-->

Type something and hit enter

Videos



On

Sapura Energy, Axiata, RHB, VS Industry, Kein Hing, BCorp, BLand, Telekom Malaysia, Seacera, Mlabs, Bintai Kinden, Jerasia, Alam Maritim, AME Elite Consortium and Genting

KUALA LUMPUR (March 25):  Here is a brief look at some of the corporate announcements and news flow on Friday (March 25) which involve Sapura Energy Bhd, Axiata Group Bhd, RHB Bank Bhd, VS Industry Bhd, Kein Hing International Bhd, Berjaya Corp Bhd, Berjaya Land Bhd, Telekom Malaysia Bhd, Seacera Group Bhd, Mlabs Systems Bhd, Bintai Kinden Corp Bhd, Jerasia Capital Bhd, Alam Maritim Resources Bhd, AME Elite Consortium Bhd and Genting Bhd.

National oil company Petroliam Nasional Bhd (Petronas) has denied reports and speculation on “talks with the government on a proposal to take a significant stake” in financially troubled Sapura Energy Bhd. Petronas' statement came after former premier Datuk Seri Najib Razak wrote on Facebook on March 20, urging the government to protect Sapura Energy from bankruptcy by providing loans or getting Petronas or Khazanah Nasional Bhd to take over ownership of the group from Permodalan Nasional Bhd.

Malaysia’s largest mobile phone network operator and fourth largest bank are among key contenders to win one of five coveted digital banking licences in the country, which could unlock a slice of the booming e-commerce market. Among the front runners is a consortium comprising mobile phone network operator Axiata Group Bhd and RHB Bank Bhd.

VS Industry Bhd saw its net profit in the second quarter ended Jan 31, 2022 (2QFY22) decline by 30% to RM44.49 million compared with RM63.79 million in the same period last year, underpinned by lower orders for printed circuit board assembly from key customers during the current quarter, coupled with disruption in the global supply chain which affected supply of components. The electronics manufacturing services group said its quarterly revenue, however, increased marginally by 1.47% to RM1.01 billion from RM999.31 million, fuelled by higher contribution from its Malaysian operations. For the full six-month period ended Jan 31, the group’s net profit fell by 35.71% to RM83.88 million from RM130.47 million in the prior year. Revenue declined slightly by 0.2% to RM1.98 billion from RM1.99 billion previously.

Kein Hing International Bhd’s net profit jumped 56.12% to RM6.33 million in the third quarter ended Jan 31, 2022 (3QFY22), from RM4.05 million a year ago on the back of its highest-ever revenue achieved and a one-off gain arising from the waiver of a loan granted to a subsidiary by a non-controlling interest amounting to RM1.31 million. Revenue for the quarter increased by 21.82% to RM80.66 million from RM66.21 million a year prior on higher sales orders from the automotive industry in Malaysia as well as a surge in demand for parts from home appliance and printer manufacturers in Vietnam. For the cumulative nine months ended Jan 31, 2022 (9MFY22), its net profit rose 19.55% to RM10.6 million from RM8.87 million a year earlier. Revenue also grew 8.11% to RM201.54 million from RM186.43 million during the same period.

Berjaya Corp Bhd’s subsidiary Berjaya Enviro Holdings Sdn Bhd (BEnviro) is teaming up with Qhazanah Sabah Bhd (QSB), the Sabah State government’s strategic investment arm, to develop and modernise waste management facilities in Sabah. On Friday, BEnviro signed a Memorandum of Understanding (MoU) with QSB to cooperate on the development and operation of integrated waste management projects utilising modern and advanced technologies.

Berjaya Land Bhd is collaborating with Sabapak Eco Sdn Bhd to jointly develop a Sustainable Tourism Destination in Sabah. The two parties inked an MoU for this purpose on Friday, under which they will jointly formulate a comprehensive sustainable plan to develop and transform part of Gaya, Sapi and Bohey Dulang Islands into a prime destination for eco-tourism.

Telekom Malaysia Bhd (TM) on Friday denied all allegations and claims in a notice of arbitration made by MYTV Broadcasting Sdn Bhd last month over a dispute of non-payment for the provision of digital terrestrial television, broadcasting infrastructure and network facilities. TM on Friday also counterclaimed against MYTV for the following reliefs. These are the RM90.2 million for the outstanding charges and RM5.54 million for late-payment charges due and owed by MYTV to TM under the service agreement as of March 25, 2022.

Tile manufacturer-cum-property developer Seacera Group Bhd is partnering with Ikhlas Al Dain Sdn Bhd, the indirect wholly-owned unit of Mlabs Systems Bhd, to develop holiday villas in Kemaman, Terengganu that will have an estimated gross development value of RM156.46 million. Seacera on Friday entered into a joint venture (JV) agreement with Ikhlas via its wholly-owned subsidiary, Seacera Builders Sdn Bhd. Ikhlas was in August last year granted sole, exclusive rights by Ribuan Bakat Sdn Bhd to develop several plots of freehold Malay Reserve Land totalling 30.17 acres that Ribuan Bakat owns.

Bintai Kinden Corp Bhd has formed a 51:49 JV with Petro Flanges & Fittings Sdn Bhd (PFF) to supply materials and equipment to the local and international oil and gas industry, including the Middle East, via the distributorship channel of PFF. The two companies are setting up the JV, Bintai Energy Sdn Bhd, to capitalise on the expected O&G industry recovery as capital investments pick up at home and abroad in response to the global energy and commodities crunch.

Loss-making Practice Note 17 (PN17) company Jerasia Capital Bhd said on Friday, its executive deputy chairman Datuk Yap Fung Kong and his daughter, executive director Debbie Yap May See, have resigned due to "personal reasons". The resignations took effect a day earlier.

The voluntary resignation of Messrs Al Jafree Salihin Kuzaimi PLT (Salihin) as the auditor of Alam Maritim Resources Bhd was due to the former's limited number of partners registered with the Audit Oversight Board. The group noted that it remains in the midst of appointing a new auditor.

AME Elite Consortium Bhd has obtained the approval from the Securities Commission Malaysia for the proposed establishment and listing of an industrial real estate investment trust (AME REIT) on the Bursa Malaysia Main Market. AME REIT will have an initial fund size of 520 million.

Genting Bhd, via Genting RMTN Bhd, has issued medium term notes (MTNs) via two tranches of RM500 million as part of its RM10 billion MTN programme. The two tranches comprise a five-year note amounting to RM400 million with a coupon rate of 5.19%, as well as an RM100 million note with a 10-year tenure and 5.62% coupon rate. The proceeds raised from these MTNs will be utilised by the group for the operating expenses, capital expenditure and working capital requirements.

https://www.theedgemarkets.com/article/sapura-energy-axiata-rhb-vs-industry-kein-hing-bcorp-bland-telekom-malaysia-seacera-mlabs

Back to Top
Back to Top