DNeX, TM, Kenanga Investment Bank, Widad, Chin Hin Property, Tomei, XOX, AwanTec, Maybank, PLS Plantations, QL Resources and Boilermech
KUALA LUMPUR (Feb 8): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Feb 9) include: Dagang NeXchange Bhd (DNeX), Telekom Malaysia Bhd (TM), Kenanga Investment Bank Bhd, Widad Group Bhd, Chin Hin Group Property Bhd, Tomei Consolidated Bhd, XOX Bhd, AwanBiru Technology Bhd (AwanTec), Malayan Banking Bhd (Maybank), PLS Plantations Bhd, QL Resources Bhd and Boilermech Holdings Bhd.
A consortium led by Dagang NeXchange Bhd (DNeX) has won the bid to acquire semiconductor fabricating company SilTerra Malaysia Sdn Bhd from Khazanah Nasional Bhd. DNeX said Khazanah has informed DNeX that it had won its bid for the entire issued share capital of SilTerra, subject to the signing of a definitive agreement.
Telekom Malaysia Bhd (TM) is planning to buy back all outstanding Islamic Medium-Term Notes (IMTNs), before their respective maturity dates. These debt papers were issued up to RM2 billion in nominal value. There are seven tranches with coupon rates between 3.93% and 4.5%, as well as maturity dates of between June 25, 2021 and June 23, 2023.
Kenanga Investment Bank Bhd via its wholly-owned Kenanga Private Equity Sdn Bhd is acquiring a 19% stake in digital asset exchange (DAX) operator Tokenize Technology (M) Sdn Bhd (Tokenize Malaysia) to accelerate the buyers' digital agenda. Tokenize Malaysia operates Tokenize Xchange, which allows trading of cryptocurrencies like Bitcoin and Ethereum.
Widad Group Bhd, which is collaborating with Rinani Dynamic Sdn Bhd to distribute an oral-based (tablet) Covid-19 vaccine developed by Vaxart Inc in Malaysia, said phase one of the clinical trial has achieved a positive response. Vaxart is an American biotechnology company, developing a range of oral recombinant vaccines based on its proprietary delivery platform listed on the Nasdaq Stock Market.
Chin Hin Group Property Bhd plans to spend RM268 million to acquire 81.9 acres of land in the Klang Valley to develop five different property projects, and aims to launch projects worth RM3.73 billion in gross development value in the next two years.
The property developer intends to expand its portfolio of developments to various growth corridors in the Klang Valley such as Serendah, Bandar Kinrara, Bangsar South and Cyberjaya. The types of developments proposed include townships, service apartments, mixed-use and offices.
Tomei Consolidated Bhd’s net profit jumped by more than four-folds to RM11.67 million or 8.42 sen per share in the fourth quarter ended Dec 31, 2020, from RM2.68 million or 1.93 sen per share a year ago, thanks to lower expenses. Quarterly revenue increased 23% to RM167.84 million, from RM136.51 million previously, on higher sales volume and selling price. For the full year ended Dec 31, 2020, Tomei saw its net profit surge 257% to RM31.17 million, from RM8.74 million in the previous year, while revenue rose slightly by 3.4% to RM552.4 million from RM534.07 million.
Loss-making XOX Bhd has proposed to buy a 29.43% stake in sports apparel retailer Cheetah Holdings Bhd from Chia Yoon Yuen Holdings Sdn Bhd for RM44.62 million in cash. XOX said the purchase of the 33.8 million shares at RM1.32 per share would represent a premium of 37.03% to the five-day volume weighted average market price of Cheetah’s shares up to Feb 3 of 96.33 sen.
AwanBiru Technology Bhd (AwanTec) is selling an eight-storey office building at Star Central @ Cyberjaya, together with attached fixtures and fittings, to Serba Dinamik Group Bhd for RM24.2 million. The disposal, however, is expected to result in a loss on disposal of RM680,000. The disposal is part of its rationalisation plan to divest its non-core assets to improve its financial position and cashflow.
Malayan Banking Bhd (Maybank) is expecting about 1.7 million e-Angpao transactions worth over RM60 million to be conducted by customers during the Chinese New Year festive season this year.
Datuk Sri Nazir Razak has been appointed as the non-executive independent chairman of PLS Plantations Bhd with effect from Feb 10. Nazir will assume the post from the group's current chairman Tan Sri Datuk Lim Kang Hoo, who will be redesignated as executive vice chairman of PLS.
QL Resources Bhd has received valid acceptances for 4.88 million of Boilermech Holdings Bhd’s shares as at closing of its takeover offer today, bringing its equity interest in the latter to 258.99 million shares or a 50.19% stake.