Serba Dinamik, Gamuda, TNB, GDB, Apollo, Yinsin, Microlink, Sports Toto, Classita, Citaglobal, Mudajaya and Mynews

Serba Dinamik, Gamuda, TNB, GDB, Apollo, Yinsin, Microlink, Sports Toto, Classita, Citaglobal, Mudajaya and Mynews

KUALA LUMPUR (Dec 22): Here is a brief recap of some corporate announcements that made news on Thursday (Dec 22) involving Serba Dinamik Holdings Bhd, Gamuda Bhd, Tenaga Nasional Bhd, GDB Holdings Bhd, Apollo Food Holdings Bhd, Yinson Holdings Bhd, Microlink Solutions Bhd, Sports Toto Bhd, Classita Holdings Bhd, Citaglobal Bhd, Mudajaya Group Bhd and Mynews Holdings Bhd.

Troubled oil and gas engineering firm Serba Dinamik Holdings Bhd is poised to see its shares suspended from trading on Friday (Dec 23) due to its failure to submit its annual report for the financial year ended June 30, 2022. The issuance of the annual report has been delayed as the board of directors are still working on resolving the outstanding audit fees issue with the external auditors.

Gamuda Bhd via Gamuda Australia has bagged a major road transport project from the New South Wales government worth A$1.029 billion (RM3.03 billion). A 60:40 joint venture of John Holland and Gamuda Australia was awarded the contract to deliver the Black Hill to Tomago Package of Works for the M1 Motorway Extension to Raymond Terrace. Gamuda said the construction group expects revenue of RM1.21 billion from the project.

Tenaga Nasional Bhd (TNB) has inked a Memorandum of Understanding with three firms to conduct studies on alternative fuel sources, generation and chains in the energy transition towards carbon neutrality by 2050. TNB’s wholly-owned subsidiary TNB Fuel Services Sdn Bhd signed the MOU with MNA Fuel Services Sdn Bhd, Itochu Malaysia Sdn Bhd and Cement Industries of Malaysia Bhd.

GDB Holdings Bhd has secured a RM247 million design-and-build contract to construct a logistic hub in the Bandar Bukit Raja 2 Industrial Park in Klang. Its unit Grand Dynamic Builders Sdn Bhd had accepted a Letter of Award from SDPLOG 1 (Industrial Asset I) Sdn Bhd, a wholly owned subsidiary of SDPLOG 1 (MY Holdings) Sdn Bhd and established under the Sime Darby Property - LOGOS Property Industrial Development Fund 1 LP.

Apollo Food Holdings Bhd's net profit jumped over 10 times year-on-year for the second quarter ended Oct 31, 2022 on stronger sales and low base effect, after earnings were hit by Covid-19 disruptions in the same quarter last year. Net profit rose to RM9.46 million from RM888,000, while revenue increased 87% to RM70.3 million from RM37.64 million. For the first half of FY2022, net profit was 13 times higher at RM14.02 million from RM1.06 million in the previous corresponding period, while revenue rose 64% to RM125.76 million from RM76.65 million.

Yinson Holdings Bhd's net profit rose 58.16% to RM155 million for its third quarter ended Oct 31, 2022, from RM98 million a year earlier, mainly due to higher contribution from its engineering, procurement, construction, installation and commissioning business activities. Revenue jumped 11.83% to RM1.73 billion from RM820 million previously. For the first nine months of FY2023, Yinson's net profit increased 24.4% to RM418 million from RM336 million while revenue rose 52.2% to RM4.36 billion from RM2.87 billion.

Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah has emerged as a substantial shareholder of Microlink Solutions Bhd with a 10.76% indirect equity interest.  This is by virtue of his shareholding in Gading Sari Ventures Sdn Bhd, which has acquired 115 million shares in the customised turnkey software and system solutions provider from Omesti Bhd for RM63.25 million, or an average of 55 sen apiece.

Sports Toto Bhd said its 88.26%-owned subsidiary Berjaya Philippines Inc has reduced its shareholdings in Redtone Digital Bhd to realise part of its investments. Berjaya Philippines disposed of 9.6 million shares or a 1.24% stake in Redtone Digital for RM4.8 million based on the agreed price of 50 sen a share.

Classita Holdings Bhd (formerly known as Caely Holdings Bhd) has appointed Spring Gallery Bhd's former executive director, Datuk Kuan Poh Huat, as its new executive director. Kuan is currently a director of Skyline Works Sdn Bhd and Paris Dynasty Land Sdn Bhd, both wholly-owned subsidiaries of Harvest Miracle Capital Bhd.

Citaglobal Bhd is exiting its bauxite mining venture under SE Satu Sdn Bhd to focus on a portfolio of businesses that include civil engineering and construction, oil and gas, power generation, property development, manufacturing and renewable energy. It will divest its entire 49% stake in SE Satu to Spring Energy Sdn Bhd for RM4.8 million.

Mudajaya Group Bhd has decided not to proceed with a small hydro project that it secured approval from the authorities two years ago, after internal feasibility studies showed that it could not meet the group’s “investment threshold”. It had announced in December 2020 that the feed-in approval certificate for the project was secured by its 76%-owned Bera Hydropower Sdn Bhd from the Sustainable Energy Development Authority after Bera Hydropower successfully tendered for the project.

Mynews Holdings Bhd reported a net profit of RM1.37 million for its fourth quarter ended Oct 31, 2022, compared with a net loss of RM9.03 million a year earlier, mainly contributed by an improvement in sales mix and higher margin of the CU convenience store business. Revenue increased 84.53% to RM180.60 million from RM97.87 million, thanks to new outlets, longer business hours as well as an improvement in the overall in-store sales. For FY2022 as a whole, the group's net loss narrowed by 57.95% to RM18.17 million from RM43.21 million in FY2021, despite  revenue improving to RM631.33 million from RM394.37 million.

https://www.theedgemarkets.com/node/649337