KUALA LUMPUR (May 5): Based on corporate announcements and news flow today, companies that may be in focus on Monday (May 8) may include the following: Hua Yang, Uzma, Mah Sing, Prestar, Star Media, SLP, APM, Warisan TC and NetX.
Property developer Hua Yang Bhd is acquiring a 3.8-acre parcel of land in Bandar Meru Raya, Perak, which will be developed into a mixed project with a gross development value (GDV) of RM295.1 million. In a filing with Bursa Malaysia today,
Hua Yang said its wholly-owned subsidiary Yoon Lian Realty Sdn Bhd has entered into a conditional sale and purchase agreement with Bumi Semarak Development Sdn Bhd to acquire the tract for RM15.31 million. The acquisition will be satisfied through internal funds and/or bank borrowings and is expected to be completed by the second quarter of the financial year ending March 31, 2018.
Hua Yang plans to develop 720 units of serviced apartments and 72 units of commercial shop lots on the site.
Uzma Bhd has proposed to place new shares to third party investors to be identified later to raise up to RM50.62 million mainly for capital expenditure and future developments and/or investments.
The remaining proceeds will be used for bank borrowings repayment (29.63%), working capital (9.63%) and estimated expenses relating to the proposed private placement (1.48%), said in a bourse filing today.
The private placement will involve up to 29.09 million new shares or 10% of its total number of issued shares, at an issue price to be determined and announced later, said Uzma.
Mah Sing Group Bhd today launched its two-month celebration-cum-sales campaign, which will see the group give away up to RM23 million worth of rewards to ease home ownership for its customers. The rewards will come in the form of luxury cars, deferred payments, lucky dips, cashback awards, foreign levy absorption, and free stamp duty on memorandum of transfer, among others.
On the group's future plans, Mah Sing will continue to focus on affordable housing projects over the next two years.
Steel maker Prestar Resources Bhd is tightening its grip on its 75%-owned subsidiary Prestar Engineering Sdn Bhd (PESB) by buying the rest of the shares in the company, which manufactures road furniture and related products like guardrails, post and packer. In a filing with Bursa Malaysia today,
Prestar Resources said it has entered into a sale and purchase agreement with Lam Chung Ming for the acquisition of 750,000 shares or a 25% stake in PESB for RM4.5 million.
"The acquisition will enable Prestar to consolidate its shareholding and control on PESB for expansion of product range into domestic as well as regional road furniture market," the group said.
Star Media Group Bhd said today it has received an expression of interest from a client of the legal firm Bird & Bird ATMD LLP to buy its 52.51% stake in Singapore-listed Cityneon Holdings Bhd, which is currently held by its wholly-owned subsidiary Laviani Pte Ltd.
In a filing with Bursa Malaysia today, Star Media said the board of directors will deliberate the matter and an appropriate announcement will be made in due course.
Cityneon, a creative agency, had earlier today requested the suspension in trading of its shares from 3pm pending the release of the announcement.
SLP Resources Bhd has proposed a private placement in a bid to raise up to about RM40 million to fund the construction of a new warehouse, as well as to acquire two high-performance blown film lines, paired with a one-for-five bonus issue.
The private placement entails 16.8 million new shares, representing 6.79% of SLP's existing issued share capital, the plastic packaging solutions provider said in a filing today. "The exercise will enable SLP to expand its existing production capacity from 24,000 metric tonnes per year to 32,000 metric tonnes per year.
Separately, SLP reported a 19.96% fall in net profit to RM4.07 million for the first financial quarter ended March 31, 2017, from RM5.09 million a year ago. Revenue was up by a marginal 2.93% to RM45.99 million from RM44.68 million previously, as the stronger greenback against the ringgit lifted the average selling price for its exports.
APM Automotive Holdings Bhd's net profit rose 12.9% to RM10.55 million or 5.4 sen per share in its first financial quarter ended March 31, 2017 (1QFY17) from RM9.34 million or 4.78 sen per share a year ago due to better sales and lower foreign exchange losses.
Revenue in the period grew 6.5% to RM294.08 million from RM276.14 million last year, with higher uptake of original equipment manufacturer parts, said the company in its Bursa Malaysia filing.
Warisan TC Holdings Bhd, a tour and car rental company controlled by Tan Chong Motor Holdings Bhd, has returned to the black in the first quarter ended March 31, 2017. It posted a net profit of RM332,000 compared with a net loss of RM1.15 million a year ago, thanks to a 7.3% increase in its revenue to RM112.55 million from RM104.99 million previously.
