Friday 29 Mar 2024
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KUALA LUMPUR (Aug 10): Based on corporate announcements and news flow today, the companies that may be in focus tomorrow (Tuesday, Aug 11) could be the following: Affin Holdings, MAHB, Matrix Concepts, Scomi Energy, Salcon, MPHB Capital, and The Media Shoppe.

Affin Holdings Bhd's banking unit Affin Bank Bhd announced today that it is acquiring a tract of land measuring 54,266 sq ft in the Tun Razak Exchange (TRX) here to develop its new headquarters, for RM255 million, or RM4,699.07 per sq ft.

According to Affin Bank managing director and chief executive officer Kamarul Ariffin Mohd Jamil, the development will have a gross floor area (GFA) of 823,439 sq ft and at the purchase price of RM255 million.

That means the price per gross floor area would be RM309.67 per sq ft, while the plot ratio will be 15.2 times.

“We have been sourcing for a suitable location that meets our requirement, with the right price. There was a need as the bank, together with other entities within Affin Group, has been growing and we need more space for everyone under one roof,” he told reporters in a press conference here today.

He added that the land has been independently valued at RM261 million.

In its filing with Bursa Malaysia, Affin (fundamental: 1.1; valuation: 2.25) said the plot of land known as “Plot C7.9-CT”, has been earmarked for an international class Grade A, 35-storey office building development with 830 parking bays.

Affin will pay 10% deposit for the acquisition and the remaining 90% upon presentation for registration of the transfer and title of the property.

The banking group also said the acquisition will be funded through internally generated funds by Affin Bank.

Malaysia Airports Holdings Bhd (MAHB) handled 12.7% more passengers in July 2015, with strong growth in both domestic and international passenger numbers.

The latest figures showed 7.21 million passengers passed through the 39 airports it operates in the country in July 2015 from 6.4 million in July 2014.

In a filing with Bursa Malaysia today, MAHB said international travellers rose 7.7% to 3.48 million in July 2015 from 3.23 million a year ago, while domestic passenger numbers grew 17.9% to 3.73 million from 3.17 million.

The KL International Airport (KLIA) in Sepang saw 10.1% more passengers passing through its gates in July to 4.19 million from 3.81 million in July 2014. Total passenger traffic for KLIA's main terminal recorded a 2.5% increase to 1.94 million passengers, while klia2 grew 17.6% to 2.26 million over the same month last year.

Total passenger numbers passing through the Istanbul Sabiha Gokcen International Airport (SGIA) in Turkey, meanwhile, grew 28.3% to 2.78 million in July 2015 from 2.17 million a year ago.

Including SGIA's passenger numbers, MAHB handled 16.7% more passengers in July 2015 to 9.99 million from 8.56 million a year ago, which is the highest passenger traffic handled by the airport operator in a month.

"Though the high July 2015 growth was partly due to the lower base numbers during Ramadan 2014, it is noted that the traffic growth continued even at the end of the month. The end of July 2014 was a peak week before Hari Raya, and the fact that the traffic registered a 5.5% positive for the last week of July 2015 is indeed encouraging," said MAHB.

"Many of the airports registered a double digit growths in July 2015 over July 2014, including KLIA, Penang, Kota Kinabalu, Kuching, Langkawi, Kota Baru, Alor Setar, Subang, Ipoh, Melaka and Tawau. Some of these airports recorded growth rates as high as 36%," it added.

In a separate filing, MAHB disclosed that Faizal Sham Abu Mansor will step down from his post as chief financial officer (CFO) of the group on Aug 17.

Other than MAHB’s CFO office, Faizal also sits on the board of Istanbul Sabiha Gokcen International Airport Investment Development and Operations Inc in Turkey, where he was involved in the acquisition and subsequently the funding for the airport's expansion.

Meanwhile, he is the board member of MAHB's wholly-owned subsidiaries namely Malaysia Airports Capital Bhd, Malaysia Airports Cities Sdn Bhd, Malaysia Airports (Mauritius) Pte Ltd and Malaysia Airports Capital (Labuan) Ltd.

Seremban property developer Matrix Concepts Holdings Bhd's second quarter ended June 30, 2015 (2QFY15) net profit fell 29.7% to RM29.85 million or 6.5 sen per share from RM42.45 millioin or 14 sen per share a year ago, mainly dragged by decrease in revenue recognition from sales of industrial properties which command a higher profit margin.

Revenue for 2QFY15 came in 26.4% lower at RM120.44 million compared with RM163.75 million in 2QFY14. 

