MSM, Euro Holdings, MBSB, NPC Resources, Ipmuda, Genetec, MQ Technology, LKL International, Advancecon and Apollo Food
KUALA LUMPUR (June 17): Based on today’s company announcements and news feed, featured companies tomorrow (June 18) may include: MSM Malaysia Holdings Bhd, Euro Holdings Bhd, Malaysia Building Society Bhd, NPC Resources Bhd, Ipmuda Bhd, Genetec Technology Bhd, MQ Technology Bhd, LKL International Bhd, Advancecon Holdings Bhd and Apollo Food Holdings Bhd.
MSM Malaysia Holdings Bhd will remain a listed entity even if the Federal Land Development Authority (FELDA) takes over its 51% parent company FGV Holdings Bhd, the company said today. In a virtual press conference after the sugar refiner’s Annual General Meeting (AGM) today, Group Managing Director Syed Feizal Syed Mohammad said Felda’s takeover offer on FGV would not affect MSM. The group is also optimistic on its profitability trajectory this year, although it expects to miss its annual production target of 1.3 million tonnes by a narrow margin.
Office furniture manufacturer Euro Holdings Bhd ended its plan to issue a four-for-one bonus, citing “recent market volatility in share price performance.” The group’s shares hit their limit for two consecutive days Tuesday and yesterday. Euro Holdings said it may consider other corporate exercises to improve stakeholder value and will make the necessary announcements in due course.
Malaysia Building Society Bhd (MBSB) plans to increase its revenue by 3% to 4% this year, thanks to commission income and the expansion of commercial financing.
PNJ Bhd Resources declared today that there will be no suspension of trading in the group’s shares next Wednesday (June 23), the group having submitted yesterday its annual report for the year ended December 31, 2020 (FY20) to Bursa Malaysia for publication. At the same time, the group’s external auditor issued a qualified opinion with significant uncertainty on NPC’s ability to continue operating. Ernst & Young PLT said the Sabah-based oil palm plantation company suffered a net loss of RM13.89 million in fiscal year 20. At the group and corporate level, liabilities Current assets of NPC exceed current assets by RM 456.06 million and RM 452.06 million, respectively.
Ipmuda BhdTrading in shares of has been suspended since 12:21 p.m. today pending an important announcement, the building materials distributor said in a Bursa Malaysia filing today. Prior to the suspension, Ipmuda’s shares traded 18 sen or 10.65% higher at RM 1.87, which values the company at around RM 153.47 million.
Genetec Technology Bhd said today it has secured new orders worth approximately RM47.9 million from existing customers who are global players in the electric vehicle and battery and hard drive segments, the electronics and semiconductors. The scope of work will include, but is not limited to, detailed design and drawing, ordering and acceptance of components, system fabrication and assembly, software coding and programming, factory configuration and system testing and finally installation, commissioning and customer acceptance.
MQ Technology Bhd proposed a private placement of a maximum of 182.81 million new shares, representing no more than 20% of its share capital. Based on an indicative issue price of six sen, the placement is expected to generate gross proceeds of up to Ringgit 8.77 million and Ringgit 10.97 million in the minimum scenario and the maximum scenario, respectively. MQ Tech said the proceeds from the placement would be used to renovate its plant, repay the unsecured loan and for working capital.
LKL International Bhd declared that it had decided to proceed with its private placement of 30% of its issued share capital before its one-for-one bonus issue. This means that the placement will now result in the issuance of a maximum of 177.52 million shares, halved from the 355.05 million shares previously indicated. LKL wanted to raise RM 56.81 million from the placement, of which RM 54.21 million will be used to start a new business in the business of rubber gloves and personal protective equipment.
Civil engineering and infrastructure construction group Advancecon Holdings Bhd diversifies in careers. The group announced the acquisition of 51% of Fook Hua Holdings Sdn Bhd’s 100% stake in quarry operator and rock crusher Spring Energy Resources Bhd for RM 30.4 million.
Pastry chef Apollo Food Holdings Bhd announced a temporary manufacturing shutdown for the second time this month to prevent the spread of Covid-19. The affected manufacturing facility is this time managed by wholly owned subsidiary Apollo Food Industries (M) Sdn Bhd, which was ordered yesterday by the Department of Health (MoH) to close for seven days until June 22 for disinfect its premises.