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BCorp, Toyo Ventures, SunCon, Duopharma, Cypark, Kim Loong, Tiong Nam, SEGi, ATA IMS, EP Manufacturing

KUALA LUMPUR (Dec 28): Based on corporate announcements and news flow on Wednesday (Dec 28), companies in focus on Thursday (Dec 29) may include Berjaya Corp Bhd, Toyo Ventures Holdings Bhd, Sunway Construction Group Bhd, Duopharma Biotech Bhd, Cypark Resources Bhd, Kim Loong Resources Bhd, Tiong Nam Logistics Holdings Bhd, SEG International Bhd, ATA IMS Bhd and EP Manufacturing Bhd.

A unit of Berjaya Corp Bhd (BCorp) is acquiring six parcels of freehold land collectively measuring about 20,977.15 square metres in Yokohama, Japan for ¥12.66 billion (RM408.82 million) cash, contemplating the development of a Four Seasons Yokohama Harbour Edge project on these land parcels. The project comprises a luxury hotel and upscale residences, aquarium and retail outlets. The estimated gross development cost, including land acquisition cost, amounts to about ¥101.54 billion, while the estimated gross development value is ¥138.17 billion.

Toyo Ventures Holdings Bhd's units have entered into an interim agreement with a consortium led by Sunway Construction Group Bhd (SunCon) to negotiate details for the consortium to undertake a US$2.2 billion (RM9.73 billion) job for the development of a 2,120 MW coal-fired power plant in Vietnam. The agreement sets to establish the detailed terms and conditions about the contractor's performance in design, engineering, procurement, manufacture, supply, construction, erection, testing and commissioning of the electric generation facility.

Duopharma Biotech Bhd has set a milestone by becoming the first pharmaceutical company to receive halal certification for an oncology product. The certification was granted by the Department of Islamic Development Malaysia (JAKIM). The product is currently approved as an adjuvant treatment for postmenopausal women with early breast cancer, as well as a first-line treatment for postmenopausal women with advanced breast cancer.

Cypark Resources Bhd has fixed the issue price of its private placement exercise at 38 sen per share to raise about RM68 million, which is lower than what it had planned earlier. The issue price represents a discount of almost 8% to the volume-weighted average price of the units for the five market days up to and including Dec 27 of 41.27 sen apiece.

Kim Loong Resources Bhd's net profit for the third quarter ended Oct 31, 2022 fell 10.6% to RM36.74 million from RM41.09 million a year ago, as revenue declined 18% to RM402.41 million from RM492.8 million. Earnings per share fell to 3.8 sen, from 4.3 sen last year. Nonetheless, Kim Loong declared a special dividend of five sen per share. For the cumulative nine months ended Oct 31, 2022, Kim Loong's net profit grew 19% to RM125.64 million or 13 sen per share from RM105.62 million or 11.22 sen per share, while revenue rose 22.4% to RM1.48 billion from RM1.21 billion.

Tiong Nam Logistics Holdings Bhd has entered into a joint venture (JV) agreement with Johor Corp to develop a high-tech logistics industrial park on a 300-acre land at Sedenak Technology Valley in Johor. It inked the agreement with Johor Corp's wholly owned subsidiary JLand Group Sdn Bhd following a preliminary collaboration agreement in August 2022. The development consists of ready-built and customised warehouses, factories and commercial buildings, along with integrated logistics infrastructure for global businesses.

SEG International Bhd (SEGi), which operates the SEGi Group of Colleges, is planning to pay a second interim dividend of two sen per share for its financial year 2022. The interim dividend will be paid on Jan 20, 2023, with the ex-date falling on Jan 11. Meanwhile, SEGi is buying two companies for RM700,000 in an all-cash deal — Peninsula Education Sdn Bhd and Imperial Education (Ipoh) Sdn Bhd — which are involved in the K-12 education business from its managing director cum largest shareholder Tan Sri Clement Hii Chii Kok.

ATA IMS Bhd is looking to undertake an impairment exercise and slash its operating capacity, following the termination of contracts by British home appliances maker Dyson announced last week. It will provide the estimate "as soon as possible", which will include early termination of certain tenancy agreements for leasing of its production plant, warehouse and hostel. The electronics manufacturing services provider also pointed to potential impairment from the acquisition of IMS Group it made in 2018, which included a RM76.4 million goodwill it recognised earlier.

EP Manufacturing Bhd has entered into an exclusive distributor agreement spanning five years with Hubei Dongfeng Power Auto Trade Co Ltd and Xiamen Tsingyan Hylong Motor Technology Co Ltd to assemble and sell Lingbox electric vehicles in Malaysia and Indonesia. EP Manufacturing's subsidiary EP 4Wheeler Sdn Bhd has also been granted the right to assemble completely knocked-down and semi-knocked-down Lingbox vehicles as well as conducting independent upgrades or adaptive improvements to the products.

https://www.theedgemarkets.com/node/649815

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