Axiata, Telekom, Capital A, Top Glove, T7, Nylex Malaysia, K-One, Pestech and KHI

Axiata, Telekom, Capital A, Top Glove, T7, Nylex Malaysia, K-One, Pestech and KHI

KUALA LUMPUR (Dec 14): Here is a brief recap of some corporate announcements that made news on Wednesday (Dec 14) involving Axiata Group Bhd, Telekom Malaysia Bhd, Capital A Bhd, Top Glove Corp Bhd, T7 Global Bhd, Nylex (Malaysia) Bhd, K-One Technology Bhd, Pestech International Bhd and Kein Hing International Bhd.

Axiata Group Bhd said its interim dividend of five sen per share and special dividend of four sen per share will be paid on Jan 20 with the ex-date on Dec 29 and the entitlement date on Dec 30. The special tax-exempt dividend was announced on Dec 6 following the completion of the Celcom-Digi merger on Nov 30.

Telekom Malaysia Bhd has announced an internal reorganisation, which involves the transfer of its business in Malaysia to a single operating entity named TM Technology Services Sdn Bhd (TM Tech), and is expected to complete by Dec 31, 2023. The reorganisation includes unifi, TM One and TM Wholesale and is aimed at improving its operational efficiencies, streamlining processes and simplifying customer touchpoints.

Capital A Bhd’s logistics venture Teleport has raised new growth capital of US$50 million (RM220 million) from large institutional credit investors to extend its delivery capabilities in Southeast Asia. The funds will be used to induct additional freighters, build critical hubs in Indonesia, the Philippines and Malaysia, and further invest in technology that allows anyone to "teleport it" in 24 hours across Southeast Asia. The logistics venture of Capital A is also currently serving Shopee, Lazada and Zalora.

Top Glove Corp Bhd has posted its second straight quarterly loss of RM168.24 million for the first quarter ended Nov 30, 2022, citing lower sales and the normalisation of average selling prices. Revenue dropped to RM632.53 million from RM990 million. No dividend was declared for the quarter. The softer performance was due to ongoing glove supply/demand imbalance, with a lack of urgency to place orders in light of excess production capacity within the glove industry.

T7 Global Bhd and Siemens Logistics Pte Ltd have won a contract to update the baggage handling system at Terminal 1 of KLIA. The new system will feature Siemens Logistics' VarioBelt belt conveyor with a higher storage capacity of 2,500 bag positions. T7 Kemuncak Sdn Bhd and Siemens Logistics will execute the project, awarded by Malaysia Airports (Sepang) Sdn Bhd, in three sections while the airport is in operation.

Nylex (Malaysia) Bhd has signed a Letter of Intent (LOI) with a unit of CRRC Corp Ltd, CRRC Changchun Railway Vehicles Co Ltd, on the construction of a light rail transport system in Johor Bahru. The LOI was part of Nylex's effort to complete its feasibility study. Under the LOI, CRRC Changchun agrees to undertake the project as turnkey contractor and recommends the use of the straddle monorail system for the project.

K-One Technology Bhd said its unit, K-One MediTech Sdn Bhd, has secured approval from the Ministry of Health’s Medical Device Authority (MDA) to distribute acne patches primarily used for quick healing and reducing redness or inflammation of acne. MDA approved the distribution and sale of the patches for a five-year period from Dec 13, 2022. The group will sell acne patches in Malaysia as an authorised representative of China-based acne patch manufacturer Wuhan Huawei Technology Co Ltd.

Pestech International Bhd through its subsidiary Pestech (Cambodia) Plc has signed a Memorandum of Understanding (MOU) with Cambodia-based Attwood Investment Group Co Ltd to produce two feasibility studies pertaining to the construction or ownership of solar-based assets in Cambodia. Under the MOU, the two companies will cooperate to complete the feasibility studies, and formulate the licence and approval strategy, while embedding the requirements of clean energy-generation. The two studies are located in the Pailin province of Cambodia and the Steung Hav Special Economic Zone

Kein Hing International Bhd reported a net profit of RM10 million for its second quarter ended Oct 30, 2022 from RM4.5 million a year ago, mainly due to higher revenue and foreign exchange gains. Revenue went higher from RM75.1 million to RM100.8 million, contributed by its Vietnam operation which experienced stronger customer demand for metal parts used in electronic products including printers, refrigerators and washing machines.

https://www.theedgemarkets.com/article/axiata-telekom-capital-top-glove-t7-nylex-malaysia-kone-pestech-and-khi