KUALA LUMPUR (July 26): Based on corporate announcements and news flow today, stocks in focus on Monday (July 31) may include: Sime Darby, XOX, Pos Malaysia, Tropicana Corp, Berjaya Assets, 7-Eleven, Kronologi, EcoFirst, Fajarbaru, Focus Dynamics and Orion IXL.
Sime Darby Bhd said its chairman Tan Sri Abdul Ghani Othman will assume the same post in Sime Darby Plantation Bhd, while its group chief executive officer (CEO) and president Tan Sri Mohd Bakke Salleh will become the plantation company's executive deputy chairman and managing director (MD).
Datuk Franki Anthony Dass, the current head of Sime Darby Plantation, will be taking on a new role as the company's chief adviser and value officer, while Renaka Ramachandran will be its chief financial officer (CFO). Permodalan Nasional Bhd group chairman Tan Sri Abdul Wahid Omar has also been named as chairman of Sime Darby Property Bhd.
Former Media Prima Bhd group MD Datuk Seri Amrin Awaluddin has been appointed as the property developer's MD, while Sime Darby's current group CFO Datuk Tong Poh Keow will be redesignated as Sime Darby Property's executive director and CFO.
Meanwhile, Sime Darby's deputy chairman Tan Sri Dr Wan Abdul Aziz Wan Abdullah has been promoted to become chairman of the leaner and more focused group itself, while Jeffri Salim Davidson will become its president and group chief executive.
At the same time, the group announced its two wholly-owned subsidiaries Sime Darby Motors and Sime Darby Industrial will continue to be led by MDs Datuk Lawrence Lee Cheow Hock and Scott William Cameron respectively. Sime Darby Logistics' MD is Timothy Lee Chi Tim.
Virtual mobile network operator XOX Bhd is partnering an Indonesian telecommunication services company to take its Voopee mobile solution to Indonesia.
XOX said its wholly-owned subsidiary XOX Media Sdn Bhd has entered into a memorandum of understanding (MoU) with PT Inovasi Telematika Nusantara and Pengurus Besar Nahdlatul Ulama (PBNU) to conduct a study, with plans to deploy the Voopee solution under the Nahdlatul Ulama branding to be adopted by PBNU members.
XOX said the MoU will remain in force for six months or until a commercial agreement is entered between the parties.
National postal and courier company Pos Malaysia Bhd has partnered Singapore-based e-commerce logistics and selling platform Anchanto to strengthen its e-commerce warehousing facilities.
Under the partnership, Pos Malaysia will use Anchanto's warehouse management technology to expand its ability in providing a comprehensive e-fulfilment service.
Anchanto's electronic warehouse management system will be integrated with Pos Malaysia's own processes to form an e-commerce fulfilment system.
Pos Malaysia group chief executive officer Datuk Mohd Shukrie Mohd Salleh said the initiative is expected to generate a new business stream in e-commerce fulfilment business.
"We hope to capitalise on the double digit growth of the e-commerce industry of between 15% and 20% in the coming years," he added.
The new platform will enable Pos Malaysia to provide an end-to-end service for its customers including warehousing and last-mile delivery by Pos Laju.
As such, Pos Malaysia's online sellers will also be able to use Anchanto's SelluSeller, a one-stop platform that enables merchants and enterprises to sell on various e-marketplaces across Asia.
Tropicana Corp Bhd has unveiled a new collection of homes dubbed Tropicana Urban Homes to offer more affordable houses to middle-income homebuyers.
During the launch of Tropicana Urban Homes, group CEO Datuk Yau Kok Seng said the developer targets to build 10,000 to 15,000 condominium units under the collection in strategic urban areas in the developer's existing and new landbanks over the next five years.
Tropicana Corp expects Tropicana Urban Homes, a new collection of affordable condominiums, to contribute RM2 billion sales in the next two years.
The gross development values for Tropicana Urban Homes in Tropicana Heights and Tropicana Aman are RM423 million and RM1.3 billion, respectively.
