KUALA LUMPUR (June 18): Based on corporate announcements and news flow today, companies in focus on Monday (June 21) may include: Ipmuda Bhd, FGV Holdings Bhd, TDM Bhd, Petra Energy Bhd, Uzma Bhd, Bermaz Auto Bhd, Kerjaya Prospek Property Bhd, Apollo Food Holdings Bhd and Opcom Holdings Bhd.
Ipmuda Bhd, whose shares have been suspended since noon yesterday, announced today that it has signed a slew of Heads of Agreement to acquire several renewable energy (RE) plants and healthcare assets totalling RM192.4 million, in line with the group's growth plan.
In a statement, Ipmuda said it is acquiring a 70% equity interest in Telekosang Hydro One Sdn Bhd and Telekosang Hydro Two Sdn Bhd (collectively, Telekosang), as well as 100% of Telekosang Hydro One ASEAN Green Junior Sukuk for a total consideration of RM163.3 million, to be satisfied by way of issuance of new ordinary shares in Ipmuda. Besides that, Ipmuda is acquiring 100% equity interest in Jentayu Solar Sdn Bhd for RM11.1 million, also to be satisfied by way of issuance of new Ipmuda ordinary shares.
FGV Holdings Bhd has said it will appoint an independent auditor to conduct an assessment of FGV's operations against the 11 indicators of forced labour provided by the International Labour Organization (ILO), as advised by the US Customs and Border Protection (CBP). The group said this appointment is part of the group's commitment to taking all necessary steps towards the lifting of the Withhold Release Order (WRO) issued by the CBP on Sept 30, 2020 against palm oil and palm oil products made by the group and its subsidiaries and joint ventures.
The Indonesian authorities have revoked the plantation business licence (IUP) issued to TDM Bhd's Indonesian subsidiary PT Sawit Rezki Abadi (PTSRA) for its 10,000ha land located in the municipality of Melawi, West Kalimantan, which is expected to result in a financial impact amounting to RM3.5 million on the group. TDM said PTSRA received the revocation letter on June 11. The decision to revoke the IUP was made on the basis that the property has not been developed since 2015. PTSRA is currently consulting its legal counsel and in the process of making an appeal to Indonesian authorities.
A joint venture (JV) between Petra Energy Bhd and Uzma Bhd has secured a contract from Petroleum Sarawak Bhd (Petros) for the exploration, development and production of petroleum in Block SK433, onshore Sarawak. The 29-year contract was secured by Petra Energy Development Sdn Bhd (PEDSB) and Uzma Engineering Sdn Bhd (UESB) JV — wholly-owned subsidiaries of Petra Energy and Uzma, respectively. The value of the contract, however, is not determinable as it is based on the production of the asset.
Bermaz Auto Bhd net profit more than doubled quarter-on-quarter to RM66.83 million in the fourth quarter ended April 30, 2021 (4QFY21) from RM33.08 million in 3QFY21 on higher profits from domestic sales, offset by weaker performance in the Philippines. Quarterly revenue grew 7.23% q-o-q to RM641.2 million from RM597.98 million, also on higher sales at home. The group has declared a dividend of 1.5 sen plus a special dividend of 1.75 sen, bringing the full-year total to 6.5 sen, from 7.45 sen in FY20. On a year-on-year basis, the results arrived from a low base of RM2.46 million in 4QFY20 on revenue of RM299.36 million — its weakest since listing, due to Covid-19 lockdowns in Malaysia and Philippines.
Kerjaya Prospek Property Bhd is buying a piece of leasehold land in Petaling Jaya, Selangor for RM82 million. The property developer said its wholly-owned subsidiary Pixel Valley Sdn Bhd had entered into a sale and purchase agreement with Roset-BLG Sdn Bhd. The exact use of the land has not been determined at this juncture, said the group, adding that the land serves as a landbank for Pixel Valley’s property development activities.
Confectionary maker Apollo Food Holdings Bhd said today its Johor Bahru manufacturing facility has resumed operations after a thorough disinfection was carried out on the premises. The group said its subsidiary had received notice from the Ministry of Health (MoH) to resume operations at the premises, which was suspended on June 15.
Opcom Holdings Bhd plans to raise RM22.62 million via a private placement involving 30% of its share base to fund its existing and future contracts, and for working capital. This marks its second cash call this year, after it completed in April a private placement involving up to 10% of its issued shares that it proposed in February. Opcom is also undertaking an employees’ share option scheme (ESOS) with the number of new shares allotted not exceeding 30% of its total issued shares. The proposals are expected to be completed in the second half of 2021.