-->

Type something and hit enter

On

 
MMAG, Dialog, Top Glove, Lii Hen, MSM, IOI, KKB, Sapura, FGV, Yi-Lai and Revenue

KUALA LUMPUR (Nov 16): Based on corporate announcements and news flow today, the following companies are likely to be in focus tomorrow: MMAG Holdings Bhd, Dialog Group Bhd, Top Glove Corp Bhd, Lii Hen Industries Bhd, MSM Malaysia Holdings Bhd, IOI Corp Bhd, KKB Engineering Bhd, Sapura Energy Bhd, FGV Holdings Bhd, Yi-Lai Holdings Bhd and Revenue Group Bhd.

MMAG Holdings Bhd acquired an 80% stake in chartered flight company JT Aerotech Solutions Sdn Bhd for RM21.36 million cash. It bought the stake from JT Aerotech Solutions Sdn Bhd, which will hold a 20% stake in M Jets. MMAG said the acquisition will allow it to complete its supply chain with first mile, middle mile and last-mile delivery to be the nation’s first local full-fledged integrated supply chain management company from the private sector with its own air cargo services.

Dialog Group Bhd’s first quarter ended Sept 30, 2020 (1QFY21) net profit fell by 10.9% to RM146.62 million from RM164.64 million a year prior on lower revenue. Quarterly revenue declined by 48.64% to RM331.66 million from RM645.76 million in 1QFY20. The lower net profit was also the result of a non-cash fair value gain of RM28.5 million in 1QFY20, which resulted in higher net profit in the corresponding quarter last financial year. The lower revenue was due to the focus of the development of its own internal midstream terminal assets, coupled with slower downstream activities and the drop in upstream oil prices.

Top Glove Corp Bhd’s worker dormitory is subject to an Enhanced Movement Control Order (EMCO) from Nov 17 to Nov 30. The EMCO includes both its male and female dormitories, as well as Jalan Abadi 1A/KU8, Jalan Abadi 10A/KU8 and Jalan Abadi 1A. Approximately 13,190 staff and some 1,200 residents in the area will be impacted by the move. Top Glove says it is clarifying the situation with the relevant authorities.

Lii Hen Industries Bhd’s third quarter net profit ended Sept 30, 2020 (3QFY20) jumped by 32.21% to RM28.87 million from RM21.83 million on higher demand for its products, boosted by a better US dollar. Quarterly revenue was up by 42.15% to RM302.06 million, from RM212.5 million a year prior. It has declared a third interim dividend of five sen per share, payable on Dec 18.

Nine months ended Sept 30, 2020 (9MFY20) net profit grew by 1.63% to RM58.24 million, from RM57.3 million a year prior. Revenue was up 6.4% to RM648.6 million, from RM609.6 million.

MSM Malaysia Holdings Bhd’s 3QFY20 net loss narrowed to RM71.21 million, from RM185.1 million a year prior following improved sales margins and new export products. Revenue increased by 12% to RM594.55 million from RM531.69 million in 3QFY19 on higher sales volume for both industry and export markets, as well as better export premiums. For 9MFY20, MSM reported a net loss of RM127.47 million, narrowing from a net loss of RM259.49 million previously while revenue grew 4% to RM1.55 billion from RM1.49 billion last year.

IOI Corp Bhd’s 1QFY21 saw its net profit increase by 86.5% to RM277.9 Millie from RM149 million in the previous corresponding quarter on higher crude palm oil and palm kernel prices. Quarterly revenue grew by 39.5% to RM2.48 billion from RM1.78 billion a year prior. It also recorded a net forex gain of RM98.5 million in 1QFY21 from a forex loss of RM55.9 million.

KKB Engineering Bhd’s 3QFY20 net profit declined by 42.92% to RM11.04 million from RM19.34 million a year prior on slower site work activities. 3QFY20 revenue decreased by 28.84% to RM117.75 million from RM165.48 million a year ago. The group's 9MFY20 net profit fell 20.77% to RM22.22 million from RM28.05 million a year earlier. Its revenue for the period also decreased by 21.8% to RM315.14 million from RM403 million

Sapura Energy Bhd’s engineering and construction (E&C) and drilling segments have secured a total of RM611 million in contracts in Qatar, the Republic of Congo Malaysia and Thailand. In a bourse filing, the oil and gas firm said that its E&C unit has won two contracts, with one located in Qatar and the other in the Malaysia-Thailand Joint Development Area. Meanwhile, its drilling segment bagged a contract in the Republic of Congo. The contracts expire in its financial year ended Jan 31, 2022 (FY22).

FGV Holdings Bhd’s plan to collaborate to internationalise palm oil futures with the Dalian Commodity Exchange has fallen through after two years. The MoU signed between the two expired on Nov 14, 2020.

Yi-Lai Bhd has appointed former chief secretary to the government Tan Sri Dr Ali Hamsa as an Independent Non-Executive Director on its board.

Revenue Group Bhd secured a contract to develop and implement the MyDebit tokenisation platform (TSP) for Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and central infrastructure for Malaysia's financial markets.The platform will be integrated with and used by more than 30 banks throughout Malaysia upon completion.

https://www.theedgemarkets.com/article/mmag-dialog-top-glove-lii-hen-msm-ioi-kkb-sapura-fgv-yilai-and-revenue

Click to comment
Back to Top
Back to Top