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KUALA LUMPUR (Jan 5): Based on today’s corporate announcements and new flow, the following companies are likely to be in focus tomorrow, Wednesday (Jan 6): Eonmetall Group Bhd, Cymao Holdings Bhd, Top Glove Corp Bhd, KPower Bhd, Minho (M) Bhd, MCT Bhd, Ecobuilt Holdings Bhd, ATA IMS Bhd and Kimlun Corp Bhd.
Eonmetall Group Bhd plans to get rid of a parcel of land in mainland Penang with a building erected on it for RM58.8 million. The group said it expects to incur a profit of RM4.34 million from the sale of the 62,887-square-meter land located in the Valdor industrial area in southern Seberang Perai. Eonmetall said that its subsidiary Eonmetall Industries Sdn Bhd entered into the purchase and sale agreement with the buyer, Power Portal Sdn Bhd, today. Expect the removal to be completed in the second quarter of 2021.
Cymao Holdings Bhd, whose shares were up 28% today, has received an unusual market activity (UMA) inquiry from Bursa Malaysia. Bursa Malaysia asked Cymao to declare if there are any corporate developments that have not been announced that could be the reason for the increase. The company was also asked if there are rumors surrounding Cymao’s business that could explain the high commercial activity.
Top Glove Corp Bhd Chairman and founder Tan Sri Dr Lim Wee Chai bought 3.62 million shares at an average price of 5.5217 yuan per share, or 19.99 million yuan in total, on January 4, the first trading day of the year 2021, when its share price plummeted as it became the target of regulated short selling. The latest share purchase raised Lim’s direct interest to 2.11bn shares or a 26.25% stake. It also has an indirect stake of 691.82 million shares or 8.62%, according to the company’s presentation to Bursa Malaysia. Meanwhile, the Employee Provident Fund acquired 3.42 million shares on December 30, bringing its direct stake to 5.32% or 426.54 million shares in Top Glove.
KPower Bhd signed an agreement to supply polymerase chain reaction (PCR) tests for Covid-19 in Indonesia for a minimum contract price of US $ 6 million (RM24.05 million). The group said its wholly owned subsidiary KPower Healthcare & Technologies Sdn Bhd was awarded the PT Area Cahaya Medika contract. PT Arna will place a purchase order with the KPower subsidiary and the latter will order the kits from an authorized manufacturer and deliver the kits. kits to PT Arna’s warehouse in Jakarta.
KPower also said that it will acquire a 70% stake in Granulab (M) Sdn Bhd for RM1 million from Sirim Bhd’s wholly owned subsidiary, Sirim Tech Venture Sdn Bhd. Granulab is a “Granumas” gradual synthetic bone graft medical device manufacturing company. KPower said the acquisition is part of its overall strategy to expand its business into health and technology-related activities that can generate long-term revenue growth and revenue sustainability.
Minho (M) Bhd It said its papermaking subsidiary temporarily halted operations for four days after 21 workers at its facilities tested positive for Covid-19 on Dec. 31. 96 workers due to the coronavirus. Subsequently, the subsidiary halted operations from January 1-4 for cleaning and disinfection, while those affected were isolated in a designated quarantine center.
MCT Bhd is looking to launch seven new developments, worth RM2.2 billion this year. With residential units and commercial projects, launches include Aetas Damansara at Tropicana Golf & Country Resort, Damansara; Alira in Metropark, Subang; and Sanderling Lakefront Residences in Cyberjaya. Other projects include a boutique shopping center on Lakefront Cyberjaya; the inaugural phase of the Cybersouth Town Center in Dengkil; and new residential developments at USJ Subang and Cybersouth.
Ecobuilt Holdings Bhd has been awarded a RM 72.32 million contract to undertake the construction of a commercial and retail suites project in Kota Kinabalu. The group’s wholly owned subsidiary, E&J Builders Sdn Bhd, has been appointed prime contractor for the project by VTS Property Builders Sdn Bhd. The development includes three commercial suite blocks and a podium parking lot, in addition to commercial and office space.
ATA IMS Bhd, which is based in Johor Bahru, has temporarily closed operations of all its factories due to a high daily number of Covid-19 infections. The group said the shutdown has been in effect since December 31 and will last until January 7. He said the temporary shutdown is not expected to have a significant financial impact as he has contacted his clients and taken the necessary actions to reschedule production. for production and deliveries to be scheduled again in the next two weeks.
Kimlun Corp BhdThe unit plans to purchase a 11.12 acre wholly owned commercial land in Bandar Seri Alam, Johor Baru for RM40.5 million. The group said its indirect subsidiary Kii Melodia Sdn Bhd had agreed to acquire the land from Seri Alam Properties Sdn Bhd, the developer of Seri Alam Township and a subsidiary of United Malayan Land Bhd. Purchase consideration translates to approximately RM83.61 per square foot.
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