Nur Global Consultancy & Services

PROGRAM KHAT TO HEART
Assalamualaikum w.b.t.,
Sukacitanya kami akan mengadakan PROGRAM KHAT TO HEART. Butiran adalah seperti berikut:

🗓️Tarikh: 13 Februari 2025 (Khamis)

⏰Masa: 8.30 pagi - 1.00 petang

📍Lokasi: No.100, Jalan K1, Taman Melawati, 53100 KL
https://maps.app.goo.gl/3iHeEFLXf6paRYQo9

Jom sertai kami mengisi masa lapang anak-anak semasa cuti sekolah dengan mempelajari seni khat asas!

Tambahan yuran sebanyak RM50 seorang bagi yang berminat untuk menyertai pelbagai aktiviti menarik seperti art & crafts, Islamic story telling & sebagainya dari 2.00 petang - 5.00 petang.
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Terima kasih.

Pendaftaran Khat to Heart PROGRAM KHAT TO HEART Assalamualaikum w.b.t., Sukacitanya kami akan mengadakan PROGRAM KHAT TO HEART. Butiran adalah seperti berikut: 🗓️Tarikh: 13 Februari 2025 (Khamis) ⏰Masa: 8.30 pagi - 1.00 petang 📍Lokasi: No.100, Jalan K1, Taman Melawati, 53100 KL https://maps.app.goo.gl/3iHeEFLXf6paR...

*20 Oct - Companies In The News*

Permodalan Nasional Bhd (PNB) has said it plans to vote against *Hong Leong Bank Bhd’s* proposal to issue shares, citing insufficient disclosure on the matter as the reason. It said there is insufficient disclosure on the purpose and utilisation of proceeds from the proposed share issuance. PNB, however, plans to vote in favour of the remaining eight proposals at the bank’s annual general meeting scheduled for Oct 27.

The Macau Special Administrative Region is said to have unconditionally accepted *Genting Malaysia Bhd’s* indirect subsidiary GMM SA’s bid for the award of a new 10-year gaming concession involving casino operations there, GGRAsia reported.

*Caely Holdings Bhd* said it has filed a suit against its founder and former executive director Datin Fong Nyok Yoon, her husband and former managing director Datuk Chuah Chin Lai, and 10 of its ex-directors over the alleged misappropriation of RM30.55 million of its unit’s funds.

*Axis Real Estate Investment Trust’s (Axis REIT)* net property income for the third quarter ended Sept 30, 2022, climbed 12.54% to RM61.49 million, from RM54.64 million a year earlier, on the back of rental income from newly-acquired properties. A third interim income distribution of 2.45 sen per unit will be paid on Nov 30.

High building material costs and labour shortages caused *Vizione Holdings Bhd* to post a wider net loss in its third financial quarter ended Aug 31, 2022. The net loss increased to RM7.915 million, from RM5.15 million in 3QFY21.

*Reneuco Bhd* (formerly known as KPower Bhd), through its subsidiary Reneuco RE Sdn Bhd, has entered into a conditional share sale agreement with OHP Ventures Sdn Bhd to acquire Adat Sanjung Sdn Bhd (ASSB) for RM90 million in a cash-plus-shares deal. ASSB, through its wholly-owned unit Pristine Falcon Sdn Bhd, controls a 70% stake in a special purpose vehicle established to undertake the development of hydropower plants in Sabah.

*MN Holdings Bhd* has clinched a substation engineering contract worth RM22.5 million in Nusajaya Technology Park, Johor. The group said its wholly-owned unit MN Power Transmission Sdn Bhd was awarded the contract by GDS IDC Services (M) Sdn Bhd, to design and install two interim consumer landing stations for GDS’ data centre.

