KUALA LUMPUR (Dec 9): Based on corporate announcements and news flow today, the companies that may garner interest of investors tomorrow (Wednesday, Dec 10) could include the following: Abric Bhd, IJM Corporation Bhd, ViTrox Corp Bhd, Boustead Heavy Industries Corp Bhd (BHIC), AmanahRaya Real Estate Investment Trust (AmanahRaya REIT), Sapura Kencana Petroleum Bhd, Berjaya Food Bhd (BFood), Compugates Holdings Bhd and Tanah Makmur Bhd.
Abric Bhd's shareholders have approved the disposal of the group's core business in security seal production to UK-listed Essentra plc, for RM146 million.
The business will be disposed, after Abric acquires the remaining 40% stake in Abric Eastern International Ltd from Thailand-based Vitoorapakorn Holdings Co Ltd.
Both proposals were approved at Abric's extraordinary general meeting (EGM) today.
Abric executive chairman Datuk Ong Eng Lock said the corporate exercises are expected to be completed next Tuesday (Dec 16).
He said Abric had 12 months to find a new core business, but declined to elaborate on the potential sectors being explored.
"We are looking at various opportunities, which could also be regional. I cannot divulge further, but of course, the business has to be scalable and profitable," he told pressmen, after Abric's EGM.
Abric slipped 1 sen or 1.56% to close at 63 sen, translating into a market capitalisation of RM64.15 million.
IJM Corp Bhd has accepted two letters of award (LOAs) from Sime Darby Sunrise Development Sdn Bhd, which are collectively worth RM435.3 million.
In a filing with Bursa Malaysia, IJM Corp said its wholly-owned subsidiary IJM Construction Sdn Bhd has accepted the LOAs for the superstructure, infrastructure, and landscaping works for the proposed mixed development, known as "RADIA", at Persiaran Arked, Seksyen U8, Bukit Jelutong, Mukim Damansara, Daerah Petaling, Selangor Darul Ehsan.
The development is divided into four phases.
Phase one and two of the development, which consists of commercial complexes, service apartments, facilities, and car parks, has a contract sum of RM262.97 million. Works will commence on Dec 15 this year (2014), and will be completed in 26 months.
Meanwhile, phase three and four has a contract sum of RM172.37 million, and will commence on June 15 next year (2015), which also has a completion period of 26 months.
IJM Corp closed up 1 sen or 0.15% at RM6.58, giving it a market capitalization of RM9.78 billion. The counter saw some 2.8 million shares traded.
ViTrox Corp Bhd's wholly-owned subsidiary has acquired a 22.24-acre land in Seberang Perai Selatan, Penang, for RM34.2 million, from The Penang Development Corp (PDC).
Its wholly-owned unit ViTrox Technologies Sdn Bhd signed a sale and purchase agreement with PDC today, said ViTrox in a filing with.
The acquisition would be funded by internal funds and borrowings, and will allow the group to undergo a three-phase expansion plan, scheduled to be fully completed by 2023, said Vitrox.
The group anticipates strong business growth that may cause a shortage of space at its existing facility by 2017. The facility is currently operating at an utilisation rate of 80%.
"With this foresight, we need to prepare ahead, in order to eliminate possible business bottlenecks caused by the lack of physical operating space," said the group.
ViTrox shares closed down 4 sen or 1.7% to RM2.34 today, translating into a market capitalisation of RM546.93 million.
Boustead Heavy Industries Corp Bhd's (BHIC) wholly-owned unit, BHIC Defence Techservices Sdn Bhd (BDTS), has bagged a RM3.7 million contract from the chief secretary to the Defence Ministry, to supply spare parts for the Royal Malaysian Navy's (RMN) weaponry.
BHIC told Bursa today that the contract entails the maintenance and supply of spare parts for 76/62MM Oto Melara Gun, 40/70MM Oto Breda Gun, 30MM Oto Breda Gun and 102MM Light Decoy Launcher for the RMN.
The contract will be for three years from the date of acceptance by BDTS.
BHIC shares fell 2 sen or 0.88% to close at RM2.25 today, bringing its market capitalisation to RM561.51 million.
AmanahRaya Real Estate Investment Trust (AmanahRaya REIT) has proposed the disposal of Kontena Nasional Bhd Distribution Centre 11 in Klang, to Noble Perspective Sdn Bhd for RM34 million.
The REIT told the bourse that the disposal entails the two leasehold lands on the property, as well as the buildings and structures on them.
"The proposed disposal is an opportunistic disposal and proceeds from the proposed disposal will be redeployed for more yield and value accretive properties," it said.
The REIT expects a net gain of RM1 million from the disposal of the property.
