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YTL Hospitality REIT, FGV, Ingeniur Gudang, Willowglen MSC, Seremban Engineering, Ivory Properties, CIMB, Media Prima, AirAsia X, Awantec, Agmo and Oppstar

KUALA LUMPUR (Aug 1): Here is a brief look at some corporate announcements and news flow on Monday (Aug 1), which include YTL Hospitality REIT, FGV Holdings Bhd, Ingenieur Gudang Bhd, Willowglen MSC Bhd, Seremban Engineering Bhd, Ivory Properties Group Bhd, CIMB Group Holdings Bhd, Media Prima Bhd, AirAsia X Bhd, AwanBiru Technology Bhd (Awantec), Agmo Holdings Bhd and Oppstar Bhd.

YTL Hospitality REIT’s net property income (NPI) for the fourth quarter ended June 30, 2022 (4QFY22) rose 3.73% to RM56.8 million from RM54.7 a year earlier, due to improved performance from its hotel segment. It declared a distribution of 2.07 sen per unit for the second half of FY22 (2HFY22), down from 2.35 sen per unit in 2HFY21. This brought its FY22 distribution to 3.96 sen per unit, down 5% from FY21's 4.16 sen.

The Federal Land Development Authority (FELDA) bought a further 3.22 million shares in FGV Holdings Bhd from the open market between July 26 to 28. FGV said the latest acquisition raised the statutory body’s direct shareholding to 68.62%. FELDA has an indirect stake of 12.415% in FGV, bringing its combined shareholdings to 81.03% as at July 29.

Ingenieur Gudang Bhd (formerly known as Dynaciate Group Bhd) has proposed to acquire leasehold industrial land measuring 9.32 acres in Puncak Alam, Kuala Selangor from Yuwang Development Sdn Bhd and Global Bloom Sdn Bhd for RM30.45 million.

The construction company’s wholly-owned subsidiary Magnitude Resources Sdn Bhd entered into the conditional sale and purchase agreement for the proposed acquisition that is expected to be completed by the third quarter of 2024. Ingenieur Gudang said the group intends to build storage space suitable for courier and logistics businesses.

Willowglen MSC Bhd has secured a RM19.31 million award for the design, supply, delivery, installation, configuration, testing and commissioning of the TRX integrated management system. Its wholly-owned subsidiary, Willowglen (Malaysia) Sdn Bhd, clinched the contract from TRX City Sdn Bhd. The contract, which is expected to commence on Aug 16, 2022, will conclude on Nov 15, 2023.

Seremban Engineering Bhd has bagged a contract worth RM14.01 million from Technip Energies (M) Sdn Bhd for the supply and delivery of a melamine silo and pressure vessel for the latter. The commencement date for the melamine silo was June 3 and it is slated to be delivered by March 24, 2023. As for the pressure vessel, the commencement date is Aug 1 and it is slated to be delivered by Aug 29, 2023. The contract will be funded via internally generated funds.

Ivory Properties Group Bhd, whose external auditors have expressed a disclaimer of opinion on the company’s audited financial statements for the financial year ended March 31, 2022 (FY22), is now an affected listed issuer under Practice Note 17 (PN17). The group is taking the necessary steps to formulate a regularisation plan to regularise its financial condition and it endeavours to submit to the relevant authorities by the end of July 2023.

CIMB Group Holdings Bhd subsidiaries CIMB Bank Bhd and CIMB Islamic Bank Bhd, partnered with the Northern Corridor Implementation Authority (NCIA), are offering the NCIA-CIMB Entrepreneur Scheme (NCES) that provides up to RM5 million in rebates on interest and profit from CIMB’s SME loans and financing to eligible micro, small and medium entrepreneurs (MSMEs) in the northern states, intended to further stimulate the growth of local businesses.  

Former Bursa Malaysia Bhd chairman Datuk Shireen Ann Zaharah Muhiudeen, 59, who helmed the local bourse from March 2019 to April 2020, has been appointed as an independent director of Media Prima Bhd.

AirAsia X Bhd has appointed Tunku Datuk Mahmood Fawzy Tunku Muhiyiddin, 63, as its new chairman, a month after Tan Sri Rafidah Aziz stepped down from the position which she held since its 2013 listing. Mahmood Fawzy, 63, is redesignated from his independent and non-executive director position.

AwanBiru Technology Bhd (Awantec) has established a board oversight committee to oversee and provide guidance to the group's management team pending the appointment of a new chief executive officer (CEO).

Agmo Holdings Bhd, which is slated to list on the ACE Market of Bursa Malaysia on Aug 18, aims to raise RM22.1 million from its initial public offering (IPO). The home-grown digital solution and application development specialist said the majority of the proceeds will go towards research and development, sales, marketing and business development. The company also earmarked a sum for regional expansion in Singapore.

Integrated circuit (IC) design services and turnkey solutions provider Oppstar Bhd is seeking a listing on the ACE Market of Bursa Malaysia. Oppstar plans to use the capital raised from the IPO for its business expansion, the establishment of new offices, research and development expenditure and working capital. The board intends to recommend and distribute a dividend of at least 25% of its audited profit after tax.


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