Technology services provider *Heitech Padu Bhd* has secured two contract extensions from the Road Transport Department (JPJ), amounting to an additional contract value of RM23.72 million. The contracts have been extended by four months, from Oct 1 to Jan 31 next year.

https://www.theedgemarkets.com/article/hong-leong-bank-genting-malaysia-caely-axis-reit-vizione-reneuco-mn-holdings-and-heitech

*14 Oct - Companies In The News*

*Gamuda Bhd* said it received a total of RM2.35 billion from the equity disposals in Sprint, Litrak and Kesas and RM316 million for the disposal of its 50%-equity in Smart. *Kumpulan Perangsang Selangor Bhd,* which held the other 20% in Sprint, said it received RM183.4 million for the disposal. Gamuda’s 50%-owned *Lingkaran Trans Kota Holdings Bhd (Litrak),* which owns a 100% interest in Lingkaran Trans Kota Sdn Bhd and a 50% interest in Sprint, said it received RM2.28 billion and RM459 million respectively for the disposals of its entire equity in the two concessionaires.

*Oriental Holdings Bhd (OHB)* is planning to acquire the remaining shares in three plantation companies, namely Selasih Permata Sdn Bhd (SPSB); Oriental Boon Siew (Mauritius) Pte Ltd, or OBS (M); and Southern Perak Plantations Sdn Bhd (SPP), for a total of RM802.26 million.

*Nestcon Bhd’s* subsidiary has secured a RM129.6 million contract for site clearance, earthworks and ancillary works in Mukah, Sarawak. Its wholly-owned unit, Nestcon Infra Sdn Bhd, which is principally involved in construction works, has been appointed as the contractor. It received a letter of award for the project on Thursday (Oct 13) from Sino Natural Resources Malaysia Sdn Bhd.

*Atlan Holdings Bhd* returned to the black in the second quarter ended Aug 31, 2022 with a net profit of RM2.61 million, compared to a net loss of RM9.26 million in the same quarter last year, thanks to improved revenue contributions from the group’s duty free and automotive segments. Quarterly revenue swelled over four times to RM87.76 million, from RM19.34 million in the same period a year ago.

ACE Market-listed *Binasat Communications Bhd* has proposed a bonus issue of free warrants on the basis of one warrant for every two shares held by the entitled shareholders.

Hextar Group chief executive officer Datuk Eddie Ong Choo Meng has raised his stake in fibre optic cable manufacturer *Opcom Holdings Bhd* to 20.69%, from 17.78% previously.

*Golden Land Bhd* has redesignated Tan Sri Hashim Meon as its independent and non-executive chairman, effective Thursday.

An offshore company, Radio Port Ltd, has emerged as a new substantial shareholder of *Cuscapi Bhd* after acquiring four million shares, raising its direct interest to 47.74 million shares, or a 5.05% stake. The British Virgin Islands-incorporated company acquired the shares on June 15.

https://www.theedgemarkets.com/article/gamuda-kumpulan-perangsang-selangor-litrak-oriental-holdings-nestcon-atlan-binasat-opcom

*15 Sep - Companies In The News*

*Genting Bhd's* 50% indirectly owned associate Resorts World Inc Pte Ltd is buying the entire stake in cruise trademarks owner Star Market Holdings Ltd for US$3.5 million (RM15.84 million) from Genting Hong Kong Ltd's 100%-owned subsidiary Star Cruises Asia Holding Ltd in a planned transaction that aims to, among others, consolidate the ownership of such trademarks and intellectual property rights under a single entity.

*Eco World International Bhd (EWI)* reported a net loss of RM56.68 million for the third quarter ended July 31, 2022 (3QFY22), compared with a net profit of RM2.49 million a year ago, amid lower profit contributions from projects in Australia. Also contributing to the poor performance were losses from joint ventures due to revision of profit margins on EW London's build-to-rent projects as a result of an extended construction programme.

*Ranhill Utilities Bhd's* indirect 49%-owned unit Perunding Ranhill Worley Sdn Bhd has secured a RM43 million contract from PTTEP HK Offshore Ltd, a wholly owned subsidiary of Thailand's PTT Exploration and Production PCL, to provide front-end engineering and design services for offshore facilities of the SK10B Lang Lebah development project offshore Sarawak.

