KUALA LUMPUR (Oct 14): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Oct 15) include Malayan Banking Bhd, VS Industry Bhd, Malaysia Airports Holdings Bhd, Key Alliance Group Bhd, Handal Energy Bhd, Press Metal Aluminium Holdings Bhd and Advance Information Marketing Bhd.
Malayan Banking Bhd (Maybank) chairman Datuk Mohaiyani Shamsudin will retire on Nov 1, and will be replaced by Tan Sri Zamzamzairani Mohd Isa. Zamzamzairani, who retired as the chairman of UEM Sunrise Bhd in July, has many years of experience in the telecommunications field.
Electronics manufacturing services provider VS Industry Bhd is buying six pieces of land with industrial buildings in Senai, Johor for RM98.8 million from AME Elite Consortium Bhd to expand its capacity as its current manufacturing capacity is already fully taken up. The acquisition of the plots, measuring 413,682 sq ft in total, will be funded via internally-generated funds and bank borrowings.
Malaysia Airports Holdings Bhd (MAHB) said more international airlines have resumed their operations at the KLIA following effective COVID-19 safety measures. It also said that passenger traffic movements at its airports across the country rose by 19% to 1.7 million in September from August, while aircraft movements increased by 9.8% to 27,010. Meanwhile, its operations at the Istanbul Sabiha Gokcen International Airport saw close to two million passengers during the month, leading to the group registering 3.5 million passenger traffic movements.
Key Alliance Group Bhd has secured an exclusive agreement with South Korean company Wells Bio Inc, through its global distributor ITDF Co Ltd, which will allow it to supply Wells Bio's reverse transcription polymerase chain reaction (RT PCR) test kits to Malaysia and Singapore.The contract is renewable on a yearly basis automatically, providing exclusivity of the product in Malaysia and Singapore.
Handal Energy Bhd’s wholly-owned subsidiary Handal Cranes Sdn Bhd has bagged a contract to provide ad-hoc offshore crane operator services from Enquest Petroleum Production Malaysia Ltd. The tenure of the contract is for three years, starting Aug 3, with an option to extend for one year. There is no specific value to the said contract.
Press Metal Aluminium Holdings Bhd said the impact of the 38.2% anti-dumping duties imposed by the European Commission (EC) on its two China-based subsidiaries is minimal. The duties are only on extrusion products from the subsidiaries to the EU, which only accounts about 4.6% to the group’s revenue and about 2.8% to its profit after tax in 2019.
Business process outsourcing solution provider Advance Information Marketing Bhd (AIM) has received a notice of conditional voluntary takeover offer from Datuk Chai Woon Chet, who intends to acquire all the shares in AIM at 13 sen each. AIM has 241.97 million issued shares and Chai does not hold any AIM shares. Chai intends to maintain AIM’s listing on the ACE Market.