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Serba Dinamik, Sunway, Seni Jaya, AirAsia Group, Kawan Food and Yong Tai

KUALA LUMPUR (July 7): Based on corporate announcements and newsflow today, companies in focus tomorrow could include Serba Dinamik Holdings Bhd, Sunway Bhd, Seni Jaya Corp Bhd, AirAsia Group Bhd, Kawan Food Bhd and Yong Tai Bhd.

Serba Dinamik Holdings Bhd has appointed a former Bursa Malaysia Bhd official and a retired senior police officer as independent non-executive directors.

The oil and gas services provider said Siti Zaleha Sulaiman, the former head of corporate risk management of the stock exchange operator, has joined the group’s board effective today (July 7).

Joining Zaleha is the former Special Branch director Datuk Seri Mohamed Farid Abu Hassan.

Sunway Property — the property arm of Sunway Bhd — announced an upward revision of its property sales target to RM2.2 billion from its previously set target of RM1.6 billion in January 2021, following higher contribution from its overseas projects.

In Singapore, the developer recorded sales in excess of RM1 billion mainly attributable to the successful launches of Ki Residences — a private condominium in Clementi, and Parc Central — an executive condominium in Tampines. According to a statement, the projects recorded take-up rates of 55% and 80%, respectively.

In Malaysia, the developer has brought forward the launch of Sunway Belfield’s second tower, which has a gross development value of RM360 million, due to strong interest. The project’s first tower, which has a GDV of RM330 million, is almost fully sold since its launch in January this year. According to the statement, the overall take-up rate for both towers at Sunway Belfield is 75%.

Seni Jaya Corp Bhd has proposed to undertake a private placement of up to 20% of its total number of issued shares to raise RM18.11 million for business expansion.

The outdoor advertising services provider said in a bourse filing that 8.11 million new shares will be issued pursuant to the private placement, to third party investors to be identified later at an issue price to be determined later.

Based on the indicative issue price of RM2.23 per placement share, the exercise is expected to raise gross proceeds of RM18.11 million.

AirAsia Group Bhd said its digital unit AirAsia Digital has acquired Gojek’s operations in Thailand, and that it plans to launch its super app in early August.

AirAsia Group CEO Tan Sri Tony Fernandes said the “win-win” all-share deal worth US$50 million sets both parties with a strong foundation to explore additional avenues for collaboration in ASEAN.

Fernandes added that Gojek’s investment is valued at US$40 million while GoPay’s is at US$10 million, and these will be transferred into shares for the AirAsia Super App, which is valued at US$1 billion.

Kawan Food Bhd has invested RM7.28 million in a solar photovoltaic installation at its headquarters in Pulau Indah Selangor Halal Hub.

The group said the amount covers an energy performance management system developed by Plus Xnergy Holdings Sdn Bhd called SOURCE that uses the artificial intelligence of things.

According to Kawan Food senior factory manager Andy Yeap, one of the company's key moves is to invest in a solar solution, which was recently completed in the first quarter of this year, with projected savings worth RM1 million annually.

Yong Tai Bhd, which has partnered China-based Shenzhen Kangtai Biological Products Co Ltd (SZKT) to supply Chinese-produced Covid-19 vaccines in Malaysia, is targeting to offer its vaccines to the private sector by September or October.

Yong Tai CEO Boo Kuang Loon said the group, which has an agreement with SZKT to supply 10 million doses per year with an additional option of 10 million if required, has commenced its trial vaccination.

"We are currently conducting the Phase III Clinical Trial in Malaysia and have made an application to the National Pharmaceutical Regulatory Agency for approval to use the vaccines here. If everything goes smooth, we aim to obtain the approval by September or October," he told Xinhua in a recent written interview.

https://www.theedgemarkets.com/article/serba-dinamik-sunway-seni-jaya-airasia-group-kawan-food-and-yong-tai

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