The Ministry of Health (MOH) will continue its concession agreement with Practice Note 17’s (PN17) Pharmaniaga Bhd for the provision of medicines and medical supplies to MOH facilities. Health Minister Dr Zaliha Mustafa said that Pharmaniaga has been in a long term concession agreement with the MOH, hence, the ministry will continue the agreement with the pharmaceutical company. (TheEdge)

Malayan Flour Mills Bhd (MFM), a staple foods producer, is prepared for uncertainties this year that will likely have a major influence on commodity prices and supply chains. Malayan Flour chairman Datuk Oh Chong Peng said the global economic outlook in 2023 was uncertain, owing to rising interest rates, persistent inflationary pressure and geopolitical threats in several parts of the world. (NST)

Main market-listed Pertama Digital Bhd (PDB) signed a memorandum of understanding (MoU) with Kridentia Tech Sdn Bhd (KTSB) for a joint collaboration on digital information technology (IT) solutions. The collaboration is to explore projects for the benefit of utilising digital identification (ID) solutions and to design, develop and enhance other digital products and services for the benefit of Malaysians which includes joint participation in government projects. (NST)

UMW Group’s automotive sales increased by 17.2 per cent in March this year with the delivery of 41,315 units compared with 35,246 units in March 2022. The group said both UMW Toyota Motor (UMWT) and UMW’s associate company Perodua have continued to fulfil its encouraging outstanding bookings. It said UMWT registered 9,136 units in March 2023, 7.6 per cent higher than the 8,487 units delivered in March 2022. (TheStar)

Lembaga Tabung Angkatan Tentera (LTAT) is nearing the completion of its privatisation of Boustead Holdings Bhd following its purchase of over 75% of Boustead shares on the open market and an independent adviser's recommendation for minority shareholders to accept the offer. In a statement to Bursa Malaysia on Monday (April 17), Boustead said that based on the record of depositors as at April 13, the shareholding of LTAT in Boustead stood at 75.05% of the total issued shares. (TheEdge)

Techbond Group Bhd is set to experience new growth opportunities following the recent acquisition of Malaysian Adhesives and Chemicals (MAC) from PPB Group Bhd. Kenanga Research in a report yesterday said MAC’s adhesive products are used further upstream, catering to the production of chipboard, particle board and paper carton packaging. To expand MAC’s market share in the area, adhesive manufacturer Techbond plans to leverage its current client network and market knowledge. (TheStar)

Homeritz Corp Bhd’s growth outlook is expected to remain soft due to the elevated interest rates and a potential economic slowdown in the North America (NA) and European Union (EU) regions. Hong Leong Investment Bank (HLIB) Research said the home furniture manufacturer’s core profit after tax and minority interest (Patami) for the second quarter of financial year 2023 (2Q23) of RM5.3mil, declined by 45.4% year-on-year (y-o-y), bringing the sum for the first half of FY23 to RM11.3mil, down by 34.1% y-o-y. (TheStar)

CTOS Digital Bhd is expected to continue reaping benefits from growing demand for data and analytics which are expedited by the increasing digitalisation of business operations. Kenanga Research said CTOS' main key accounts sectors included financial institutions, telecommunication service providers and possibly insurers which were increasing digitalisation of their operations at almost all fronts. (NST)

James Teo Bok Yu, the son of SHH Resources Holdings Bhd founder and managing director Datuk Teo Wee Cheng, has resigned as the group’s chief executive officer (CEO). He resigned “to pursue other interests”, according to the group’s bourse filing on Monday (April 17). Wee Cheng and his wife Datin Teo Chan Huat, who is also the deputy managing director, are major shareholders in the group with a combined stake of 17.28%. (TheEdge)

Ongoing expansion plans, strong bargaining power and a well-diversified business model are expected to drive Tasco Bhd’s earnings growth in the quarters ahead, says RHB Research. The research house said the logistics solutions provider’s Shah Alam Logistics Centre (SALC) in Selangor is projected to continue to book record earnings again in the financial year 2023 (FY23) by delivering an estimated bottom line of RM20mil to RM25mil in the fourth quarter of FY23 (4Q23). (TheStar)

Analysts are generally neutral on Sime Darby Plantation Bhd’s (SDP) proposed full disposal of two of its Indonesian indirect subsidiaries, given limited information on the deal and also because the disposal makes up less than 2% of the group’s total planted area. The group announced last week that it was liquidating 100% of its stake in PT Ladangrumpun Suburabadi (LSI) and PT Sajang Heulang (SHE), held via subsidiaries PT Anugerah Sumbermakmur (ASM) and PT Minamas Gemilang in a deal worth RM518mil. (TheStar)

Source: New Straits Times, The Edge Markets, The Star 18 Apr 2023

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