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Eco World, Gas Malaysia, SKP Resources, Allianz Malaysia, SCIB, LYC Healthcare, Vizione, Cahya Mata, Scomi Energy and Sapura Energy

KUALA LUMPUR (March 17): Here is a brief look at some corporate announcements and news flow on Thursday (March 17) which involve Eco World Development Group Bhd, Gas Malaysia Bhd, SKP Resources Bhd, Allianz Malaysia Bhd, Sarawak Consolidated Industries Bhd, LYC Healthcare Bhd, Vizione Holdings Bhd, Cahya Mata Sarawak Bhd, Scomi Energy Services Bhd and Sapura Energy Bhd.

Eco World Development Group Bhd's (EcoWorld) net profit in the first quarter ended Jan 31, 2022 (1QFY22) rose a marginal 1.49% year-on-year to RM63.36 million from RM62.43 million on the back of RM1.28 billion in sales. The property developer’s quarterly revenue climbed 5.14% to RM533.42 million from RM507.35 million, thanks to cost savings on completed and near completion phases. Compared with the immediate past quarter, the group’s net profit rose 47.92% from RM42.84 million in 4QFY21, while revenue fell 19.91% from RM666.05 million.

Gas Malaysia Bhd has declared a final dividend of 6.87 sen per share for its financial year ended Dec 31, 2021 (FY21). The dividend, amounting to RM88.21 million, with an ex-date of June 30, will be paid on July 27.

Electronics manufacturing services (EMS) provider SKP Resources Bhd has appointed TÜV Rheinland Malaysia Sdn Bhd to conduct an independent third-party social compliance audit of its labour practices and operations. The audit will begin in April 2022 and is expected to be completed within two months, said the group.

Allianz Malaysia Bhd has appointed Anusha Thavarajah, the regional chief executive officer (CEO) for Allianz Asia Pacific, as the group's non-independent and non-executive director, effective Thursday.

Sarawak Consolidated Industries Bhd (SCIB) has appointed Shamsul Anuar Ahamad Ibrahim, Ku Chong Hong and Noor Azri Azerai as independent directors on its board.

Noor Azri, 23, is currently an executive director (ED) in Bintai Kinden Corp Bhd and Malaysian Genomics Resource Centre Bhd (MGRC), as well as an independent non-executive director in Serba Dinamik Holdings Bhd and NWP Holdings Bhd. Ku, 33, is also an ED at Bintai Kinden, and sits on the boards of MGRC and NWP as an independent non-executive director. As for Shamsul Anuar, 59, he is currently serving as group corporate affairs, general manager of Permodalan ASSAR Sdn Bhd, the holding company of Amanah Saham Sarawak Bhd.

Healthcare service provider LYC Healthcare Bhd has incorporated a wholly-owned subsidiary known as LYC Beauty & Wellness Sdn Bhd, which will offer cosmetics, personal care and wellness related products and services.

Construction and property development firm Vizione Holdings Bhd and China's Hubei Wuqiao Geotechnical Engineering Co Ltd (HWGE) plan to explore building materials trading and dealership opportunities in Malaysia. Vizione said it has entered into a Memorandum of Understanding (MoU) with HWGE to explore cooperation in the potential venture.

Diversified group Cahya Mata Sarawak Bhd (CMS) is venturing into the energy sector via the acquisition of Scomi Energy Services Bhd’s oilfield operations for RM21 million. CMS said it has, through two of its subsidiaries Cahya Mata Oiltools Sdn Bhd and Oiltools International Sdn Bhd, entered into four conditional sale and purchase agreements with Scomi Energy to acquire Scomi Oilfield Ltd together with various companies and assets within the Scomi Oilfield Group of Companies.

Sapura Energy Bhd said three more of its subsidiaries have been served with winding-up petitions on March 7 and 9, due to non-payment of outstanding sums. It said Sapura Fabrication Sdn Bhd (SFSB) was served with a winding-up petition taken out by Posh Subsea Pte Ltd, due to the former being unable to pay according to a payment plan for US$3.99 million (RM16.76 million) plus interest.

Sapura Offshore Sdn Bhd (SOSB) was served with a petition by Lincoln Energy Sdn Bhd on the basis of non-payment of invoices of RM150,150, allegedly owing under a contract for the provisions of goods sold and delivered. The subsidiary was also served with another winding-up petition by Semco Salvage (V) Pte Ltd in relation to sums due under a contract of Bargehire 2008 Standard Barge Charter Party, under which SOSB was required to pay the outstanding sum of US$443,035 (RM1.86 million).

Meanwhile, Sapura Project Services Sdn Bhd (SPSSB) was served with a winding-up petition by Danamin (M) Sdn Bhd for the sum of RM4.24 million under a construction contract for the provisions of mechanical works.


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