KUALA LUMPUR (July 30) : Based on corporate announcements and news flow today, companies that may be in focus on Monday (Aug 2) include IOI Corp Bhd, Malaysia Marine & Heavy Engineering Bhd (MHB), Kerjaya Prospek Group Bhd, Maxis Bhd, Unisem (M) Bhd, Westports Holdings Bhd, AYS Ventures Bhd, Mi Technovation Bhd, Leon Fuat Bhd, YTL Hospitality REIT, Kein Hing International Bhd, Axiata Group Bhd, Pos Malaysia Bhd, Chin Teck Plantations Bhd and Malakoff Corp Bhd.
IOI Corp Bhd said it is restructuring its US$600 million (RM2.54 billion) bond, a move which may include new issuance of notes and securing term loans from banks as the oil palm plantation company eyes mergers and acquisitions (M&A) for growth. TA Securities Holdings Bhd analyst Angeline Chin wrote in a report today that IOI Corp officials said in a recent conversation with TA Securities that the US$600 million bond, which is due in June 2022, represented around half of IOI Corp's reported borrowings as of March 31, 2021.
Malaysia Marine & Heavy Engineering Bhd (MHB) narrowed its net loss for the second quarter ended June 30, 2021 to RM34.38 million from RM397.02 million a year ago, on lower impairments and operating losses in the quarter. The bigger operating losses previously was due to the yard shutdown during the Movement Control Order 1.0. Quarterly revenue jumped 94.74% to RM302.45 million from RM155.31 million, thanks to higher contributions from both marine and heavy engineering divisions.
Kerjaya Prospek Group Bhd has accepted a letter of award from Damansara Peak Sdn Bhd, an indirect subsidiary of Eastern & Oriental Bhd (E&O), worth RM139 million. Kerjaya Prospek said this is its fourth contract secured this year, bringing its year-to-date contract wins to RM523.5 million and its total outstanding order book to RM3.4 billion.
Maxis Bhd said its second-quarter net profit rose 5.26% to RM360 million from RM342 million a year earlier, as the mobile telecommunications network provider’s revenue increased. Quarterly revenue rose 5.25% to RM2.26 billion for the second quarter ended June 30, 2021 from RM2.15 billion a year earlier. Maxis declared a second interim dividend of four sen per share, to be paid on Sept 30.
Unisem (M) Bhd's net profit for the second quarter ended rose 60.9% to RM54.64 million from RM33.95 million a year ago on higher sales volume and selling prices, as well as better interest income. The semiconductor assembly and test services provider posted earnings per share of 6.8 sen for the quarter from 4.67 sen last year. The higher sales volume and average selling prices also helped push up revenue by 29.72% to RM402.23 million from RM310.08 million previously, despite the depreciation of the ringgit against the US dollar.
Westports Holdings Bhd’s net profit rose by 32.48% to RM177.97 million in 2QFY21 from RM134.34 million recorded in the previous year’s corresponding quarter, largely due to higher container revenue. Earnings per share jumped to 5.22 sen from 3.94 sen. The port operator said quarterly revenue increased 17.02% to RM505.07 million from RM431.6 million previously. The group declared its first interim dividend of 8.5 sen per share.
AYS Ventures Bhd is disposing of a piece of freehold land and properties in Selangor for RM10.8 million. The land sale is expected to result in a loss of approximately RM1.2 million. The steel product manufacturer is selling the freehold land in Kapar, measuring 8,809 square meters together with a single-storey open-sided detached warehouse and an annexed double-storey office block, to OCH Land Sdn Bhd.
Mi Technovation Bhd’s net profit for 2QFY21 soared to a record high of RM26.11 million, marking a 43.58% increase from RM18.18 million posted a year earlier, underpinned by higher sales revenue. Quarterly revenue registered strong growth of 89.44% to its highest yet at RM117.29 million — surpassing the RM100 million mark for the first time — from RM61.92 million a year ago, thanks to strong demand for semiconductor equipment.
Leon Fuat Bhd is acquiring a piece of leasehold industrial land in Port Klang for RM20.43 million to expand its welded steel pipe manufacturing activities. The 27,108 square metre piece of land is located less than 500 metres from the group’s existing welded steel pipe manufacturing plant in Kawasan Perusahaan Bandar Suleiman.
YTL Hospitality REIT’s net property income (NPI) for the fourth quarter ended June 30, 2021 rose 23% to RM54.7 million, from RM44.3 a year earlier, amid a higher hotel and property rental contribution. Quarterly revenue increased 28% to RM89.4 million. YTL Hospitality REIT declared a distribution of 2.35 sen per unit for the quarter.
Kein Hing International Bhd, whose share price has climbed by over 50% this month, returned to the black in the latest quarter on higher revenue from both its Malaysian and Vietnam operations and ongoing cost-savings efforts. The group reported a net profit of RM3.02 million or 2.77 sen per share for the fourth quarter ended April 30, 2021, compared to a net loss of RM108,000 a year earlier.
Axiata Group Bhd has proposed the acquisition of a 66.3% stake in PT Link Net Tbk, an internet service and cable television provider in Indonesia. Axiata said it and its 66.48%-owned Indonesian unit PT XL Axiata Tbk have signed a non-binding term sheet with Indonesia’s PT First Media Tbk and Asia Link Dewa Pte Ltd to initiate negotiations for a potential acquisition of the Link Net stake.
Pos Malaysia Bhd has appointed Charles Brewer, who spent 34 years in DHL group, as its new group CEO. Brewer, 56, will be its fourth CEO in five years. Pos Malaysia’s previous CEO Syed Md Najib Syed Md Noor stepped down on June 1, after serving the company for nearly three years. Brewer brings with him a wealth of experience in both logistics and postal services, said the postal group, which has been loss making for the past two financial years.
Chin Teck Plantations Bhd saw its net profit double to RM22.53 million in the third quarter ended May 31 from RM11.19 million a year earlier, fuelled by significant improvements in the group’s revenue. Quarterly revenue surged 45.82% to RM49.13 million from RM33.69 million amid significant increases in its average selling price fresh fruit bunches, crude palm oil and palm kennel. The group declared a special dividend of 11 sen per share, in addition to a second interim dividend of eight sen.
Malakoff Corp Bhd has signed a Memorandum of Understanding with Koperasi Polis Diraja Malaysia Bhd for studying the feasibility of jointly developing rooftop solar projects at selected Royal Malaysia Police (PDRM) building premises. The group said the collaboration is part of the Net Energy Metering 3.0 scheme or for self-consumption, whereby the electricity generated via solar energy will be supplied to PDRM under a long-term power purchase agreement.