KUALA LUMPUR (March 1): Based on corporate announcements and news flow today, stocks in focus on Thursday (March 2) may include: Matrix Concepts, Sime Darby, Petrol One, Tiger Synergy and HeiTech Padu.
Matrix Concepts Holdings Bhd has inked a memorandum of understanding (MoU) with Taiwan-based Changhua Christian Hospital (CCH) for the proposed establishment of a medical and specialist healthcare service provider in Bandar Sri Sendayan, Negeri Sembilan, to be known as Matrix Global Specialist Center (MGSC).
In a filing with Bursa Malaysia, Matrix said with the execution of the MoU, both itself and CCH have agreed, pursuant to the terms of the MoU, to jointly establish a joint working group for the review, feasibility study, construction and development of MGSC.
It said the MoU shall take effect from today for a period of six months, with the option to extend its validity to a further six months, subject to a mutual agreement for such extension.
Matrix said the MGSC, if established, shall be the first hospital to incorporate start-of-art development to be built in Bandar Sri Sendayan, to cater for the current population of more than 30,000 residents, with a future target of more than 120,000 by 2022.
Four of Sime Darby Bhd's indirect wholly-owned units that have ceased business operations and are dormant have resolved to being wound-up following their extraordinary general meetings today.
In a bourse filing, Sime Darby said the companies comprise Nature Ambience Sdn Bhd (NASB), Sime Darby Bioganic Sdn Bhd (SDB), Sime Darby Julau Plantation Sdn (SDJP) and Vertical Drive Sdn Bhd (VDSB).
The winding-up would not have a material effect on the earnings or net assets of the group for the financial year ending June 30, 2017 (FY17).
Apart from VDSB, which is an investment holding company, NASB and SDJP were involved in the cultivation of oil palm and processing of palm oil and palm kernel, while SDB manufactured palm tocotrienol vitamin E.
The move follows Sime Darby's proposed standalone listing of its plantation and property under a pure-play strategy.
Petrol One Resources Bhd has secured a support services agreement for the Asia Petroleum Hub Terminal Facilities project in Tanjung Bin, Johor.
In a filing with the bourse, Petrol One said the agreement was signed between its indirect wholly-owned subsidiary Petrol One Offshore Sdn Bhd (POOSB) and Dalian Jinzhou Heavy Machinery Co Ltd (DJHM).
Under the contract, POOSB will provide a supply base measuring five acres on a plot of land located adjacent to the Port of Tanjung Pelepas in Johor, along with warehouse and logistic support, agency services and custom clearance, and marine support services.
Meanwhile, DJHM will pay a fee for the support services at a rate of cost plus 5%.
Petrol One said it will announce the cost of the project at a later date, as the two parties to the agreement are still in the midst of finalising details of the project's cost.
"The support services agreement is expected to contribute positively to the consolidated earnings per share of Petrol One for the financial year ending June 30, 2018," the company said.
Tiger Synergy Bhd has aborted its plan to undertake a series of corporate proposals, including a rights issue to raise as much as RM41.72 million.
The property developer announced the decision in a bourse filing this afternoon. The proposals were announced on June 1 last year.
The proposed rights issue involved issue of irredeemable convertible preference shares (ICPS) on the basis of three rights ICPS for every one existing share, to raise as much as RM41.72 million for capital expenditure and working capital.
HeiTech Padu Bhd has signed a RM41.9 million contract with Permodalan Nasional Bhd (PNB) to provide managed wide area network (WAN) infrastructure for PNB and Amanah Saham Nasional Bhd.
The supply, installation, commissioning, operation and maintenance contract is for a period of five years until Aug 31, 2021, said HeiTech Padu in a filing today.
It said the deal is expected to have a positive effect on its earnings per share but will have no material effect on its dividend policy, gearing, share capital and the substantial shareholders' shareholding.
"The board of directors is of the opinion that the execution of the contract is in the ordinary course of business and is in the best interest of the company," it added.
http://www.theedgemarkets.com/my/article/matrix-concepts-sime-darby-petrol-one-tiger-synergy-and-heitech-padu
