BFood, Mesiniaga, Kelington, NCT Alliance, Maybank, Bintai Kinden, MAHB, TM, RGT, TNB, UWC and JAKS Resources

BFood, Mesiniaga, Kelington, NCT Alliance, Maybank, Bintai Kinden, MAHB, TM, RGT, TNB, UWC and JAKS Resources
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KUALA LUMPUR (Sept 7): Based on corporate announcements and news flow today, companies in focus on Wednesday (Sept 8) may include Berjaya Food Bhd (BFood), Mesiniaga Bhd, Kelington Group Bhd, NCT Alliance Bhd, Malayan Banking Bhd's (Maybank), Bintai Kinden Corp Bhd, Malaysia Airports Holdings Bhd
(MAHB), Telekom Malaysia Bhd (TM), RGT Bhd, Tenaga Nasional Bhd (TNB), UWC Bhd and JAKS Resources Bhd. 

The Social Security Organisation (Socso) has emerged as one of Berjaya Food Bhd's (BFood's) major shareholders for the first time after an off-market deal, which raised the agency's stake in the company to 5.03%. Socso acquired 16 million BFood shares on Sept 2 via married and direct deals, raising its shares in the company to 18 million. 

The Employees Provident Fund (EPF) has awarded a build and migrate-based data centre cabling project in Sungai Buloh to Mesiniaga Bhd, according to EPF’s latest tender results. The project awarded to Mesiniaga is among EPF’s latest tender results for July, indicated on the pension fund’s website.

Kelington Group Bhd’s wholly-owned subsidiary Kelington Eengineering (S) Pte Ltd has clinched a new ultra high purity (UHP) contract to undertake the bulk gas
system distribution works for a semiconductor manufacturer’s new fabrication plant in Singapore. The group said the contract, worth RM49 million, was secured
from “a global leader in engineering and project management of high-technology facilities'', but did not name the client.

NCT Alliance Bhd’s (formerly known as Grand-Flo Bhd) posted a net profit of RM9.48 million for the second quarter ended June 30, 2021, compared with a net loss of RM417.000 a year earlier, on the back of a higher revenue of RM49.2 million versus RM18.88 million previously. Executive chairman and group managing director Datuk Seri Yap Ngan Choy said the company's momentum was underpinned by its strategic plans to expand in the property sector as a leading developer. He added that the improved performance was primarily driven by the newly-acquired Grand Ion Majestic and Grand Ion Delemen projects, with the acquisitions completed in June.

Malayan Banking Bhd's (Maybank) foreign shareholding rebounded to 16.28% as at Aug 27, after foreign investors appeared to have accumulated more Maybank shares in the two weeks since Aug 13, according to the latest updates on Maybank’s website. 

Bintai Kinden Corp Bhd has via its unit Bintai Healthcare Sdn Bhd, inked a deal with NGT Solutions (M) Sdn Bhd (NGTS) to jointly distribute Sinopharm's Covid-19 vaccine to the private sector in Malaysia. The mechanical and electrical engineering services provider, which ventured into the distribution of Covid-19 vaccine in August 2020, said it entered into a business collaboration agreement with NGTS, with the aim of achieving a sales forecast of vaccination for 5,000 persons in the first three months, once the vaccine is made available to the private sector.

Malaysia Airports Holdings Bhd (MAHB) aims to draw at least half of its more-than-300 retailers onto its e-commerce platform shopMYairports in the next three years. According to MAHB senior general manager of commercial services Hani Ezra Hussin, the platform currently has less than 10 big partners that carry all kinds of products from chocolates to perfumes.

Telekom Malaysia Bhd (TM) is partnering with India’s Tata Communications Ltd to provide IP transit services in the ASEAN region. TM said they will offer stable, high-speed and reliable connectivity in the region and open access to global enterprises.

RGT Bhd has announced that it has entered into an agreement to acquire a 70% equity stake in Top Degree (M) Sdn Bhd for RM14 million. 

Tenaga Nasional Bhd (TNB), through its wholly-owned subsidiary TNB Power Generation Sdn Bhd (TNB Genco), has received a letter of notification from the Ministry of Energy and Natural Resources to develop a hydroelectric power plant with a capacity of 300MW at Gua Musang, Kelantan. The construction works of the project are estimated to take five years and will be completed by June 1, 2027. 

UWC Bhd wraps up its financial year ended July 31, 2021 with a 4.83% increase in its fourth quarter net profit to RM19.55 million, from RM18.65 million in the same quarter a year ago, with full year net profit up 58.47% to RM91.54 million. The semiconductor test equipment maker said the quarterly earnings growth was mainly due to developments in both the semiconductor industry and life science industry, which contributed to 66% and 26% of its total revenue respectively. 

JAKS Resources Bhd posted a 13-fold increase in its net profit to RM28.81 million for the second quarter ended June 30, 2021, from RM2.17 million a year ago, supported by its RM37.5 million share of profit from its 30%-owned power plant joint venture in Vietnam. Revenue fell 44.55% to RM41.59 million, from RM75 million in the same quarter last year, due to the lower revenue recognised from the construction division. This, the group said, was due to lower revenue recognised of RM28.3 million from the Vietnam engineering, procurement and construction works, compared with RM64.7 million previously.

S Kanagaraju