*Rubberex Corp (M) Bhd's* shareholders have green-lighted the glove manufacturer's proposal to acquire a 100% equity interest in test kit manufacturer Reszon Diagnostics International Sdn Bhd for RM180 million. Shareholders have also unanimously approved the company's proposed diversification into the healthcare business and name change to Hextar Healthcare Bhd.

*UMW Holdings Bhd's* automotive sales jumped by 41% month-on-month in August 2022, driven by both UMW Toyota Motor Sdn Bhd and UMW's associate company, Perusahaan Otomobil Kedua Sdn Bhd (Perodua). The automotive group said it delivered 35,130 units in August, compared with 24,983 units registered in July.

*Nexgram Holdings Bhd* is planning to consolidate every 10 shares in the ACE Market-listed telecommunications and media firm into one new share.

*Maxis Bhd* is working closely with its 5G Alliance partners on initiatives to create and commercialise 5G use cases and Internet of Things solutions across industries in Malaysia and Asia-Pacific.

*KIP Real Estate Investment Trust (REIT)* said the increase in costs due to inflationary pressures has had a negative impact on mall tenants' profit margins.

*Cosmos Technology International Bhd,* which is scheduled to be listed on Bursa Malaysia's ACE Market on Oct 6 at 35 sen a share, said it plans to raise about RM22.44 million from its initial public offering, which involves a public issue of 64.13 million new shares.

*Pos Malaysia Bhd* has inked a memorandum of understanding with online marketplace Ejazmine Sdn Bhd to explore collaboration in logistics and courier services.

https://www.theedgemarkets.com/article/genting-eco-world-international-ranhill-utilities-rubberex-umw-nexgram-maxis-kip-reit-cosmos

*8 Sep - Companies In The News*

*Kejuruteraan Asastera Bhd* has proposed to diversify into the sustainable energy solutions segment and is planning to raise RM119 million from a private placement partly to fund the diversification. It said the move is part of the group’s strategy to diversify its business and create an additional source of income on top of the existing contribution from its core mechanical and electrical engineering business.

The Energy Commission has extended *Tenaga Nasional Bhd’s (TNB)* existing power purchase agreement for the Sungai Perak hydroelectric power plants by five years from Sept 1, 2022, until Aug 24, 2027. The utility giant’s wholly owned subsidiary TNB Power Generation Sdn Bhd had received an extension letter from the Energy Commission.

Furniture maker-cum-builder *TAFI Industries Bhd’s* wholly owned subsidiary TAFI Home & Office Sdn Bhd has accepted a RM115 million turnkey construction contract from Magna Prima Bhd’s indirect wholly owned unit Magna Park Sdn Bhd to build serviced apartments in Kepong, Kuala Lumpur over four years.

*T7 Global Bhd’s* unit Tanjung Offshore Services Sdn Bhd has received a Letter of Award from Petronas Carigali Sdn Bhd to provide platform-based underwater inspection services by utilising mini remotely operated vehicles for over 30 offshore structures such as jackets and pipelines in Malaysia.

Construction player *Haily Group Bhd’s* wholly owned subsidiary Haily Construction Sdn Bhd has won a second contract worth RM17.5 million from Mah Sing Group Bhd’s unit Meridin East Sdn Bhd to build 108 double-storey terrace homes in the latter’s largest integrated township in the Eastern Gateway of Iskandar Malaysia, Johor.

Following the outcome of *Jade Marvel Group Bhd’s* 20th annual general meeting and extraordinary general meeting (EGM), the group has announced the retirement of its deputy chairman Chong Wei Liang, as well as its joint managing director Datuk Khoo Yik Chou. It also announced the appointment of Seah Yee Teng as an independent and non-executive director, as well as Datuk Seri Chong Wei Chuan as an executive director.

*Iskandar Waterfront City Bhd* has appointed Messrs Crowe Malaysia PLT as its new external auditor, after its previous external auditor Messrs Ernst & Young PLT resigned on Tuesday.

