KUALA LUMPUR (Nov 2): Based on corporate announcements and news flow today, stocks in focus on Tuesday (Nov 3) may include: Hong Leong Financial Group, Hong Leong Bank, Sasbadi, UEM Edgenta, ECS ICT, Kronologi Asia, Digi, Ranhill Holdings, Rev Asia, Luster, Cuscapi, G Neptune and Daya Materials.
Hong Leong Financial Group Bhd (HLFG) is planning to raise up to RM25 billion via a RM25 billion multi-currency perpetual notes programme and a RM3 billion commercial papers (CP) programme.
The group said Hong Leong Investment Bank Bhd (HLIB) today lodged the programmes with the Securities Commission Malaysia (SC).
The perpetual notes programme comprises the issuance of senior notes, Tier 2 subordinated notes and additional Tier 1 capital securities.
Meanwhile, HLIB also lodged with the SC today — on behalf of Hong Leong Bank Bhd — a multi-currency Additional Tier 1 capital securities programme for the issuance of Additional Tier 1 capital securities of up to RM10 billion.
Educational material publisher Sasbadi Holdings Bhd has inked a distribution agreement with Marshall Cavendish Education Pte Ltd (MCE), which is principally involved in providing K-12 educational solutions in Singapore.
Under the agreement, MCE grants Sasbadi’s wholly-owned unit Malaysian Book Promotions Sdn Bhd the exclusive right to market and sell, including by way of direct marketing, certain titles published by MCE, in Malaysia.
They include textbooks, workbooks, teacher resources, and supplementary and general materials. The agreement will take effect from Nov 1 and will last till Sept 30, 2020, Sasbadi’s Bursa Malaysia filing today showed.
UEM Edgenta Bhd said its shareholders may receive a special dividend from the proceeds that will come from the disposal of its New Zealand unit, Opus International Consultants Ltd (OIC).
The all-cash transaction is set to bring UEM Edgenta a gross proceeds of RM528.6 million. Over RM400 million will be utilised for the debt repayment, and about RM100 million to be used for general corporate purposes, the management said.
IT product distributor ECS ICT Bhd saw a 20.5% drop in third quarter net profit to RM4.89 million from RM6.15 million a year ago, mainly due to lower margins and higher expenses.
The group said revenue for the quarter ended Sept 30, 2017 rose slightly by 2.1% to RM446.16 million from RM436.91 million, thanks to higher distribution of ICT products.
Cumulative nine-month net profit fell 16.2% to RM14.72 million from RM17.57 million in the previous January-September period. Revenue, however, was up 6.4% to RM1.35 billion from RM1.27 billion.
It declared a single tier interim dividend of 2.5 sen per share amounting to RM4.5 million, payable on Dec 14.
Data storage service provider Kronologi Asia Bhd’s net profit for the third quarter ended Sept 30, 2017 (3QFY17) jumped 66.5% year-on-year to RM2.5 million from RM1.5 million, mainly due to the full consolidation of Quantum Storage (India) Pte Ltd (QSI), which was previously a 20%-held associate.
Similarly, the group’s revenue for the quarter increased 12% y-o-y to RM28.1 million from RM25.1 million.
For the first nine months ended Sept 30, 2017 (9MFY17), Kronologi’s net profit surged 88.5% y-o-y to RM8.62 million from RM4.58 million, as revenue jumped 88.2% to RM101.6 million from RM54 million.
Digi.Com Bhd has appointed online payment networks MOLPay Sdn Bhd and iPay88 Sdn Bhd as partners for its mobile payment service called "vcash".
Digi said vcash will be made available as a payment option for merchants under MOLPay and iPay88's online payment gateway networks, enabling customers to transact using vcash with thousands of merchants with online shopfronts nationwide.
Water supply services provider Ranhill Holdings Bhd's unit Ranhill Water Technologies (Cayman) Ltd (RWTC) has been served with a summons from the court in China claiming alleged unpaid fees amounting to RMB19.94 million (about RM12.76 million).
The company said the claim was also being made against its associate companies, Ranhill Water (Hong Kong) Ltd (RWHK) and Ranhill Technologies (Shanghai) Ltd.
Rev Asia Bhd’s largest shareholder, Catcha Group Pte Ltd, has reduced its stake by another 4.5 million shares to 59.5 million shares or 44.2%, amid work on a proposal to acquire a new core business.
The Group has about eight months to submit its proposal, which it is still in the midst of formulating, to Bursa Malaysia Securities Bhd for approval.
Precision plastic injection moulding service provider Luster Industries Bhd has entered into a joint venture agreement (JVA) to develop a 3.6725 hectare piece of land in Hulu Langat into either a commercial, residential or mixed development.
Luster said its wholly-owned subsidiary Luster Hijauan Home Sdn Bhd entered into the JVA with Enrich Realty Sdn Bhd, which is also the owner of the said land, for the development.
Food and beverage business management solutions provider Cuscapi Bhd said the proceeds raised from a proposed issuance of new shares in the company will be reduced by one-third after the largest investor Ultimate Quality Success Sdn Bhd (UQS) expressed concern over the issuance of additional shares to the other three investors.
Thus, the funds raised will now be RM53.2 million, instead of RM79.8 million.
After engagement with UQS, Cuscapi said it held discussions with the other three investors who agreed to mutually terminate their respective subscription agreements with Cuscapi.
Trading in G Neptune Bhd shares will be suspended on Wednesday (Nov 8), if the IT-based company fails to submit its 2017 annual report by Tuesday (Nov 7). It had failed to submit the report to Bursa Malaysia for public release by Oct 31.
The group said it could not meet the Oct 31 deadline as it was finalising the audited financial statements for FYE 2017 (financial year ended June 30, 2017).
Loss-making integrated oil and gas services provider Daya Materials Bhd has entered into a Memorandum of Understanding (MoU) with Huawei Technologies (M) Sdn Bhd for future project collaboration.
Daya Materials said both parties intend to cooperate in the development of relevant infrastructure for joint submission of tender for any relevant information and communication technology projects, but no specifics were given.