IHH Healthcare, Capital A, Supermax, Unisem, United Malacca, MAHB, Wah Seong, Hong Seng, KAB, Encorp and Scomi Energy

IHH Healthcare, Capital A, Supermax, Unisem, United Malacca, MAHB, Wah Seong, Hong Seng, KAB, Encorp and Scomi Energy

KUALA LUMPUR (March 22): Here is a brief look at some of the corporate announcements and news flow on Tuesday (March 22) which involve IHH Healthcare Bhd, Capital A Bhd, Supermax Corp Bhd, Unisem (M) Bhd, United Malacca Bhd, Malaysia Airports Holdings Bhd (MAHB), Wah Seong Corp Bhd, Hong Seng Consolidated Bhd, Kejuruteraan Asastera Bhd (KAB), Encorp Bhd and Scomi Energy Services Bhd.

IHH Healthcare Bhd has submitted a confidential, conditional, non-binding and indicative proposal to acquire 100% of Ramsay Sime Darby Health Care Sdn Bhd for RM5.67 billion. Ramsay Sime Darby is an Asian joint venture equally owned by Ramsay Health Care and Sime Darby Holdings Bhd.

After seeing air travel brought to a near standstill in 2020, AirAsia Aviation Group Ltd (AAAGL), the airline arm of Capital A Bhd, expects its passenger capacity to recover to 90% of its pre-Covid-19 levels by the end of this year and reach 100% in the first quarter of next year, as Malaysia gears up for a full reopening of its international borders beginning next month.  

Supermax Corp Bhd said production of its first ever manufacturing plant in the US is now expected to begin sometime in the second quarter of 2023, instead of the fourth quarter of 2022 as indicated earlier. The glove maker said the advanced facility located in Brazoria County, Texas, will be the group’s 18th international plant. The facility will comprise a total of eight buildings, with an investment of US$350 million earmarked for the first four construction phases.

Unisem (M) Bhd held a groundbreaking ceremony to commemorate the start of construction of its new semiconductor production facility on a piece of industrial land in Gopeng, Perak. Unisem said Phase 1 of the new Gopeng Plant with an aggregate built up area of about 57,000 sq m with cleanroom facilities, is expected to be completed in April 2023 at an approximate cost of RM300 million. The semiconductor assembly and test services provider said that once completed, the Gopeng Plant will enable it to better serve the needs of customers with a broad portfolio of products and services, adding it will double the production capacity of existing operations in Ipoh.

United Malacca Bhd’s net profit in the third quarter ended Jan 31, 2022 almost doubled to RM30.24 million compared to RM13.73 million in the same period last year, on the back of higher crude palm oil prices. The group said its quarterly revenue rose 38.15% to RM147.79 million from RM106.98 million, underpinned by higher contribution from its Malaysia and Indonesia’s operation. The group also declared a dividend of 5 sen per share in the current quarter under review. For the nine months period ended on Jan 31, the group’s net profit leapt more than threefold to RM87.18 million from RM24.71 million, while revenue expanded 39.35% to RM406.51 million from RM291.71 million.

Malaysia Airports Holdings Bhd's (MAHB) airport network continued to hold above the four million-mark since October 2021, with 4.7 million passengers recorded for February 2022. This was a year-on-year (y-o-y) increase of 186% from 1.6 million previously. On a month-on-month basis, it was slightly lower compared with January 2022's 4.8 million passengers. The airport operator said Malaysia and Istanbul Sabiha Gokcen International Airport recorded 2.5 million and 2.1 million passenger movements respectively, contributing to the month's growth. On a trailing 12-month basis, the entire MAHB airport network recorded growth of 61.5% with 41.8 million passenger movements, compared with 25.9 million in February 2021.

Wah Seong Corp Bhd is selling its remaining 30% stake in pipe manufacturing unit Spirolite (M) Sdn Bhd to Lesso Malaysia Holdings Sdn Bhd for RM30.8 million, cash, as part of its plan to divest non-core businesses within the group to streamline its operations and resources. Wah Seong said it has exercised the put option on Tuesday to sell the 30% stake.

Hong Seng Consolidated Bhd has inked a collaboration and commitment agreement with the National Disaster Management Agency (NADMA) on foreign workers recruitment and quarantine management at a panel of selected hotels. The agreement was signed and would be executed by Hong Seng's 52%-owned subsidiary eMedAsia Sdn Bhd and NADMA, while the panel of selected hotels was represented by Cahaya Pengurusan Cekap Sdn Bhd and Faz Group Sdn Bhd.

Kejuruteraan Asastera Bhd (KAB) has inked five Rooftop Solar Power Generating System Construction and Power Purchase Agreements worth RM46.8 million with an estimated aggregate capacity of 4,284 kilowatt-peak (kWp) in Thailand. The agreement requires KAB to construct the Grid-Connected Photovoltaic solar system for Siam Machinery and Equipment Co Ltd and four subsidiaries of Aapico Group of Companies.

The Federal Land Development Authority (Felda), which owns 62.3% of Encorp Bhd, has entered into a joint-venture agreement with the latter to jointly complete the development of a project involving low- and medium-cost housing for Felda settlers in Chuping, Perlis for an estimated total cost of RM57.32 million. Encorp said the project will be split into two phases for the development of 25 acres and 21 acres respectively. Felda will be sharing with Encorp 20% and 25% of the total estimated gross development profit of RM31 million for phase one and phase two of the project respectively.

Scomi Energy Services Bhd said its independent and non-executive chairman Stephen Fredrick Bracker has retired. Bracker, 68, did not seek re-election at the group’s annual general meeting on Tuesday. Meanwhile, Raja Ahmad Murad Raja Bahrin and Ruziah Mohd Amin were re-elected as directors of the group.

https://www.theedgemarkets.com/article/ihh-healthcare-capital-supermax-unisem-united-malacca-mahb-wah-seong-hong-seng-kab-encorp