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Serba Dinamik, ATA IMS, Dialog, Censof, MAHB, Allianz Malaysia, JHM Consolidation, TH Plantations, China Automobile, Ipmuda, Advance Information Marketing and Kamdar

KUALA LUMPUR (Dec 15): Based on corporate announcements and news flow on Wednesday (Dec 15), companies in focus on Thursday (Dec 16) may include: Serba Dinamik Holdings Bhd, ATA IMS Bhd, Dialog Group Bhd, Censof Holdings Bhd, Malaysia Airports Holdings Bhd, Allianz Malaysia Bhd, JHM Consolidation Bhd, TH Plantations Bhd, China Automobile Parts Holdings Ltd, Ipmuda Bhd, Advance Information Marketing Bhd and Kamdar Bhd.

Serba Dinamik Holdings Bhd has confirmed that it has defaulted on its US$222.22 million (RM939.77 million) sukuk, and said the incident may significantly impact the group’s financial performance. Responding to queries by Bursa Malaysia, the group said the default also means the sukuk holders have the right to seek immediate payment for 25% of the outstanding amount of the Islamic bond, which was supposed to mature in May 2022. The group however said it "will be in close communications with its financiers to minimise any financial impact that may arise from the default".

ATA IMS Bhd said the four summonses the group received in October from the Johor Bahru Labour Department were not related to allegations of forced labour that the company faced amid the impending termination of its contract by major client Dyson. The group said the four summonses were issued to its wholly-owned ATA Industrial (M) Sdn Bhd for having temporarily accommodated nine workers in houses of a residential area that did not have the Certificate of Accommodation.

Dialog Group Bhd has bagged an RM360 million contract from Petronas Gas Bhd for the Southern Transmission Improvement and Readiness (STAR) project in Johor. It said the scope of work of the project involves the engineering, procurement, construction and commissioning of a new booster compressor station with associated equipment and facilities at Mengkibol, Kluang.

Censof Holdings Bhd has secured an iPayment contract worth RM13.45 million from the Accountant General's Department. The group said it is of the opinion that the contract will contribute positively to its earnings.

Malaysia Airports Holdings Bhd’s (MAHB) network of airports in Malaysia recorded a total of 2.3 million passenger movements in November 2021, surpassing the two-million mark for the first time since the onset of the Covid-19 in April last year. Managing director Datuk Iskandar Mizal Mahmood said the 77% increase from the 1.3 million recorded in October was mainly contributed by domestic passenger movements, which continued to improve since the easing of interstate travel restrictions.

Allianz Malaysia Bhd has appointed Sean Wang Wee Keong as its new CEO and executive director with effect from Jan 1. Wang will be replacing current CEO Zakri Mohd Khir, who will be retiring on Dec 31. Zakri will however continue to serve the group as a non-independent and non-executive director.

JHM Consolidation Bhd plans to raise RM92 million via a private placement for the construction of its new manufacturing facility at the Batu Kawan Industrial Park in mainland Penang. Under the exercise, up to 55.76 million new shares, representing 10% of JHM’s 557.6 million issued shares, will be issued to independent third party investors to be identified later

TH Plantations Bhd said Tamaco Plantation Sdn Bhd has withdrawn its lawsuit against the group over its decision not to proceed with the proposed disposal of two plantation units for RM170 million. TH Plantations said Sabah-based Tamaco on Dec 10 withdrew the suit to compel TH Plantation to complete the sale of Bumi Suria Ventures Sdn Bhd and Maju Warisanmas Sdn Bhd, which was proposed in December 2019.

Bursa Malaysia Securities has commenced de-listing procedures against China Automobile Parts Holdings Ltd (CAP) after the company failed to issue annual reports for the financial year ended June 30, 2017 (FY17) until FY20. It noted that CAP had failed to demonstrate expeditious steps taken towards the finalisation of the outstanding financial statements, although it had adequate time and opportunity to submit the statements. Meanwhile, CAP said it will be submitting an appeal to Bursa Securities in due course.

Ipmuda Bhd, which will soon change its name to Jentayu Sustainables Bhd, said it has received the Sabah government’s approval for its proposal to develop two hydro plants in Sipitang with total capacity of 160 megawatts. Ipmuda said the State government gave the greenlight to the group for “exclusive water and land rights to develop run-of-river hydroelectric cascading schemes” in Sungai Maligan and Ulu Padas, Sipitang, with installed capacity of 31mw and 129mw respectively.

Business process outsourcing solutions provider Advance Information Marketing Bhd (AIM) said employee fraud and control deficiencies have been found at its wholly-owned Indonesian unit, PT CLS System, based in Jakarta. AIM said the subsequent findings of an internal audit further confirmed the employee fraud, and that PT CLS has lodged a police report over the issue. AIM has also appointed BDO Consulting Sdn Bhd as forensic auditor to carry out an independent forensics audit.

Kamdar Bhd is disposing of a property in Bayan Lepas, Penang for RM12.3 million to repay its bank borrowings. The group said it is selling the land with a four-storey detached factory on it to GSH Precision Technology Sdn Bhd.


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