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Top Glove, BLand, PetGas, TCS, Alam Maritim, Aneka Jaringan, Willowglen, G Capital, Opensys and Wegmans

KUALA LUMPUR (March 2): Based on corporate announcements and news flow on Wednesday, companies in focus on Thursday (March 3) may include: Top Glove Corp Bhd, Berjaya Land Bhd, Petronas Gas Bhd, TCS Group Holdings Bhd, Alam Maritim Resources Bhd, Aneka Jaringan Holdings Bhd, Willowglen MSC Bhd, G Capital Bhd, OpenSys (M) Bhd and Wegmans Holdings Bhd.

The Malaysian Rubber Glove Manufacturers Association (MARGMA) has clarified that the RM3.6 billion loss estimated to have been incurred by Top Glove Corp Bhd due to the import ban under the US Customs and Border Protection's (US CBP) Withhold Release Order (WRO), is actually a cumulative sum from a few affected companies. And it is an estimated loss in potential glove export revenue due to the WRO issue, and not an actual financial loss of any single company, said the association. The figure was arrived at based on various assumptions, it said, but did not elaborate. MARGMA said it stands corrected on the issue.

Berjaya Land Bhd (BLand) has pulled out from the deal to undertake a housing and mixed development project with an estimated gross development value of US$746.08 million (RM3.05 billion) in Yangon, Myanmar. BLand said its 80%-owned subsidiary, BDS Smart City Co Ltd, has served a written notice on the Yangon Region Government (YRG) to terminate the concession agreement due to non-fulfilment of conditions. The agreement was signed on Feb 7, 2020.

Petronas Gas Bhd (PetGas) said its incentive-based regulation (IBR) tariff for its Peninsular Gas Utilisation (PGU) facility has been adjusted to RM1.128/GJ through 2022, from RM1.129/GJ. This follows the approval by the Energy Commission for the adjustment, which PetGas said is an annual process under the IBR framework during the three-year Regulatory Period 1 (RP1) from 2020 to 2022.

Construction firm TCS Group Holdings Bhd has bagged an RM255 million contract from Remedy Power Sdn Bhd to construct the foundation and main building works of a mixed-use development project in Taman Desa, Kuala Lumpur. TCS said its wholly-owned subsidiary TCS Construction Sdn Bhd accepted the letter of award from Remedy on Tuesday.

Alam Maritim Resources Bhd announced that it has received a Letter of Award for an RM52 million contract in respect to the Cendor Pipeline Project by Petrofac Malaysia. The company said that the Letter of Award, which is secured by its wholly-owned subsidiary Alam Maritim (M) Sdn Bhd, is for the provision of transportation, installation and pre-commissioning of flexible risers and other appurtenances for Cendor Pipeline project.

Aneka Jaringan Holdings Bhd has secured an RM20.18 million contract to undertake piling and substructure works for a 45-storey condominium project in Setapak. The contract was awarded by A&A Architects Sdn Bhd on behalf of Curvo Development Sdn Bhd.

Integrated computer systems design company Willowglen MSC Bhd said its unit Willowglen (Malaysia) Sdn Bhd has been awarded a contract worth RM14.4 million from Sapura Rail Systems Sdn Bhd. The contract is for the provision of a systems package-integrated supervisory control system in respect of a rapid transit system (RTS).

G Capital Bhd (formerly known as Gunung Capital Bhd) said its 70%-owned unit Solarcity Malaysia Sdn Bhd has been awarded a solar photovoltaic energy generating system contract by two subsidiaries of KSK Group Bhd. The contract involves the construction of two plants in Kota Damansara, Petaling Jaya and Jalan Yap Ah Shak, Kuala Lumpur, with a total capacity of 271 KWp.

OpenSys (M) Bhd has rolled out its Smart CIT secure logistics and cash management solution for Tenaga Nasional Bhd (TNB) to enhance process efficiencies and reduce up to 33% in overall processing costs. The financial services, telecommunications and utilities solutions provider said it targets to complete the rollout of its Smart CIT solution across all 114 TNB retail outlets nationwide in the first quarter of 2022. Developed by OpenSys subsidiary OpenSys Technologies Sdn Bhd, the Smart CIT platform combines conventional CIT services with cutting-edge IoT-based secure logistics solution that provides TNB with a real time dashboard view of critical management information on collection schedules, balancing and reconciliation.

Wegmans Holdings Bhd has proposed to undertake a bonus issue of up to 168.76 million free warrants on the basis of one warrant C for every four existing ordinary shares. The group said that the move is to reward the company's shareholders for their continuous support by enabling them to participate in a derivative of the company without incurring any costs, and provide them an opportunity to further increase their equity participation in the company by exercising the warrants at a pre-determined price over the tenure of the warrants.


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