Cypark, George Kent, Pasukhas, TM, Ibraco, Bermaz Auto, PUC, AirAsia and FGV


KUALA LUMPUR (Sept 11): Based on corporate announcements and news flow today, stocks in focus tomorrow (Sept 12) could include Cypark, George Kent, Pasukhas, TM, Ibraco, Bermaz Auto, PUC, AirAsia and FGV.

Cypark Resources Bhd has secured a RM16.96 million contract for the closure and restoration of a landfill in Negeri Sembilan.

The contract was awarded by the National Solid Waste Management Department, an agency under the Urban Wellbeing, Housing and Local Government Ministry, Cypark said in a filing with Bursa Malaysia.

The group said the contract, which is expected to be completed in November 2018, will contribute positively towards its earnings for its 2017 and 2018 financial years.

"The works will further strengthen the company's position as one of Malaysia's leading specialists in solid waste management and integrated environmental solution," it added.

George Kent (M) Bhd has won for the second time a US$6.86 million (RM28.72 million) tender bid to supply water meters to the Water Supplies Department of Hong Kong.

The latest contract entails George Kent's subsidiary, George Kent International Pte Ltd, delivering 650,000 DN15 Brass PSM-T water meters across 24 shipments in two years.

Calling the single-client order "enormous by industry standard", George Kent said it has already delivered 600,000 units of water meters to the Hong Kong government through an earlier contract inked in 2015.

"The tender award further reinforces our brand as a reliable and reputable provider of world class and superior quality metering products," said group chairman Tan Sri Datuk Tan Kay Hock in a statement.

Pasukhas Group Bhd announced that Telekom Malaysia Bhd (TM) is claiming a total sum of RM698,342.98, together with a 5% interest rate and other costs and reliefs.

Pasukhas said TM's claim was made via a writ of summons and statement of claim, which was served to its wholly-owned Pasukhas Sdn Bhd.

"The company will be consulting its solicitors with regard to the writ and claim and will make further announcement from time to time in respect of any material developments on this matter," Pasukhas said in a Bursa filing.

Sarawak-based property developer Ibraco Bhd has proposed to buy four parcels of vacant freehold land in Petaling Jaya, Selangor, measuring a total of 15,811.16 sq m for RM37.44 million.

The price for acquiring the Petaling Jaya lands has been adjusted to around RM220 per sq ft, Ibraco added.

The land acquisition move, which marked its second venture in expanding its business in West Malaysia, was formalised after Ibraco inked sales and purchase agreements with two firms: Milan Sanctuary Sdn Bhd and Jurapat Sdn Bhd.

According to Ibraco, the lands — which is fronting the New Pantai Expressway — had received a development order from the local authority, Majlis Bandaraya Petaling Jaya, for a mixed commercial development.

Bermaz Auto Bhd has reported a net profit of RM20.21 million for its first quarter ended July 31, 2017 (1QFY18) — the lowest quarterly earnings since its listing in November 2013.

This represents a 50.85% decline compared with the group's 1QFY17 net profit of RM41.11 million.

The distributor of Mazda cars in Malaysia and the Philippines blamed the lower earnings to lower sales volume, compressed gross profit margin as a result of intensifying competition and lower profit contribution from its associate company, Mazda Malaysia Sdn Bhd.

Bermaz Auto's revenue fell 20.74% to RM391.23 million in 1QFY18 from RM493.62 million a year earlier.

The group declared a first interim dividend of 1.5 sen per share — compared with three sen a year ago — which is payable on Oct 27.

PUC Bhd, formerly known as PUC Founder (MSC) Bhd, said its business expansion into e-payments and related businesses will "contribute positively" to its revenue and earnings in the future.

It said this in a bourse filing, following its announcement on Thursday (Sept 7) that its wholly-owned unit EPP Solution Sdn Bhd has secured a licence from the central bank to issue e-money via mobile applications.

The licence was issued by Bank Negara Malaysia (BNM) under Section 11 of the Financial Services Act 2013, which will enable PUC to issue the digital money in a "large scheme".

With the e-money approval, PUC is joining 29 other firms licensed by BNM to operate the digital money services.

AirAsia Bhd said Philippines AirAsia has postponed its planned US$200 million (about RM840 million) initial public offering (IPO) to 2018 to further expand Philippines AirAsia's business, Philippine Daily Inquirer reported today.

Philippine Daily Inquirer, quoting AirAsia's presentation to investors, reported Philippines AirAsia had continued to show "strong load factor and fares". It was reported that Philippines AirAsia had added seven new routes and increased frequencies for certain destinations this year.

Philippine Daily Inquirer quoted AirAsia as saying Philippines AirAsia is "going ahead with listing plans in 2018 for further expansion, to serve the strong travel demand."

AirAsia group chief executive officer Tan Sri Tony Fernandes had said in June this year that Philippines AirAsia had originally scheduled its IPO in 2017's second half.

Felda Global Ventures Holdings Bhd (FGV) has confirmed reports that Datuk Wira Azhar Abdul Hamid, 56, has been appointed its new chairman.

Azhar is taking over the reins from acting chairman Tan Sri Dr Sulaiman Mahbob, in line with a previous announcement by Prime Minister Datuk Seri Najib Razak last Friday.

In a filing with Bursa, FGV said Azhar's appointment as the new chairman was recommended by the plantation firm's nomination and remuneration committee, which was subsequently approved by the board of directors.

As for Sulaiman, 69, FGV said he has been re-designated as the independent and non-executive director with immediate effect.

Azhar's appointment has put an end to the controversy and uncertainty surrounding FGV, which is plagued with corporate governance issues amid the removal of its previous chairman Tan Sri Mohd Isa Abdul Samad, as well as the suspension of its president and chief executive officer Datuk Zakaria Arshad.



http://www.theedgemarkets.com/article/cypark-george-kent-pasukhas-tm-ibraco-bermaz-auto-puc-airasia-and-fgv