Bursa highlights for Wed, April 27

Bursa highlights on April 27

* The boardroom disagreement at Lysaght Galvanized Steel Bhd has come to a boil. Liew Hoi Foo, which was not ousted at last year’s AGM as anticipated by many, has resigned from the board and stepped down as managing director. He will, however, serve the company as CEO until May 31 to facilitate a smooth transition. Read more

* Datasonic Group Bhd, which has already bagged a RM318.75mil contract to supply Malaysian passport chips, on Wednesday secured a RM223.38mil deal from the Home Affairs Ministry to supply Malaysian passport documents over the same five-year period starting Dec 1, 2016. Read more

* Tenaga Nasional Bhd’s earnings for the second quarter ended Feb 29, 2016, sank 38.7% to RM1.32bil from RM2.156bil it posted in the same quarter a year ago, due to higher operating expenses. Read more

* Malaysia Airports Holdings Bhd’s earnings were almost halved to RM17.01mil in the first quarter to March 31 compared with a year ago due to increased costs. Meanwhile, at its AGM on Wednesday, MAHB expects to resolve by year-end its dispute with Petronas Dagangan’s subsidiary on the concession to operate the KLIA aviation fuelling system. Read more

* MISC Bhd’s subsidiary Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) saw its earnings swing to the red with a net loss of RM7.58mil in the first quarter ended March 31, 2016, from net profit of RM36.03mil recorded a year ago. Read more

* The Finance Minister has given the go-ahead for MAA Group Bhd to sell its 75% equity interest in MAA Takaful Bhd (and Solidarity Group Holding to sell its 25% stake) to Zurich Insurance Company Ltd. Read more

* Seacera Group Bhd is proposing to buy property firm Duta Nilai Holdings Sdn Bhd, which owns a 250.24 acres in Ulu Langat, Selangor. for a total cash consideration of RM220mil. Read more

* Chip maker Malaysian Pacific Industries Bhd reported a strong set of financial results for the third quarter ended March 31, 2016, with its earnings up 29.2% to RM38.99mil but the board expects the operating environment to remain challenging. Read more

* Sofa and dining furniture maker SWS Capital Bhd has decided to venture into a totally different and generally-thankless business: public transport. It has acquired a 60.15% stake in bus service operator The Kulim-Baling Road Transport Co Sdn Bhd. Read more

* Kimlun Corp Bhd has received a RM98.3mil contract from Mah Sing Group for the construction of 492 houses in Mukim Plentong, Johor Baru. Read more

http://www.thestar.com.my/business/business-news/2016/04/28/bursa-highlights-for-april-27/