KUALA LUMPUR (May 4): Based on corporate announcements and news flow today, companies in focus tomorrow (May 5) may include: Ageson Bhd, Alam Maritim Resources Bhd, Fraser & Neave Holdings Bhd (F&N), Hibiscus Petroleum Bhd, KKB Engineering Bhd, LPI Capital Bhd, LYC Healthcare Bhd, Rubberex Corp (M) Bhd and Country View Bhd.
Ageson Bhd’s wholly-owned Esa Pile Sdn Bhd has accepted a purchase order from Guangzhou Kaishengda Industrial Co Ltd (GKI) for river sand and sea sand for a period of 15 years, a contract valued about RMB44.8 billion (RM27.5 billion). The company is expected to supply 50 million cubic metres of river sand per year and 100 million cubic metres of sea sand per year to GKI starting from the third quarter this year.
Alam Maritim Resources Bhd's unit Alam Maritim (M) Sdn Bhd has clinched a RM6.49 million work order for underwater services from SapuraOMV Upstream (PM) Inc. The job is expected to start in June and be completed in July.
Fraser & Neave Holdings Bhd’s second quarter ended March 31, 2020 (2QFY2020) net profit fell 2.16% y-o-y to RM102.17 million from RM104.43 million, as revenue slipped to RM1.01 billion from RM1.03 billion, owing to consumer demand being impacted by the Covid-19 pandemic and the subsequent Movement Control Order (MCO).
It declared a 27 sen interim dividend for the period — unchanged from the corresponding period in FY19 — translating into a total of RM99 million to be paid out on June 12.
For the six months ended March 31, 2020 (6MFY2020), its net profit rose 1.43% y-o-y to RM230.54 million from RM227.29 million, while revenue climbed 3.98% to RM2.12 billion, from RM2.04 billion.
Hibiscus Petroleum Bhd has activated its asset action plans and established a framework of cooperation with commodities trading company Trafigura Pte Ltd to ensure Hibiscus’ business continuity, as the company mitigates the impact of the Covid-19 pandemic on the oil and gas sector.
Its asset action plans — comprising revenue, operational expenditure (opex) and capital expenditure (capex) components involving the Anasuria and North Sabah oil and gas fields — aim to mitigate the effects of low oil prices on the company in 2020.
KKB Engineering Bhd has bagged a RM53 million contract from the Kuching water board to build water supply from Jalan Kawa/Matang to the Matang Mid-Level Reservoir for stressed areas under the Sarawak Water Supply Grid Programme. The 16-month contract is expected to start this month, pending final approval from the Sarawak state government.
LPI Capital Bhd’s net profit for the first quarter ended March 31,2020 (1QFY20) inched up to RM77.92 million from RM77.16 million a year ago, as revenue grew 2.9% to RM403.9 million from RM392.7 million on higher gross earned premiums.
LYC Healthcare Bhd is acquiring a 51% stake in Singapore-based T&T Medical Group Pte Ltd for S$7.29 million (RM22.27 million).
T&T operates a one-stop chronic disease centre focusing on chronic degenerative joint diseases and spine, and pain management, and metabolic diseases like diabetes mellitus, hypertension and high cholesterol. It also owns and operates T&T Family Health Clinic & Surgery, a medical centre in Singapore.
The acquisition comes with a profit guarantee of S$3.9 million over three years up to the financial year ending March 31, 2024 (FY24).
Rubberex Corp (M) Bhd plans to undertake a private placement that involves the issuance of 25.22 million new shares, or 10% of its share capital, to raise RM31 million to expand its production lines for nitrile gloves. The expansion is expected to increase the group’s installed capacity to 2.5 billion pieces a year, from one billion pieces currently.
Country View Bhd has accepted RM31 million in Islamic financing from AmBank Islamic Bhd (AmBank Islamic). The property developer said its wholly-owned subsidiary Country View Resources Sdn Bhd (CVR) would redeem RM22 million from the Murabahah Tawarruq Revolving Credit-I (RC-i) facility for working capital purposes. There will also be a RM9 million bank guarantee, the group said in a stock exchange filing.
https://www.theedgemarkets.com/article/ageson-alam-maritim-fn-hibiscus-kkb-lpi-lyc-rubberex-and-country-view
