TM, Eco World, Eco World International, VS Industry, Lotte Chemical, AAX, KNM, Taliworks, Samaiden, Lion Industries, Country Heights, Inta Bina and Signature International

TM, Eco World, Eco World International, VS Industry, Lotte Chemical, AAX, KNM, Taliworks, Samaiden, Lion Industries, Country Heights, Inta Bina and Signature International

KUALA LUMPUR (Dec 16): Based on corporate announcements and news flow on Thursday, companies in focus on Friday (Dec 17) may include: Telekom Malaysia Bhd, Eco World Development Bhd, Eco World International Bhd, VS Industry Bhd, Lotte Chemical Titan Holding Bhd, AirAsia X Bhd, KNM Group Bhd, Taliworks Corp Bhd, Samaiden Group Bhd, Lion Industries Corp Bhd, Country Heights Holdings Bhd, Inta Bina Group Bhd and Signature International Bhd.

Telekom Malaysia Bhd (TM) has signed a 10-year fibre leasing service agreement with Digital Nasional Bhd worth RM2 billion to speed up the deployment of the government-owned 5G network nationwide. Under the agreement, TM will provide the services to enable DNB’s 5G infrastructure needs in supporting the government’s aspiration to speed up 5G rollout in Malaysia.  

Eco World Development Bhd’s net profit dropped 42.72% to RM42.84 million for the fourth quarter ended Oct 31, 2021 (4QFY21) from RM72.27 million a year ago, on lower contribution from its Malaysian joint ventures and its international arm) Eco World International Bhd (EWI) due to the lockdown. Quarterly revenue was up by 4.81% to RM666.05 million from RM635.47 million previously, thanks to higher sales of products. Compared with the immediate preceding quarter (3QFY21), EcoWorld’s net profit was 21.88% higher compared with RM35.15 million on the back of higher revenue and gross profit, as revenue climbed 48.37% from RM448.91 million.

Meanwhile, EWI sank into the red with a net loss of RM56.26 million, versus a net profit of RM17.44 million in 4QFY20. This was mainly due to share of losses in joint ventures, and higher finance cost following cessation of capitalisation of finance cost on general borrowings in tandem with the handover of apartment units in Yarra One in Melbourne. Quarterly revenue dropped 39.45% to RM34.75 million from RM57.38 million.  

Electronics manufacturing service group VS Industry Bhd reported a net profit of RM39.39 million for the first quarter ended Oct 31, 2021 (1QFY22), a decline of 40.9% from RM66.68 million a year prior. Earnings per share for the quarter also declined to 1.03 sen from 1.78 sen last year. Revenue slid 2% to RM967.99 million from RM987.1 million. The group declared a first interim dividend of 0.4 sen per share.

Lotte Chemical Titan Holding Bhd said it has obtained its shareholders’ approval to award engineering, procurement and construction (EPC) works for the downstream plants and complex facilities of the LOTTE Chemical Indonesia New Ethylene (LINE) project to Korea-based related party LOTTE Engineering & Construction Co Ltd (LEC). The company said the proposed EPC works to be undertaken by LEC is estimated to cost US$1.65 billion (RM6.8 billion).

AirAsia X Bhd (AAX)’s plan to restructure its debts totalling RM33.65 billion is set to be implemented after receiving court sanction. The sanction was granted by Judicial Commissioner Ong Chee Kwan in the High Court on Thursday after hearing submissions on the matter on Tuesday. AAX said the proposed debt restructuring will take effect upon lodgement of the sanction order with the Registrar of Companies of Malaysia.

KNM Group Bhd said the Asian Development Bank’s trust fund, Credit Guarantee and Investment Facility (CGIF), has made repayment on behalf of the group to its bondholders in Thailand. KNM said it has received a reimbursement demand notice from CGIF via email on Wednesday, after the latter made the repayment to the bondholders. KNM said it “will enter into bilateral negotiations with CGIF in order to satisfy the reimbursement demand in a timely manner.”

Taliworks Corp Bhd has won a contract from Pengurusan Air Selangor Sdn Bhd to develop a package under Phase 1 of the Sungai Rasau water treatment plant for RM602.43 million. The contract is to design and build a water pumping station, and water pumping mains to the existing Bukit Lipat Kajang reservoirs, distribution and associated works (Package 2).

Samaiden Group Bhd has secured an engineering, procurement, construction and commissioning contract worth RM98.15 million to develop a 39MWp rooftop solar photovoltaic system at six identified sites in Johor. The contract was awarded by Ramatex Textiles Industrial Sdn Bhd.

Lion Industries Corp Bhd said it is acquiring a direct reduced iron (DRI) plant in Banting, Selangor for US$9 million (RM38.07 million) to supplement its existing steel operations. In the related party transaction, Lion Industries’ 99%-owned subsidiary Amsteel Mills Sdn Bhd is buying the plant from Lion DRI Sdn Bhd.

Country Heights Holdings Bhd has acquired an auctioned property — a 10-storey tower together with five levels of elevated car park podium — in Seri Kembangan, Selangor for RM60 million. It entered into a memorandum of the contract with the licensed auctioneer pursuant to the successful bid to acquire the property from Mines Resort Sdn Bhd.

Inta Bina Group Bhd has bagged an RM67.73 million contract from Gamuda Bhd. The contract is for the construction of 203 units of terrace houses for phase 1C-1 of Gamuda’s township in southern Klang Valley, Gamuda Cove.

Kitchen cabinet manufacturer Signature International Bhd is buying a 51% stake in a renovation company for RM15.3 million. The group said it is acquiring the stake in Space Alliance Contracts Sdn Bhd to tap into the renovation industry.

https://www.theedgemarkets.com/article/tm-eco-world-eco-world-international-vs-industry-lotte-chemical-aax-knm-taliworks-samaiden