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KUALA LUMPUR (Dec 24) – Based on today’s corporate announcements and news stream, companies that may be in focus next Monday (Dec 28) include Supermax Corp Bhd, Yinson Holdings Bhd, MTD ACPI Engineering Bhd, Telekom Malaysia Bhd, KTG Bhd, Komarkcorp Bhd, WCT Holdings Bhd, Johan Holdings Bhd, Wegmans Holdings Bhd, Lambo Group Bhd and Cymao Holdings Bhd.
Supermax Corp Bhd has issued a scam alert, saying that certain unauthorized parties are taking advantage of the global glove shortage and Supermax’s prominence and good reputation to attempt and commit fraud.
He said that there are parties claiming to be involved in the sale and marketing of nitrile and latex gloves, as well as other personal protective equipment produced by Supermax and its subsidiaries Supermax Glove Manufacturing Sdn Bhd, Maxter Glove Manufacturing Sdn Bhd, Maxwell Glove Manufacturing Bhd and Supervision. Optimax Sdn Bhd.
Yinson Holdings BhdThe wholly owned subsidiary, Yinson Renewables (S) Pte Ltd, has completed the acquisition of an additional 57.5% stake in the share capital of Rising Sun Energy Pvt Ltd (RSE).
Yinson said RSE is a company incorporated in India with two operational solar plants in Bhadla Solar Park, Rajasthan. He added that the company acquired a 37.5% stake in RSE in March.
Yinson Renewable Energy Division Chief Executive Officer David Brunt said the acquisition provides a solid platform to grow the company’s renewable energy business in India.
MTD ACPI Engineering Bhd It said its MTD Construction Sdn Bhd unit won a tender for the proposed rehabilitation of the pavement and associated works on the East Coast Expressway 2. The RM3.85 million contract begins on December 29 and is due to be completed on March 28, 2021.
Telekom Malaysia Bhd(TM) TMpoint Taipan’s store in Subang Jaya has reported a new positive case of Covid-19. TM said the case was confirmed on December 23, and that the employee is currently receiving treatment at a government hospital.
TM said it has taken immediate steps to close the TMpoint Taipan establishment until December 29 for disinfection and sanitation in accordance with guidelines set by the Ministry of Health.
Manufacturer of ceramics and pottery products KTG Bhd, formerly known as DWL Resources Bhd, plans to enter the glove making business. KTG said its wholly-owned unit APPI Sdn Bhd signed a memorandum of understanding today with Howellcare Industries Sdn Bhd, a company involved in the manufacture of latex and nitrile examination gloves.
KTG said the contract price is RM54.8 million and will be paid in cash.
Komarkcorp Bhd has proposed to carry out a division of shares that implies the subdivision of every 10 existing shares in the company into 18 shares.
In the maximum scenario, the group would see 461.03 million shares subdivided into 829.85 million divided shares.
WCT Holdings Bhd said it has signed an agreement with MRCB George Kent Sdn Bhd (MRCBGK) following the latter’s appointment as turnkey contractor for the Light Rail Transit 3 (LRT3) project, which involves a review of the scope of the works and a new price of RM819 million contract.
WCT said the review relates to the GS02 and GS03 packages, which were previously awarded to WCT in 2017 with contract sums of RM840 million and RM640 million respectively.
However, following changes to the design and scope of the LRT3 project, both WCT and MRCBGK agreed on a new revised contract price of RM819 million. The completion date for the LRT3 project has also been revised to November 30, 2023, WCT said.
Johan Holdings Bhd is selling its credit card business at a loss in Singapore for S $ 103.59 million (RM313.98 million).
The group said it is selling its 100% stake in Diners Club (Singapore) Pte Ltd (DCS) and DCS subsidiary DinersPay Pte Ltd (DPPL) to Ezy Net Pte Ltd, a secure provider of end-to-end electronic payment solutions. extreme in the Singapore Market.
After the proposed arrangement is complete, Johan said the group’s intention is to continue its remaining business segments. He added that it could potentially diversify into the manufacture of gloves and other health-related products.
Home Furniture Manufacturer Wegmans Holdings Bhd is acquiring a 90% stake in the manufacturer of screws, nuts and spare parts Wison Screw Industries Sdn Bhd (WSI) for RM16.2 million, as part of its expansion strategy. The consideration for the purchase will be settled by issuing new shares.
Wegmans said that the products manufactured and marketed by WSI are primarily used in the furniture industry.
Lambo Group Bhd has proposed to carry out a private placement of up to 775.06 million shares to raise up to RM24.8 million, to be used primarily for its wine business.
The proposed private placement is expected to be completed in the first quarter of 2021.
Plywood Product Manufacturer Cymao Holdings Bhd has proposed to diversify into the construction and project management business. The group said it plans to explore new business opportunities to reduce its dependence on the plywood business.
Cymao, which generates losses, expects the construction business to contribute more than 25% of its net profit in the future.
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