NetX Holdings Bhd is partnering with China-based E-DO Business Technology Corp to provide e-commerce online payment, e-wallet and loyalty programme solutions services in Cambodia, Malaysia and Thailand. NetX's subsidiary Payallz Sdn Bhd entered into a technology partnership agreement with E-DO, which specialises in the provision of payment services for Alipay, WePay and Union Pay, said in a bourse filing today.
http://www.theedgemarkets.com/article/hua-yang-uzma-mah-sing-prestar-star-media-slp-apm-warisan-tc-and-netx
Property developer Hua Yang Bhd is acquiring a 3.8-acre parcel of land in Bandar Meru Raya, Perak, which will be developed into a mixed project with a gross development value (GDV) of RM295.1 million. In a filing with Bursa Malaysia today,
Hua Yang said its wholly-owned subsidiary Yoon Lian Realty Sdn Bhd has entered into a conditional sale and purchase agreement with Bumi Semarak Development Sdn Bhd to acquire the tract for RM15.31 million. The acquisition will be satisfied through internal funds and/or bank borrowings and is expected to be completed by the second quarter of the financial year ending March 31, 2018.
Hua Yang plans to develop 720 units of serviced apartments and 72 units of commercial shop lots on the site.
Uzma Bhd has proposed to place new shares to third party investors to be identified later to raise up to RM50.62 million mainly for capital expenditure and future developments and/or investments.
The remaining proceeds will be used for bank borrowings repayment (29.63%), working capital (9.63%) and estimated expenses relating to the proposed private placement (1.48%), said in a bourse filing today.
The private placement will involve up to 29.09 million new shares or 10% of its total number of issued shares, at an issue price to be determined and announced later, said Uzma.
Mah Sing Group Bhd today launched its two-month celebration-cum-sales campaign, which will see the group give away up to RM23 million worth of rewards to ease home ownership for its customers. The rewards will come in the form of luxury cars, deferred payments, lucky dips, cashback awards, foreign levy absorption, and free stamp duty on memorandum of transfer, among others.
On the group's future plans, Mah Sing will continue to focus on affordable housing projects over the next two years.
Steel maker Prestar Resources Bhd is tightening its grip on its 75%-owned subsidiary Prestar Engineering Sdn Bhd (PESB) by buying the rest of the shares in the company, which manufactures road furniture and related products like guardrails, post and packer. In a filing with Bursa Malaysia today,
Prestar Resources said it has entered into a sale and purchase agreement with Lam Chung Ming for the acquisition of 750,000 shares or a 25% stake in PESB for RM4.5 million.
"The acquisition will enable Prestar to consolidate its shareholding and control on PESB for expansion of product range into domestic as well as regional road furniture market," the group said.
Star Media Group Bhd said today it has received an expression of interest from a client of the legal firm Bird & Bird ATMD LLP to buy its 52.51% stake in Singapore-listed Cityneon Holdings Bhd, which is currently held by its wholly-owned subsidiary Laviani Pte Ltd.
In a filing with Bursa Malaysia today, Star Media said the board of directors will deliberate the matter and an appropriate announcement will be made in due course.
Cityneon, a creative agency, had earlier today requested the suspension in trading of its shares from 3pm pending the release of the announcement.
SLP Resources Bhd has proposed a private placement in a bid to raise up to about RM40 million to fund the construction of a new warehouse, as well as to acquire two high-performance blown film lines, paired with a one-for-five bonus issue.
The private placement entails 16.8 million new shares, representing 6.79% of SLP's existing issued share capital, the plastic packaging solutions provider said in a filing today. "The exercise will enable SLP to expand its existing production capacity from 24,000 metric tonnes per year to 32,000 metric tonnes per year.
Separately, SLP reported a 19.96% fall in net profit to RM4.07 million for the first financial quarter ended March 31, 2017, from RM5.09 million a year ago. Revenue was up by a marginal 2.93% to RM45.99 million from RM44.68 million previously, as the stronger greenback against the ringgit lifted the average selling price for its exports.
APM Automotive Holdings Bhd's net profit rose 12.9% to RM10.55 million or 5.4 sen per share in its first financial quarter ended March 31, 2017 (1QFY17) from RM9.34 million or 4.78 sen per share a year ago due to better sales and lower foreign exchange losses.
Revenue in the period grew 6.5% to RM294.08 million from RM276.14 million last year, with higher uptake of original equipment manufacturer parts, said the company in its Bursa Malaysia filing.
Warisan TC Holdings Bhd, a tour and car rental company controlled by Tan Chong Motor Holdings Bhd, has returned to the black in the first quarter ended March 31, 2017. It posted a net profit of RM332,000 compared with a net loss of RM1.15 million a year ago, thanks to a 7.3% increase in its revenue to RM112.55 million from RM104.99 million previously.
NetX Holdings Bhd is partnering with China-based E-DO Business Technology Corp to provide e-commerce online payment, e-wallet and loyalty programme solutions services in Cambodia, Malaysia and Thailand. NetX's subsidiary Payallz Sdn Bhd entered into a technology partnership agreement with E-DO, which specialises in the provision of payment services for Alipay, WePay and Union Pay, said in a bourse filing today.
http://www.theedgemarkets.com/article/hua-yang-uzma-mah-sing-prestar-star-media-slp-apm-warisan-tc-and-netx