Despite the lower earnings, the property developer declared a second interim dividend of 3.5 sen per share (2QFY14: 3.75 sen) for the financial year ending Dec 31, 2015, payable on Oct 9. 

This brings its dividend declared year-to-date to 7.75 sen per share versus 8.75 sen per share in FY14. 

For the six months period (1HFY15), Matrix Concepts’ (fundamental: 2.15; valuation: 1.2) net profit grew 79.4% to RM145.3 million or 31.6 sen per share against RM80.99 million or 26.7 sen per share in 1HFY14. 

Revenue rose 46.78% to RM438.05 million from RM298.45 million in 1HFY14.

Premised on the launches of its development projects moving forward, the group told Bursa Malaysia that it is confident that its profitability will be sustained.

It added the operations of the Matrix Global Schools and d'Tempat Country Club is expected to positively contribute to its profitability as well as greater marketability of its future projects within the vicinity. 

Oilfield and marine services provider Scomi Energy Services Bhd said its marine services division has secured more than RM140 million worth of contracts over the last four months.

In a statement today, Scomi Energy (fundamental: 1; valuation: 1.1) said the contracts are for the transportation of coal and provision of offshore vessel services to clients in Indonesia, Malaysia and Thailand.

The company said the order book of its combined core businesses comprising oilfield services and marine services is currently over US$1.7 billion (RM6.69 billion).

Scomi Energy's marine services president Mukhnizam Mahmud said the company is still focusing on its target market in the Southeast Asian region with Malaysia and Indonesia being the key locations for the company's coal logistics operations.

For its offshore services unit, which provides vessel services to the oil and gas industry, the company is actively bidding for work in India, Myanmar, Indonesia, Malaysia and the Middle East, the statement read.

Scomi Energy said this strategy of expanding geographic footprint is necessary amidst the current weakened demand.

Water infrastructure firm Salcon Bhd announced that Kunci Sempurna Sdn Bhd (KSSB) will be acquiring a 51% stake in its subsidiary, Salcon Petroleum Services Sdn Bhd (SPSSB), which will allow the two companies to collaborate and likely pave the way for Salcon’s venture into the oil and gas sector.

In a filing today, Salcon (fundamental: 1.65; valuation: 1.8) said SPSSB has increased its issued and paid-up share capital from RM2 to RM100,000 by way of allotment of an additional 99,998 shares of RM1 each, which saw 51,000 shares allotted to Kunci Sempurna for RM51,000, cash.

Kunci Sempurna, incorporated on March 18 as a private limited company, is owned by Syed Feisal Alhady (99%) and Rizalmanudin Sukri (1%) and is principally engaged in investment holding activities.

Salcon, meanwhile, gets the remainder 48,998 shares for RM48,998, which effectively brings its 100% shareholding in SPSSB previously to 49% of 49,000 shares.

The group said the reduction represents an opportunity for Salcon to work with the strategic partner i.e. KSSB, who has the expertise and experience in oil and gas industry.

With the reduction of Salcon’s stake, SPSSB ceases to be a subsidiary and becomes an associated company of Salcon.

MPHB Capital Bhd's 98.2%-owned subsidiary Mimaland Bhd has terminated its joint venture agreement (JVA) with Bandar Raya Developments Bhd (BRDB)'s unit Magna Senandung Sdn Bhd.

In a filing with Bursa Malaysia today, MPHB (fundamental: 1.9; valuation: 2.1), which predominantly involved in business of underwriting all classes of general insurance, said that Mimaland had entered into a deed of termination with Magna Senandung to mutually terminate the JVA.

To recap, the two companies had on April 29, 2011 entered into the JVA for the proposed development of the land owned by Mimaland in the Gombak district.

According to previous reports, the JVA for the redevelopment of Mimaland, which was once a famous recreation theme park that had closed down in the early 90's, involved the development of seven parcels of leasehold and freehold land measuring approximately 324.05 acres.

The Media Shoppe Bhd (TMS) chief executive officer Christopher Chan Hooi Guan has ceased to be a substantial shareholder in the Internet-based applications and solutions provider.

In a filing with Bursa Malaysia, it was revealed that Chan has ceased to be a substantial shareholder in the company today when he disposed of 66 million shares, representing a 7.58% stake in the company.

Chan and another shareholder Lee Chi Yeng have both ceased their shareholdings in the company through the disposal of their shareholdings in Master Knowledge Sdn Bhd, which is the single largest shareholder of TMS (fundamental: 1.85; valuation: 0.9).

It is not known to whom the shares were sold to, or at what price.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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