Cape EMS Bhd expects its initial public offering to raise up to RM155.7 million through a public issue of 173.0 million new shares at 90 sen each. Cape EMS launched its initial public offering (IPO) today pursuant to its listing on Bursa Malaysia's Main Market. The company said 40.3 per cent of the proceeds would be used for the setting-up of a new cleanroom facility and acquisition of new automated production lines for its EMS operations. (NST)

Petronas Gas Bhd's (PetGas) net profit dropped 17.3 per cent to RM1.65 billion for the financial year ended December 31, 2022 (FY22) versus RM1.99 billion in the previous year. This was due to lower contribution from all segments following higher operating expenses, mainly relating to fuel gas and internal gas consumption expenses, PetGas said. (NST)

AME Elite Consortium Bhd will build a RM108 million new manufacturing facility in i-Park@Senai Airport City, Johor for Bucher Emhart Glass. The latter is a subsidiary of Swiss-listed engineering and manufacturing group Bucher Industries AG. Bucher Emhart  is established as the world's leading international supplier of glass container manufacturing solutions; including equipment, controls, parts and support. (NST)

Hibiscus Petroleum Bhd's net profit surged to RM70.47 million in the second quarter (2Q) ended Dec 31, 2022, from RM48.49 million year-on-year. Revenue for the quarter soared to RM713.13 million against RM284.40 million previously, mainly contributed by its North Sabah operations which were largely driven by the high average realised oil price and relatively low average operation expenditure (opex) per barrel. (NST)

Farm Fresh Bhd, a distributor of dairy goods, is spending RM83.9 million to buy ice cream chain The Inside Scoop Sdn Bhd as part of its development into the food and beverage (F&B) industry. Farm Fresh head of strategy and business development Eddie Lim said there would be a further brand collaboration between Jom Cha by Farm Fresh and Inside Scoop. (NST)

Infoline Tec Group Bhd posted a net profit of RM3.56 million for its fourth quarter (Q4) ended December 31, 2022, on the back of healthy business growth across segments. Revenue for the quarter came in at RM28.37 million. There were no comparative figures for the corresponding preceding quarter's results as this was the fourth interim financial report being announced by the company in compliance with the listing requirements of Bursa Securities. (NST)

Tenaga Nasional Bhd's (TNB) wholly-owned subsidiary TNB Renewables Sdn Bhd (TRe) is seriously evaluating other means for solar generation such as agrisolar and floating solar panels. Managing director Mohd Yusrizal Mohd Yusof said TNB's in-house solution provider, TNB Research Sdn Bhd had conducted several assessments of water surfaces to identify suitable areas for floating solar panels. (NST)

UMW Group delivered 28,235 vehicles in January, 13 per cent higher than the 24,972 units registered in the same month last year. The company said this was due to UMW Toyota Motor (UMT) and UMW's associate company, Perusahaan Otomobil Kedua Sdn Bhd (Perodua), which were able to fulfil their encouraging outstanding bookings. UMWT started 2023 with the delivery of 6,786 units in January. (NST)

Hong Leong Investment Bank Bhd (HLIB Research) expects MISC Bhd's performance in the financial year 2023 (FY23) to be slightly weaker due to normalisation in petroleum tanker rates from production curbs from the members of OPEC+. The bank-backed research firm said this would keep the oil supply tight throughout the year. It added that MISC's net profit of RM899 million and FY22 revenue of RM2.08 billion is above expectations at 121 per cent of the firm's and 113 per cent of consensus' full-year forecasts. (NST)

CGS-CIMB Research positively views Infomina Bhd's new contract with Maybank Indonesia, as it is the company's first contract in Indonesia. The firm believes this is a testament to Infomina's ability in the mainframe and information and technology (IT) transformation space and a strong demonstration of the close working ties of Infomina and Broadcom, especially in its partner regions. (NST)

Source: New Straits Times 16 Feb 2023

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