*Trive Property Group Bhd* announced that it has cut off talks with Syarikat Perumahan Negara Bhd (SPNB) in relation to being a turnkey contractor for an affordable housing project amounting to RM1.1 billion in gross development value.

https://www.theedgemarkets.com/article/kab-tnb-tafi-t7-global-haily-jade-marvel-iskandar-waterfront-and-trive-property

*6 Sep - Companies In The News*

Bank Negara Malaysia has accepted *Sapura Energy Bhd’s* application for assistance to mediate debt restructuring with its multicurrency facilities (MCF) financiers.

The Malaysian Competition Commission (MyCC) has granted *Leong Hup International Bhd’s* wholly-owned subsidiary Leong Hup Feedmill Malaysia Sdn Bhd (LFM) a one-month extension ― to Oct 21 from an initial deadline of Sept 20 ― to submit its written representation in response to MyCC’s poultry feed price-fixing proposed decision.

*KPJ Healthcare Bhd* president and managing director Datuk Mohd Shukrie Mohd Salleh is stepping down from the positions effective Wednesday (Sept 7) to pursue other opportunities, just five months after assuming the role on April 1.

*Majuperak Holdings Bhd* group CEO cm executive officer Nizran Noordin has been told to go on garden leave starting Sept 2, about two months ahead of the expiry of his service contract on Oct 31.

*Microlink Solutions Bhd* has appointed Ramlee Abdullah as its new group CEO to replace Chia Yong Wei, who is stepping down from the role after six years at the helm.

*Kelington Group Bhd’s* wholly-owned subsidiary Kelington Technologies Sdn Bhd has won an ultra high purity contract worth about RM330 million from “a world leader in semiconductor solutions” to undertake the bulk and speciality gas system distribution works for the customer’s expansion of its current manufacturing facility in Kulim, Kedah.

*Inta Bina Group Bhd’s* wholly-owned subsidiary Inta Bina Sdn Bhd has accepted a letter of award worth RM146 million from Eco Ardence Sdn Bhd to design and build main building works in relation to a mixed-use development project located in Shah Alam, Selangor.

*JAG Bhd’s* wholly-owned subsidiary JAG Land Sdn Bhd has entered into a sales and purchase agreement with Menara ABS Bhd to acquire a 12-and-a-half-storey building in Taman Desa, Kuala Lumpur for RM35.29 million.

*Capital A Bhd* is progressing with plans for the listing of AirAsia Aviation Group Ltd and airasia Super App in New York, according to its CEO Tony Fernandes, who said the company would probably make the announcement next year.

The Road Transport Department’s (JPJ) National Committee for Vehicle Type Approval (VTA) and Homologation granted the VTA for *EP Manufacturing Bhd’s* first-ever two-wheel electric vehicle, the Blueshark SG3000DT (Blueshark R1) model, about a month after it received conditional approval for the construction of its maiden manufacturing plant for the two-wheeler.

*Solutions Group Bhd* said that the inhalable version of CanSino Biologics Inc’s Recombinant Covid-19 Vaccine (Adenovirus Type 5 Vector) ― Convidecia Air ― has received clinical trial approval from the Medical Research and Ethics Committee under the Ministry of Health, marking the first trial study of the inhaled version of Covid-19 vaccine in Malaysia.

*Pekat Group Bhd’s* wholly-owned subsidiary Solaroo RE Sdn Bhd has obtained a moneylender licence issued under the Moneylenders Act 1951 and the Moneylenders (Control and Licensing) Regulations 2003 from the Ministry of Housing and Local Government.

*South Malaysia Industries Bhd (SMI)* has been slapped with an unusual market activity query by Bursa Malaysia Securities Bhd, after a sharp fall in its share price.

*Destini Bhd* has denied that it has been classified as a Practice Note 17 company and that it was set to be de-listed on Monday.

*Public Bank Bhd* and Sunway Integrated Properties Sdn Bhd have signed a memorandum of understanding to collaborate on sustainable development projects ― which enable customers who purchase green-certified properties developed by Sunway Property to be entitled to Public Bank’s Special Sustainable Financing Package.

