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Singapore Investment


KPJ Healthcare, KAB, Tex Cycle, Ge-Shen, Bioalpha, Edelteq, Bank Muamalat, Petronas, Glostrext, MST Golf, Sapura, DNeX and PRG

KUALA LUMPUR (June 7): Here is a brief recap of some corporate announcements that made the news on Wednesday (June 7) involving KPJ Healthcare Bhd, Kejuruteraan Asastera Bhd, Tex Cycle Technology Bhd, Ge-Shen Corp Bhd, Bioalpha Holdings Bhd, Edelteq Holdings Bhd, Bank Muamalat Malaysia Bhd, Petroliam Nasional Bhd, Glostrext Bhd, MST Golf Group Bhd, Sapura Energy Bhd, Dagang NeXchange Bhd and PRG Holdings Bhd

KPJ Healthcare Bhd has appointed Datuk Mohamad Farid Salim as its chief operating officer. Mohamad Farid will assume responsibility for overseeing all operational aspects of KPJ Healthcare, placing a strong emphasis on supply chain management and customer service. He has 30 years of experience within the group.

Kejuruteraan Asastera Bhd's (KAB) change of  name to Kinergy Advancement Bhd took effect on June 2 following the receipt of the relevant notice from the Companies Commission of Malaysia. The new name was proposed on April 6, signifying the company's commitment to expand its sustainable energy solutions business regionally.

Ex-Johor state exco Datuk Tee Siew Kiong has been appointed as an independent director of Tex Cycle Technology Bhd. Tee replaces Datuk Yeo Chun Sing who resigned “due to personal commitments”. Tee also holds the position of independent director of Ge-Shen Corp Bhd.

Meanwhile, Ge-Shen Corp Bhd's newly appointed executive directors Lee Hai Peng and Keh Chuan Seng have bought shares in the plastic injection moulding and metal stamping group. Lee acquired 4.2 million Ge-Shen shares, representing a 3.81% stake, for RM6.72 million via a direct business transaction on Tuesday (June 6). Keh, meanwhile, has an indirect stake of 27.91% or 30.8 million shares in Ge-Shen. These shares were acquired by his property firm Frazel Group Sdn Bhd  via a direct business transaction on Tuesday for RM49.28 million.

Bioalpha Holdings Bhd said Tan Sri Dr Syed Jalaludin Syed Salim, 79, has retired from his non-executive chairman position. Formerly the longest- serving chairman of Bank Rakyat Malaysia and the founding director of the Capital Market Development Fund Board, Syed Jalaludin retired at the conclusion of the group's 12th annual general meeting.

Engineering support provider for integrated circuit assembly and test processes Edelteq Holdings Bhd made a strong debut on the ACE Market of Bursa Malaysia on Wednesday, opening at 75 sen, a 51 sen or 212.5% premium from its initial public offering (IPO) price of 24 sen. Upon closing, its share price retreated to 73 sen, giving it a closing premium of 204.17%, and was the third most active stock with a trading volume of 104.52 million.

Bank Muamalat Malaysia Bhd posted a 41.58% increase in net profit to RM222.78 million for the financial year ended Dec 31, 2022 (FY2022), compared with RM157.35 million a year earlier, driven by increased distributable income and robust financing growth. The group said that distributable income increased by 19.6% as a result of an increase in total gross financing assets. It added that total overheads and expenditures increased by 12.8% to RM452.8 million in tandem with business growth. Based on the audited financial report for FY2022 on its website, Bank Muamalat saw total revenue of RM1.34 billion, up 17.82% from RM1.14 billion for FY2021.

Petroliam Nasional Bhd (Petronas) reported a profit after tax (PAT) of RM23.8 billion for its first quarter ended March 31, 2023 (1QFY2023), a 2% increase from RM23.4 billion a year earlier owing to higher interest income and lower taxation. The group’s quarterly revenue expanded 16% to RM90.4 billion in 1QFY2023 versus RM78.2 billion in 1QFY2022, largely due to improved sales volumes and favourable impact from foreign exchange. Petronas anticipates lower profitability in 2023 in their report.

Glostrext Bhd, a geotechnical instrumentation service provider, has signed an underwriting agreement with M&A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia Securities Bhd. Glostrext said the IPO involves a public issue of 105.83 million new shares, representing 26% of its enlarged share capital, and an offer for sale of 16.28 million existing shares by way of a private placement to selected investors. Notable projects from the group include Petronas Twin Towers, Merdeka PNB 118; Tuas Water Reclamation Plant and Fire Station No 2 for Changi East at Changi Airport in Singapore; and Naga 3 Integrated Entertainment Complex in Phnom Penh, Cambodia.

MST Golf Group Bhd, Malaysia’s largest chain of golf specialty retailers formerly known as MST Golf (Asia) Sdn Bhd, has signed an underwriting agreement with RHB Investment Bank Bhd pursuant to its IPO and intended listing on the Main Market of Bursa Malaysia. The IPO would entail the issue of 228 million ordinary shares in the company, comprising a public issue of 160 million new shares, an offer for sale of up to 68 million existing shares. The group is expected to launch its prospectus by the end of June.

Cash-strapped Sapura Energy Bhd and its 22 wholly-owned subsidiaries granted nine month extension, until March 10, 2024, of the granted restraining orders. The group shared that the extension is necessary to finalise the group's proposed restructuring schemes with its financiers and other creditors to resolve its unsustainable debt and overdue payables. The process includes reaching an accord on the amount of  potential sustainable debt going forward, paring down the outstanding liabilities through the potential divestment of Sapura’s stake in its associate company (SapuraOMV Upstream Sdn Bhd), and options such as the issuance of debt-to-equity financial instruments as one of the methods for resolution.

Revenue Group Bhd has proposed a private placement of not more than 10% of its issued shares to raise up to RM24.31 million — with RM13.17 million mainly for their working capital. The placement entails the issuance of up to 53.32 million new shares to independent third-party investors, with their issue price being determined separately. The group expects the private placement to be completed by the fourth quarter of 2023.

Dagang NeXchange Bhd (DNeX)’s subsidiary Innovation Associates Consulting Sdn Bhd (IAC) has launched a new cloud-based financial and accounting application for enterprise resource planning called the Government Agencies Digital System (EGADS). EGADS — an accrual-based accounting system — allows for accountability and transparency on the management of public resources, while enabling better financial management by viewing government assets and liabilities.

A unit of PRG Holdings Bhd — Measurement & Verification Pte Ltd (a wholly-owned subsidiary of Furniweb Holdings Berhad, which in turn is a 50.45%-owned subsidiary of PRG) — has obtained two contracts with a combined value of RM20 million from Obayashi Singapore Private Limited and Marina Bay Sands Pte Ltd.


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