KUALA LUMPUR (Oct 15): Based on corporate announcements and news flow on Friday, companies in focus on Monday (Oct 18) may include: Malayan Banking Bhd (Maybank), Duopharma Biotech Bhd, Telekom Malaysia Bhd (TM), Axteria Group Bhd, Petronas Chemicals Group Bhd (PChem), NPC Resources Bhd, BSL Corp Bhd, XOX Bhd, Jadi Imaging Holdings Bhd, KPJ Healthcare Bhd, CTOS Digital Bhd, Jade Marvel Group Bhd, Bank Islam Malaysia Bhd and Sentral REIT.
Malayan Banking Bhd (Maybank) has issued 250 million yuan (about RM161 million) worth of fixed-rate bonds due 2024 on the Singapore Exchange (SGX). According to Maybank's filing to the SGX on Friday, the fixed-rate notes, which pay an annual interest rate of 3.15%, will be listed and quoted on SGX's Bonds Market at 9am on Monday (Oct 18). Maybank however did not say as to how the bond sale proceeds will be used.
Sinopharm's Covid-19 vaccine is now available in Malaysia, said Duopharma Biotech Bhd. Duopharma's wholly-owned unit Duopharma (M) Sdn Bhd has been authorised as Sinopharm's registration holder and to engage in the sales and distribution of the vaccine in the country. Duopharma said the first shipment of the vaccine arrived in batches in September 2021 and it is now widely available at clinics and private hospitals nationwide.
Telekom Malaysia Bhd (TM) has started migrating its unifi customers to private Internet Protocol (IP) to enable more seamless connectivity and better security. This is due to the rapid growth of Internet usage which has caused Internet Service Providers (ISPs) worldwide to face the exhaustion of IPv4 addresses.
Axteria Group Bhd, which was formerly known as Acoustech Bhd, has signed a non-binding letter of intent with Far East Hospitality Management (S) Pte Ltd (FEH), expressing its intent in managing the hotel and serviced suites located in Kota Laksamana, Melaka, which are currently being developed by its wholly-owned subsidiaries Axteria Assets Sdn Bhd and Axteria Eco Sdn Bhd. The two Axteria units are developing a 16-storey development building with 241 hotel rooms and a 44-storey development building with 306 serviced suites, both of which are being proposed to be managed under the FEH brands. Axteria said it is the intention and understanding of both parties to ensure a smooth and effective joint collaboration where FEH shall operate and provide management, brand licensing and other related services to the properties that will meet international upscale standards.
Petronas Chemicals Group Bhd's (PChem) joint-venture BASF Petronas Chemicals Sdn Bhd (BPC) is planning to expand production capacity in its Verbund site in the Gebeng Industrial Area, Kuantan, Pahang. The Gebeng site currently produces 2-Ethylhexanoic Acid (2-EHA). BPC is planning to double its annual production to 60,000 metric tonnes (MT) by 2024, from 30,000MT currently. BPC, which commenced production in Gebeng in 2016, is a joint venture between PChem and German multinational chemical company BASF SE. The latter also produces 2-EHA at its Verbund site in Ludwigshafen, Germany. 2-EHA is a chemical intermediate used as a compound in the production of synthetic lubricants, oil additives, and functional liquids in various industries.
NPC Resources Bhd is disposing of four parcels of agricultural land in Kinabatangan, Sabah, to Syarikat Kretam Plantations Sdn Bhd (SKPSB) for a total of RM52.72 million. The four parcels of land — with a total net book value of about RM45.707 million as of Dec 31, 2020 — are fully cultivated and come with infrastructure, buildings, fixtures, fittings, and assets. NPC’s wholly-owned subsidiary Seraya Plantation Sdn Bhd signed a conditional sale and purchase agreement (SPA) with SKPSB for the disposal of three parcels of land measuring 1,184 acres for a combined RM29.6 million.
