KUALA LUMPUR (Sept 10): Based on corporate announcements and news flow today, companies in focus on Monday (Sept 13) may include CIMB Group Holdings Bhd, Top Glove Corp Bhd, Kerjaya Prospek Group Bhd, SLP Resources Bhd, Sarawak Consolidated Industries Bhd, Ibraco Bhd, Bintai Kinden Corp Bhd, Malaysia Airports Holdings Bhd, Greatech Technology Bhd, Globaltec Formation Bhd, Hextar Global Bhd, AT Systematization Bhd, Fintec Global Bhd, LYC Healthcare Bhd, Vsolar Group Bhd, Meridian Bhd and Symphony Life Bhd.
Khazanah Nasional Bhd has successfully completed a placement of 138.4 million shares in CIMB Group Holdings Bhd at RM4.80 per share, raising gross proceeds of RM664.5 million. The placement price represents a 2.8% discount to CIMB Group's closing market price of RM4.94 on Sept 8.
Top Glove Corp Bhd has been cleared and is now allowed to resume exporting and selling gloves to the US after the US Customs and Border Protection (CBP) lifted its ban against disposable gloves made by the world's largest medical glove manufacturer, effective today. The CBP affirmed that based upon additional information, products by Top Glove are no longer in violation of its laws. The US previously had banned disposable gloves made by Top Glove since July 2020, saying in March it had sufficient information to determine labour abuses at the company.
Kerjaya Prospek Group Bhd has secured a contract worth RM126.1 million from UEM Sunrise Bhd to undertake building works for a proposed residential development project located in Bandar Putra Permai, Petaling. The contract covers the construction of two blocks of apartment with a seven-storey podium consisting a six-storey car park and one level of common area and facilities.
SLP Resources Bhd has temporarily halted its plant operations in Kulim, Kedah — from Sept 9 to 16 — after positive Covid-19 cases were detected among its production workers. The plastic packaging product manufacturer said it received a notice from the Ministry of Health to close its Kulim plant operations for thorough disinfection work. SLP Resources anticipated that sales and production of the group will be impacted by the temporary closure in the current quarter.
Sarawak Consolidated Industries Bhd (SCIB) has clinched an engineering, procurement, construction and commissioning contract worth RM16.28 million from Satria Kasturi (M) Sdn Bhd. The group said the contract spans 96 weeks from October 2021 to August 2023 and it entails the development of a solid waste transfer station in Pontian, Johor.
Ibraco Bhd has proposed to undertake a private placement of up to 10% of its issued shares to raise up to RM23.33 million to part finance an existing property development project. A maximum number of 49.64 million new shares will be placed out to third party investors at an issue price to be determined later. However, based on an illustrative issue price of 47 sen per placement share, the exercise is expected to raise gross proceeds of up to RM23.33 million.
Bintai Kinden Corp Bhd has clarified that its unit Bintai Healthcare Sdn Bhd and NGT Solutions (M) Sdn Bhd are not appointed as Duopharma Biotech Bhd's distributor for the distribution of Sinopharm's COVILO Covid-19 vaccine. The mechanical and electrical engineering services provider said NGT Solutions is an appointed healthcare organiser by Duopharma in relation to the COVILO vaccine.
Malaysia Airports Holdings Bhd's (MAHB) Istanbul Sabiha Gokcen International Airport in Turkey has implemented a new passenger flow management system to heighten passenger safety and operational efficiency. The airport operator said the system, known as Xovis PTS, is part of the group-wide Airports 4.0 digital initiative aimed at improving travelling experience at airports within the new norms.
Greatech Technology Bhd is buying a plot of leasehold land worth RM16.8 million in Penang as part of its capacity expansion plan. The purchase is being undertaken via its wholly owned Greatech Integration (M) Sdn Bhd, who inked a sale and purchase agreement today with Penang Development Corp. The land, which is presently vested in the State Authority of Penang, measures about 7.01 acres and located in Batu Kawan Industrial Park.
Globaltec Formation Bhd, which made a record high net profit for its financial year ended June 30, 2021 (FY21), today declared its first ever dividend of three sen per share. The integrated manufacturing services solutions provider reported an annual net profit of RM20.4 million for FY21 — about nine times the RM2.35 million it made in FY20 — despite revenue slipping to RM161.12 million from RM163.82 million. Quarter-on-quarter, its net profit improved from a net loss of RM1.37 million, while revenue fell 31% from RM43.3 million.
Hextar Global Bhd has secured RM45 million additional Islamic financing facility from Al-Rajhi Banking and Investment Corp (Malaysia) Bhd. The group said the additional facility in the form of Structured Commodity Financing-i would be utilised as the capital requirement of its shariah-compliant business.
AT Systematization Bhd, which recently called off its offer to take over Asdion Bhd, has now proposed to acquire 25.93% in component and packaging manufacturer D'Nonce Technology Bhd for RM64.96 million cash. It plans to acquire the 81.2 million D'Nonce shares at 80 sen per share, a premium of 27 sen or 50.94% to the counter's last close. Shares of D'Nonce has never exceeded 65 sen since its listing in 2006.
Fintec Global Bhd, which just made its third placement in less than two years to raise funds to build its glove factory in Perak, has bought into loss-making NetX Holdings Bhd. The group emerged as NetX's substantial shareholder via its wholly-owned Fintec Global Ltd after the latter acquired 53.15 million shares or a 6.36% stake in the group from the open market, between Aug 26 and Sept 9.
LYC Healthcare Bhd, the information technology-turned-healthcare group, has formed a new subsidiary to be used as a vehicle to explore data centre related projects in Malaysia. Known as Juniper DC Sdn Bhd, the subsidiary will provide infrastructure for hosting, data processing services and related activities, data processing activities, and research and development on information and communications technology.
Vsolar Group Bhd, which undertook share placements and rights issue to raise fresh capital for the renewable energy business, has spent RM15.17 million to buy minor stakes in two property development companies — Meridian Bhd and Symphony Life Bhd that was recently embroiled in a boardroom tussle after the change of major shareholders. The group said the share purchases were funded entirely by internally generated funds of Vsolar and its subsidiaries.