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KUALA LUMPUR (March 26): Based on today’s corporate announcements and news stream, companies in focus on Monday (March 29) may include Malayan Banking Bhd, Eastern & Oriental Bhd, Sime Darby Bhd, Kerjaya Prospek Group Bhd , Velesto Energy Bhd, IOI Corp Bhd, Cypark Resources Bhd, Malton Bhd, Kimlun Corp Bhd, Hai-O Enterprise Bhd, Oriental Holdings Bhd and Subur Tiasa Holdings Bhd.
Malaysian Banking Bhd (Maybank) has come forward as a third party to challenge the government’s seizure of approximately RM16 million from the wife and children of former Tabung Haji president Datuk Seri Abdul Azeez Abdul Rahim and his family-linked company. Of the 16 million ringgit in cash and assets, Maybank, through its lawyer Poh Choo Hoe, is trying to challenge the seizure of a parcel near Sunway Geo Avenue, however the value of the parcel is unknown. The forfeiture was filed in accordance with Section 56 of the Law against Money Laundering, Financing Against Terrorism and Proceeds from Illicit Activities.
Amazing Parade Sdn Bhd is making a mandatory takeover offer for Eastern and eastern bhd (E&O) at 60 sen per share after he bought a 10.89% stake from Sime Darby Bhd. E&O said it received a notice from the MGO of Amazing Parade, the private vehicle of the Tee brothers, who control the construction company. Bhd career prospects group. Meanwhile, Sime Darby said that he has dumped his last block of shares in E&O to Amazing Parade for RM93.5 million in cash. Its indirect wholly-owned subsidiary, Sime Darby Nominees Sdn Bhd, today entered into a share sale agreement to dispose of its entire stake in E&O, comprising 155.83 million common shares and representing approximately 10.89% stake. In E & O’s outstanding share capital stock, Amazing Parade a total cash consideration of RM93.5 million or 60 sen per share.
Velesto Energy Bhd has obtained a US $ 8 million (RM33.17 million) contract with ConocoPhilips Sarawak Ltd and ConocoPhilips Sarawak Oil Ltd for the provision of forklift drilling services. The group said the project, called NAGA 7, involves the drilling of up to three wells, and that work is tentatively scheduled to begin in the first half of 2021.
IOI Corp. BhdAssociate Bumitama Agri Ltd, owned 32.101%, said that the oil palm plantation company will continue to invest in its infrastructure and instead of expanding to new plantations, the group will start looking for replanting areas with below-average yields and higher than -expected costs to drive growth in fresh fruit bunch production to ensure efficient use of company assets.
Cypark Resources BhdThe company’s wholly owned unit received a 1,100 MW biogas quota at a palm oil plant in Johor. The group said that the wholly-owned Reviva Sdn Bhd received the quota in the Ulu Remis palm oil plant in Layang-Layang from the Sustainable Energy Development Authority of Malaysia, which will be sold at an approved rate set in the feeding fee.
Malton Bhd signed a memorandum of understanding with Ho Wah Genting Bhd (HWGB) to potentially acquire a 14% stake in its wholly-owned electric vehicle (EV) unit HWGB EV Sdn Bhd, the property developer said. Meanwhile, HWGB said that while Malton does not have any experience in the electric vehicle industry, it is believed that the experience and expertise of the latter’s local partners in the real estate industry will contribute to and strengthen the implementation of the electric vehicle project.
Engineering and construction service provider Kimlun Corp BhdNet income plummeted 71.39% to RM4.78 million for the fourth quarter ended December 31, 2020 (4QFY20), from RM16.71 million a year earlier, due to lower contributions from its construction, property and business divisions. investment. Quarterly revenues fell 24.59% to RM243.57 million, from RM322.97 million previously, due to lower revenues achieved by all business divisions. The group proposed a final dividend of one sen per share, the payment date of which will be announced later. For the full financial year, Kimlun’s net profit fell 86.32% to RM7.99 million from RM58.39 million in the previous year. Full-year revenue fell 42.45% to RM749.71 million from RM1.3 billion.
Hai-O Enterprise BhdNet income grew 35.32% year-on-year to RM10.28 million in the third quarter ended January 31, 2021 (3QFY21) from RM7.6 million a year earlier, thanks to better contributions from its wholesale and marketing divisions. multilevel. Stronger earnings, which came despite earnings relatively stable at RM 67.23 million, down from RM 67.02 million a year earlier, pushed earnings per share to 3.55 sen from 2 , 62 sen. During the first nine cumulative months of fiscal year 21, Hai-O’s net profit increased by 36.35% to RM30.90 million from RM22.66 million in the corresponding nine months of the previous year, while revenue grew by 1 , 56% to RM204.61 million from RM201. 47 million.
Oriental Holdings Bhd It said its net profit increased to RM103.12 million in the fourth quarter ended December 31, 2020 (4QFY20) from RM14.99 million in the previous quarter, thanks to the better performance of its plantation segment. Quarterly revenues increased 4.4% to RM990.2 million from RM948.22 million in 3QFY20 due to higher raw material prices and sales volume. On a year-over-year basis, Oriental Holdings 4QFY20 net profit increased 26.32% from RM 81.64 million in 4QFY19, while revenue fell 10.02% from RM 1.1 billion. For the full financial year, the group saw its net profit drop 67.44% to RM114.81 million, from RM352.6 million in the previous year. Full-year revenue fell 34.8% to RM3.36 billion from RM5.16 billion.
Subur Tiasa Holdings BhdNet profit for the second quarter ended January 31, 2021 increased 65.7% to RM3.65 million from RM2.2 million a year ago, due to the increase in crude palm oil prices. However, its quarterly revenue fell 0.25% to RM84.14 million from RM84.36 million a year ago, driven by its timber segment. For the cumulative semester ending January 31, 2021, the group’s net profit increased 108.27% to RM5.64 million from RM2.71 million a year earlier. Its revenue for the period, however, marginally fell to RM177.89 million from RM179.24 million a year earlier.
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