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Nestle, Globaltec, Y&G Corp, Econpile, Freight Management, Sime Darby Plantation, Hock Seng Lee, KPower, Widetech, Sarawak Plantation, Leong Hup International, Suncon, Genetec, AAX, Heineken, UOA REIT, Sarawak Cable, EKA Noodles, InNature, BJToto and M3 T

Nestle, Globaltec, Y&G Corp, Econpile, Freight Management, Sime Darby Plantation, Hock Seng Lee, KPower, Widetech, Sarawak Plantation, Leong Hup International, Suncon, Genetec, AAX, Heineken, UOA REIT, Sarawak Cable, EKA Noodles, InNature, BJToto and M3 Technologies

KUALA LUMPUR (May 20) : Based on corporate announcements and news flow today, companies that may be in focus tomorrow (May 21) include Nestle (M) Bhd, Globaltec Formation Bhd, Y&G Corp Bhd, Econpile Holdings Bhd, Freight Management Holdings Bhd, Sime Darby Plantation Bhd, Hock Seng Lee Bhd, KPower Bhd, Widetech (Malaysia) Bhd, Sarawak Plantation Bhd, Leong Hup International Bhd, Sunway Construction Group Bhd, Genetec Technology Bhd, AirAsia X Bhd, Heineken Malaysia Bhd, UOA REIT, Sarawak Cable Bhd, EKA Noodles Bhd, InNature Bhd, Berjaya Sports Toto Bhd and M3 Technologies (Asia) Bhd.

Nestlé (M) Bhd has moved its corporate headquarters to 1 Powerhouse, Bandar Utama from Surian Tower in Mutiara Damansara. The move is aligned with the group's ongoing efforts to embrace the future of work through a purposeful workplace design following the Covid-19 pandemic.

Globaltec Formation Bhd said its Australia-listed subsidiary NuEnergy Gas Ltd is expected to obtain approval from the Indonesian government to develop its Tanjung Enim block in South Sumatera. The approval is expected to be granted on June 17.

Y&G Corp Bhd has been slapped with an unusual market activity query by Bursa Malaysia, after its share price hit limit up again today. In these past few days, Y&G’s share price has climbed 168% from 56 sen last Wednesday.

Econpile Holdings Bhd said it has received a piling and foundation works award for a service apartment project along Jalan Raja Chulan, Kuala Lumpur for RM64.25 million. The job was awarded by GDP Architects Sdn Bhd on behalf of Armani Hartajaya Sdn Bhd.

Freight Management Holdings Bhd’s net profit for the third quarter ended March 31, 2021 soared 199% to RM6.05 million from RM2.03 million a year earlier, mainly due to improved performance of its Malaysian and overseas operations. Quarterly revenue climbed 57.55% to RM215.79 million from RM136.97 million due to higher freight rates and an improvement in business activities.

Sime Darby Plantation Bhd's net profit for the first quarter ended March 31, 2021 rose 20.09% to RM562 million, from RM468 million a year ago, largely on the back of a better upstream segment performance in Indonesia, Papua New Guinea and the Solomon Islands. Quarterly revenue rose 20.66% to RM3.67 billion from RM3.04 billion.

Hock Seng Lee Bhd’s (HSL) net profit for the first quarter ended March 31, 2021 rose 20.38% to RM9.09 million from RM7.55 million a year ago, underpinned mainly by the construction segment. The group’s revenue grew 41.91% to RM159.5 million from RM112.4 million.

KPower Bhd's third quarter net profit jumped about fivefold to RM14.15 million from RM2.67 million a year earlier, partly helped by a significant increase in the group’s construction-related activities. The group said revenue surged to RM137.66 million in the third quarter ended March 31, 2021, from RM31.68 million.

Widetech (Malaysia) Bhd has been slapped with an unusual market activity query by Bursa Malaysia on the sharp rise in its share price and volume today. Widetech shares have gained 420% year to date from a mere 60 sen apiece in January.

