210 million cash, to enhance its construction segment's revenue and long-term growth prospects.

Property developer Land & General Bhd plans to launch two projects with an estimated gross development value (GDV) of RM710 million in its financial year ending March 31, 2018 (FY18).

Its managing director Low Gay Teck said the group is confident the property market will show resilience and probably realise positive profit from to-be-launched projects.

He also said that at ground level, the interest from buyers side has improved from last year.

Axiata Group Bhd announced the incorporation of new digital finance solutions provider company Merchantrade Digital Services Sdn Bhd (MDS).

The group said MDS is under its wholly-owned subsidiary Axiata Digital Services Sdn Bhd (ADS) and is the designated joint venture vehicle with Merchantrade Asia Sdn Bhd in order to provide digital finance services and solutions.

Datasonic Group Bhd is aiming to achieve a record high bottomline for its financial year ending March 31, 2018 (FY18), on the back of its secured contracts from the government.

The group’s deputy managing director Chew Ben Ben explained that the secured contracts for passport and MyKad materials of about RM880 million will last the company for up to five years.

Wah Seong Corporation Bhd (WSC) has incorporated a joint venture company, WS Integrasi Sdn Bhd (WS Integrasi) for the purpose of trading, distribution, sales and marketing of the WSC Group’s products and services in the oil and gas, renewable energy, engineering, industrial and property (including land acquisitions) industries.

WSC said WS Integrasi is a joint venture between WSC and Tengku Rozitatoria Tengku Rostam.

It said WS Integrasi would also undertake other external business services opportunities.

Enra Group Bhd is eyeing RM1 billion upstream jobs in marginal oil fields in Southeast Asia and Australia, which it hopes to secure in 24 months.

Enra president and group chief executive officer Datuk Mazlin Junid said it is working with foreign partners in order to leverage on its expertise to carry out low-cost base projects on fields that have an exploration period of three to four years.

EITA Resources Bhd has bagged a subcontract worth RM11.3 million to supply and install 23 lifts for a residential development in Setapak.

EITA said its wholly-owned subsidiary EITA Elevator (M) Sdn Bhd was awarded the subcontract by Pembenaan Leow Tuck Chui & Sons Sdn Bhd.

Marble and granite slabs manufacturer AbleGroup Bhd announced that the trading of its securities on Bursa Malaysia will be suspended from 9am tomorrow, pending the release of a material announcement.

At the time of writing, AbleGroup — which also has an interest in property development — did not state when the trading of its shares will resume.

Versatile Creative Bhd is planning to dispose of 98.42 million shares, equivalent to a 3.98% stake, in troubled Iris Corp Bhd as part of its plan to monetise non-core investments.

The group said it believes that monetising the non-core stake in Iris is beneficial as it is expected to provide the group with additional funding to pursue other investments.

Currently, Versatile Creative said its holdings of Iris shares are held by its wholly-owned unit Versatile Paper Boxes Sdn Bhd. Based on Iris's closing price of 18.5 sen today, Versatile Creative's nearly 4% stake is worth some RM18.21 million.

Syarikat Takaful Malaysia Bhd (STMB) is set to transfer its general takaful business to a newly-incorporated entity, Syarikat Takaful Malaysia Am Bhd (STMAB).

“STMAB is currently dormant but its intended principal activity is to undertake the general takaful business [which is] currently operated by STMB,” the group said today.

It added that the family takaful business of the company will continue to be carried on, under its proposed new name, Syarikat Takaful Malaysia Keluarga Bhd.

UEM Edgenta Bhd is selling its 61.2% stake in New Zealand-listed Opus International Consultants Ltd at a higher price of NZ$1.92 (about RM6.01) a share, after the buyer upped its offer.

UEM Edgenta said Canada-listed WSP Global Inc raised its offer price to NZ$1.85, while Opus declared an additional dividend of seven cents a share under a variation notice.

Last month, UEM Edgenta said WSP, which offered to buy 100% of Opus, had originally proposed to pay NZ$1.78 a share for the Opus stake.




http://www.theedgemarkets.com/article/cab-cakaran-puncak-niaga-land-general-axiata-datasonic-wah-seong-enra-eita-ablegroup