Capital A, Serba Dinamik, IJM Corp, MGB, BAssets, Comintel, Perdana Petroleum, Cepatwawasan, C&C Bintang, Ageson, Bintai Kinden, IOI Corp, MAHB and BAT Malaysia

KUALA LUMPUR (July 25): Here is a brief look at some corporate announcements and news flow on Monday (July 25), which include Capital A Bhd, Serba Dinamik Holdings Bhd, IJM Corp Bhd, MGB Bhd, Berjaya Assets Bhd, Comintel Corp Bhd, Perdana Petroleum Bhd, Cepatwawasan Group Bhd, Cycle & Carriage Bintang Bhd, Ageson Bhd, Bintai Kinden Corp Bhd, IOI Corp Bhd, Malaysia Airports Holdings Bhd and British American Tobacco (Malaysia) Bhd.

Capital A Bhd carried 5.56 million passengers in the second quarter of 2022, 48% more than its previous quarter, supported by growing domestic demand and the resumption of international travel in Southeast Asia as Malaysia and its neighbouring countries in the region reopened their international borders. On a year-on-year basis, passengers carried by the group’s operations in Malaysia, Indonesia and the Philippines jumped over seven times from 758,746 passengers a year ago.

Serba Dinamik Holdings Bhd said its creditors have approved the scheme of arrangement proposed by the group and its four subsidiaries, with between 83% and 100% creditors voting in support of it. It is understood that under the scheme of arrangement, creditors will get 15% of what is owed by Serba Dinamik, Serba Dinamik Group Bhd, Serba Dinamik Sdn Bhd, with the balance to be worked out in another scheme of arrangement possibly by the end of the year.

IJM Corp Bhd clarified that it has no intention to dispose of its portfolio of highway concession assets to private, not-for-profit entity Amanat Lebuhraya Rakyat. Nonetheless, IJM said it is in advanced discussions with the government to restructure its toll highway concessions.

MGB Bhd has secured an RM225.03 million contract from Akitek Akiprima Sdn Bhd (AASB) for a housing development project in Bandar Putra Permai, Petaling, Selangor. With this latest contract, MGB said its outstanding order book now stands at RM2.08 billion.

Berjaya Assets Bhd (BAssets) has inked an option agreement with Extreme Broadband Sdn Bhd (EBSB) for the latter to acquire 72 units in Menara MSC Cyberport, Johor Bahru for RM69.61 million. The option is part of a rent-cum-option to purchase agreement signed between the two parties, which also entails BAssets leasing out of 42 units to EBSB for RM250,000 per month. Meanwhile, the remaining 30 out of the 72 units are already leased out.

Comintel Corp Bhd has secured an RM52.825 million contract for the construction, piling and completion of basement works for a mixed development project in Damansara Perdana, Mukim Sungai Buloh, Selangor. The job, to begin on Aug 1 and to be completed within nine months, is expected to provide the company with an additional income stream over the next two financial years.

Perdana Petroleum Bhd has bagged a vessel chartering contract worth about RM2.61 million for the provision of a unit of accommodation work barge (AWB) for an offshore project. It noted that the contract with Two Offshore Marine Sdn Bhd commenced on July 4 this year and is for a duration of up to 39 days, with an option to extend up to 30 days.

Cepatwawasan Group Bhd’s net profit for the second quarter ended June 30, 2022 rose 66.91% to RM15.81 million from RM9.47 million in the same period a year ago due to a substantial increase in average fresh fruit bunch (FFB) selling price which outweighed the impact of a decrease in its plantation segment’s FFB production.

Cycle & Carriage Bintang Bhd (C&C) returned to the black in the second quarter ended June 30, 2022 with a net profit of RM6.48 million versus a net loss of RM1.8 million a year ago, as it recorded higher sales following demand for consumer vehicles being boosted by the sales tax exemption given under the PENJANA economic package.

Ageson Bhd, whose share price surged 67% in the last two weeks, told Bursa Malaysia that it is not aware of any corporate development relating to the group’s business and affairs that would have caused the sharp rise in price and volume of the company’s shares recently.

Bintai Kinden Corp Bhd has inked a Memorandum of Understanding (MOU) with Medical Renewable Care Company under the trade name Nouveta to explore collaboration providing mechanical and engineering solutions and services to the healthcare industry of Saudi Arabia.

IOI Corp Bhd has obtained a green trade finance facility from United Overseas Bank (Malaysia) Bhd that will help the group to promote sustainable palm oil and strengthen the global sustainable palm oil supply chain. The facility will be channelled towards IOI’s sourcing of certified palm oil to support its downstream resource-based manufacturing business as well as its business partners’ activities.

Malaysia Airports Holdings Bhd (MAHB) has appointed the interim chairman of Malaysian Communications and Multimedia Commission (MCMC) Tan Sri Mohamad Salim Fateh Din as its independent and non-executive director, together with former Deloitte Southeast Asia’s director Cheryl Khor Hui Peng.

British American Tobacco (Malaysia) Bhd (BAT Malaysia) has said the Ministry of Health’s (MOH) proposed generational smoking ban is a prohibitive way to reduce the health impact of smoking in the country and will only fuel the illicit tobacco market which already accounts for almost 60% of tobacco sold in Malaysia.