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KUB, Apex Healthcare, Amway, Kobay, Samaiden, ELK-Desa, Samaiden Group, China Automobile Parts, Gabungan AQRS and AWC

KUALA LUMPUR (Nov 16): Here is a brief recap of some corporate announcements that made news on Wednesday (Nov 16) involving KUB Malaysia Bhd, Apex Healthcare Bhd, Amway (Malaysia) Holdings Bhd, Kobay Technology Bhd, ELK-Desa Resources Bhd, Samaiden Group Bhd, China Automobile Parts Holdings Ltd, Gabungan AQRS Bhd and AWC Bhd.

Umno-linked company Anchorspace Sdn Bhd has ceased to be a substantial shareholder of KUB Malaysia Bhd after it sold 50 million KUB shares or an 8.99% stake in the company via direct business transactions on Nov 11. The block of 50 million shares was transacted at 55 sen per share, or RM27.5 million in total. Anchorscape is a unit of Gaya Edisi Sdn Bhd, which ultimately is owned by Umno-linked investment vehicle Temasek Padu Sdn Bhd. A separate filing showed that Leasing Corp Sdn Bhd bought 50 million shares on the same day, raising its stake in KUB to 17.97% and making it the second largest shareholder after JAG Capital Holdings Sdn Bhd, a company controlled by former second Finance Minister Datuk Seri Johari Abdul Ghani. JAG Capital holds a 32.96% stake.

Apex Healthcare Bhd’s third quarter net profit surged 91.87% to RM26.88 million from RM14.01 million a year earlier, helped by a significantly stronger share of net-of-tax earnings from its associated company. Quarterly revenue climbed 9.96% to RM232.08 million from RM211.06 million as demand for pharmaceuticals, medical devices and consumer healthcare products continued to stay elevated in both domestic and international markets. Apex Healthcare’s latest quarterly net profit and revenue is a fresh new high, beating its previously quarterly record net profit of RM23.49 million set in the immediate preceding quarter (2QFY22) and record revenue of RM215.9 million set in 1QFY22.

Amway (Malaysia) Holdings Bhd’s net profit for the third quarter ended Sept 30, 2022 jumped 135.6% to RM18.75 million from RM7.96 million in the same period last year, underpinned by price increases and the normalisation of Amway Business Owners sales incentives as sales growth returned to moderation. Quarterly revenue, however, dipped 3.16% to RM371.79 million from RM383.93 million previously. The multi-level marketing company declared a third interim dividend of five sen per share, payable on Dec 16.

Kobay Technology Bhd posted an 8.18% rise in its net profit to RM10.52 million for the first quarter ending Sept 30, 2022, from RM9.72 million a year earlier. This was backed by better performance from its property development and property letting businesses, besides being supported by the pharmaceutical and healthcare division. However, its manufacturing division faced higher pre-operation costs for new businesses. Quarterly revenue climbed 35.24% to RM89.44 million from RM66.14 million.

ELK-Desa Resources Bhd’s net profit for the second quarter ended Sept 30, 2022 jumped to RM11.53 million from RM4.75 million a year ago, on higher contributions from both hire purchase and furniture segments. The company has declared an interim dividend of 4.5 sen per share, payable on Dec 16. The dividend payout is higher than the two sen declared for the previous corresponding period. Additionally, ELK-Desa Resource also announced a one-for-two bonus issue, with the entitlement date for the bonus issue of up to 151.6 million shares to be determined later.

Renewable energy solutions provider Samaiden Group Bhd said its net profit rose 18.02% to RM2.44 million for the first quarter ended June 30, 2023, from RM2.07 million a year earlier, thanks to an increase in the number of projects and their contract sum. Quarterly revenue climbed 71.83% to RM40.77 million from RM23.73 million, almost all of which came from engineering, procurement, construction and commissioning services.

China Automobile Parts Holdings Ltd (CAP), whose external auditors had recently expressed a disclaimer of opinion in relation to its financial statements for the financial year ended June 30, 2022, said it is working on several measures to mitigate the existence of material uncertainty on going concern within the next 12 months. The automobile parts manufacturer said the management is actively trying to secure a new white knight and the company will submit an appeal on Nov 16 for further extension of time until June 30, 2023 for the company to submit a regularisation plan to the regulatory authorities. The management is proposing to dispose of CAP to an external party as part of the proposed regularisation plan.

Gabungan AQRS Bhd has entered into a joint development agreement with PR1MA Corporation Malaysia to develop a residential project in Kuantan, Pahang, with an estimated gross development value of RM335.95 million. The group said the project involves the development of 1,065 units of single-storey terrace and single-storey semi-detached housing, with 320 units in the first phase, 328 units in the second, and 417 units in the third phase. Gabungan AQRS said the 40.80-hectare project is expected to be completed within 84 months from the project's commencement date. PR1MA is the land owner.

AWC Bhd has bagged a RM188.31 million contract to provide hospital support services for the National Cancer Institute. AWC said its wholly-owned subsidiary Ambang Wira Sdn Bhd was awarded the contract by the Ministry of Health, after submitting a tender. The five-year contract is expected to contribute positively to its earnings over the duration.


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