[ad_1]
KUALA LUMPUR (September 17): Based on today’s corporate announcements and news stream, the stocks in focus on Friday (September 18) may include: UEM Sunrise Bhd, Daibochi Bhd, Sapura Energy Bhd, Petronas Gas Bhd, Advancecon Holdings Bhd, ACO Group Bhd, Top Glove Corp Bhd and Sino Hua-An International Bhd.
EMU Sunrise Bhd achieved more than RM400 million in sales and bookings in less than two months after the launch of its ‘The Happy Chase’ campaign, which will run until May 31, 2021. The campaign is the group’s response to improving reintroduction of the Government of the Homeownership Campaign as part of the Short-Term Economic Recovery Plan (Penjana) following the Movement Control Order to stop the spread of the COVID-19 pandemic.
Packaging manufacturer Daibochi Bhd posted a net profit of RM11.22 million and revenue of RM155.77 million for 4QFY20. There are no comparable figures as the company changed the end of the financial year from December 31 to July 31 to coincide with the end of the financial year for its holding company, Scientex Bhd. For fiscal year 20, the group posted a net profit of RM47.67 million on revenue of RM619.28 million.
Sapura Energy Bhd ‘s wholly owned subsidiaries and joint ventures (JVs) have been awarded contracts and contract extensions with a combined value of approximately RM840 million in Mexico, Brazil and the Ivory Coast. The Mexico and Brazil contracts involve engineering and construction work, while the Ivory Coast contract involves a drilling project.
Petronas Gas Bhd It said its 65% -owned subsidiary Pengerang LNG (Two) Sdn Bhd (PLNG2) had today filed the latter’s proposed Islamic bonds under the sukuk murabahah program with the Securities Commission. The group intends to raise funds for, among other things, the reimbursement of shareholder advances.
Advancecon Holdings BhdAdvancecon Infra Sdn Bhd’s wholly owned unit has been designated to undertake the construction and completion of the subgrade and related works for the East Coast Rail Link project for RM29.79 million. The latter, which is primarily engaged in the provision of earthmoving and public works services, has today accepted the subcontract acceptance letter from the project’s main contractor, China Communications Construction (ECRL) Sdn Bhd.
ACO Bhd Group, a distributor of electrical products and accessories, plans to buy a 49% stake in Focus Electrical Malaysia Sdn Bhd (FEMSB) for RM7.35 million. His group’s managing director, Tang Pee Tee @ Tan Chang Kim, said the proposed acquisition will help listed company ACE expand its market reach to more states in Peninsular Malaysia.
Top Glove Corp Bhd has posted its best quarterly net profit of RM1.29 billion in 4QFY20, which is almost 18 times the RM74.17 million recorded last year. Quarterly revenue increased 161.5% to RM3.11 billion from RM1.19 billion in 4QFY19. The rubber glove maker said the tremendous growth was due to a global surge in demand for gloves in the wake of the COVID-19 pandemic. For fiscal year 2020, Top Glove’s net profit increased 412% to RM1.87 billion, from RM364.68 million last year, while revenue increased 50.72% to RM7.24 billion, from RM4.8 thousand millions.
Meanwhile, Top Glove CEO Tan Sri Dr Lim Wee Chai said the group is planning to list in Hong Kong by 2021 to improve the rubber glove maker’s investor reach and diversify its investor base. On another note, the group also hopes to resolve the arrest warrant imposed by United States Customs on its subsidiaries by the end of this year.
Sino Hua-An International Bhd (Hua-An) unit, Touchpoint International Sdn Bhd, signed an agreement with Technische Investment (PTY) Ltd for the use and marketing of a mobile application called SnappiStore App (SSA). Touchpoint on Tuesday (September 15) entered into a software license and service agreement with Technische, which is a South African-based company offering online ordering services, payment processing services, and delivery services.
[ad_2]
