KUALA LUMPUR (Dec 28): Based on corporate announcements and news flow on Tuesday, companies in focus on Wednesday (Dec 29) may include Serba Dinamik Holdings Bhd, FGV Holdings Bhd, Petronas Chemicals Group Bhd, Country Heights Holdings Bhd, Ancom Bhd, NWP Holdings Bhd, Kim Loong Resources Bhd, SCGM Bhd and SMTrack Bhd.
The Securities Commission Malaysia on Tuesday secured a warrant of arrest for Serba Dinamik Holdings Bhd group managing director and chief executive officer Datuk Dr Mohd Abdul Karim Abdullah, who is currently at large. Earlier in the day, the regulator charged the group's executive director Datuk Syed Nazim Syed Faisal, group chief financial officer Azhan Azmi, and vice president of accounts and finance Muhammad Hafiz Othman for allegedly submitting a false statement to Bursa Malaysia Securities Bhd in relation to a revenue figure of RM6.014 billion contained in Serba Dinamik's financial report for the quarter and year ended Dec 31, 2020.
Plantation group FGV Holdings Bhd will issue a combined RM500 million worth of Islamic bonds or sukuk in the form of Islamic medium term notes across eight tranches on Dec 31. The eight sukuk tranches, which have tenures of between one and eight years, will pay profit rates of between 4.47% and 5.63% a year.
Permodalan Nasional Bhd's unit trust fund Amanah Saham Bumiputera (ASB) has ceased to be a substantial shareholder in Petronas Chemicals Group Bhd (PetChem) after it disposed of 2.81 million shares in the group. A calculation done on the back of an envelope showed that the latest transaction left ASB with 398.62 million PetChem shares, or just under 5%, in the group. According to Bloomberg data, ASB is the third largest shareholder of the group, behind its parent company Petroliam Nasional Bhd with a 64.35% stake and Employees Provident Fund with a 6.51% stake.
Country Heights Holdings Bhd (CHHB) has inked a licensing agreement and a collaboration agreement with Beijing Wodong Tianjun Information Technology Co Ltd (JD.com) as part of its digital transformation plan. It said the agreement is to develop JD.com's omnichannel business model using JD.com technologies and CHHB's resources for the Malaysian market. With this collaboration, JDMines will build the first physical store of about 100,000 sq ft of retail space on the ground floor of Mines International Exhibition and Convention Centre.
Agricultural and industrial chemical group Ancom Bhd is diversifying into the manufacturing of chemical and animal health products. The group has proposed to acquire an 80% equity interest each in Shennong Animal Health (Malaysia) Sdn Bhd and Vemedim Sdn Bhd (collectively known as Shennong Group) for a total of RM23.92 million. The proposed acquisition comes with an earnings guarantee of RM4.6 million in profit after tax per year for 2022 and 2023.
NWP Holdings Bhd has accepted letters of award from Pembinaan Bintang Baru Sdn Bhd appointing its wholly-owned subsidiary NWP Construction Sdn Bhd as the subcontractor to undertake the supply and installation of aluminium system formwork and scheme coating works for RM30.4 million. It said the works will be done for two development sites in Setia Alam, Selangor and in Kepong, Kuala Lumpur.
Kim Loong Resources Bhd's net profit for the third quarter ended Oct 31, 2021 rose 42.49% to RM41.09 million, from RM28.84 million a year ago, on higher crude palm oil prices. Revenue surged 76.89% to RM492.8 million from RM278.6 million. Kim Loong declared a special dividend of four sen per share, which will be paid on Feb 17.
Food packaging manufacturer SCGM Bhd's net profit fell 18.6% to RM7.83 million for its second quarter ended Oct 31, 2021, from RM9.61 million a year prior, due to higher resin prices. Revenue however was up 18.9% to RM72.54 million, from RM61.01 million in the same quarter last year, on higher demand for its thermo-form food and beverage packaging as well as a 24.1% increase in domestic sales to RM49.21 million, and a 9.3% rise in export sales to RM23.34 million. SCGM declared a second interim dividend of 1.7 sen per share to be paid on Jan 26, with an ex-date of Jan 11.
Radio frequency identification solution specialist SMTrack Bhd has entered into an autonomous aerial vehicle agreement with Strong Rich Holdings Ltd to purchase an EHang 216 (EH216) AAV worth US$2.5 million (RM10.46 million). The rationale of the acquisition is to establish business integration with Strong Rich to enhance SMTrack's revenue. SMTrack said the acquisition will be funded via the proceeds arising from the issuance of redeemable convertible notes and private placement.