BSL Corp Bhd, which is involved in contract manufacturing of electrical and electronic products, announced the resignation of Ngiam Tee Wee as its chief executive officer. The company said Ngiam, 53, has resigned due to “other work commitments as the managing director at the subsidiary level”, but did not elaborate. Ngiam holds 350,00 shares in BSL.
Mobile virtual network operator XOX Bhd, via its wholly-owned subsidiary XOX (Hong Kong) Ltd (XOX HK), has entered into an agreement to acquire 200 million shares or a 19.01% stake in Jadi Imaging Holdings Bhd for RM46 million. XOX HK entered into a sale and purchase of shares agreement with Liew Kim Siong and Ng Poh Imm for the proposed acquisition. Jadi is principally engaged in the business of development, formulation, and manufacturing of toners for laser printers, photocopiers, facsimile machines, and multifunction office equipment.
KPJ Healthcare Bhd and Al Aqar Australia Pty Ltd are varying an existing lease agreement to revise the rental rate of the former's Jeta Gardens elderly care properties in Brisbane, Australia. The new agreement values the properties at AU$28.5 million from AU$45.5 million since 2011, while its base rental rate was reduced to 6.5% to the market value of the properties, from 8.5% previously. The properties are owned by Jeta Gardens (Qld) Pty Ltd (JGPL), which is 57.16% owned by KPJ. while Johor Corp controls 22.01%. The revised rental rate is effective Oct 2, 2021 until Nov 1, 2023, with another revision planned for 2023-2026.
CTOS Digital Bhd's net profit for the third quarter ended Sept 30, 2021 (3QFY21) rose 9.32% to RM11.67 million from RM10.68 million in the same period last year (3QFY20), underpinned by higher revenue from its Malaysian and international segments. The group's quarterly revenue jumped 13.36% to RM38.57 million from RM34.02 million in 3QFY20. Meanwhile, the group also has declared a second interim dividend of 0.32 sen per share to its shareholders, to be paid on Dec 10, 2021.
Jade Marvel Group Bhd is planning to collaborate with a newly incorporated local private company to jointly undertake the management of wellness industry-related businesses via a one-stop information technology control system. Jade Marvel said it has inked a memorandum of understanding with BHealthy Wellness Sdn Bhd, whose owners and directors Chua Kian Leong and Goh Chee Siang both have vast experience in the wellness industry, including spa, reflexology and beauty specialist businesses. Under the MoU, the parties will set up a joint venture with a 51:49 shareholding, with Jade Marvel holding the controlling 51% stake.
Bank Islam Malaysia Bhd plans to establish a dividend reinvestment plan (DRP) to provide shareholders with the option of reinvesting their dividend in new Bank Islam shares, in lieu of receiving cash. As such, under the DRP, Bank Islam's board may decide whether to pay dividends in cash or to offer shareholders the option to reinvest all or part of it in DRP shares. It will also decide on the portion of the dividend on which the DRP applies if the reinvestment option is applicable; and that if the reinvestment option is not exercised by shareholders fully, to have the remaining portion be paid in cash. Proceeds retained from the DRP may be used for the group’s working capital, to repay borrowings or for other requirements of Bank Islam and its subsidiaries that will be identified at the point when such funds are retained.
Sentral REIT (formerly MRCB-Quill REIT) has lodged debt programmes with the Securities Commission, through which it plans to raise up to RM3 billion in combined aggregate value to finance its investment activities and general working capital, as well as to refinance its borrowings. Sentral REIT said its manager Sentral REIT Management Sdn Bhd has proposed the establishment of Commercial Papers (CP) Programme of RM300 million in nominal value, and Medium-Term Notes (MTN) Programme of RM3 billion in nominal value, subject to a combined limit of RM3 billion in aggregate nominal value under Trusmadi Capital Sdn Bhd (the issuer). The issuer, a wholly-owned special purpose vehicle of Maybank Trustees Bhd, has lodged the programmes with the Securities Commission.