-->

Type something and hit enter

On

 KUALA LUMPUR (Oct 20): Based on corporate announcements and news flow today, stocks in focus tomorrow could include KIP Real Estate Investment Trust, Gets Global Bhd, ManagePay Systems Bhd, Handal Energy Bhd, Greatech Technology Bhd and Sime Darby Bhd.

KIP Real Estate Investment Trust (REIT) saw its net property income for the first quarter ended Sept 30, 2020 rise by 3.7% to RM14 million from RM13.5 million a year ago, thanks to lower property operating expenses and better cost management.  

The group said a discount by Tenaga Nasional Bhd helped reduce expenses to RM4.2 million.

Meanwhile, quarterly revenue dipped to RM18.23 million from RM18.49 million a year ago, due to RM1.6 million decrease in revenue from the southern and central regions.

It has declared a distribution per unit of 1.55 sen, up from 1.37 sen a year ago.

Gets Global Bhd, whose share price surged over 35% in active trading today, said it is unaware of the reason behind the sudden jump in the price and trading volume of its shares.

In response to an unusual market activity query from Bursa Malaysia, the loss-making bus operator said it has made enquiries with its directors, major shareholders and other relevant persons but could not find the reason behind the unusual movement in its share price.

Gets Global also said there is no corporate development relating to its business and affairs that has not been previously announced, that may account for the trading activity today.

The shares shot up as much as 29.5 sen or 35.76% to close at RM1.12 today, valuing the counter at RM141.12 million.

Over the last five years, the counter had generally traded below 40 sen, but it began to rise in mid-August.
 
ManagePay Systems Bhd’s peer-to-peer (P2P) financing platform is set to provide floor stocking financing for used-car dealers.  

The company said wholly-owned P2P financing platform QuicKash Malaysia Sdn Bhd will be providing floor stocking financing to 365 Resources Sdn Bhd’s recruited used-car dealers with vehicles acting as collateral and guarantee.  

ManagePay said that under the partnership, participating used-car dealers would be able to access financing of up to 70% of the transaction value of the used cars.  

Offshore crane operator Handal Energy Bhd has secured a new contract from Mubadala Petroleum’s entity MDC Oil & Gas Ltd for the provision of offshore pedestal crane maintenance services and spare parts.   

Handal Energy said the four-year contract was awarded by the Abu Dhabi-based company to its wholly-owned subsidiary Handal Cranes Sdn Bhd.   

"The contract does not have a specified value as it is on a ‘call-out’ basis whereby the work orders are issued at the discretion of the client based on their activity schedules and rates throughout the duration of the contract," it said.   

Greatech Technology Bhd has proposed a one-for-one bonus issue, to reward its shareholders and provide greater equity participation.

The technology firm told Bursa Malaysia the issuance will involve up to 626 million bonus shares.

The proposed bonus issue will expand the company’s issued share capital to 1.25 billion shares, from 626 million shares currently.

Sime Darby Bhd, one of Malaysia’s oldest conglomerates, is weighing a separate listing for its health care unit that could raise at least RM500 million, according to the people familiar with the matter.

The company has held discussions with potential advisers for an initial public offering of Ramsay Sime Darby Health Care Sdn Bhd, the people said.  

A listing on Malaysia’s stock exchange could happen as early as 2021, said the people, who asked not to be identified as the information is private. Sime Darby jointly owns the health care unit with Australia’s largest private hospital operator Ramsay Health Care Ltd.

Deliberations are at an early stage and details of the offering including size and timeline could still change, the people said.  

A representative for Sime Darby declined to comment, adding it will make announcements when necessary. A representative for Ramsay Health Care said they have no comment.

https://www.theedgemarkets.com/article/kip-reit-gets-global-managepay-handal-greatech-and-sime-darby

Click to comment
Back to Top
Back to Top