Serba Dinamik, LPI Capital, Hong Seng, OpenSys, KPower

Serba Dinamik, LPI Capital, Hong Seng, OpenSys, KPower

KUALA LUMPUR (Feb 7): Based on corporate announcements and news flow on Monday (Feb 7), companies that may be in focus on Tuesday (Feb 8) include Serba Dinamik Holdings Bhd, LPI Capital Bhd, Hong Seng Consolidated Bhd, OpenSys (M) Bhd, and KPower Bhd.

Serba Dinamik Holdings Bhd, whose securities have been suspended from trading, has been ordered by the High Court to reveal the fact-finding update (FFU) by Ernst & Young Consulting Sdn Bhd (EY Consulting), which was appointed to conduct a special independent review (SIR) on the public-listed company.

This is an order that demands Serba Dinamik to make a public announcement of the FFU of EY Consulting following its SIR pursuant to paragraph 2.23(1) of the Main Market Listing Requirements within two market days from the date of this order. This means that Serba Dinamik will have to reveal the FFU by Wednesday (Feb 9).

LPI Capital Bhd posted a 23% decline in net profit for the fourth quarter ended Dec 31, 2021 to RM73.07 million, from RM95.23 million a year prior amid lower underwriting profit caused by higher net claims incurred in the quarter. Its quarterly revenue was nearly flat at RM429.04 million, 1.5% higher against the RM422.38 million recorded a year ago, driven by growth in gross earned premium from its general insurance segment. The group also declared its second interim dividend of 45 sen per share to its shareholder, to be paid on March 2.

Hong Seng Consolidated Bhd said it is in talks with Japanese global trading and investment firm Mitsui & Co Ltd's subsidiary Mitsui Co (Malaysia) Sdn Bhd to form a strategic partnership for Hong Seng's nitrile butadiene latex business at Kedah Rubber City and integrated logistics services business in Penang.

OpenSys (M) Bhd has received an additional order worth RM10.8 million to supply cash recycling machines (CRMs) to Bank Simpanan Nasional (BSN) branches. OpenSys supplied BSN the initial batch of CRMs in 2019, and with this latest order, BSN would commission more than 270 CRMs across branches nationwide by the end of 2022.

KPower Bhd's executive chairman and group managing director Mustakim Mat Nun has bought a 0.8% stake, or 4.32 million shares, in the company at 34.5 sen apiece from his own investment vehicle Grand Deal Vision Sdn Bhd via a direct business transaction. The transaction raised Mustakim's direct interest in KPower to 40.71 million shares or 7.5%, while he holds an indirect stake of 7.31% via his investment vehicle.

https://www.theedgemarkets.com/article/serba-dinamik-lpi-capital-hong-seng-opensys-kpower