Carlsberg Brewery, DNeX, Sarawak Consolidated, Econpile, Green Packet, GHL, Media Prima, AirAsia Group, Cycle & Carriage and Minetech Resources

Home » Carlsberg Brewery, DNeX, Sarawak Consolidated, Econpile, Green Packet, GHL, Media Prima, AirAsia Group, Cycle & Carriage and Minetech Resources

KUALA LUMPUR (May 18): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (May 19) include Carlsberg Brewery Malaysia Bhd, Dagang NeXchange Bhd, Sarawak Consolidated Industries Bhd, Econpile Holdings Bhd, Green Packet Bhd, GHL Systems Bhd, Media Prima Bhd, AirAsia Group Bhd, Cycle & Carriage Bintang Bhd and Minetech Resources Bhd.

Carlsberg Brewery Malaysia Bhd‘s net profit for the first quarter ended March 31, 2021 fell 8.91% to RM66.46 million from RM72.96 million a year earlier, as it recorded lower sales in Malaysia, which were partially mitigated by higher sales in Singapore and lower operational costs. Quarterly revenue fell 9.81% to RM532 million from RM589.87 million, following the reimposition of the Movement Control Order from Jan 13 to Feb 18 in several states, which impacted on-trade consumption and caused weaker Chinese New Year sales. On a quarter-on-quarter basis, however, the group’s net profit rose 75.1% from RM37.95 million in the preceding quarter, as revenue rose 12.6% from RM472.54 million, supported by sales recovery in both Malaysia and Singapore.

Dagang NeXchange Bhd (DNeX) said its Indonesian consortium has bagged a three-year contract, with an option to extend for a further three years, to supply installation and maintenance support services of submarine cable communications system via the group’s vessel. The consortium, which was formed between its business unit PT DNeX Telco Indonesia and PT Samudera Mbiantu Sesami, has signed an agreement with PT Infrastruktur Telekomunikasi Indonesia (TelkomInfra) to provide the services. Under the agreement, TelkomInfra will pay a standby charge of 213 billion rupiah (RM63 million) over the initial three-year period, excluding daily rates applicable depending on the work scope. With an assumption of 65% vessel utilisation rate in a year, estimated total revenue per year including standby charge is 215 billion rupiah (RM62 million).

Sarawak Consolidated Industries Bhd‘s unit SCIB Properties Sdn Bhd has secured an estimated RM120 million contract to build high-rise residential units within Sering district in Kota Bharu, Kelantan under the PR1MA Corp Malaysia affordable homes scheme.

Piling and foundation specialist Econpile Holdings Bhd‘s unit Econpile (M) Sdn Bhd has secured a foundation and structure works contract worth RM27.09 million from Satin Magic Sdn Bhd, to undertake the work package which includes demolition, site clearance, earthworks, site works and reinforced concrete works for a luxurious seven-storey apartment building located in Bukit Damansara, Kuala Lumpur.

Green Packet Bhd plans to raise up to RM328.37 million through a rights issue with free detachable warrants, to fund the expansion of its digital services business and for general working capital. The exercise will entail an indicative issuance of up to 965.79 million rights shares together with up to 643.86 million warrants, based on an indicative entitlement basis of three rights shares for every five existing shares held, together with two free detachable warrants for every three rights shares subscribed. The gross proceeds to be raised from rights issue with warrants are based on an indicative issue price of 34 sen per rights share.

GHL Systems Bhd announced that PayLater by Grab will be made available to selected online GHL merchants that are utilising the eGHL Payment Gateway. PayLater is a payment option piloted by Grab to provide users with a convenient way to pay for their online purchases and manage their monthly cash flow, GHL and Grab said in a joint statement today. “Users can choose to make a single payment at the end of the month or split their payments into four monthly instalments with zero interest charge. This also removes the burden of relying on other payment methods such as credit cards, which normally come with additional charges of annual fees, and late repayment fees plus interests,” the statement said.

Media Prima Bhd group managing director Datuk Iskandar Mizal Mahmood has resigned from the position with immediate effect, four months ahead of the end of his contract on Sept 30. Media Prima cited “to focus on his other commitments” as the reason for Iskandar Mizal’s resignation. In an internal memo sighted by theedgemarkets, Media Prima told staff that the group’s operations will be led by group executive director Rafiq Razali until further notice.

AirAsia Group Bhd has appointed Amanda Woo as the chief executive officer of airasia super app, previously known as, with effect from tomorrow (May 19). In her new role, Woo will be reporting to Aireen Omar, president (AirAsia Digital), AirAsia Group. “The super app is at an important stage of its growth, focusing on its three verticals — travel, e-commerce and fintech,” said Aireen, adding that it is crucial that AirAsia continues to innovate and find ways to grow the super app’s stickiness with consumers across all three verticals in the quest to become ASEAN’s preferred super app.

Jardine Cycle & Carriage Ltd (Jardine CCL) is further extending — for one last time — the deadline of its takeover offer for Cycle & Carriage Bintang Bhd shares it does not already own. The deadline for the acceptances of the offer is now extended from May 21 to June 4. As of today (May 18), the total number of shares in the Mercedes-Benz vehicles dealer held by Jardine CCL stands at 76.21 million (representing a 75.64% stake), compared with 66.96 million shares (66.47%) on April 7. If another 513,900 shares (0.51%), for which the received acceptances are pending verification, are included, the total number of shares held would be 76.72 million (76.15%).

Minetech Resources Bhd has disposed of its 60% stake in quarry operator Bertam Capital Sdn Bhd for RM10.2 million. The engineering services company said it expects to receive an estimated one-off gain of RM1.57 million after taking into consideration the estimated expenses of RM70,000 in relation to the disposal of the 60% equity interest to Bertam Roadbase Sdn Bhd, which owns the remaining 40% stake. The net cash proceeds from the disposal received will be mainly used for working capital and/or for investments in its existing businesses, defraying estimated expenses in relation to the disposal, as well as further repayment of borrowings.-TheEdge