MR DIY, Comfort Gloves, Perak Transit, Dayang, Mah Sing, BLD Plantation, Perstima, Bina Darulaman, Astro, VS Industry, Berjaya Assets, KESM Industries, Sapura Energy, Advancecon, Southern Acids

MR DIY, Comfort Gloves, Perak Transit, Dayang, Mah Sing, BLD Plantation, Perstima, Bina Darulaman, Astro, VS Industry, Berjaya Assets, KESM Industries, Sapura Energy, Advancecon, Southern Acids
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KUALA LUMPUR (Sept 21): Based on corporate announcements and news flow today, companies in focus on Wednesday (Sept 22) may include MR DIY Group (M) Bhd, Comfort Gloves Bhd, Perak Transit Bhd, Dayang Enterprise Holdings Bhd, Mah Sing Group Bhd, BLD Plantation Bhd, Perusahaan Sadur Timah Malaysia (Perstima) Bhd, Bina Darulaman Bhd, Astro Malaysia Holdings Bhd, VS Industry Bhd, Berjaya Assets Bhd, KESM Industries Bhd, Sapura Energy Bhd, Advancecon Holdings Bhd and Southern Acids (M) Bhd.

Home improvement retailer MR DIY Group (M) Bhd has embarked on its "Poket Selamat 7" campaign to ensure members of the public have affordable and accessible personal protective gear to stay safe as offices and businesses around the country reopen and as students prepare for a return to school in October. The retailer said effective from Sept 15, 2021, three-ply face masks are priced at RM5/box (down from RM5.90/box previously), while face shields are priced at RM5.90/piece (down from RM7.90/piece).

Comfort Gloves Bhd's net profit in the second quarter of financial year 2022 (2QFY22) ended July 31, 2021 fell 32.09% to RM148.82 million from its record RM219.13 million in 1QFY22, hit by its products' lower average selling prices (ASPs). The weaker ASPs more than offset higher volume sold in the period as quarterly revenue fell 6.84% to RM504.23 million from RM541.24 million.

Perak Transit Bhd has issued a second tranche of RM100 million Islamic medium term notes to finance its working capital requirement and capital expenditure for the development of its new transportation terminal in Bidor. The Perak-based bus operator said the unrated Islamic securities, in which United Overseas Bank (Malaysia) Bhd and AmBank Group are subscribers, comprise the second tranche under its maiden RM500 million 15-year sukuk murabahah programme launched in 2019.

Dayang Enterprise Holdings Bhd's share price dropped below RM1 today for the first time since November last year. Since the beginning of the year, the counter has fallen by 24.58% from a peak of RM1.65. Notably, the selling pressure on the stock has been fuelled by the group's financial performance for its 2QFY21. The group recently reported that its net loss widened to RM21.89 million for 2QFY21 ended June 30, 2021, from RM985,000 a year ago, due to higher operating costs amid the pandemic.

Mah Sing Group Bhd plans to unveil 10 property launches this year as buyers' confidence returns amid the opening of more economic sectors and relaxation of more activities, driven by the positive progress in the National Recovery Plan and strong vaccination rate. These launches have a key focus on affordable products.

BLD Plantation Bhd's net profit for 1QFY22 ended June 30, 2021 increased almost four times to RM16.21 million from RM4.42 million a year ago. It works out to earnings per share of 17.34 sen for the quarter, higher by 12.62 sen from a year ago. Revenue increased 36.3% to RM540.49 million from RM396.52 million.

Perusahaan Sadur Timah Malaysia (Perstima) Bhd's net profit slumped 48.29% to RM5.4 million for 1QFY22 ended June 30, 2021, from RM10.44 million a year ago, on lower profit margin despite higher sales volume. Quarterly revenue, however, was up 25.48% to RM251.78 million, from RM200.65 million previously, due to higher sales volume and selling price.

Bina Darulaman Bhd's joint venture with Menteri Besar Kedah Inc has entered into a concession agreement for a mixed development of premium brand outlets, with boutique hotels and other amenities in Bandar Padang Mat Sirat, Langkawi. The project comprises premium and duty-free outlets, tourism and culture village, retail and F&B outlets, as well as boutique hotels, all under an eco-friendly concept.

Astro Malaysia Holdings Bhd's net profit for 2QFY22 ended July 31, 2021 fell 34.81% to RM87.13 million from RM133.65 million a year ago, on subdued commercial subscription and merchandise sales. The broadcaster has declared a second interim dividend of 1.5 sen per share. The group saw higher content costs for its television unit while sales from its home-shopping unit fell on negative consumer sentiment amid the pandemic.

The Employees Provident Fund (EPF) has emerged as a substantial shareholder of VS Industry Bhd for the first time after raising its direct stake in the electrical and electronic products contract manufacturer to 5.053% comprising 192.49 million shares. VS Industry said the EPF raised its direct stake in VS Industry to 192.49 million shares after acquiring 5.38 million shares.

Berjaya Assets Bhd's net loss narrowed to RM83.69 million for 4QFY21 ended June 30, 2021, from RM115.83 million a year ago, as the property investment and hotel and recreation business segments incurred lower operating costs amid further cost reductions. Revenue inched up 1.69% to RM36.73 million from RM36.12 million in the same quarter last year, mainly due to a higher number of draws conducted by the group's Sarawak-based number forecast operating unit Natural Avenue Sdn Bhd.

KESM Industries Bhd slipped back into the red in 4QFY21 ended July 31, 2021 with a net loss of RM654,000 compared with RM894,000 net profit in 3QFY21, as it continued to see weak volume for its burn-in, testing, and electronic manufacturing services. Its financial performance also declined on a quarterly basis due to lower gain on disposals, KESM said in its filing. Revenue fell 5.05% quarter-on-quarter to RM58.05 million from RM61.14 million.

Sapura Energy Bhd said its group chief financial officer (CFO) Reza Abdul Rahim will be stepping down effective Oct 1, to pursue other opportunities. Reza joined the group in 2012 as senior vice president of the offshore construction and subsea services division, and was subsequently appointed group CFO in June 2016. Meanwhile, Sapura Energy's vice president, group controller Andy Chew will serve as acting group CFO following Reza's departure.

Advancecon Holdings Bhd is tendering for RM1.7 billion worth of projects to bolster its order book. In a statement, the earthworks and civil engineering services specialist said it is bidding to undertake earthworks and civil engineering works for infrastructure, residential and commercial developments in Peninsular and East Malaysia.

Southern Acids (M) Bhd's net profit rose 36.83% to a record RM23.48 million in 1QFY22 ended June 30, 2021, from RM17.16 million a year earlier, as contributions from all three key business segments more than doubled. The jump in contribution from the oleochemical, milling and estate, and healthcare segments more than offset the investment and services segment's swing into the red.

S Kanagaraju