Macpie, George Kent, Willowglen, LKL, Global Oriental, LBS, Green Packet and PetChem

 KUALA LUMPUR (Sept 14): Based on corporate announcements and news flow today, stocks in focus on Tuesday (Sept 15) may include: Macpie Bhd, George Kent (Malaysia) Bhd, Willowglen MSC Bhd, LKL International Bhd, Global Oriental Bhd, LBS Bina Group Bhd, Green Packet Bhd and Petronas Chemicals Group Bhd (PetChem).

Macpie Bhd, which has received an unusual market activity query from Bursa Malaysia today following a recent spike in its share price, says its largest shareholder has exited the company after disposing of a 24.54% stake in the company on Friday (Sept 11). The group said it had received notifications from its executive director Ng Chee Heng and the latter's private vehicle SEG Capital Intelligence Sdn Bhd that SEG Capital had disposed of 86.71 million Macpie shares via the open market. The shares were disposed of at 33 sen apiece.
 
George Kent (Malaysia) Bhd’s net profit for its second quarter ended July 31, 2020 (2QFY21) jumped 135% to RM8.74 million from RM3.73 million in the preceding quarter ended April 30, as work orders continued to come in under its water metering business, despite business closures during the government’s movement control order (MCO). Revenue rose 78% quarter-on-quarter to RM70.16 million from RM39.31 million. The group declared an interim dividend of one sen per share, which will be paid on Oct 22. For the cumulative six months ended July 31, the group's net profit sank 49% y-o-y to RM12.47 million from RM24.56 million, while revenue fell 39% to RM109.47 million from RM180.5 million.

Willowglen MSC Bhd's unit Willowglen Services Pte Ltd has been awarded a contract worth RM6.11 million by Singapore’s SP PowerAssets Ltd for the comprehensive maintenance of a cable oil pressure monitoring system, as well as the system's migration. The job will start today and be completed by Sept 13, 2025.

LKL International Bhd has finally revealed the identity of the Chinese company, namely Weihai Textile Group Import and Export Co Ltd, that granted it the RM78.5 million nitrile glove supply contract. The announcement came after the company was queried by Bursa Malaysia for more details of the contract. Just a week ago, LKL said it could not reveal the name of the new customer, as the latter had denied its request to reveal its identity.

Global Oriental Bhd is teaming up with a South Korean firm to explore opportunities in the distribution of the latter’s nano bubble products in Malaysia and Singapore. The group’s wholly-owned unit Global Nano Innovation Sdn Bhd today entered into a memorandum of understanding (MoU) with Fawoo Nanotech Co Ltd for the matter, it said in a bourse filing.

LBS Bina Group Bhd (LBS) has unveiled affordable landed homes Ritma Perdana, the fourth phase of township Alam Perdana in Selangor. Due to encouraging response to its previous phases in the township, LBS pushes forward with the new phase, which has a gross development value of RM611 million.

Green Packet Bhd has teamed up with German reinsurer Hannover RE for a commercial fleet usage-based insurance telematics programme in Malaysia. The group had inked an agreement with Hannover Re SE Malaysia branch, to provide Hannover Re with commercial fleet telemetry technology that collects data and delivers driver behaviour-based scores for analysis.

Petronas Chemicals Group Bhd (PetChem) announced today that it has acquired a 50% stake in Germany’s PCC SE’s Malaysian unit, PCC Oxyalkylates Malaysia Sdn Bhd (PCC-OM), marking its entry into the growing oxyalkylates market. Through this acquisition, the group and PCC plan to build an oxyalkylates facility within the Kertih Integrated Petrochemical Complex, Terengganu, to produce ethoxylates and polyether polyols.

https://www.theedgemarkets.com/article/macpie-george-kent-willowglen-lkl-global-oriental-lbs-green-packet-and-petchem