Serba Dinamik, Allianz, Land & General, Muhibbah Engineering, Ecomate

Serba Dinamik, Allianz, Land & General, Muhibbah Engineering, Ecomate

KUALA LUMPUR (Jan 10): Based on corporate announcements and news flow on Monday (Jan 10), companies that will be in focus on Tuesday (Jan 11) may include Serba Dinamik Holdings Bhd, Allianz Malaysia Bhd, Land & General Bhd, Muhibbah Engineering (M) Bhd and Ecomate Holdings Bhd.

Trading of oil and gas engineering company Serba Dinamik Holdings Bhd's securities on Bursa Malaysia will remain suspended until further notice as it has not complied with Bursa Securities' directive to make an announcement on the findings from the factual findings update on the special independent review.

This was despite the company issuing its outstanding annual report that included the annual audited financial statements together with the auditors' and directors' reports for the 18 months ended June 30, 2021 on Jan 6.

Allianz Malaysia Bhd's shareholders have much to cheer as the group has proposed an interim dividend of 63 sen per share for the financial year ended Dec 31, 2021 (FY21). The insurer has also declared an interim dividend of 75.6 sen per irredeemable convertible preference share (ICPS). Previously, the group paid a dividend of 58 sen per share and 69.6 sen per ICPS for FY20.

Land & General Bhd is buying a 3.55-acre leasehold land within the main commercial centre of Bandar Puchong Jaya for RM68.04 million. The land, belonging to Hartanah Idaman (M) Sdn Bhd, is located within walking distance of the IOI Puchong Jaya LRT station and IOI Shopping Mall.

Muhibbah Engineering (M) Bhd is planning to raise up to RM128.46 million through a rights issue for partial repayment of the group's revolving credit facilities and its working capital. The rights issue involves up to 256.91 million shares on the basis of one share for every two existing shares held at an entitlement date to be announced later. Of the proceeds to be raised, the bulk or RM96.69 million will be used for partial repayment of the revolving credit facilities of the group, while RM30.87 million has been earmarked to part-finance its general working capital requirements, such as payments of staff salaries, allowances, other emoluments and staff-related expenses.

Furniture manufacturer and ACE Market debutant Ecomate Holdings Bhd reported a net profit of RM2.62 million for its third quarter ended Nov 30, 2021, compared with a net loss of RM1.81 million, on higher revenue amid the uplifting of the temporary suspension of manufacturing operations by the government. Revenue rose 142.87% to RM15.68 million from RM6.45 million.

https://www.theedgemarkets.com/article/serba-dinamik-allianz-land-general-muhibbah-engineering-ecomate