*KPower Bhd* has changed its name to *Reneuco Bhd* and notes that the company’s securities will be traded and quoted under the new stock short name of RENEUCO, with effect from Tuesday (Sept 6).

https://www.theedgemarkets.com/article/sapura-energy-leong-hup-kpj-healthcare-majuperak-microlink-kelington-inta-bina-jag-capital

*5 Sep - Companies In The News*

*Boustead Heavy Industries Bhd (BHIC),* which is embroiled in the RM9 billion littoral combat ship (LCS) project fiasco, announced that the letter of awards to two main contractors in relation to the six vessels for the Royal Malaysian Navy (LCS Programme) have been voided. BHIC said the two contractors — Contraves Advanced Devices Sdn Bhd (CAD) and Contraves Electrodynamics Sdn Bhd (CED) — had received a notice dated Aug 23, 2022, stating that the letters issued by its unit Boustead Naval Shipyard Sdn Bhd (BNS) to these companies under the programme were void.

BNS had appointed the companies as the main contractors for the project. BHIC held the majority 51% stake in both companies, while Germany’s Rheinmetall Group held the remaining 49%. Meanwhile, BNS is 20.77%-controlled by BHIC, 68.85% by *Boustead Holdings Bhd,* with armed forces fund Lembaga Tabung Angkatan Tentera (LTAT) holding 10.38%. Boustead Holdings, meanwhile, controls 65% of BHIC.

*Wah Seong Corp Bhd's* attempt to dispose of idle Singapore real estate for S$13 million (RM40.1 million) lapsed as the buyer, Swee Joo (Pte) Ltd — wholly owned by Singaport Cleanseas Pte Ltd — was not able to get approval from the relevant authorities in the island nation. The real estate consists of 13,734 sq m leasehold land with industrial workshop, warehouse and office built on it.

*Perak Corp Bhd* has been granted a further extension of time up to Feb 10, 2023 to submit its regularisation plan to the regulatory authorities. Previously, the Practice Note 17 (PN17) company was granted an extension of time to submit the regularisation plan to Aug 10. It slipped into the PN17 status in February 2020, as a result of a default in payment and its inability to declare solvency.

MCA, a component party of Barisan Nasional, has emerged as a substantial shareholder of car leather upholstery maker *Pecca Group Bhd* with a 5.7% stake. The party, through Huaren Holdings Sdn Bhd, bought 3.68 million shares on Tuesday (Aug 30) and 4.37 million shares on Thursday (Sept 1), raising its total interest to 42.73 million shares.

*Scientex Bhd* is partnering with Japan-based producer of liquid and paste packaging systems, Taisei Lamick Co Ltd, to expand its market share in the region. Scientex said its unit Scientex Packaging Film Sdn Bhd has entered into a share sale agreement with Taisei Lamick to acquire 8,100 ordinary shares representing 80.2% equity interest in Taisei Lamick’s subsidiary, Taisei Lamick Malaysia Sdn Bhd (TLM) for RM63.8 million cash consideration.

*Al-'Aqar Healthcare REIT* has acquired three hospitals from *KPJ Healthcare Bhd* for RM192 million, to be paid in cash and new shares. The acquisition is deemed to be a related-party transaction, as both entities have a common major shareholder in Johor Corp. Al-'Aqar Healthcare REIT is buying TMC Healthcare Centre Building in Taiping, Perak for RM14.30 million in cash, and KPJ Seremban Specialist Hospital Building for RM84.7 million in cash. The real estate investment trust (REIT) is also buying Pasir Gudang Specialist Hospital in Johor for RM93 million.

https://www.theedgemarkets.com/article/bhic-boustead-holdings-wah-seong-perak-corp-pecca-scientex-alaqar-healthcare-reit-and-kpj

*1 Sep - Companies In The News*

*Tenaga Nasional Bhd's (TNB)* revenue soared to a record high of RM19.14 billion for the second quarter ended June 30, 2022 (2QFY22) — up 53.86% from RM12.44 billion a year ago — of which RM6.3 billion was the group's under-recovery of Imbalance Cost Pass-Through (ICPT) position, as opposed to RM314.6 million previously. TNB made a net profit of RM872.5 million up 6.17% from 2QFY21's RM821.5 million, mainly due to higher operating profit, which grew 24.06% to RM2.63 billion from RM2.12 billion amid lower net loss on financial instruments.

