Top Glove, Unisem, IOI Corp, Theta Edge, Pertama Digital, Green Packet, YTL Corp, Duopharma Biotech, Bintai Kinden Corp, AirAsia Group, Serba Dinamik Holdings, MMC Corp

Top Glove, Unisem, IOI Corp, Theta Edge, Pertama Digital, Green Packet, YTL Corp, Duopharma Biotech, Bintai Kinden Corp, AirAsia Group, Serba Dinamik Holdings, MMC Corp
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KUALA LUMPUR (Sept 8): Based on corporate announcements and news flow today, companies in focus on Thursday (Sept 9) may include Top Glove Corp Bhd, Unisem (M) Bhd, IOI Corp Bhd, Theta Edge Bhd, Pertama Digital Bhd, Green Packet Bhd, YTL Corp Bhd, Duopharma Biotech Bhd, Bintai Kinden Corp Bhd, AirAsia Group Bhd, Serba Dinamik Holdings Bhd, and MMC Corp Bhd.

Top Glove Corp Bhd said it does not have any link or relationship with Top Gloves Investment, which was previously flagged as a possible clone of the glove manufacturing group by the Securities Commission Malaysia. In a notice on its website, the group said it also does not have any link to any investment programme or trading platform for investments.

Unisem (M) Bhd said its plants in Ipoh have been ordered to shut for seven days from Sept 8 to 15 by the Ministry of Health. The semiconductor assembly and test services provider did not mention the reason for the temporary stoppage of its Ipoh plants. Unisem said the loss in production arising from the closure is estimated to be approximately 2% of the group's total annual production.

The Employees Provident Fund (EPF) trimmed its stake in IOI Corp Bhd to 13.213% on Sept 2 — from 13.283% on Aug 25 — after the fund sold shares in the oil palm planter in several tranches as the latter's share price topped RM4 for the first time in over two months. Following the disposal, the EPF's 13.213% stake in IOI Corp comprised 823.57 million shares, according to the oil palm planter's filing yesterday.

Theta Edge Bhd has appointed Nuraslina Zainal Abidin as its new group chief executive officer (CEO) for a two-year term, effective immediately. Chairman Datuk Noordin Sulaiman said the appointment was subsequent to A Shukor S A Karim's retirement from his post as Theta Edge's group CEO at the conclusion of the company's 28th annual general meeting on June 28.

Pertama Digital Bhd announced that its subsidiary Television Airtime Services Sdn Bhd (TAS) has completed the acquisition of a further 24% of the total ordinary shares in govtech software company Dapat Vista (M) Sdn Bhd from HeiTech Padu Bhd. This followed an announcement in July that TAS had exercised its contractual option to acquire the additional stake on top of the 56% it already held in Dapat.

Green Packet Bhd and FETC International Co will run the country's first ever multi lane free flow (MLFF) tolling system Proof of Concept (POC) on Malaysian highways. The group said the MLFF POC will be installed at Besraya KM5.5 (North Bound) and is scheduled for data collection for three months starting from early 2022.

YTL Corp Bhd closed its fourth quarter ended June 30, 2021 with a swing to profit before tax of RM110.16 million, from a loss before tax of RM135.52 million a year earlier. This was thanks to better performances across all segments, except management services, with the improvement led by the group's utilities arm YTL Power International Bhd and cement division Malayan Cement Bhd. YTL Corp declared a dividend of 2.5 sen per share for the quarter, after a rare occasion of missing a payout for FY20. Its sister company YTL Power also declared a dividend of two sen per share for the quarter, bringing its full-year payout to 4.5 sen per share.

Duopharma Biotech Bhd has denied appointing any party including Bintai Kinden Corp Bhd's unit Bintai Healthcare Sdn Bhd as a distributor of the Sinopharm Covid-19 vaccine in Malaysia. The pharmaceutical company said it was referring to a report concerning Bintai Healthcare partnering with the company to distribute the vaccine in the country.

AirAsia Group Bhd's net loss narrowed to RM580.06 million in the second quarter ended June 30, 2021 from RM992.89 million a year earlier. AirAsia said the group continued with its cost containment measures, including the rightsizing of manpower and salary cuts for management, staff and directors while actively managing its capacity to be in line with demand. Revenue for the quarter jumped 160.82% year-on-year to RM370.61 million from RM142.09 million, driven by better cargo revenue.

Serba Dinamik Holdings Bhd co-founder and non-independent director Datuk Awang Daud Awang Putera was forced to sell 1.8 million shares today. Following the disposal of the shares, his stake in Serba Dinamik stands at 23.63 million shares or 0.637%. The last time Awang Daud was forced to sell his shares was around end-June when he had to dispose of 22.7 million shares on June 28 and another 4.25 million shares on June 30.

The proposed selective capital reduction (SCR) and privatisation of MMC Corp Bhd by tycoon Tan Sri Syed Mokhtar Albukhary are deemed not fair, but reasonable, said independent adviser Alliance Investment Bank Bhd. In the company's circular on the exercise today, Alliance said the SCR is "not fair" as the offer price of RM2 per share is lower than the estimated value of between RM3.32 and RM3.41. However, the adviser is of view that the proposal is "reasonable" on grounds that MMC shares had not traded above the offer price for three years before the proposal was announced on June 3.

Tan Choe Choe