The counter closed 1.5 sen lower at 82.5 sen, translating to a market capitalisation of RM472.91 million.
SapuraKencana Petroleum Bhd's net profit leapt 42% to RM348.4 million in the third quarter ended Oct 31, 2014 (3QFY15), from RM245.6 million in 3QFY14, mainly due to higher contribution from its drilling and energy services (DES) segment.
The group told Bursa that its DES segment recorded higher profit and revenue, due to the inclusion of the SapuraKencana Energy Inc Group (SKEI) business. SKEI is a group of subsidiaries involved in upstream oil & gas activities, which was acquired by the group on Feb 11, 2014.
The group also declared a tax exempt second interim dividend of 2 sen per share, in the financial year ending Jan 31, 2015.
Its third quarter revenue nudged up 1.2% to RM2.41 billion, from RM2.38 billion a year ago, due to higher revenue contribution from its DES segment, inclusion of revenue from the SKEI business.
For the nine-month period (9MFY15), net profit soared 74% to RM1.303 billion, from RM749.7 million in the same period last year, while revenue grew 16.2% to RM7.55 billion, from RM6.49 billion a year earlier.
It added that the group made a gain of RM177.8 million from the SKEI acquisition, which further boost its profit.
In a separate announcement, SapuraKencana revealed that Tan Sri Mokhzani Mahathir has purchased two more million shares yesterday (Dec 9) and today, to increase his indirect equity stake to 10.18% or some 610 million shares in the group.
SapuraKencana closed down 7 sen or 2.8% to RM2.45, giving it a market capitalisation of RM14.44 billion.
Berjaya Food Bhd's (BFood) net profit increased more than 36-fold to RM163.6 million for the second financial quarter ended Oct 31, 2014 (2QFY15), from RM4.46 million a year ago, due to a one-time investment gain of RM158.6 million.
BFood told Bursa that the gain was from the re-measurement of the acquisition of a 50% equity interest in Berjaya Starbucks Coffee Co Sdn Bhd (BStarbucks), held by the group.
The acquisition of the remaining 50% equity interest in BStarbucks was completed on Sept 18 this year, for US$88 million (RM279.51 million), it added.
Excluding the one-time net gain, the group's net profit only grew 32.4% or RM1.64 million to RM6.7 million, versus RM5.06 million in 2QFY14.
Revenue for 2QFY15 jumped 123% to RM75.32 million, from RM33.72 million a year ago, mainly due to the consolidation of BStarbucks, as well as contribution from Starbucks operations in Brunei, which commenced operation in February this year.
Earnings per share for 2QFY15 rose substantially to 53.71 sen, from 1.69 sen in 2QFY14.
The group also declared its first interim dividend of 2.5 sen per share for the financial year ending April 30, 2015 (FY15), payable on Jan 22, 2015.
For the six months ended Oct 31, 2014 (1HFY15), its net profit jumped 1652.1% to RM169.6 million, from RM9.68 million a year ago, while revenue grew 63.65% to RM114.95 million, from RM70.24 million.
Excluding the one-time investment gains of RM158.6 million, its net profit climbed 15% to RM12.96 million in 1HFY15, compared with RM11.24 million in 1HFY14.
Compugates Holdings Bhd's managing director Goh Kheng Peow has disposed 30 million shares or a 1.4% equity stake in the provider of imaging and ICT-based products.
A filing with Bursa Malaysia showed Goh has sold the shares at 5 sen apiece,through the open market.
This leaves Goh with 494.06 million shares or 23.1% equity stake in Compugates, with a direct shareholding of 18.01%, and a 5.14% indirect shareholding in the company.
A week ago, Goh acquired 14 million shares in Compugates at 12 sen per share, and an additional 10 million shares at 8 sen per share, via off-market transactions.
Compugates shares closed at half a sen or 10% higher at 5.5 sen today, giving it a market capitalisation of RM117.39 million.
Tanah Makmur Bhd said it has received a Letter of Intent (LOI) from the Pahang state government, for the state's new administrative complex in Kuantan, Pahang.
The group told Bursa today, that its 65%-owned unit Kreatif Sinar Gabungan Sdn Bhd had on Monday (Dec 8), received the LOI that was dated Nov 24, and signed by the Pahang Menteri Besar Datuk Seri Adnan Yaakob on behalf of the state government.
The group said Kreatif Sinar Gabungan will be the developer, and the power to appoint the developer for the project will be the State Government.
Tanah Makmur said 30% of the works for the implementation of the project are to be awarded to Bumiputera contractors from Pahang.
Shares of Tanah Makmur inched up 2 sen or 1.25% to close at RM1.62, giving it a market capitalisation of RM645.02 million.