GenM, Gamuda, KPJ Healthcare, Allianz Malaysia, Mah Sing, Radium Development, Eco World Development, Aneka Jaringan, TNB, TT Vision, Destini, Pharmaniaga, MSM, Bintai Kinden, AHB and Eversendai

GenM, Gamuda, KPJ Healthcare, Allianz Malaysia, Mah Sing, Radium Development, Eco World Development, Aneka Jaringan, TNB, TT Vision, Destini, Pharmaniaga, MSM, Bintai Kinden, AHB and Eversendai

KUALA LUMPUR (June 22): Here is a brief recap of some corporate announcements that made the news on Thursday (June 22) involving Genting Malaysia Bhd, Gamuda Bhd, KPJ Healthcare Bhd, Allianz Malaysia Bhd, Mah Sing Group Bhd, Radium Development Bhd, Eco World Development Group Bhd, Aneka Jaringan Holdings Bhd, Tenaga Nasional Bhd (TNB), TT Vision Holdings Bhd, Destini Bhd, Pharmaniaga Bhd, MSM Malaysia Holdings Bhd, Bintai Kinden Corp Bhd, AHB Holdings Bhd and Eversendai Corp Bhd.

Genting Malaysia Bhd said the purchaser of its 15.5 acres of land in Miami had elected to end its current US$1.225 billion bid. It said the purchaser had requested an extension of the exclusivity period and sought amendments to the commercial terms of the sale and purchase agreement. However, the purchaser’s requests were not granted at this time.

Gamuda Bhd’s net profit for the third quarter ended April 30, 2023 (3QFY2023) edged up 0.85% to RM223.36 million from RM221.49 million a year ago, on the back of stronger overseas construction earnings. Quarterly revenue climbed 81.22% to RM2.07 billion from RM1.14 billion last year, with overseas revenue tripling. It declared a second interim dividend of six sen per share for the financial year ending July 31, 2023, with the entitlement date to be announced later.

Besides that, Gamuda said it will kick off the Penang South Island (PSI) reclamation project, starting Phase 1 of the reclamation works worth RM3.717 billion on July 1, which has been awarded to its wholly-owned unit Gamuda Engineering Sdn Bhd. The job is expected to be completed by June 30, 2030.

Gamuda also announced that it has renewed Datuk Lin Yun Ling's contract as group managing director, a post he has held for over four decades, for another five years until mid-2028.

KPJ Healthcare Bhd is targeting strong growth for the financial year ending Dec 31, 2023 (FY2023), supported by growing inpatient volumes as well as a higher number of hospital beds, and improvement in bed occupancy rate to 58% in 2022 from 43% in 2021. KPJ is actively seeking investments to expand by focusing on building more hospitals. Meanwhile, the company has appointed Chin Keat Chyuan as its new president and managing director, effective from Sept 1, 2023. It said Chin brings a wealth of experience with over two decades at Johnson & Johnson and an exemplary track record to the role.

Allianz Malaysia Bhd is targeting a full-year FY2023 dividend payout ratio of over 30% of its net income. This comes on the back of its record dividend payout of 85 sen per share for the financial year ended Dec 31, 2022 (FY2022). The dividend that the group could pay to its shareholders will be influenced by several factors, namely Bank Negara Malaysia’s approval, required retained surplus to fuel growth and provisions for future shocks, it said.

Mah Sing Group Bhd is confident of achieving its 2023 sales target of RM2.2 billion property sales, having locked in RM600.6 million sales in the first quarter of 2023 (1QFY2023). The property developer remains committed to its strategic focus on the M Series and upcoming launches, including M Nova, M Minori, M Senyum, Meridin East, M Panora and M Sinar. It has also named former Royal Malaysian Navy (RMN) chief Admiral (R) Tan Sri Abu Bakar Abdul Jamal as its chairman effective Aug 1. He served the RMN for almost 40 years both at the staff and command levels, culminating in the highest office of RMN chief from 1998 to 2002.

Radium Development Bhd’s 80%-owned Pavilion Integrity Sdn Bhd (PISB) is committed to working on a fair resolution following the Federal Court decision involving the litigation for Lot 810. PISB said it is dedicated to respecting the court's decision and promptly addressing the outcome, in which the company expects a compulsory acquisition of Lot 810 by DBKL, with compensation under the Land Acquisition Act 1960.

Eco World Development Group Bhd reported a 37.26% increase in its net profit for the second quarter ended April 30, 2023 (2QFY2023) to RM62.69 million from RM45.67 million a year ago, thanks to higher contributions from its Malaysian joint ventures (JVs). Its bottomline improved despite a 16.98% contraction in its revenue to RM420.82 million from RM506.89 million, after several parcels were substantially completed in FY2022. The group has declared an interim dividend of two sen per share, payable on July 20, 2023.  

Aneka Jaringan Holdings Bhd has secured two contracts with a combined value of RM168 million to undertake substructure works for a service apartment and mall project in Taman Overseas Union, Kuala Lumpur. Its wholly-owned subsidiary Aneka Jaringan Sdn Bhd has accepted two letter of awards from Overseas Union Garden Sdn Bhd (OUGSB) on June 20 and 22.

Tenaga Nasional Bhd (TNB)’s indirect subsidiary Southern Power Generation Sdn Bhd has received notices of assessment amounting to RM78.49 million from the Inland Revenue Board (IRB), which the unit is challenging via an application for a judicial review.

TT Vision Holdings Bhd has secured purchase orders worth US$5.72 million (about RM26.6 million) for its solar inspection and sorting equipment. It said the latest contract was received from a ‘major customer’ known as the global leader in solar innovation and is expected to be fulfilled within six to 10 months.

Destini Bhd said its wholly-owned unit Destini Prima Sdn Bhd (DPSB) has bagged a RM25.44 million contract from the Ministry of Defence (Mindef). The three-year contract is for the procurement of scheduled and unscheduled maintenance, testing, technical services as well as supply of spare parts and related components for non-airborne equipment to the Royal Malaysian Air Force.

Pharmaniaga Bhd has clarified that its recent proposed private placement is an interim fund-raising exercise and not part of the proposed regularisation plan to be submitted to Bursa Malaysia Securities Bhd. The Practice Note 17 company said pending the finalisation and implementation of a proposed regularisation plan, it will continue to source for funds from the capital market as an interim measure to bridge its working capital requirements.

MSM Malaysia Holdings Bhd and Central Sugars Refinery Sdn Bhd (CSR), have been instructed to provide daily sugar production reports since May to ensure there is no disruption in the supply of the commodity in the country.

Bintai Kinden Corp Bhd has clarified that its eight contracts with TNB were terminated by the national utility group due to its unit Kejuruteraan Bintai Kindenko Sdn Bhd’s (KBK) inability to continue to perform its contractual obligations, due to its banking facilities being suspended and/or terminated by the financial institutions.

After diversifying into property development, office furniture maker AHB Holdings Bhd has proposed to also diversify into the trading of building materials, machineries and equipment in view of rising costs in the increasingly competitive furniture business.

Eversendai Corp Bhd has inked a strategic collaboration agreement (SCA) with Abu Dhabi National Oil Company (Adnoc) to secure more Adnoc projects in coming years. Eversendai said its subsidiary in the UAE, Eversendai Offshore RMC FZE, had signed the deal with Adnoc. It said through this SCA, Adnoc has mandated steel fabrication works to be performed within UAE fabrication facilities.

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