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Maybank, Hengyuan, KSL, Bermaz Auto, Mah Sing, Aneka Jaringan, Chin Teck, Widad, Magni-Tech, Uzma, Reservoir Link, BHIC, Capital A, Berjaya Corp, Astro, FGV, Perak Corp

KUALA LUMPUR (Sept 12): Here is a brief look at some corporate announcements and news flow on Monday (Sept 12), which include Malayan Banking Bhd, Hengyuan Refining Co Bhd, KSL Holdings Bhd, Bermaz Auto Bhd, Mah Sing Group Bhd, Aneka Jaringan Holdings Bhd, Chin Teck Plantations Bhd, Widad Group Bhd, Magni-Tech Industries Bhd, Uzma Bhd, Reservoir Link Energy Bhd, Boustead Heavy Industries Corp Bhd, Capital A Bhd, Berjaya Corp Bhd, Astro Malaysia Holdings Bhd, FGV Holdings Bhd and Perak Corp Bhd.

Malayan Banking Bhd (Maybank) has announced that it will be moving its headquarters to Menara Merdeka 118, the world's second tallest building owned by the bank's largest shareholder Permodalan Nasional Bhd (PNB). Maybank has entered into a 21-year tenancy agreement with PNB, consisting of an initial term of three years and renewals for further six three-year terms. The company will occupy 33 floors of Menara Merdeka 118, and has been offered naming and signage rights over the building.

Hengyuan Refining Co Bhd has established an unrated medium-term notes (MTN) programme of up to RM5 billion in nominal value, and accepted RM1.31 billion in multi-currency revolving credit facilities. Hengyuan said tranches of the RM5 billion MTN programme will be issued over a tenure of 30 years via bought deal or private placement. The crude oil refiner said the purpose of the MTN programme and revolving credit facilities is to refinance its existing loans, fund the medium-term growth and working capital of the company, as well as allow Hengyuan to proceed with its planned upgrade and maintenance projects for its refinery.

KSL Holdings Bhd is buying 53.89 acres of freehold land in Pontian, Johor from Tropicana Corp Bhd for RM102.94 million. The property developer said its wholly owned subsidiary KSL Medini Development Sdn Bhd is acquiring the land from Tropicana GP Views Sdn Bhd, a unit of Tropicana. The acquisition is expected to be completed by end-2023.

Bermaz Auto Bhd registered a 388.5% jump in net profit to RM50.16 million in the first quarter ended July 31, 2022 from RM10.27 million a year earlier, mainly due to a surge in vehicle sales prior to the expiry of the sales tax exemption incentive. Quarterly revenue jumped 123.5% to RM716.87 million from RM320.79 million, mainly due to an increase in overall sales volume from the group's Mazda, Peugeot and Kia operations in Malaysia. The group declared a first interim dividend of three sen per share, to be payable on Nov 4.

Mah Sing Group Bhd's wholly owned subsidiary Klassik Tropika Development Sdn Bhd is disposing of 13,695 square metres of freehold land in Georgetown, Penang to Morningjoy Sdn Bhd for RM66.33 million cash. Man Sing said the disposal of the land is in line with the group's strategy to focus more on its "M-Series" type of residential land for development of affordable properties that are in line with current market demand. Separately, the group also announced that its M Panora (Phase 1A) 137 units of double-storey super link homes in Rawang were 100% taken up during the project's weekend launch on Sept 10 and 11.

Aneka Jaringan Holdings Bhd has bagged a RM46 million contract that entails piling and substructure works for a mixed-development project in Setapak. Its wholly owned subsidiary Aneka Jaringan Sdn Bhd has accepted a letter of acceptance from 59 INC Sdn Bhd to be the contractor of the project. The project is expected to be completed by Nov 2, 2023.

Chin Teck Plantations Bhd is to acquire Kelantan-based planter Fauzi-Lim Plantation Sdn Bhd for RM45 million cash. The group said its wholly owned subsidiary, VMAS Untung Sdn Bhd, is buying the plantation firm from MWE Holdings Sdn Bhd. It said the acquisition would provide it with an opportunity to pursue its long-term strategy of expanding its plantation business through brownfield oil palm plantations.

