KUALA LUMPUR (July 24): Based on corporate announcements and news flow today, stocks in focus on Monday (July 27) may include:Careplus Group Bhd, Vizione Holdings Bhd, FGV Holdings Bhd, AME Elite Consortium Bhd, Westports Holdings Bhd, Aurora Italia International Bhd and Straits Inter Logistics Bhd.
Careplus Group Bhd went back into the black for the second quarter ended June 30, 2020 (2QFY20), posting a net profit of RM36.21 million, of which RM15.4 million was registered as one-off gain from a stake disposal. Quarterly revenue increased 26.9% to RM118.9 million, from RM86.9 million in the corresponding quarter last year.
The group said it will double its total production capacity to 8.8 billion pieces by end-2021 from 4.1 billion pieces currently – with a total of 50 production lines by then.
Meanwhile, Vizione Holdings Bhd fell into the red in the fourth quarter ended May 31, 2020 (4QFY20) with a net loss of RM7.57 million, compared to a net profit of RM11.4 million a year earlier. This came after the construction group’s quarterly revenue fell sharply by 74% to RM26.95 million, from RM103.60 million in 4QFY19. Vizione said the subdued construction activity in April to June impacted its financials.
FGV Holdings Bhd said it will partner more small and medium enterprise-linked distributors to expand its animal feed and nutrition business, and to penetrate the Malaysian market more effectively. FGV plans to double the number of distributors of such products by the end of the year. It has signed a distributor partnership agreement with My Agro Hub Resources to market an estimated 30 tonnes of formulated animal feed every month.
Separately, the Government has extended Datuk Wira Azhar Abdul Hamid’s tenure as FGV’s chairman effective from Sept 8. Azhar was appointed the chairman three years ago on Sept 8, 2017.
HQ Pack Sdn Bhd has commissioned AME Elite Consortium Bhd to construct its expanded facility in i-Park @ Indahpura. The integrated facility will take up approximately 60,000 sq ft of built-up area and would encompass a production factory, cleanroom, warehouse and office block. Targeted completion is slated for the second half of 2021.
Westports Holdings Bhd’s net profit fell 19.23% to RM134.34 million for the second quarter ended June 30, 2020 (2QFY20), from RM166.32 million a year earlier, on lower revenue which was down to RM431.6 million for 2QFY20 from RM454.45 million previously. The port operator, meanwhile, has declared its first interim single-tier dividend of 5.05 sen a share for the current financial year.
The company also said it will temporarily adopt a dividend payout ratio of 60% to conserve cash as it expects land reclamation for the company’s container terminal expansion to commence in 2021.
Newly listed premium jewellery distributor Aurora Italia International Bhd has said it plans to expand its online store to drive growth in 2021 and beyond following its listing on the LEAP Market of Bursa Malaysia Securities Bhd today. The company said it will focus on diversifying its points of sale to enhance brand awareness and broaden its customer base through e-commerce channels and strategic distribution partnerships with prominent marketing affiliates.
Straits Inter Logistics Bhd is buying one used oil tanker for a cash consideration of RM10.42 million to add into its existing nine-vessel fleet that is catered to its marine gas oil trading and oil bunkering services.
https://www.theedgemarkets.com/article/careplus-vizione-fgv-ame-elite-westports-aurora-italia-international-and-straits-inter
