G Capital, ELK-Desa Resources, Freight Management, Computer Forms, Econpile, Apex Healthcare, TNB, Mega First, Nestcon, Sime Darby Plantation, Perak Transit, Dialog, JCY International, SunCon, Deleum, VSTECS, Kumpulan H & L High-Tech & Bright Packaging
Home » G Capital, ELK-Desa Resources, Freight Management, Computer Forms, Econpile, Apex Healthcare, TNB, Mega First, Nestcon, Sime Darby Plantation, Perak Transit, Dialog, JCY International, SunCon, Deleum, VSTECS, Kumpulan H & L High-Tech & Bright Packaging
KUALA LUMPUR (Aug 19): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Friday Aug 20) include: G Capital Bhd, ELK-Desa Resources Bhd, Freight Management Holdings Bhd, Computer Forms (M) Bhd, Econpile Holdings Bhd, Apex Healthcare Bhd, Tenaga Nasional Bhd (TNB), Mega First Corp Bhd, Nestcon Bhd, Sime Darby Plantation Bhd, Perak Transit Bhd, Dialog Group Bhd, JCY International Bhd, Sunway Construction Group Bhd (SunCon), Deleum Bhd, VSTECS Bhd, Kumpulan H & L High-Tech Bhd and Bright Packaging Industry Bhd.
G Capital Bhd’s 96%-owned subsidiary Gunung Hydropower Sdn Bhd has signed a renewable energy power purchase agreement with Tenaga Nasional Bhd. It is expecting a potential revenue of more than RM400 million over the span of 21 years from the date of the commission and completion of the plant.
ELK-Desa Resources Bhd’s net profit for the first quarter ended June 30, 2021 more than doubled to RM4.97 million from RM2.3 million a year ago, driven by higher contribution from the hire purchase segment. Its quarterly revenue grew 3.19% to RM31.37 million from RM30.4 million a year ago, due to contribution from the furniture segment.
Freight Management Holdings Bhd’s net profit for the fourth quarter ended June 30, 2021 surged more than seven times to RM8.58 million, from RM1.11 million a year ago. Revenue improved 80% to RM228.27 million from RM127.05 million previously, attributed to higher freight rates and business activities in the current quarter.
Computer Forms (M) Bhd’s share price topped RM1 for the first time today, after hitting limit up in an apparent response to the printed computer paper manufacturer’s announcement yesterday on its special dividend of 20 sen per share to reward shareholders. Its shares will be traded ex-dividend on Sept 1, 2021 and the dividend will be paid to shareholders on Sept 10, 2021.
Econpile Holdings Bhd said its wholly-owned unit Econpile (M) Sdn Bhd has received an RM22.69 million contract from Tunku Abdul Rahman University College to undertake earthworks, piling, infrastructure and related works in Setapak.
Apex Healthcare Bhd’s net profit slid 1.6% to RM12.83 million in the second quarter ended June 30, 2021, from RM13.03 million a year earlier, on the back of higher costs from new production capacity addition under its associate. Revenue in the quarter rose 4.48% to RM182.56 million, from RM174.73 million in the same quarter last year.
Utility giant Tenaga Nasional Bhd (TNB) has inked Large Scale Solar photovoltaic power purchase agreements with nine special purpose companies incorporated by the successful bidders in the competitive bidding exercise for the LSS Phase 4 project. The agreements are in relation to the LSS bidding cycle four organised by Suruhanjaya Tenaga in the second half of 2020 to develop among others, the transmission-connected LSS projects, which have a total capacity of 450 megawatts of alternating current.
Mega First Corp Bhd’s net profit rose 7.36% to RM87.32 million for the second quarter ended June 30, 2021, from RM81.33 million the same quarter a year ago, helped by higher earnings contributions from its renewable energy and resources divisions. Quarterly revenue increased 14.67% to RM207.84 million, from RM181.26 million previously, on higher sales from those two divisions, as well as the third core segment of packaging.
Building and infrastructure services provider Nestcon Bhd’s wholly-owned subsidiary Nestcon Infra Sdn Bhd was awarded an RM33.7 million contract from MMC Engineering Sdn Bhd for a restoration project of the collapsed Kelantan riverbank in Kampung Pohon Celagi, Pasir Mas, Kelantan.
Sime Darby Plantation Bhd and PTTGC International Pt Ltd are exiting their 50:50 joint venture in the Asia-Pacific business of Emery Oleochemicals (M) Sdn Bhd and Emery Specialty Chemicals Sdn Bhd by selling their collective 100% stake for RM38 million to Edenor Technology Sdn Bhd.
Perak Transit Bhd’s second quarter ended June 30, 2021 net profit rose 67% to RM13.46 million from RM8.05 million a year earlier, as its revenue rose to RM34.95 million from RM19.39 million, on higher contribution from the company’s integrated public transportation terminal operations.
Dialog Group Bhd’s net profit fell 11.57% to RM138.54 million in its fourth quarter ended June 30, 2021, from RM156.68 million a year earlier, on the back of higher operating expenses and revenue falling 3.3% to RM522.14 million, from RM539.94 million, on weaker contributions from the group’s downstream activities.
Hard disk drive maker JCY International Bhd suffered its third quarterly consecutive loss in financial year 2021, as it reported a net loss of RM18.42 million in the third quarter ended June 30, 2021, versus a net profit of RM3.14 million a year ago, which it blamed on the provision of RM17 million for costs in fulfilling the requirements of the responsible business alliance code of conduct and exchange losses, as opposed to exchange gains a year ago. Quarterly revenue, however, increased by 19.43% to RM271.16 million from RM227.04 million a year ago, due mainly to higher volume of shipments and a better mix of products.
Sunway Construction Group Bhd (SunCon)’s net profit more than trebled to RM8.34 million for the second quarter ended June 30, 2021, from RM2.19 million a year ago, on better contribution from its business segments. Quarterly revenue rose 167.7% to RM375.27 million, from RM140.18 million previously, underpinned by higher contribution from the construction and precast segments, as well as the low base cost effect.
Deleum Bhd said today that its 60%-indirect subsidiary Deleum Primera Sdn Bhd (Primera) has been issued a RM1 million compound by the Malaysian Anti-Corruption Commission (MACC) over the illegal scheme involving several of Primera’s directors and certain subcontractors.
VSTECS Bhd’s net profit rose 40.78% to RM9.89 million in the second quarter ended June 30, 2021, from RM7.02 million a year ago, on high demand for its work-from-home products in April and May. The high demand also lifted revenue by 25.65% to RM563.90 million, from RM448.82 million the same quarter a year earlier.
Plastic injection moulding solutions provider Kumpulan H & L High-Tech Bhd said it is buying a land in Perak measuring 16,090 sq metres, together with a 1.5 storey hypermarket constructed on the property for RM13.88 million, for the group’s future investment.
Bright Packaging Industry Bhd has entered into a joint venture agreement with Datai Plantations Sdn Bhd for the purpose of developing oil palm plantations and related facilities and provision of services ancillary on a parcel of land in Sarikei, Sarawak. Bright Packaging said it would invest RM5 million for the venture, as part of its move to diversify from its current core business of aluminium foil manufacturing. TheEdge