KUALA LUMPUR (Oct 12): Based on corporate announcements and news flow today, companies that might be in focus on Friday (Oct 13) include the following: GETS Global Bhd, Petronas Dagangan Bhd, Johan Holdings Bhd, Wintoni Group Bhd, Sunway Real Estate Investment Trust, Atlan Holdings Bhd, Kumpulan Jetson Bhd, Chin Hin Group Bhd and Cam Resources Bhd.
GETS Global Bhd has entered into a Memorandum of Understanding with Putrajaya Leisures & Services Group Sdn Bhd (PULSE Group) to discuss the proposed acquisition of a 79.99% stake in a Putrajaya public transport service provider.
The acquisition would provide the company with an opportunity to venture into city bus services, which is a new sustainable business to complement its existing business activities of express bus services, new bus sales, and repair and maintenance services.
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Petronas Dagangan Bhd entered into a partnership with Malaysian Green Technology Corporation and TNB Energy Services Sdn Bhd (a wholly-owned subsidiary of Tenaga Nasional Bhd) to install 100 electric vehicle charging stations, ChargEV, by 2018.
The tripartite partnership is to collectively increase commitments towards achieving Malaysia's overall emission reduction target while catalysing the green economy initiative.
Petronas Dagangan said it will also explore strategic partnership to increase the number of ChargEV gradually, in tandem with market demand.
Johan Holdings Bhd chief executive Tan Sri Tan Kay Hock and his wife Puan Sri Tan Swee Bee have upped the offer price for Johan shares that they do not own to 26 sen per share, from 25 sen previously.
The company said the couple via their vehicle Mustika Manis Sdn Bhd had acquired a further 15 million Johan shares, representing a 2.41% stake at 26 sen per share today, for a total of RM3.9 million in cash.
Wintoni Group Bhd's executive director Cheah Kwong Lee has applied to set aside the winding-up order issued by the High Court on the company on Aug 17.
Wintoni said Cheah claimed that the Penang-based company was not given any notice of the winding-up process.
"In particular, it was not served with the statutory demand under section 466(1)(a) Companies Act 2016, it was not served with the petition and it was not served with a copy of the order," Cheah stated in his application.
Sunway Real Estate Investment Trust (SunREIT) said its trustee RHB Trustees Bhd has subscribed to its substantial unitholder Sunway Bhd's one-month commercial paper that carries a nominal value of RM60 million.
The subscription, at a discount rate of 3.8% per annum, followed the maturity of an earlier one that was announced on Sept 12.
SunREIT said investment in money market instrument that offers the most competitive discount rate is in line with its active capital management strategy.
Atlan Holdings Bhd’s net profit for the second quarter ended Aug 31, 2017 grew marginally by 0.6% to RM9.64 million from RM9.59 million a year ago.
Revenue eased 0.1% to RM199.36 million from RM199.63 million.
The duty-free store operator and precision mechanical components manufacturer said the lower revenue and higher operating expenses were mitigated by an increase of more than three times in its other operating income.
Atlan announced a second interim dividend of five sen, which will be paid on Nov 15.
Kumpulan Jetson Bhd said its 51%-owned unit has bagged a subcontract worth RM76.35 million to build two blocks of serviced apartments in Bukit Jalil.
Jetson ARDC Sdn Bhd was awarded the job by China State Construction Engineering (M) Sdn Bhd. It involves the development of 709 apartment units with carparks and office units.
Kumpulan Jetson said the project is expected to contribute positively to the earnings of the group for the financial years ending 2017 to 2020.
Building materials maker Chin Hin Group Bhd said its unit Diva Victory Sdn Bhd plans to spend RM3 million to buy equipment to set up a high and ultra-high performance concrete manufacturing plant.
“DVSB intends to engage into the business of research and development of products using high and ultra-high performance concrete.
“The proposed acquisition enables DVSB to acquire the necessary tools and equipment for the developing and manufacturing of architectural high and ultra-high performance products to the market,” Chin Hin said.
Cam Resources Bhd’s wholly-owned unit Future Atlas Sdn Bhd, which would be selling renewable energy to Tenaga Nasional Bhd in 2019, plans to build its 2MW biogas plant at a cost of RM19.8 million.
The aluminum and stainless steel kitchenware maker said the project is expected to be completed in May 254, 2019, which is the scheduled feed-in tariff (FiT) commencement date.
Future Atlas is expected to sell energy under the feed-in-tariff (FiT) system for 16 years.
http://www.theedgemarkets.com/article/gets-global-petdag-johan-wintoni-sunway-reit-atlan-kumpulan-jetson-chin-hin-and-cam
