KUALA LUMPUR (April 3): Based on corporate announcements and news flow today, stocks that may be in focus on Tuesday (April 4) may include: Eco World International Bhd, Tenaga Nasional Bhd, Felda Global Ventures Holdings Bhd, Yinson Holdings Bhd, GHL Systems Bhd, CCM Duopharma Biotech Bhd, Kelington Group Bhd, MMC Corporation Bhd and Alam Maritim Resources Bhd
Eco World International Bhd (EWI) said it will be submitting a "compelling" proposal to its Singapore-listed strategic shareholder GuocoLand Ltd to seal a partnership between the two property developers.
EWI president and chief executive officer Datuk Teow Leong Seng said his team has identified certain assets owned by Guoco Group Ltd in London, and is in the midst of formulating redevelopment plans before proposing to the Hong Kong-listed company.
Guoco Group and GuocoLand are part of the Hong Leong group.
"It is a longer term process, so it is very difficult to give a timeline. I have to reiterate there is no definitive agreement, they do not have to accept, we have to put up a compelling proposal to them," he said at the listing ceremony of EWI on Bursa Malaysia today.
EWI opened at RM1.31, representing a 9.16% premium above the initial public offering (IPO) price of RM1.20 per share.
Tenaga Nasional Bhd (TNB) has entered into a Memorandum of Understanding (MoU) with its 30%-owned unit GMR Energy Ltd (GEL) to venture into power plant operations and maintenance (O&M) in India through its wholly-owned unit TNB Repair and Maintenance Sdn Bhd (TNB REMACO).
According to TNB’s statement today, it said that under the MoU, its repair and maintenance arm TNB REMACO and GEL will provide power plant O&M, performance improvement, testing and diagnostic services.
“TNB REMACO and GEL will jointly set up a refurbishment and maintenance facility in India,” said TNB. It added that this will be TNB REMACO’s first ever refurbishment and maintenance facility outside Malaysia.
Under the same three-year MoU, GEL will identify business opportunities for the collaboration as well as identify and provide a suitable location for the facility.
Prior to the establishment of the facility in India, refurbishments works will be performed by TNB REMACO at its facility in Malaysia, said TNB.
Felda Global Ventures Holdings Bhd (FGV) has inked a Memorandum of Understanding (MoU) with Trimex Industries Pvt Ltd, a subsidiary of India's Trimex Group, to collaborate and explore the possibility of supplying palm oil to India.
The MoU is to remain valid for six months or such extended period as agreed in writing by the parties, said FGV.
Malaysia is the second biggest net exporter of palm oil after Indonesia, and FGV is the second biggest oil palm plantation company in the world.
Yinson Holdings Bhd said that its 49% joint venture PTSC Asia Pacific Pte Ltd had received a notice of termination for convenience from PetroVietnam Technical Services Corp (PTSC) under a bareboat charter contract entered into in 2012. The bareboat charter contract will terminate on June 30, 2017.
PTSC Asia Pacific is a 51:49 joint venture between PTSC and Yinson.
On March 31, 2017, Lam Son Joint Operating Company (LSJOC), the operator of Lam Son field, had issued a notice of termination to PTSC for FPSO PTSC Lam Son. The service of the notice of termination is pursuant to the liquidation of LSJOC, which is scheduled for June 30, 2017.
Yinson yesterday said PTSC served a notice of termination for convenience to PTSC Asia Pacific under the Bareboat Charter.
The note filed with Bursa Malaysia said that PTSC Asia Pacific is entitled to an early termination payment from PTSC although the exact quantum will be ascertained in accordance with the terms of the Bareboat Charter.
LSJOC is jointly owned by PetroVietnam Exploration Production Corporation, a wholly-owned subsidiary of Vietnam Oil & Gas Group (PetroVietnam) and PC Vietnam Limited, a wholly-owned subsidiary of Petroliam Nasional Bhd (Petronas).