Widad Group Bhd's wholly owned subsidiary Widad Builders Sdn Bhd has secured a contract worth RM40 million from Langkasuka Land Sdn Bhd for the construction and completion of earthworks for a mixed-development project in Langkasuka, Langkawi. The contract is for a period of 10 months, from Sept 22, 2022 to July 22, 2023.

Magni-Tech Industries Bhd's net profit for the first quarter ended July 31, 2022 (1QFY23) rose 14.16% to RM24.03 million from RM21.05 million a year ago, underpinned by higher sales orders received from both its garment and packaging segments. Quarterly revenue grew 11.57% to RM340.91 million — its highest since 3QFY21 — from RM305.57 million recorded in the same period a year ago. The group declared a single-tier interim dividend of 2.2 sen per share, to be payable on Oct 12.

Uzma Bhd's unit has bagged a RM17 million contract from Petronas Carigali Sdn Bhd for the provision of lightweight hydraulic workover units. It said the scope of work comprises the integrated HWU services for Petronas Carigali's abandoned well campaign in offshore East Malaysia. The campaign will be for two wells, and work is expected to commence in September this year, to be completed a month later in October.

Reservoir Link Energy Bhd's 51%-owned subsidiary Founder Energy Sdn Bhd (FESB) has bagged a RM16.7 million contract to undertake a turnkey construction and commission of a 25MWac large-scale solar photovoltaic plant in Manjung, Perak. Reservoir Link said FESB on Sept 6 received a letter of award from Savelite Engineering Sdn Bhd for the proposed project. It added that FESB is required to provide a performance bond for the project for 10% of the contract sum to Savelite Engineering.

Boustead Heavy Industries Corp Bhd (BHIC) has secured a RM15.72 million worth of contract from the Ministry of Defence to supply Bofors 57mm/L70 guns to the Royal Malaysian Navy, as well as provide maintenance and training for the weapons. The three-year contract was secured by its 51%-owned BHIC Bofors Asia Sdn Bhd (BBA). BHIC said a formal contract between the ministry and BBA will be signed soon.

Capital A Bhd, the parent of budget airline AirAsia, said its Teleport cargo arm would add three Airbus SE A321 freighters to its fleet starting in the first quarter of 2023. The freighters would be leased from BBAM Limited Partnership. Francis Anthony, head of commercial cargo at Teleport, said the A321s would allow it to serve such key markets as China from Malaysia, Thailand, Indonesia and the Philippines.

Berjaya Corp Bhd (BCorp) has said its subsidiary, Singapore Institute of Advanced Medicine Holdings Pte Ltd (SIAMH), will undertake a share split ahead of its listing on the Catalist Board of the Singapore Exchange. BCorp said the share split will involve SIAMH's existing shares and convertible preference shares, adding that the basis of the subdivision can only be finalised when the issue price for the initial public offering price is determined by way of an independent book-building exercise.

Astro Malaysia Holdings Bhd is set to further invest in global streaming services on its platform, and provide more local content via Astro Originals. Astro group chief operating officer and chief executive officer of TV Euan Smith said the company is building its online presence and continuing to look for opportunities to strengthen its digital, broadband and commerce businesses.

FGV Holdings Bhd through its subsidiary FGV Dairy Farm Sdn Bhd targets to increase its milk supply to 90,000 litres a month under its flagship dairy brand, Bright Cow, by partnering with home-grown coffee company Gigi Coffee. Currently, Bright Cow is supplying up to 40,000 litres of fresh milk per month to Gigi Coffee, which has 36 outlets nationwide. Bright Cow also supplies to other brands such as Inside Scoop and San Francisco Coffee.

Perak Corp Bhd said its group chief executive officer, Zainal Iskandar Ismail, has stepped down from his position as executive director "to pursue other interests". It is not immediately clear if Zainal Iskandar, 48, is retaining his CEO position at the PN17 company.

https://www.theedgemarkets.com/article/maybank-hengyuan-ksl-bermaz-auto-mah-sing-aneka-jaringan-chin-teck-widad-magnitech-uzma

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