KUALA LUMPUR (March 15): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (March 16) may include the following: SCGM, BFood, Ekovest, TSR Capital, MyEG, Hai-O, Scomi, Digistar, Vizione, Gamuda, Malakoff and Trive Property.
SCGM Bhd experienced a marginal drop in its third quarter net profit at RM6.98 million or 5.29 sen per share for the period ended Jan 31, 2017 from RM7.05 million or 5.51 sen per share a year ago.
The lower earnings were due to higher cost of production resulting from an increase in resin price, higher depreciation of property, plant and equipment, and higher electricity consumption.
SCGM's revenue rose 23.4% to nearly RM46 million from RM37.3 million on higher local sales demand of plastic packaging products.
SCGM proposed a third interim single tier dividend of two sen for the financial year ending April 30, 2017 payable on April 14.
For the cumulative nine months ended Jan 31, 2017, net profit grew 7.08% to RM17.9 million from RM16.7 million for the previous corresponding period. Revenue expanded 24.6% to RM125.9 million from RM101.02 million.
Berjaya Food Bhd (BFood) posted a 36.83% fall in net profit for the third quarter ended Jan 31, 2017 to RM4.68 million or 1.25 sen per share, from RM7.4 million or 1.97 sen a year earlier.
The company mentioned that the lower net profit was mainly due to losses incurred by Kenny Rogers Roasters chain operation as a result of weak consumer sentiment in Malaysia as well as higher write down of fixed assets arising from the closure of certain non-performing restaurants.
Quarterly revenue, however, was up 11% to RM163.54 million from RM147.28 million a year ago on additional cafes operating in the current quarter.
The Starbucks coffee chain operator declared a third interim dividend of one sen per share for the financial year ending April 30, 2017 (FY17), payable on April 28.
For the cumulative first nine months of FY17, net profit fell 25.36% to RM14.71 million or 3.91 sen a share from RM19.71 million or 5.25 sen a share a year ago. Meanwhile, revenue rose 9.38% to RM454.02 million from RM415.1 million.
Ekovest Bhd announced that it has received the nod from Kuala Lumpur City Hall (DBKL) for a RM79 million “Blue River Project” contract.
“Our wholly-owned subsidiary EkoRiver Construction Sdn Bhd received a letter of intent from DBKL for its appointment as the design and build contractor to undertake the proposed 'Blue River Project' in the vicinity of the River of Life (ROL) Precint 7 — Masjid Jamek Kuala Lumpur Zone,” the company said in a filing.
The Blue River Project is part of the long-due ROL project spanning 10.7 km along the Klang River and Gombak River, of which Ekovest-Malaysian Resources Corp Bhd (MRCB) consortium was the project delivery partner (PDP) since 2011.
TSR Capital Bhd has bagged a RM119.74 million contract from the East Coast Economic Region Development Council (ECERDC) to build a port link road in Kuantan Port City, Pahang.
TSR said its wholly-owned subsidiary TSR Bina Sdn Bhd has accepted a letter of acceptance from ECERDC for the project under Package 3B, which includes constructing a toll plaza, trumpet interchange, Malaysia-China Kuantan Industrial Park (Phase 2) inner road and drainage diversion works.
The project's construction period is 130 weeks, commencing from the date of site possession.
My EG Services Bhd has joined forces with a Philippine company to develop electronic government services projects and provide electronic payment services in the Philippines.
The company signed an agreement today with payment processing provider and also direct agent of Philippines’ Western Union, i-Pay Commerce Ventures Inc (IPCVI) to establish a joint venture company with MyEG holding a 40% stake and IPCVI 60%.
"The joint venture company will enable MyEG to expand its geographical presence in the Asean region and open a new frontier where MyEG will be able to offer its expertise to operate government services and government-related services through the Internet," said MyEG in a filing with Bursa Malaysia.
MyEG added that this will enable the company to continue to grow its business organically and continue with its expansion plans to offer its services to new markets.
According to the terms set out in the agreement, MyEG will invest up to US$2 million in three tranches, said MyEG, adding that the investment will be fully funded by internally-generated funds.