*FGV Holdings Bhd* has declared dividend of four sen after posting a 10.39% increase in its net profit in 2QFY22 to RM374.02 million from RM338.82 million a year prior, largely due to higher palm products' margins as a result of firmer crude palm oil prices. Quarterly revenue jumped 58.64% to RM7.43 billion from RM4.68 billion.

*CIMB Group Holdings Bhd's* net profit rose 18.13% to RM1.28 billion in 2QFY22 from RM1.08 billion a year ago, driven by higher operating income, contained cost escalation as well as lower provisions across key markets. Quarterly revenue increased 5.68% to RM4.88 billion from RM4.62 billion previously.

*Bank Islam Malaysia Bhd's* net profit for 2QFY22 fell 39.71% to RM117.16 million from RM194.33 million in the same period last year as it reported lower net income and higher overheads. Group revenue dipped to RM823.02 million from RM834.34 million.

*Leong Hup International Bhd’s* 2QFY22 net profit rose 32.77% to RM40.5 million from RM30.5 million in the same period last year, on improved contribution from its livestock and poultry related products segment. Quarterly revenue grew 22.57% to RM2.27 billion — its highest to date — from RM1.85 billion a year earlier as revenue from sales of livestock and poultry related products rose 28% to RM1.27 billion from RM992.5 million.

*Hengyuan Refining Co Bhd* posted an all-time high net profit of RM667.49 million in 2QFY22 compared to a net loss of RM59.38 million a year ago. The crude oil refiner attributed the remarkable achievement to its improved refining margin, contributed by better cracks for motor gasoline, gasoil and jet fuel, as well as stockholding gains fuelled by market sentiments over the oil supply and demand imbalance.

*Hong Leong Bank Bhd's* net profit grew 32% to RM907.64 million for the fourth quarter ended June 30, 2022 from RM689.48 million a year ago, driven mainly by higher net income, lower provisions coupled with some writebacks of previously impaired losses from financial investments and other assets.

*Berjaya Corp Bhd (BCorp)* reported a net profit of RM48.63 million for 4QFY22 versus a net loss of RM242.57 million a year earlier, in tandem with higher revenues reported by all its business segments.

Financially-troubled oil and gas services provider *Serba Dinamik Holdings Bhd* continued to bleed in its 4QFY22 with a net loss of RM327.76 million or loss per share of 8.84 sen on the back of RM170.25 million in revenue.

*Icon Offshore Bhd* is set to offload a jack-up rig to Saudi Arabia-based ADES Arabia Holding for RM381.65 million, which is more than double the price paid by the company for it 22 months ago.

*Affin Bank Bhd* has completed its partial disposals of equity interests in its joint ventures AXA Affin Life Insurance (AALI) and AXA Affin General Insurance (AAGI) to Generali Asia NV.

*Citaglobal Bhd* (formerly known as WZ Satu Bhd) has bagged an engineering, procurement and construction contract to provide design, construction and equipping work in relation to Phase 1 of the Perlis Inland Port with a contract sum of RM373.5 million — 85% higher than Citaglobal's current market value of RM202 million.

