KUALA LUMPUR (March 24): Based on corporate announcements and news flow today, the companies that may be in focus on Monday (March 27) could be the following: SunCon, Superlon, Astino, GDEX and Brahim’s
Sunway Construction Bhd (SunCon) said its subsidiaries Sunway Construction Sdn Bhd (SCSB) and Sunway Geotechnics (M) Sdn Bhd (SunGeo) have secured RM186 million worth of contracts for construction works.
According to its bourse filing, the largest contract – valued at RM152.4 million – was awarded by Gas District Cooling (Putrajaya) Sdn Bhd to SCSB.
The contract entails the engineering, procurement, construction and commissioning (EPCC) works at Gas District Cooling (GDC) Plant 1 in Precinct 1, Putrajaya, starting March 27, 2017, to August 27, 2018.
Besides that, Cergas Murni Sdn Bhd had awarded SunGeo an RM18.06 million contract for bore piling works for the Sungai Besi — Ulu Kelang (SUKE), Section B — Cheras to Ulu Kelang package, to commence on May 15, 2017, and to be completed on April 30, 2018.
SunGeo also secured another bore piling works contract for the Damansara – Shah Alam (DASH) expressway for Section A – Puncak Perdana to Kota Damansara for a sum of RM15.83 million.
Thermal insulator manufacturer Superlon Holdings Bhd's net profit grew 45.3% to RM6.25 million or 7.88 sen per share for the third financial quarter ended Jan 31, 2017 (3QFY17), from RM4.3 million or 5.42 sen per share a year ago, thanks to increased sales of copper pipes.
In its quarterly report to Bursa Malaysia, Superlon said revenue increased 15.48% to RM25.8 million from RM22.34 million in 3QFY16.
Over the nine-month period ended Jan 31, 2017 (9MFY17), Superlon's net profit was 33.8% higher at RM17.34 million, as compared to RM12.96 million in 9MFY16, while revenue expanded by 10.36% to RM73.72 million, from RM66.81 million.
Based on the current demand trend, Superlon expects to achieve 'satisfactory' results for the remaining quarter in FY17.
The group declared a special dividend of six sen per share, payable on May 5.
PVC doors and metal roof sheeting manufacturers Astino Bhd reported a big rise in earnings for its second financial quarter ended Jan 31, 2017 (2QFY17) on better overseas sales and profit margin.
The group said net profit ballooned 74.7% to RM12.09 million from RM6.92 million in 2QFY16. Revenue grew 12.28% to RM133.91 million from RM119.26 million.
The increase in turnover for the quarter under review, according to Astino’s filing with the exchange, was mainly due to the increase in overseas market demand.
For the cumulative six-month period (1HFY17), net profit jumped 47.3% year-on-year to RM17.67 million from RM11.998 million, while revenue climbed 5.4% to RM247.34 million from RM234.67 million.
Moving forward, Astino expects the local steel industry to experience a squeeze in profit margin due to the weak domestic demand, high production costs and volatility of foreign currency.
Courier services provider GD Express Carrier Bhd (GDEX) has proposed a three-for-one bonus issue of 4.71 billion shares.
The group told Bursa Malaysia that under a minimum scenario, with an assumption that none of the outstanding Warrants-B are exercised prior to the entitlement date, 4.18 billion bonus shares will be issued.
The maximum scenario would see 4.71 billion bonus shares being issued assuming all of the outstanding warrants-B are exercised prior to the entitlement date.
Food caterer Brahim’s Holdings Bhd will be operating five cafeterias in National University of Malaysia (UKM), and provide training and consultancy services for other cafeterias in the Bangi-based tertiary education institution.
In a filing with Bursa Malaysia today, Brahim’s said its 51%-owned subsidiary Brahim’s SATS Food Services Sdn Bhd (BSFS) has entered into two Cafeteria Operation Agreements (COAs) with UKM for the purpose of leasing, renovation and upgrading of five cafeterias and provision of training and consultancy services for other cafeterias in the university.
The five cafeterias that BSFS will directly participate are Kafeteria Canselori, Kafeteria Fakulti Kejuteraan Dan Alam Bina, Kafetaria Fakulti Sains Dan Teknologi, Lots at Food Court Dewan Tun Abdullah Mohd Salleh and Food outlets at Teres Eko-Niaga Fakulti Ekonomi Dan Pengurusan.
Under the COAs, BSFS will also supply meals, beverages and refreshments to other cafeterias in the university.
Brahim’s said BSFS will pay UKM based on a profit-sharing scheme.
http://www.theedgemarkets.com/my/article/suncon-superlon-astino-gdex-and-brahim%E2%80%99s
