Pharmaniaga, GenM, IJM Corp, Rubberex, RCE Capital, Ta Ann, Ornapaper, Apollo, Jade Marvel, Tri-Mode and Fintec Global

Pharmaniaga, GenM, IJM Corp, Rubberex, RCE Capital, Ta Ann, Ornapaper, Apollo, Jade Marvel, Tri-Mode and Fintec Global
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KUALA LUMPUR (Aug 12): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Aug 13) include: Pharmaniaga Bhd, Genting Malaysia Bhd, IJM Corp Bhd, Rubberex Corporation (M) Bhd, RCE Capital Bhd, Ta Ann Holdings Bhd, Ornapaper Bhd, Apollo Food Holdings Bhd, Jade Marvel Group Bhd, Tri-Mode System (M) Bhd and Fintec Global Bhd.

Pharmaniaga Bhd has secured a Letter of Acceptance (LoA) from the Ministry of Health to supply an additional six million doses of the Sinovac Covid-19 vaccine. Pharmaniaga said the LoA requires the group to start supplying the vaccines immediately and complete by the end of August. "This LoA will increase the total accumulated supply of Sinovac Covid-19 vaccine for the National Covid-19 Immunisation Programme (NIP) to 20.4 million doses," it said.

Genting Malaysia Bhd's (GenM) outdoor theme park Genting SkyWorlds is said to be in its final stage of development. GenM, however, did not disclose a specific date of the park's opening.

Diversified group IJM Corp Bhd has secured an RM258 million contract for construction works of the East Coast Rail Link (ECRL) project located in Temerloh, Pahang. IJM said the contract was awarded to its wholly-owned subsidiary IJM Construction Sdn Bhd by China Communications Construction (ECRL) Sdn Bhd.

Datuk Dr Teo Tong Kooi has resigned as Rubberex Corporation (M) Bhd chairman effective today, “to pursue personal interests”. The glove manufacturer announced the appointment of YKGI Holdings Bhd chairman Chong Jee Min @ Liew Jee Min as its new chairman.

RCE Capital Bhd’s net profit for the first quarter ended June 30, 2021 surged 55.04% to RM35.39 million from RM22.82 million a year ago, on the back of higher early settlement, net fee income, as well as lower allowances for impairment loss on receivables. The higher early settlement and net fee income also saw quarterly revenue rising 20.58% to RM78.04 million, from RM64.72 million previously.

Timber and oil palm player Ta Ann Holdings Bhd said it is optimistic of an improved performance from its timber segment for the current year. This is mainly due to a shortage of raw materials and increase in housing demand in Australia, the US and other timber-consuming countries.

Ornapaper Bhd announced today the temporary closure of the packaging manufacturer’s factory within Melaka’s Batu Berendam Industrial Area from Friday (Aug 6) to Aug 20 after 11 employees of the company’s wholly-owned subsidiary Quantum Rhythm Sdn Bhd tested positive for Covid-19.

Confectionery manufacturer Apollo Food Holdings Bhd has also announced the temporary manufacturing stoppage of a Johor Bahru manufacturing facility, as a measure to prevent the spread of Covid-19. The affected manufacturing facility, run by wholly-owned subsidiary Apollo Food Industries (M) Sdn Bhd, was ordered by the Ministry of Health yesterday to stop its operations for seven days until Aug 17 and disinfect its premises.

Jade Marvel Group Bhd has entered into a Memorandum of Understanding with Tenaga Era Baru Sdn Bhd for the establishment of a collaboration between the parties in securing development or construction projects such as land reclamation. The two companies aim to work together to tender and undertake the projects which have been mutually agreed by the parties.

Integrated logistics service provider Tri-Mode System (M) Bhd is acquiring a parcel of land measuring 234,432 sq ft for RM15.94 million from Central Spectrum (M) Sdn Bhd to expand its warehouse in Pulau Indah Industrial Park.

Fintec Global Bhd has proposed a private placement to raise up to RM19.2 million for the construction of a factory for its glove business.

S Kanagaraju