Sunsuria, Puncak Niaga, AT Systematization, Genetec, Pharmaniaga and Privasia



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KUALA LUMPUR (March 10): Based on corporate announcements and news flow today, companies that may be in focus on tomorrow (Wednesday, March 11) include: Sunsuria Bhd, Puncak Niaga Holdings Bhd, AT Systematization Bhd, Genetec Technology Bhd, Pharmaniaga Bhd and Privasia Technology Bhd.

Sunsuria Bhd will see its executive chairman and substantial shareholder Datuk Ter Leong Yap injecting over 440 acres of landbank into the group, which will lead to the group's total project gross development value (GDV) rising to RM11 billion, from RM300 million now.

In a statement today, Sunsuria (fundamental: 2.5; valuation: 1.2) said it has entered into several agreements with Ter for stakes in three property companies, for a combined RM324.97 million. These companies have on-going and upcoming developments in Salak Tinggi and Setia Alam in Selangor and Medini in Johor.

The collective proposals are expected to complete by the second quarter of 2015. Sunsuria’s existing land bank will expand from 4.71 acres to 445 acres.

Taking into account the effective interest of Sunsuria in the projects arising from the proposals, Sunsuria said this will translate into an effective GDV of RM4.5 billion for its future income stream.

Trading in Sunsuria, which was suspended for two market days, will resume tomorrow.

Puncak Niaga Holdings Bhd (fundamental: 1.9, valuation: 2.4) has yet to receive either a written request from Pengurusan Air Selangor Sdn Bhd (Air Selangor) for a further extension of time for the fulfilment of the sale and purchase agreement (SPA) for the disposal of its water assets, or a notice to rescind the SPA.

This follows Selangor Menteri Besar Mohamed Azmin Ali’s statement that the water deal is now void, after the state government declined to give a third extension to the master water agreement, which had lapsed yesterday (Monday, March 9).

In a filing with Bursa Malaysia today, Puncak Niaga said it will have a meeting to assess the impact of any further delay of the proposed disposals on the daily operations of Puncak Niaga (M) Sdn Bhd (PNSB) and Syarikat Bekalan Air Selangor Sdn Bhd (SYABAS).

The group said it will decide on the next course of action, after taking into consideration the recommendations of the management of PNSB and SYABAS.

AT Systematization Bhd (fundamental: 2.1, valuation: 0.3) has received a nod from the Sustainable Energy Development Authority Malaysia (SEDA) to supply renewable solar energy to Tenaga Nasional Bhd (TNB).

It announced to Bursa Malaysia that its unit AT Engineering Solution Sdn Bhd (ATES) has secured the Feed-in Approval (FiA) from SEDA to supply up to 425 kilowatts (kW) of renewable energy.

It said ATES is expected to sign an agreement with TNB (fundamental: 1.3; valuation: 1.8) for the sale and delivery of renewable energy by ATES to TNB, for a concession period of 21 years.

ATES will be building a 425kW solar power plant on its existing factory in Bayan Lepas, Penang, by December this year. It estimates the plant would be able to generate RM11 million worth of renewable energy, during the concession period of 21 years.

Genetec Technology Bhd has secured new orders from the electronics, semiconductor, hard disk drive (HDD), automotive and other industries, totalling RM40.6 million.

According to its filing with Bursa Malaysia, up to RM34.5 million of the orders were from the group’s existing clients from the electronics, semiconductor and hard disk drive (HDD) industries. The rest were from the automotive and other industries.

Genetec (fundamental: 1.2; valuation: 1.2) said these orders are expected to contribute positively to its earnings for the financial year ending Mar 31, 2015 (FY15) and FY16.

Pharmaniaga Bhd’s unit, Pharmaniaga Logistics Sdn Bhd (PLSB), has entered into a supply agreement with Universiti Kebangsaan Malaysia (UKM) for the purchasing, storing, supplying and delivering of pharmaceutical goods.

In a filing with the exchange today, Pharmaniaga (fundamental: 0.95; valuation: 2.1) said the value of the products to be supplied to UKM was not stipulated in the supply agreement, but said the total value of the contract will depend on the actual volume, the agreed unit price of the approved products and scope of services rendered.

The agreement is effective March 10, 2015, and ends on Nov 30, 2019, and is expected to contribute positively towards the earnings and net asset per share of Pharmaniaga for the financial year ending Dec 31, 2015, and throughout the contract period.

Bursa Malaysia has slapped an unusual market activity (UMA) query on ICT firm, Privasia Technology Bhd, for the recent rise in its share price and volume.

Privasia (fundamental: 1.8; valuation: 1.8) closed at 28.5 sen today, up 2.5 sen or 9.62%, with 84.4 million shares having changed hands. It was one of the most actively-traded counters of the day.

Privasia shares have risen to current levels, from about 16 sen at the end of last month (February). Its share trade dynamics surfaced, after the company reported better financials.

Net profit rose to RM6.95 million for the financial year ended Dec 31, 2014, from RM5.36 million a year earlier. Revenue climbed to RM73.72 million, from RM58.46 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)