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Advanced Packaging Technology, Ajiya, ECM, Favelle Favco, Muhibbah Engineering, Focus Point, Matang, Sapura Energy, Sentoria, TWL and TechnoDex

KUALA LUMPUR (May 6): Based on corporate announcements and news flow on Friday, companies in focus on Monday (May 9) may include: Advanced Packaging Technology (M) Bhd, Ajiya Bhd, ECM Libra Group Bhd, Favelle Favco Bhd, Muhibbah Engineering (M) Bhd, Focus Point Holdings Bhd, Matang Bhd, Sapura Energy Bhd, Sentoria Group Bhd, TWL Holdings Bhd and TechnoDex Bhd.

KSL Capital Sdn Bhd has emerged as a substantial shareholder of Advanced Packaging Technology (M) Bhd after acquiring 1.22 million shares or 6.2%, of the packaging material manufacturer. According to the company's filing with Bursa Malaysia on Friday (May 6), the company said KSL Capital bought the block of shares on last Friday (April 29) via an open market transaction.

Ajiya Bhd has announced its new management with the appointment of a new executive director, managing director (MD) and chief executive officer (CEO) on Friday (May 6). In a bourse filing, Ajiya said it has appointed Datuk Seri Chiau Beng Teik as its executive director. Chiau’s son, Chiau Haw Choon, 38, was also appointed to serve as Ajiya’s MD, according to a separate filing. He currently serves and holds several other directorships in Solarvest Holdings Bhd and Signature International Bhd, on top of being the group MD of Chin Hin.

Meanwhile, Datuk Chan Wah Kiang, who had resigned as Ajiya’s MD on Thursday (May 5), had been appointed to helm the building materials manufacturer as its new CEO, it said in a separate filing on Friday.

ECM Libra Group Bhd said the potential listing of TYK Capital Sdn Bhd’s business was considered, confirming The Edge’s article entitled “Engtek Group eyes re-listing, hires RHB, HLIB for the job” reporting that the group is looking at a potential listing of its business. ECM also noted in an announcement to Bursa Malaysia on Friday (May 6) that no decision has been made yet.

In the filing with the bourse, ECM, which holds an effective 8.1% stake in TYK Capital through its 30%-owned associate Positive Carry Sdn Bhd, said the group and management of TYK Capital have been exploring various options to enhance value and maximise returns for its stakeholders, including a potential listing of the business. TYK Capital is the ultimate holding company of Engtek Group.

Favelle Favco Bhd, which on Thursday (May 5) declared a bumper dividend of 85 sen, announced on Friday (May 6) that it secured an aggregate amount of orders worth RM55 million between Feb 22, 2022 and May 6, 2022. In a bourse filing, the crane manufacturer — controlled by Main Market-listed Muhibbah Engineering (M) Bhd — said the purchase orders were received by its subsidiaries, namely Favelle Favco Cranes Pty Ltd, Favelle Favco Cranes (M) Sdn Bhd and Favelle Favco Cranes Pte Ltd. Favelle Favco expects these contracts to contribute positively to its earnings and net assets for the financial year ending Dec 31, 2022 and beyond.

Optical retail chain store operator Focus Point Holdings Bhd has proposed the transfer of its listing to the Main Market of Bursa Malaysia, as it has met the profit test of the Securities Commission Malaysia's Equity Guidelines.

Matang Bhd plans to raise RM22.59 million via a proposed private placement of up to 217.2 million shares or 10% of its total issued shares at an issue price to be determined later. Of the expected proceeds, Matang said it has earmarked RM22.51 million to fund acquisitions — which include oil palm, durian plantations or additional land bank for the development of new oil palm or durian plantations.

Tan Sri Megat Zaharuddin Mohd Nor has resigned as an independent director of Sapura Energy Bhd to pursue other interests, according to a bourse filing by the troubled oil and gas (O&G) group. Accordingly, he has also ceased to be the chairman of the group’s nomination and remuneration committee. Megat Zaharuddin was appointed as independent non-executive director on Aug 27, 2020, and was subsequently appointed as a senior independent non-executive director on Sept 18, 2020.

TWL Holdings Bhd’s largest shareholder TWL Capital Bhd has emerged as a substantial shareholder of Sentoria Group Bhd with a 12.19% stake. In a bourse filing on Friday (May 6), Sentoria said TWL Capital had acquired 68 million shares in the theme park operator-cum-property developer through off market transactions on Thursday (May 5). Bloomberg data showed that TWL Capital had a 12.6% stake in TWL Holdings, formerly Tiger Synergy Bhd.

Information technology company TechnoDex Bhd has teamed up with Sweden-based Nordic Apiary Holding AB to jointly set up a Malaysia-Nordic-South East Asian value-added distributor (VAD) in Malaysia. It said the proposed joint venture (JV) is in line with its strategic plan to collaborate with prospective partners to venture into innovation technologies and broaden its services in Southeast Asia.


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