Salcon, Westports, Maxis, Caely, FGV, S&F Capital, Industronics, Capital A, Ajiya, KLK and SLP Resources

Salcon, Westports, Maxis, Caely, FGV, S&F Capital, Industronics, Capital A, Ajiya, KLK and SLP Resources

KUALA LUMPUR (Nov 4): Here is a brief recap of some corporate announcements that made news on Friday (Nov 4) involving Salcon Bhd, Westports Holdings Bhd, Maxis Bhd, Caely Holdings Bhd, FGV Holdings Bhd, S&F Capital Bhd, Industronics Bhd, Capital A Bhd, Ajiya Bhd, Kuala Lumpur Kepong Bhd and SLP Resources Bhd.

Salcon Bhd has struck a deal with Appraisal Property Management Sdn Bhd (APM) to provide transportation services for the employees of APM to its clients’ sites. In a Bursa Malaysia filing, Salcon said its wholly-owned subsidiary Eco-Coach & Tours (M) Sdn Bhd has signed the agreement with APM, with the job commencing from March 1, 2023 till Dec 31, 2026. APM’s principal activity is to carry out property or facilities management services. According to Salcon, the contract fee for the job is about RM9.08 million per annum (excluding 6% government tax).

Westports Holdings Bhd‘s net profit for the third quarter ended Sept 30, 2022 fell 24% year-on-year (y-o-y) to RM150.39 million from RM199.06 million, mainly due to higher fuel cost and a one-off sundry income in last year’s third quarter. The port operator said revenue for the quarter rose to RM520.54 million from RM504.89 million a year ago, on the back of growth in conventional revenue.

Maxis Bhd‘s net profit for the third quarter ended Sept 30, 2022 (3QFY22) dropped 3.1% to RM315 million from RM325 million a year ago, due to a one-off increase in corporate tax rate to 33% as a result of the prosperity tax. Quarterly revenue grew 5.9% to RM2.41 billion from RM2.27 billion in 3QFY21, driven by a 3.7% higher contribution from its service revenue. The telco declared a third interim dividend of five sen per share.

Caely Holdings Bhd has rejected a requisition claim from five shareholders to convene an extraordinary general meeting (EGM), on the grounds that they do not hold in aggregate at least 10% of the company’s issued share capital. The shareholders — former executive chairman Datin Seri Jessie Wong Siaw Puie, Zhang Jia, Leow Boon Kin, Datuk JP Low Kok Chuan and Cheng Kwee — had in their requisition notice dated Oct 21 requested for the EGM to table 14 resolutions.

FGV Holdings Bhd is recruiting an additional 16,000 migrant workers by the end of 2023, in response to labour shortage issues its plantation business is facing. In a statement, FGV said it expects another 3,000 new workers in November, which will help the crude palm oil producer increase its plantation yields and productivity. The migrant workers will be recruited from India, Indonesia, and Nepal. As of October, FGV had received a total of 4,980 workers from India and Indonesia.

S&F Capital Bhd (previously known as Leweko Resources Bhd) is acquiring 9.44 acres of land near Kulim Hi-Tech Park (KHTP) in Kedah for RM7.4 million. The group said its 55%-owned subsidiary is buying the freehold land in Tempat Naga Lilit from Balkhis Othman and Siti Hawa Othman.

Industronics Bhd has entered into a Memorandum of Understanding (MOU) with Malaysian NGV Bhd (MNGC) to build and operate the Kedah Aerotropolis project worth 3.3 billion euros (or RM15.36 billion). In a filing with Bursa Malaysia on Friday, Industronics said the proposed development will be built on 9,154.98 acres of land belonging to the Kedah State government. The development consists of three key components, namely the Airport City — consisting of cargo terminals, MRO (maintenance, repair and overhaul) centre and Kulim International Airport — as well as a business park and the Sidam Logistics, Aerospace and Manufacturing (SLAM) hub.

Capital A Bhd has engaged independent market researcher, Providence Strategic Partners Sdn Bhd, to assist in developing a proposed Practice Note 17 (PN17) regularisation plan. The parent company of AirAsia Aviation Group said Providence Strategic Partners will help with independent market research and review of potential business plans with regard to the plan’s development. The company will continue to make the necessary announcements on the development of its regularisation plan accordingly. Capital A was classified as a PN17 company — one that is financially distressed — in January this year.

Former Kedah State Assemblyman Datuk Boey Chin Gan has joined Ajiya Bhd‘s board as an independent non-executive director, effective Friday (Nov 4). The appointment of Boey, 57, comes following Datuk Theng Book’s departure from Ajiya’s board to “pursue personal interest”, according to the building material manufacturer and supplier’s filing with Bursa Malaysia.

Kuala Lumpur Kepong Bhd is considering raising its stake in British chemicals company Synthomer Plc as it looks to further expand its specialty chemicals business globally, two sources told Reuters. KLK is talking with at least one financial adviser to explore potentially boosting its 26.3% stake in Synthomer, said the sources with knowledge of the matter. The stake purchase could comprise primary and secondary shares, the sources added, asking not to be identified because the information is private. It is not immediately clear whether it will acquire a controlling stake.

SLP Resources Bhd net profit jumped 60.3% to RM4.94 million in the third quarter ended Sept 30, 2022 (3QFY2022), from RM3.08 million a year ago, on higher revenue and better product mix. The group’s revenue for 3QFY2022 expanded 30.6% to RM47.23 million from RM36.17 million a year before, due to increased sales volume from domestic and overseas markets. It declared a third interim dividend of 1.5 sen per share.