KUALA LUMPUR (July 7): Based on corporate announcements and news flow today, stocks in focus tomorrow may include AirAsia Group Bhd, Serba Dinamik Holdings Bhd, Lotus KFM Bhd, KNM Group Bhd, Advancecon Holdings Bhd, Pestech International Bhd, Focus Dynamics Group Bhd, TH Heavy Engineering Bhd, Xinghe Holdings Bhd and ARB Bhd.
AirAsia Group Bhd's external auditor, Ernst & Young PLT, has issued an unqualified audit opinion on the material uncertainty relating to the group's going concern, in view of the travel and border restrictions implemented by countries worldwide that have led to significant fall in demand for air travel.
Serba Dinamik Holdings Bhd is divesting its entire 25.2% equity interest in Singapore-listed CSE Global Ltd for S$57.67 million (RM177.33 million). The group said the original cost of investment in CSE Global was RM170.57 million in April 2018, and the disposal is not expected to have any material gain or loss on the group.
Lotus KFM Bhd (previously known as Kuantan Flour Mills Bhd) said it will be uplifted from being classified as a Practice Note 17 (PN17) company from tomorrow, after it has regularised its financial condition and no longer triggers any of the criteria under the PN17-related clauses of the Main Market Listing Requirements.
KNM Group Bhd said its wholly-owned subsidiary, KNM Process Systems Sdn Bhd, is forming a 51:49 joint venture company with ADAP Capital Sdn Bhd to participate in oil, gas and petrochemical projects in Sarawak. Separately, KNM's founder and chief executive officer Lee Swee Eng has announced his retirement, with the group's chief financial officer Tan Koon Ping succeeding him.
Advancecon Holdings Bhd inked its third memorandum of understanding with pharmaceutical manufacturing plant Peritone Health Sdn Bhd to undertake the engineering, procurement and construction of the 461.12kWp rooftop solar photovoltaic system at its premises in Kulim Hi Tech Park, Kedah.
Pestech International Bhd will issue a perpetual Islamic notes programme of up to RM1 billion for the purpose of refinancing its borrowings, funding its working capital and general corporate purposes. It said the programme is based on the Shariah Principle of Musharakah.
Entertainment and lifestyle group Focus Dynamics Group Bhd today received an unusual market activity query from Bursa Malaysia Securities Bhd over the spike in the company's share price.
Pertaining to news flows in boardroom changes, TH Heavy Engineering Bhd saw its chairman Izad Shahadi Mohd Sallehuddin step down from the position after less than a year, while Xinghe Holdings Bhd's managing director Ma Guo Liang resigned today, and ARB Bhd saw its long-running managing director Datuk Yeo Wang Seng and his son Yeo Gee Kuan, an executive director, relinquish their posts.