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Cahya Mata, Berjaya Food, CIMB, Widad, Telekom, BAT Malaysia, UOA REIT, Unitrade and Kenanga Investment

KUALA LUMPUR (July 21): Here is a brief look at some corporate announcements and news flow on Thursday (July 21), which include Cahya Mata Sarawak Bhd (CMS), Berjaya Food Bhd, CIMB Group Holdings Bhd, Widad Group Bhd, Telekom Malaysia Bhd, British American Tobacco (Malaysia) Bhd, UOA Real Estate Investment Trust, Unitrade Industries Bhd and Kenanga Investment Bank Bhd.

  Cahya Mata Sarawak Bhd (CMS) is suing its former executive director, Datuk Syed Ahmad Alwee Alsree, and five others for alleged breaches of fiduciary duties in respect of the construction of an integrated phosphate additives plant in Samalaju, Sarawak. However, due to a lack of due diligence undertaken, CMS incurred RM67.57 million in losses (as on Sept 26, 2021), according to appointed consultant KPMG Management & Risk Consulting Sdn Bhd.

Berjaya Food Bhd’s board of directors has recommended shareholders to approve the group’s proposed bonus issue of up to 1.56 billion shares on the basis of four bonus shares for every one share held, saying it is in the best interest of the group. Shareholders are scheduled to vote on the proposal at an extraordinary general meeting on Aug 19.

  CIMB Group Holdings Bhd's 94.83%-owned subsidiary CIMB Thai Bank PCL's net profit for the cumulative six months ended June 30, 2022 jumped 122% year-on-year to 2.12 billion baht from 1.16 billion baht, mainly attributed to better cost control with a 7.4% decrease in operating expenses and a 63.7% decrease in expected credit losses.

  Widad Group Bhd plans to raise fresh capital of RM86.85 million via a private placement exercise at an indicative issue price of 33.5 sen per share. It intends to earmark RM46.4 million of the proceeds for potential acquisitions, RM45 million to partially repay its bank borrowings, while the balance of RM1.4 million is for the general working capital.

  Telekom Malaysia Bhd (TM) is aiming to achieve 58% fibre coverage in Sabah over the next three years, targeting to connect at least 145,000 premises as the group accelerates its fibre deployment through 2025.

  British American Tobacco (Malaysia) Bhd's (BAT Malaysia) net profit for the second quarter ended June 30, 2022 increased by 2.3% to RM73.25 million, up from RM71.62 million a year ago, driven by marginally higher revenue and gross profit margin coupled with lower tax expenses. The group declared a second interim dividend of 25 sen per share — payable on Aug 18 — adding to a total of 42 sen for FY2022.

  UOA Real Estate Investment Trust (UOA REIT) saw its net rental income for the second quarter ended June 30, 2022 fall by 1.5% to RM21.72 million from RM22.06 million a year ago. Its gross rental declined by 1.7% to RM28.49 million compared with RM28.97 million a year earlier. Earnings per unit, however, rose to 2.23 sen, up from 2.21 sen a year before. It declared an interim income distribution of 4.3 sen per unit for the quarter, which is to be paid on Aug 30.

  Unitrade Industries Bhd, which made its debut on the ACE Market of Bursa Malaysia on June 14, has proposed a first and final dividend of 0.82 sen per share for its financial year ended March 31, 2022.

  Kenanga Investment Bank Bhd has been named Best Securities House Malaysia 2022 at the Asiamoney 2022 Best Securities Houses Awards.


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