KUALA LUMPUR (July 13): Based on corporate announcements and news flow today, companies in focus on Wednesday (July 14) may include: Sedania Innovator Bhd, Sime Darby Plantation Bhd, Pelikan International Corp Bhd, Boustead Plantations Bhd, Ramssol Group Bhd and Genetec Technology Bhd.
Sedania Innovator Bhd's 51%-owned subsidiary Offspring Inc, which produces baby products including eco-friendly diapers and biodegradable wet wipes, is expanding into Thailand to further expand Offspring's global presence. Sedania noted that Offspring will be made available on a dedicated web store designed specifically for Thailand in bilingual languages — English and Thai. It added that the products will also be available in top online shopping platforms such as Shopee and Lazada Thailand.
Sime Darby Plantation Bhd's June foreign shareholding fell to its lowest on record at 9.03%, from 9.14% in May, according to the latest updates on the oil palm planter's website. Sime Darby Plantation's foreign shareholding chart, which has records as far back as December 2017, showed the company's foreign shareholding then was at 13.92%, the highest on record.
Pelikan International Corp Bhd, which earlier disposed of its logistics centre in Germany for a cash consideration of €81 million (RM399.33 million), has decided to distribute a special dividend of 20 sen per share to its shareholders. The stationery maker said it will allocate RM120.64 million for the special dividend, following disposal of its logistics centre in Germany. The exercise is expected to take place within six months upon completion of the proposed disposal.
Boustead Plantations Bhd said today that it has yet to engage with any interested party over its plan to sell its Sarawak estates. Responding to an article in the latest issue of The Edge Malaysia weekly, the group said: "As a corporate entity that will always find ways to provide the best shareholder value, Boustead Plantations seeks prospects to unlocking the values of our assets, including the estates in Sarawak".
Ramssol Group Bhd shares rose as much as 28 sen or 62.22% above its initial public offering price to 73 sen in active trades in its ACE Market debut today. At market close, the homegrown human capital management solutions and technology specialist pared the bulk of gains and ended its maiden trading day at 51 sen, which was six sen or 13.33 % higher than its IPO price of 45 sen. At 51 sen, it has a market capitalisation of RM113.76 million.
Genetec Technology Bhd said it is unaware of any specific reason behind the unusual trading of its shares, besides its recent announcement on June 17 in relation to new orders it had secured. In response to Bursa Malaysia’s unusual market activity query, the company said there has been no corporate development in relation to its business and affairs that have yet to be announced, including those in the stage of negotiation or discussion. It added it is not aware of any rumour, report or any other possible explanation to account for the trading activity.