Sarawak Plantation Bhd saw its net profit for the first quarter ended March 31, 2021 surge 308% to RM23.75 million from RM5.82 million a year ago, on increased operating profit and gain arising from changes in fair value of biological assets of RM12.1 million for the current quarter. Quarterly revenue rose 47% to RM145.53 million compared with RM98.88 million a year ago on higher realised average selling price of crude palm oil and palm kernel.

Leong Hup International Bhd booked a fresh record quarterly net profit of RM70.33 million for the first quarter ended March 31, 2021 (1QFY21), more than three times the RM21.79 million reported a year earlier, as revenue grew 16.9% to RM1.68 billion on higher income from the sale of livestock and poultry-related products besides livestock feed. Its previous record was set in 1QFY19 when it achieved RM60.58 million in net profit.

Sunway Construction Group Bhd's (SunCon) net profit for the first quarter ended March 31, 2021 rose 23.8% to RM20.24 million from RM16.35 million a year ago, underpinned by higher construction revenue and improved blended margin due to its precast segment. Revenue grew 24.43% to RM455.2 million from RM365.83 million.

Genetec Technology Bhd has secured RM41.2 million in new orders from existing customers. The group said RM35.3 million of the orders come from electric vehicle and battery players, and RM5.9 million from hard disk drive, electronics and semiconductor players.

AirAsia X Bhd (AAX), the low-cost long-haul affiliate of AirAsia Group Bhd, posted its largest quarterly net loss of RM5.67 billion for the quarter ended March 31, 2021 as revenue shrank 29.6% quarter-on-quarter to RM38.49 million as the majority of its aircraft fleet remained grounded since mid-April last year amid Covid-19, apart from a limited number of cargo and charter flights. The bigger net loss was mainly dragged by its other operating expenses, which amounted to RM5.21 billion, versus RM45.06 million in the preceding quarter.

Heineken Malaysia Bhd achieved 29% growth in net profit to RM73.53 million for the first quarter ended March 31, 2021, versus RM56.96 million a year ago. Revenue rose 6.17% to RM547.738 million from RM515.887 million, due to the gradual adaptation by businesses and consumers to the new normal, easing of restrictions in March 2021, and effective execution of various campaigns.

UOA Real Estate Investment Trust's (UOA REIT) net rental income for the first quarter ended March 31, 2021 surged 60% to RM22.69 million from RM14.51 million a year earlier, due to higher gross rental. The commercial REIT said its quarterly revenue rose 49% to RM29.6 million from RM19.91 million on the back of higher interest and other incomes.

Sarawak Cable Bhd is selling a helicopter for RM35.18 million to partially pay off its debts. Following the disposal, the group's borrowings would decline to RM501.12 million from RM534.21 million as of Dec 31, 2019.

Trading of shares in rice and sago sticks manufacturer Eka Noodles Bhd will be suspended from May 31, after Bursa Malaysia Securities rejected its application for a further extension of time to submit its revised proposed regularisation plan.

InNature Bhd, the retailer and distributor of The Body Shop and Natura products, saw its net profit for the first quarter ended March 31, 2021 jump 85.34% to RM5.09 million from RM2.75 million in the corresponding financial quarter a year ago.

Berjaya Sports Toto Bhd’s (BToto) net profit for the third quarter ended March 31, 2021 plunged 61.6% to RM18.68 million from RM48.61 million a year ago, dragged by its subsidiary Sports Toto Malaysia Sdn Bhd, but was partly mitigated by better performance achieved by its UK luxury auto retailing business H.R. Owen Plc. Quarterly revenue fell 15.83% to RM1.12 billion from RM1.33 billion previously.

M3 Technologies (Asia) Bhd said two shareholders have filed a lawsuit to stop the mobile services provider from undertaking an employees share option scheme (ESOS) or any other corporate exercise that will serve to dilute their shareholding. The two substantial shareholders are Lim Seng Boon, who stepped down as the group's managing director three months ago, and Voon Sze Lin. They have a combined shareholding of 13.5% in M3 Tech, with Lim controlling a 7.4% stake and Voon holding a 6.15% stake.

https://www.theedgemarkets.com/article/nestle-globaltec-yg-corp-econpile-freight-management-sime-darby-plantation-hock-seng-lee

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