A consortium led by *Muhibbah Engineering (M) Bhd* has won a RM240 million contract to undertake a job related to the Integrated Bekok Oil project located offshore Terengganu.

https://www.theedgemarkets.com/article/tnb-fgv-cimb-bank-islam-leong-hup-hengyuan-hong-leong-bank-bcorp-serba-dinamik-icon-offshore

*30 Aug - Companies In The News*

*Public Bank Bhd’s* net profit in the second quarter ended June 30, 2022 (2QFY22) rose 2.35% to RM1.42 billion from RM1.38 billion a year ago on lower loan impairment allowance and higher net interest allowance. The increase was more modest than its 12.66% growth in pre-tax profit to RM2.02 billion from RM1.8 billion for 2QFY21, due to the impact of Cukai Makmur (the one-off prosperity tax).

*RHB Bank Bhd's* net profit fell 9.5% to RM634.83 million in 2QFY22 from RM701.34 million a year ago mainly due to lower non-fund based income and higher operating expenses. Revenue rose 2.1% to RM2.99 billion from RM2.93 billion in 2QFY21.

*KPJ Healthcare Bhd's* net profit for 2QFY22 jumped more than threefold to RM27.09 million from RM6.96 million a year earlier, due to an increase in hospital activities.

*Ta Ann Holdings Bhd* saw its net profit expand 24.12% to RM92.02 million in 2QFY22 compared with RM74.14 million in the same quarter last year, mainly attributed to higher average selling prices achieved for crude palm oil, fresh fruit bunches and plywood products.

*Mah Sing Group Bhd’s* net profit for 2QFY22 rose 6.52% to RM43.04 million from RM40.4 million last year, driven by the group's successful launches of new parcels of affordably priced homes and good take-up of its other ongoing projects.

*TIME dotCom Bhd's* net profit for 2QFY22 rose 27.63% to RM118.28 million from RM92.67 million a year ago, propelled by higher revenue growth from both its data and data centre product segments as well as larger net gain on foreign exchange amounting to RM27.1 million. Time dotCom's 2QFY22 net profit of RM118.28 million is also its highest since 2QFY16, when it posted RM199.8 million.

*Malaysian Pacific Industries Bhd's (MPI)* net profit rose 7.17% to RM80.49 million in its fourth quarter ended June 30, 2022 (4QFY22) from RM75.1 million in the same period last year, helped by double-digit contributions from all of its geographical segments. Quarterly revenue climbed 13.9% to a new record high of RM612.04 million from RM537.34 million, as the Asia segment grew 12%, the US segment grew 23%, and the Europe segment grew 15%.

*Solarvest Holdings Bhd's* net profit for the first quarter ended June 30, 2022 (1QFY23) soared to RM4.33 million from RM174,000 in the same period last year, as construction activities continued to pick up following the country's transition to the endemic stage of Covid-19. Quarterly revenue jumped 131.47% to RM52.66 million from RM22.75 million.

A mandatory offer was made after *Axiata Group Bhd* and its Indonesian unit XL Axiata completed their purchase of 66% of Indonesian internet services provider Link Net. The offer to buy as many as 934.8 million shares at 4,800 rupiah each is worth as much as 4.49 trillion rupiah (RM1.35 billion).

Mentri Besar Terengganu (Incorporated), a Terengganu state-owned company, is looking into acquiring a 5% stake in PCG PCC Oxyalkylates Sdn Bhd. The company is a joint venture between *Petronas Chemicals Group Bhd* and German firm PCC SE, and is principally involved in the production of chemical feedstocks and specialty chemicals production.

*IHH Healthcare Bhd* said it has been de-risking its lira-denominated revenue exposure as the hospital operator recognises the potential impact of the hyperinflationary environment in Türkiye where inflation has exceeded 100%.

*Sime Darby Property Bhd (SDP)* is to acquire 948.8 acres of land in Kapar, Selangor from *Sime Darby Plantation Bhd* in accordance with one of the nine call option agreements entered into between both parties in the demerger exercise back in 2017. SDP said it has issued a notice to exercise the call option to acquire the Kapar land for RM618 million.

