KUALA LUMPUR (Jan 21): Based on corporate announcements and news flow today, stocks in focus on Wednesday (Jan 22) may include: Pharmaniaga Bhd, Scomi Energy Services Bhd, Scomi Group Bhd, Rohas Tecnic Bhd, Marine & General Bhd, Mudajaya Group Bhd, Kelington Group Bhd, Reach Energy Bhd, ATTA Global Group Bhd and Prestariang Bhd.
Pharmaniaga Bhd says its managing director Datuk Farshila Emran will leave the company when her contract expires at the end of March this year, confirming a report by theedgemarkets.com earlier today.
Pharmaniaga said Farshila, 54, will complete her full nine-year term at the helm of the company on March 31, 2020. It went on to state that Farshila is currently pursuing her PhD.
Pharmaniaga also confirmed that Mohamed Iqbal Abdul Rahman, who currently serves as chief operating officer, will become acting MD following Farshila's departure.
Scomi Energy Services Bhd’s Practice Note 17 (PN17) status is confirmed, after its waiver application was rejected by Bursa Malaysia.
Scomi Energy first triggered the PN17 status on Oct 31, 2019, after its shareholders’ equity on a consolidated basis fell below 50% of its issued share capital as at June 30.
Also, its external auditors KPMG PLT had expressed material uncertainty related to the going concern of the company in the audited financial statements for the financial year ended June 30, 2019 (FY19).
Whereas its parent company Scomi Group Bhd has been slapped with a letter of demand for loan repayments of RM21.85 million each from businessman Tan Sri Wan Azmi Wan Hamzah and Gelombang Global Sdn Bhd (GGSB), after the group failed to repay both parties by Jan 17.
In July 2019, Wan Azmi and GGSB (which is controlled by former Renong Bhd managing director Datuk Mohd Zakhir Siddiqy Sidek), said they would invest RM42 million collectively in the ailing company by injecting the capital via a proposed rights issue.
Both are now demanding immediate repayment within five days from the letter of demand.
Meanwhile, there were a slew of contract win announcements today.
Rohas Tecnic Bhd has bagged a water supply system contract worth 332 billion dong (RM58.4 million) in Vietnam.
Awarded by Phu My Vinh Construction and Investment Corp, the job entails the engineering, procurement, construction and commissioning of Hoa Khanh Tay Water Supply System Phase 2.
Marine & General Bhd (M&G) has secured a RM16 million contract from Petronas Carigali Sdn Bhd for the provision of an anchor handling tug and supply vessel.
The job, which spans 363 days from Jan 3 onwards, was awarded to its subsidiary Jasa Merin (Malaysia) Sdn Bhd.
Mudajaya Group Bhd has bagged a RM31.99 million contract, to be completed by July this year, to supply and maintain street lighting and traffic light system for the Sungai Besi–Ulu Kelang Elevated Expressway (SUKE) project.
The contract — which entails the supply, delivery, installation, testing, commissioning and maintenance of street lighting, high mast and traffic light system — was awarded to its wholly-owned subsidiary Mudajaya Corp Bhd by Turnpike Synergy Sdn Bhd.
With this contract award, Mudajaya said its outstanding order book now stands at RM1.4 billion.
Meanwhile, Kelington Group Bhd landed a RM35 million contract from a leading global semiconductor chip manufacturer to provide infrastructure works for a facility in Penang. The group however did not disclose the name of the chip manufacturer.
Kelington said the contract commenced on Jan 15 and is expected to be completed by the end of September.
Reach Energy Bhd's subsidiary in Kazakhstan has obtained production contracts for the North Kariman and Yessen fields there, for respective periods of 16 and 25 years, starting Jan 1 this year.
The production contracts were obtained by Emir-Oil LLP, in which Reach Energy controls a 60% stake via Palaeontol BV. Emir-Oil holds the entire 100% working interest in the 850.3 sq km Emir-Oil Concession Block in Kazakhstan.
Reach Energy also announced a three-year extension for Emir-Oil's exploration contract 482 until Dec 31, 2022. The exploration contract's initial termination date was Jan 9 this year.
ATTA Global Group Bhd today confirmed that the suspension of the trading of its shares was due to a police raid at its premises in the Prai Industrial Estate in Penang on Jan 16.
The raid at part of the premises tenanted by a third-party was in relation to a drug probe.
ATTA Global said the financial and operations of the group will be substantially affected due to the police probe.
Prestariang Bhd, the sole Microsoft licensing solutions provider for the Malaysian government, has proposed to undertake a private placement of not more than 10% of its issued share capital to raise up to RM19.29 million.
The group said the private placement entails the issuance of up to 48.23 million new shares.
As of Jan 17, Prestariang has an issued share capital of RM116.33 million comprising 482.30 million shares.
https://www.theedgemarkets.com/article/pharmaniaga-scomi-energy-services-scomi-group-rohas-tecnic-marine-general-mudajaya-kelington
