MRCB, Serba Dinamik, Kanger International, Top Glove, Star Media, KESM Industries, MMAG Holdings, Scientex, Media Prima, Komarkcorp, Daibochi and Complete Logistics
KUALA LUMPUR (March 9): Based on corporate announcements and news flow today, companies in focus on Wednesday (March 10) may include: Malaysian Resources Corp Bhd (MRCB), Serba Dinamik Holdings Bhd, Kanger International Bhd, Top Glove Bhd, Star Media Group Bhd, KESM Industries Bhd, MMAG Holdings Bhd, Scientex Bhd, Media Prima Bhd, Komarkcorp Bhd, Daibochi Bhd and Complete Logistics Services Bhd.
Malaysian Resources Corp Bhd (MRCB) is set to make its mark in New Zealand via a partnership with Panuku Development Auckland to develop the Aotea Central Over Station Development with a gross development value of RM1.3 billion (NZ$452 million) in Auckland City Centre. The urban regeneration development above City Rail Link's Aotea Station spreads across 1.08 acres with a total gross floor area of approximately 45,292 square metres.
Serba Dinamik Holdings Bhd’s indirect wholly-owned subsidiary Serba Dinamik Sdn Bhd has secured a term contract involving rotating equipment maintenance services for the Petronas LNG Complex Malaysia from Malaysia LNG Sdn Bhd.
The contract commenced on Feb 19 and is scheduled for completion on Sept 30, 2022.
Kanger International Bhd will receive 10,000 doses of a Covid-19 vaccine developed by China’s state-owned China National Pharmaceutical Group Corp (Sinopharm) for trial purposes. The group said the 10,000 doses of vaccine will be for trial purposes and that it will be getting the necessary approvals from relevant authorities.
Top Glove Corp Bhd’s net profit for the second quarter ended Feb 28, 2021 rose 20.76% to RM2.87 billion, from RM2.38 billion in the preceding quarter. Revenue grew 12.74% to a record RM5.37 billion, from RM4.76 billion in the first quarter. This was despite glove sales volume shrinking 8% due to temporary stoppages in production at Top Glove’s factories in Meru, Klang in November and December last year. The group has declared a dividend of 25.2 sen per share, payable on April 6.
Star Media Group Bhd has appointed Tan Sri Chor Chee Heung as its independent and non-executive chairman, effective March 15. Chor, 66, will replace Datuk Fu Ah Kiow, who resigned as the group’s director and chairman on March 1.
KESM Industries Bhd saw its net profit grow 239% or 3.4 times to RM6.33 million in the second quarter ended Jan 31, 2021, from RM1.87 million a year ago, due to higher other income. KESM’s other income surged to RM6.18 million from RM89,000 a year earlier, mainly due to gain on disposal of machinery and test equipment of RM3.1 million, and fair value gain on investment in securities of RM2.8 million.
MMAG Holdings Bhd has emerged as the second largest shareholder in Dynaciate Group Bhd with a 9.92% stake, after participating in the latter’s private placement. Dynaciate said MMAG has subscribed to 65.88 million shares in the company at 12.4 sen per share or RM8.17 million. The stock was last traded at 15 sen, valuing the group at RM89.72 million.
Scientex Bhd said its latest quarterly net profit rose 15.07% to RM112.17 million, from RM97.47 million a year earlier, on robust property sales and construction progress, as well as stable packaging segment contributions. Revenue for the second quarter ended Jan 31, 2021 slipped by a marginal 0.86% to RM906.55 million, from RM914.38 million, dragged by lower packaging revenue.
Media Prima Bhd saw former second finance minister Datuk Seri Johari Abdul Ghani emerging as a shareholder, after he bought 109.7 million shares in the open market today, through his private investment vehicle JAG Capital Holdings Sdn Bhd. Johari now has a direct 4.96% stake or 55 million shares, and an indirect 4.93% stake or 54.7 million shares in Media Prima, following a series of acquisitions.
Komarkcorp Bhd said it has received a letter of intent from Poland-based Robayu Corp to export 48 million pieces of three-ply medical-grade masks to the US. The order is expected to be valued at US$4.8 million to mirror European pricing counterparts, and will be carried out over 12 months.
Daibochi Bhd’s net profit rose 3.2% to RM15.1 million or 4.61 sen per share for the second quarter ended Jan 31, 2021, from RM14.63 million or 4.47 sen per share a year ago.The end-to-end flexible packaging solutions provider’s quarterly revenue was up 1.5% to RM161.34 million, from RM158.96 million.
Complete Logistic Services Bhd saw businessman Datuk Eddie Ong Choo Meng emerging as its largest shareholder, after acquiring 29.18% or 37.45 million shares from Dolphin Assets Sdn Bhd in an off-market transaction today.