KUALA LUMPUR (June 5): Based on corporate announcements and news flow today, stocks in focus on Tuesday (June 9) may include: Careplus Group Bhd, SAM Engineering & Equipment (M) Bhd, Berjaya Corporation Bhd (BCorp), Tiger Synergy Bhd and Econpile Holdings Bhd.
Glovemaker Careplus Group Bhd, whose share price has climbed by 918% this year, saw its first quarter net profit more than triple to RM1.14 million from RM363,000 a year earlier, on higher revenue and lower tax incurred.
The group has approved a special dividend of 0.5 sen, which goes ex on July 9 and will be paid on July 23.
Revenue rose 22.96% to RM104.7 million from RM85.15 million, on the back of higher output and higher sales.
Careplus said it expects strong positive results in the coming quarters — a reversal from its trend of being loss making over the past three financial years.
SAM Engineering & Equipment (M) Bhd’s net profit dropped 33.53% for the fourth quarter ended March 31, 2020, to RM14.91 million or 11.04 sen per share, from RM22.44 million or 16.6 sen per share a year ago, despite higher revenue. Revenue grew nearly 30% to RM253.65 million from RM195.76 million.
The group has declared the first interim dividend of 14.76 sen, payable on Aug 26.
For the full financial year ended March 31 (FY2020), net profit was slightly higher at RM79.82 million or 59.06 sen per share, versus RM78.51 million or 58.09 sen per share previously. Annual revenue surged 24% to RM938.66 million from RM754.96 million.
Berjaya Corporation Bhd (BCorp) said it has won a development tender approval by the City of Yokohama to develop projects involving a global luxury hotel and hotel condominium, together with aquarium and retail outlets.
BCorp said it holds a controlling stake in the joint venture with Marubeni Corporation and Daiwa House Industry Co Ltd to undertake the project.
The land for the project is located at the Nishi District of Yokohama, and measures approximately 22,188.34 square metres.
In addition, BCorp said it has already obtained exclusivity via a Letter of Intent to bring in global luxury hotel brand, Four Seasons Hotels and Resorts, to manage the hotel.
Tiger Synergy Bhd said its substantial shareholder Safari Alliance Sdn Bhd's bid for an additional independent scrutineer for the company's upcoming virtual annual general meeting (AGM) on June 9, has been dismissed by the High Court.
The court found no legal basis for Safari Alliance’s application, and that the grounds put forward do not warrant such an appointment.
On June 1, Tiger Synergy announced Safari Alliance had filed a suit against it to seek the appointment of an independent scrutineer, Fong Choong Fook of LE Global Services Sdn Bhd, for the AGM.
Piling and foundation specialist Econpile Holdings Bhd has bagged an RM104.5 million contract from WCT Bhd to undertake reinforced concrete works for a seven-storey retail podium of Pavilion Damansara Heights Phase 2.
The latest contract brings Econpile’s orderbook to RM780 million, which will keep it busy for the next two years.
The overall duration of the contract is 17 months, commencing this month. The group said the contract is expected to contribute positively to its revenue and earnings for the financial year ending June 30, 2020.
https://www.theedgemarkets.com/article/careplus-sam-engineering-berjaya-corp-tiger-synergy-and-econpile