Three shareholders of *Caely Holdings Bhd* with a collective shareholding of over 10% have succeeded in their bid to remove the lingerie manufacturer’s board of directors.

https://www.theedgemarkets.com/article/public-bank-rhb-kpj-healthcare-ta-ann-mah-sing-time-dotcom-mpi-solarvest-axiata-petchem-ihh

*29 Aug - Companies In The News*

*Axiata Group Bhd* posted a net loss of RM106.38 million for the second quarter ended June 30, 2022 (2QFY22), versus RM277.76 million a year ago, due to significant foreign exchange (forex) losses contributed by mobile operations in Sri Lanka. Despite posting a net loss for 2QFY22, Axiata's revenue grew 4.9% year-on-year to RM6.7 billion, from RM6.39 billion a year ago, driven by revenue growth in all geographical segments except Sri Lanka.

*Petronas Gas Bhd’s (PetGas)* 2QFY22 net profit dropped 9.5% to RM396.5 million from RM439.07 million a year earlier, despite a rise in revenue, due to the impact of unfavourable forex movement, and higher effective tax rate from the imposition of the prosperity tax. Revenue rose 8.7% to RM1.5 billion for 2QFY22, from RM1.38 billion in 2QFY21.

*Capital A Bhd* saw its net loss widen to RM931.22 million in 2QFY22, compared with RM580.06 million in 2QFY21, mainly due to share of loss from associates and foreign exchange losses. In contrast, its quarterly revenue soared 277% to RM1.465 billion from RM388.91 million, on the back of the resumption of domestic and international travels.

*Boustead Holdings Bhd* returned to black with a net profit of RM74.4 million for 2QFY22, as compared to a net loss of RM7.3 million a year ago, driven by better contributions from its property and industrial, plantation and trading, as well as finance and investment divisions. Revenue jumped 67.2% to RM4.31 billion from RM2.58 billion in 2QFY21,

*Bumi Armada Bhd's* net profit for 2QFY22 rose 33% to RM186.25 million, from RM139.86 million a year earlier, mainly due to higher revenue and favourable forex movements. Bumi Armada said its revenue for the quarter rose 4.5% to RM618.43 million, from RM591.86 million previously, due mainly to higher progress of completion of the subsea construction contract work in the Caspian Sea in 2QFY22.

*UMW Holdings Bhd* returned to the black in 2QFY22 with a net profit of RM107.2 million, in contrast with the net loss of RM3.6 million posted a year ago. Quarterly revenue jumped 52.6% to RM3.7 billion from RM2.5 billion posted for 2QFY21, on higher sales in all segments, driven by a strong sales momentum following the economic recovery under the National Recovery Plan.

*Greatech Technology Bhd’s* net profit for 2QFY22 dropped 34.4% to RM25.17 million from RM38.38 million a year ago, due to effects of prolonged supply chain constraints and cost escalation. The group’s quarterly revenue also reduced 13.4% to RM118.1 million, down from RM136.36 million in the preceding year’s corresponding quarter.

*Yong Tai Bhd's* net loss swelled to RM135.34 million in the fourth financial quarter ended June 30, 2022 (4QFY22), mainly due to an impairment loss of RM113.1 million. Quarterly revenue, however, soared 47.5% to RM46.24 million from RM31.35 million, mainly due to higher revenue from its property development business, supported by revenue contributions from a completed project, as well as ongoing ones.

Glove manufacturer *Supermax Corp Bhd's* unit Supermax Healthcare Canada has announced a partnership with Minco Wholesale & Supply Inc under an agreement, which will see Minco distributing products of the Canadian manufacturer in North America. This includes rubber gloves and masks, besides non-woven cotton medical products.

Lingerie maker *Caely Holdings Bhd* filed a lawsuit against its former managing director Chuah Chin Lai and his wife Fong Nyok Yoon to recover alleged misappropriated funds amounting to RM30.55 million. Caely, together with its wholly-owned subsidiary Caely (M) Sdn Bhd, also sought exemplary damages from the duo for alleged breach of fiduciary duty during their tenure as directors in both companies.

https://www.theedgemarkets.com/article/axiata-petgas-capital-boustead-bumi-armada-umw-greatech-yong-tai-supermax-and-caely