Top Glove, Serba Dinamik, AAX, BCorp, BToto, United Malacca, Pharmaniaga, Duopharma, Asia Media, Microlink, Pertama Digital, Advancecon, MSM, Kenanga Investment Bank

KUALA LUMPUR (June 1): Based on corporate announcements and news flow today, companies in focus tomorrow (June 2) may include Top Glove Corp Bhd, Serba Dinamik Holdings Bhd, AirAsia X Bhd, Berjaya Corp Bhd, Berjaya Sports Toto Bhd, United Malacca Bhd, Pharmaniaga Bhd, Duopharma Biotech Bhd, Asia Media Group Bhd, Microlink Solutions Bhd, Pertama Digital Bhd, Advancecon Holdings Bhd, MSM Malaysia Holdings Bhd and Kenanga Investment Bank Bhd.

Top Glove Corp Bhd‘s plan to list in Hong Kong and raise up to US$1 billion has been delayed as the world’s largest rubber glove maker seeks to resolve a US import ban on its products, sources with direct knowledge of the matter said. Top Glove told Reuters in an emailed statement it could not comment on the listing process due to regulatory reasons.

Serba Dinamik Holdings Bhd, which has been in the spotlight due to issues pertaining to statutory audit, said the proposal to remove KPMG as its external auditor was a decision by its shareholder Datuk Abdul Kadier Sahib, who is also a non-independent non-executive director. The company also highlighted that its board of directors is allowed to discuss the performance of its external auditor KPMG and may propose the latter’s resignation.

AirAsia X Bhd‘s (AAX) shareholders have approved of its restructuring plan, including a cash call to raise up to RM300 million plus share placement to a special purpose vehicle. The low-cost carrier said that it received approval from its shareholders after its extraordinary general meeting today.

Berjaya Corp Bhd (BCorp) has announced boardroom changes effective today. Datuk Seri Robin Tan Yeong Ching, who was made executive deputy chairman recently, has been redesignated as non-independent non-executive deputy chairman. Meanwhile, Derek Chin Chee Sang resigned as an executive director of the group.

Berjaya Sports Toto Bhd (BToto) has appointed Robin Tan as the group’s chairman effective today. He replaces Tan Sri Tan Kok Ping, who has resigned after serving the group since August 2018.

United Malacca Bhd today announced that its chief executive officer Peter Benjamin has resigned, effective June 30, after helming the plantation group for seven years.

Pharmaniaga Bhd has received a request to supply seven million doses of Sinovac Covid-19 vaccine to government-linked companies (GLCs) and state governments, said Senior Minister (Security) Datuk Seri Ismail Sabri Yaakob. These comprise a request to supply four million vaccine doses to GLCs and three million doses to state governments.

Duopharma Biotech Bhd said today it has signed an agreement with the government to supply 6.4 million doses of the Sputnik V vaccine to Malaysia. Through its wholly-owned subsidiary Duopharma (M) Sdn Bhd, it concluded the execution of separate definitive supply agreements with the Malaysian government (represented by the Ministry of Health) and a subsidiary of the Russian Direct Investment Fund for the supply.

Bursa Malaysia Securities Bhd has publicly reprimanded Asia Media Group Bhd and four of its former directors for breaches of the Main Market Listing Requirements and imposed fines totalling RM78,400 on these ex-directors on failures to issue the company’s annual report for the financial year ended Dec 31, 2018 as well as the quarterly report for the financial period ended June 30, 2019.

Microlink Solutions Bhd has signed a key cooperation agreement with Chinasoft International Technology Service (Hong Kong) Ltd to develop joint information and communications technology initiatives and expand their footprint in ASEAN.  

Pertama Digital Bhd has roped in banking-as-a-service provider INFOPRO Sdn Bhd in its consortium to apply for a digital bank licence from Bank Negara Malaysia. The company’s director of strategy Saify Akhtar said the firm identified INFOPRO as the best core banking system provider for Malaysian digital banks because in addition to offering cutting-edge technology, the latter is closely in touch with the local landscape.

Advancecon Holdings Bhd said it has bagged a contract worth RM20.21 million from Sime Darby Property Bhd to undertake earthworks and other ancillary works for a construction project in Dengkil, Selangor. The group said its wholly owned subsidiary Advancecon Infra Sdn Bhd was awarded the job by Sime Darby Property’s unit Sime Darby Property (Serenia City) Sdn Bhd for the Serenia City project.

MSM Malaysia Holdings Bhd said its Johor plant, namely MSM Sugar Refinery (Johor) Sdn Bhd, is expected to resume sugar production and packing on Friday (June 4) after two months of shutdown due to a boiler breakdown.

Kenanga Investment Bank Bhd posted a net profit of RM34.16 million for the first quarter ended March 31, 2021, compared with a net loss of RM6.95 million a year ago. Revenue surged 51.28% to RM250.12 million from RM165.33 million. The group’s performance was mainly attributed to higher contributions from the stockbroking segment and the investment and wealth management segment, as well as higher share of profits from the joint venture with Rakuten Trade. TheEdge