PTSC has informed PTSC Asia Pacific that PetroVietnam, the ultimate holding company of one of the shareholders of LSJOC, has the intention for the petroleum operations to continue at Lam Son field despite the liquidation of LSJOC.
It added that it is the intention of PetroVietnam to continue to utilize FPSO PTSC Lam Son.
The filing with Bursa said there is no material adverse financial impact to PTSC Asia Pacific and Yinson will continue to work together with PTSC on future developments during the transition period.
Starting this month, GHL Systems Bhd (GHL) will begin offering AliPay payment acceptance services to Malaysian in-store merchants, as well as online ones.
The service will start with physical merchants before end-April, before being extended to e-commerce merchants.
AliPay is one of the largest mobile and online payment platforms globally with over 400 million users. It is owned by Ant Financial Services, which is part of the Alibaba Group.
The partnership marks the second Asean country where GHL has tied up with AliPay to offer an alternative payment option to merchants.
It had also partnered with AliPay in the second quarter of 2016 to offer the alternative payment option for physical stores in Thailand.
CCM Duopharma Biotech Bhd (CCMD) has partnered with India’s Natco Pharma Limited (Natco) and Biocon Limited (Biocon) to offer affordable cancer and insulin therapies in Malaysia.
CCMD, a subsidiary of Chemical Company of Malaysia Bhd (CCM), signed a 15-year partnership with Natco to build Malaysia’s first High Active Potent Ingredient Drug (HAPI) manufacturing facility to produce generic oncology medicines.
It said the project has been proposed for the Entry Point Project under the National Key Economic Areas by government delivery unit, PEMANDU and will see CCMD allocate a total investment of RM34 million.
Separately, CCMD has also been authorized by Biocon to be the reseller of human insulin in Malaysia following the award of a RM300 million contract under the Ministry of Health’s Off Take programme.
The programme will supply human insulin to all government hospitals and clinics for a period of three years until Dec 1, 2019.
Kelington Group Bhd has secured two new contracts in China from a global multinational corporation (MNC) semiconductor manufacturer worth RM19.3 million.
The integrated engineering services provider said the contracts were secured via its wholly-owned subsidiary Kelington Engineering (Shanghai) Co Ltd, and that they are for the installation of an ultra high purity gas delivery system.
The group said the contracts commence immediately, with targeted completion in December. They are expected to contribute positively to the earnings and net assets of Kelington for its financial year ending Dec 31, 2017 (FY2017).
Separately, Kelington said it has now secured up to RM76.05 million worth of new orders in the first quarter of 2017, bringing its current outstanding orderbook total to RM239.3 million.
MMC Corporation Bhd will acquire the remaining 51% stake in Penang Port Sdn Bhd (PPSB) for a cash consideration of RM220 million in order to gain full control of PPSB.
MMC Port Holdings Sdn Bhd, a wholly-owned subsidiary of MMC Corp, has entered into a conditional share sale and purchase agreement with Seaport Terminal (Johore) Sdn Bhd to acquire the remaining 37.5 million ordinary shares representing about 51% ordinary equity interest in PPSB for a cash consideration of RM220 million.
It added that the proposed acquisition is to enable MMC Corp to be in full control of PPSB and be in a position to determine its future strategic direction.
Seaport Terminal (Johore) is a wholly-subsidiary of Indra City Sdn Bhd, which is controlled by Malaysian tycoon, Tan Sri Syed Mohktar Al-Bukhary.
Marine transportation support services provider Alam Maritim Resources Bhd has bagged a RM26.09 million job to supply a 40-tonne utility boat for the Terengganu Crude Oil Terminal Operation in Kerteh, Malaysia.
It secured the contract from Petronas Maritime Services Sdn Bhd, a subsidiary of MISC Bhd.
The contract is valid for four years and 211 days, and carries a one-year optional extension.
http://www.theedgemarkets.com/my/article/eco-world-international-tnb-fgv-yinson-ghl-systems-ccm-duopharma-kelington-mmc-corp-and-alam