Scomi Group Bhd is forming a joint venture company with a solar power firm Synergy Generated Sdn Bhd to bid for engineering, procurement and construction (EPC) contracts in the renewable energy sector, particularly for solar photovoltaic farms.
Scomi said the group will be the majority shareholder of this JV company with 51% interest while Synergy Generated will hold the remaining 49%.
“Besides EPC solutions, the JV company will also offer operation and maintenance services for solar projects,” it added in a statement today.
Meanwhile, Synergy Generated offers cost effective and innovative solutions in the field of large-scale solar photovoltaic power generation.
Digistar Corp Bhd has entered into an exclusive partnership with US-based technology provider React Mobile Ltd to offer a newly developed and comprehensive security solution called Panther Mobile in the Southeast Asia market.
Digistar said it has also entered into a collaboration with Celcom Axiata Bhd to connect the company's Panther911 Central Monitoring Station (CMS) via Celcom's M2M network platform.
At the same time, Celcom has appointed Digistar as a partner to market Celcom's postpaid and prepaid plans as a value-added service on top of the Panther Mobile security device to deliver real-time security services nationwide.
Digistar group chief executive officer Datuk Wira Lee Wah Chong said there are also plans to offer the service (Panther Mobile) in other Southeast Asian countries including Thailand, Indonesia, the Philippines over the next three years.
Vizione Holdings Bhd executive director Datuk Chai Woon Chet has resigned after barely two years in the post, citing his intention to pursue other interests.
Chai was appointed to the company's board of directors on March 5, 2014 and was re-designated as an executive director on May 29, 2015.
Chai is also the group managing director of XOX Bhd and Anzo Holdings Bhd and sits on the board of various other listed and private companies.
The validity of the letter of award to the Gamuda Bhd-led consortium chosen as project delivery partner for the RM46 billion Penang Transport Master Plan has been extended till Aug 31.
This is second extension of the LOA by the Penang government after the previous one, announced on July 29 last year, expired on Feb 28.
Gamuda holds a 60% stake in the consortium known as SRS Consortium. Its partners are Ideal Property Development Sdn Bhd and Loh Phoy Yen Holdings Sdn Bhd, which both own 20% stakes.
In a filing with Bursa Malaysia, Gamuda said the second extension made on Feb 28 was accepted by SRS today.
With its wholesale division hit by the weaker ringgit, Hai-O Enterprise Bhd is banking on its newly launched fashion and beauty business to bring in the money.
Speaking to reporters after the group’s extraordinary general meeting, Tan said fashion designer Prof Datuk Dr Choo Yeang Keat, better known as Jimmy Choo, will be appointed as the group’s adviser.
Tan said Hai-O is looking to build a fashion brand similar to Armani, offering mid- to high-end products.
Hai-O ventured into the fashion business after Choo was appointed as a non-independent and non-executive director last October.
Malakoff Corp Bhd’s wholly-owned subsidiary Tanjung Bin Energy Sdn Bhd has issued RM800 million worth of Sukuk Wakalah.
Malakoff said proceeds from the sukuk will be used for redemption of its outstanding junior term loan facility, totalling RM1.29 billion. The loan was in pursuant to the turnkey contract entered into in 2012, between Tanjung Bin Energy and Tanjung Bin Energy Issuer Bhd.
Malakoff said the sukuk is backed by an unconditional and irrevocable subordinated cash deficiency support from the company.
Trive Property Group Bhd is teaming up with China's Hubei Guang Bo New Energy Co Ltd to produce and market power generation systems.
Trive said it has entered into a Memorandum of Understanding (MoU) with Guang Bo to collaborate in the areas of research and development, production, assembly, distribution and marketing of power generation systems including the off-grid/grid-connected wind power generation system and the wind-solar complementary power generation system.
Under the MoU, the two companies will work together to promote and sell final products to the local market and export the balance to Organisation for Economic Co-operation and Development (OECD) and non-OECD countries.
http://www.theedgemarkets.com/my/article/scgm-bfood-ekovest-tsr-capital-myeg-hai-o-scomi-digistar-vizione-gamuda-malakoff-and-trive
