MyNews, Panasonic, Omesti, Bermaz Auto, Bintai Kinden, Sime Darby Plantation, Top Glove, Media Prima, Astro, SHH Resources and AMMB
KUALA LUMPUR (April 1) : Based on corporate announcements and news flow today, companies in focus on Friday (April 2) may include: MyNews Holdings Bhd, Panasonic Manufacturing Malaysia Bhd, Omesti Bhd, Bermaz Auto Bhd, Bintai Kinden Corporation Bhd, Sime Darby Plantation Bhd, Top Glove Corp Bhd, Media Prima Bhd, Astro Malaysia Holdings Bhd, SHH Resources Holdings Bhd and AMMB Holdings Bhd.
MyNews Holdings Bhd will be allocating a higher capital expenditure (capex) of RM50 million for the opening of all its operating four brands, namely myNEWS, myNEWS SUPERVALUE, WHSmith and CU. The company had its first CU outlet opened today. According to MyNews CEO Dang Tai Luk, MyNews will be opening 500 CU stores in the next five years.
Panasonic Manufacturing Malaysia Bhd announced the appointment of Kenji Kamada to the position of managing director, effective immediately. Panasonic said Kamada, 56, succeeded Toyokatsu Okamoto, who resigned from the post consequent to retirement from the executive position.
Omesti Bhd has acquired a total of 4.94 million shares in Microlink Solutions Bhd from the open market for RM9.71 million, or an average RM1.97 per share. Omesti said its wholly-owned Omesti Holdings Bhd (OHB) had, between Sept 2, 2020 and March 31, 2021, acquired the shares, which represented 2.05% of Microlink's total number of issued shares. Following the acquisitions, Omesti now controls 124.91 million Microlink shares, representing a 51.77% equity interest in the company, via OHB.
Bermaz Auto Bhd (BAuto) is partnering with Kia Motors Corp to undertake manufacturing and distributing Kia vehicles in Malaysia. The two parties are forming a JV company named Kia Malaysia Sdn Bhd to undertake the assembly of complete knock-down Kia vehicles here whereby BAuto will own 33.33% with the remainder to be held by Kia Corp.
Chan Kok San has emerged as a substantial shareholder of Bintai Kinden Corporation Bhd via the acquisition of a 6.55% stake in the engineering service group. The stake, comprising 25 million shares, was acquired at 50 sen per share in an off-market transaction today, the group said in a statement. Bintai Kinden said Chan has more than 18 years of experience in the electrical and electronics industry, concentrating on specialised automation machines.
Fitch Ratings has revised the outlook on Sime Darby Plantation Bhd to stable from negative, and affirmed the Long-Term Foreign-Currency Issuer Default Rating at "BBB". Meanwhile, SDP's senior unsecured rating, the rating of its sukuk programme and outstanding issuance under the programme have been affirmed at "BBB".
Top Glove Corporation Bhd said following the recent findings against the group by the US Customs and Border Protection, no new additional issue on forced labour has been discovered. However, some "rectification and verification works" are required on the earlier forced labour findings, the group said in a statement.
Media Prima Bhd’s distribution agreement with iQIYI will not impact the latter's deal with Astro Malaysia Bhd. Media Prima announced its deal with iQIYI on March 23, where iQIYI signed on to provide an exclusive first window broadcasting rights to the majority of Media Prima-owned TV3's locally produced and highest-rated primetime dramas. iQIYI is a Baidu-backed streaming platform in China.
Astro Malaysia Bhd is hoping to grow its number of sports subscribers further, which currently make up a third of its total subscriber base, according to its commercial director Azlin Arshad. The pay-TV operator is anticipating its number of sports package holders to grow with the increasing number of people using its Ultra Box now.
SHH Resources Holdings Bhd has proposed a bonus issue of about 50 million shares on the basis of one new share for every one existing share held on a date to be announced later. The furniture maker said its share capital will increase to about 100 million shares following the issuance from roughly 50 million shares now.
AMMB Holdings Bhd has proposed a private placement to raise an estimated RM810 million. The group said it plans to issue up to 300 million new shares or 9.97% of its current share capital to raise additional funds to strengthen its core capital ratios, including Common Equity Tier 1 and Total Capital Ratio.