KUALA LUMPUR (May 5): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (May 6) include: Supermax Corp Bhd, Gas Malaysia Bhd, Prestar Resources Bhd, Dagang Nexchange Bhd, Kerjaya Prospek Group Bhd, UEM Sunrise Bhd, Cahya Mata Sarawak Bhd and Dufu Technology Corp Bhd.
Supermax Corp Bhd s net profit for the third quarter ended March 31, 2021 came in at RM1 billion, down 5.2% compared with RM1.06 billion recorded in the preceding quarter, while revenue fell 3% to RM1.94 billion from RM2 billion.
On a year-on-year basis, the group s net profit surged 14 times from RM71.06 million a year ago, while revenue jumped four folds to RM1.94 billion from RM447.25 million. For the cumulative nine months, the group s net profit soared close to 23 times to RM2.85 billion from RM125.97 million a year earlier, while revenue surged four times to RM5.29 billion from RM1.2 billion. Supermax declared a special dividend of 13 sen per share.
YTL Cement completes divestment of China subsidiary 05 May 2021
YTL Cement (Hong Kong), a subsidiary of YTL Corp Bhd, has finalised the disposal of its 100 per cent equity interest in Zhejiang Hangzhou Dama Cement Co Ltd (Dama Cement), according to local press reports.
Dama Cement owns a cement plant in Lin’an district, Zhejiang Province, China. YTL Cement invested in the company in 2007 and has seen aggregate returns of about CNY1.3bn (US$200.8m), said a statement. The price of the disposal was undisclosed.
“This is an ideal time for us to make an exit given the current highly attractive valuation of the business,” said YTL group executive chairman, Tan Sri Francis Yeoh.
to be among the stocks to watch on Wednesday.
T7 Global has secured a RM50mil work order award from Petronas Carigali Sdn Bhd for the provision of plug and abandonment integrated services.
Rohas Tecnic had secured a transmission line fabrication job with an estimated value of RM37mil.
YTL Corp’s 98%-owned subsidiary YTL Cement (Hong Kong) Ltd has finalised the disposal of its 100% equity interest in Zhejiang Hangzhou Dama Cement Co Ltd (Dama Cement).
Can-One has received a notice of unconditional mandatory takeover offer from major shareholder Eller Axis Sdn Bhd to acquire the remaining shares in Can-One not owned by Eller Axis and the ultimate offeror Yeoh Jin Hoe for RM2.50 per share.
Malaysian construction firms with projects in India could take Covid hit 29 Apr 2021 / 22:20 H. A nurse displaying a vial of the AstraZeneca Covid-19 vaccine manufactured by Serum Institute of India, at a medical centre in Mumbai. India is grappling with a surge in Covid-19 infections. – REUTERSPIX
PETALING JAYA: Earnings of Malaysian construction groups IJM Corp Bhd and Sunway Construction Group Bhd (SunCon) could be negatively impacted as Covid-stricken India, where they have a presence, grapples with the high number of infections, said Maybank Investment Bank Research (Maybank IB Research).
“Based on scenario analysis, our FY22 net profit forecast for IJM could be negatively impacted by 7%, and FY21 net profit for SunCon by 9%,” said the research house, while maintaining its forecasts and target prices for now.