Berjaya Assets Bhd has acquired an additional 1.32% equity interest in 7-Eleven Malaysia Holdings Bhd for RM18 million.
Berjaya Assets said its wholly-owned unit Sublime Cartel Sdn Bhd acquired the stake, comprising 14.63 million shares, at an average price of RM1.23 per share in the open market between June 8 and July 26.
Following the acquisition, Berjaya Assets' stake in 7-Eleven amounts to 3.95% or 43.9 million shares.
Kronologi Asia Bhd saw the net profit for its second quarter ended June 30, 2017 more than double to RM4.1 million from RM1.7 million a year ago.
Similarly, revenue increased by 227.1% to RM48.3 million from RM14.8 million.
Kronologi said growth continues to be powered by strong activity in the enterprise data management infrastructure business, although the product mix during the quarter included lower margin products.
EcoFirst Consolidated Bhd's net profit for the fourth quarter ended May 31, 2017 rose by about 13 times to RM7.77 million or 0.97 sen per share from RM608,000 or 0.08 sen per share a year ago.
The property developer attributed the jump mainly to contribution from the development of Upper East at Tiger Lane in Ipoh and Liberty project at Ampang Ukay.
Recurring income from the group's two malls also helped in its improved performance for the quarter.
Revenue grew 49.8% to RM65.5 million from RM43.8 million.
Fajarbaru Builder Group Bhd has secured a RM101.3 million contract to complete the remaining building works of a commercial development for TYL Land & Development Sdn Bhd.
Its wholly-owned unit Fajarbaru Builder Sdn Bhd secured the letter of acceptance for the job from TYL Land.
The 27-month contract is expected to contribute positively towards Fajarbaru's earnings and net assets for its 2018 to 2020 financial years, the group said.
Fajarbaru also said it has accepted a letter of award from Malaysia Aiports (Sepang) Sdn Bhd in respect of the proposed apron line marking, access road connection and associated works at KLIA Air Cargo Terminal 1.
The contract, which is valued at RM705,000, will last for 120 days, commencing Aug 1.
Focus Dynamics Group Bhd is revising its previous proposed renounceable rights issue involving some 1.25 billion new shares with up to 622.69 million free detachable warrants to include the issuance of irredeemable convertible preference shares (ICPS) as it will not have an immediate dilution effect on the groups' earnings per share (EPS).
Focus Dynamics said it is proposing a renounceable rights issue of up to 1.25 billion Focus ICPS with up to 207.56 million free detachable warrants (Warrants D) on the basis of six ICPS together with one free Warrant D for every six existing Focus shares.
Focus Dynamics said the proceeds raised from the exercise will be used to develop a mixed commercial development which will feature retail and food and beverage lots, event halls, restaurants, a karaoke centre and carparks along Jalan Tun Razak-Royal Selangor Golf Club in Kuala Lumpur.
Orion IXL Bhd has been informed by its target acquisition ASAP Bhd that a suit has been filed against ASAP by Sporty Beans Sdn Bhd.
Sporty Beans is claiming that ASAP had entered into a joint venture agreement with the former to design, develop, deploy and launch an e-portal for it, and ASAP had breached the agreement.
"The plaintiff (Sporty Beans) is claiming for RM45.41 million for loss of profits as a result of the alleged breach of agreement by ASAP," it said.
The vendors of ASAP — Datuk Mohamad Sharaff Mohd Shariff, Prabuddha Kumar Pronob Chakravertty and Lilibeth Gamboa Beliario — agreed to fully indemnify Orion IXL against all claims, actions, damages, losses, liabilities, costs and expenses that Orion IXL or ASAP may incur, suffer or be liable for in connection with the case filed by Sporty Beans.
http://www.theedgemarkets.com/article/sime-darby-xox-pos-malaysia-tropicana-corp-berjaya-assets-7eleven-kronologi-ecofirst
