Its CEO Tan Eng Kee said RM18 million or 24.64% of the proceeds will be utilised for the establishment of Greatech’s engineering and manufacturing sales offices in the US and China.

“We are going to open offices in the Silicon Valley and in the East Coast for the US, and one in Shanghai, China,” he said at the company’s prospectus launch in Kuala Lumpur yesterday.

The industrial automation solution provider’s initial public offering (IPO) entails 119.75 million new shares, of which 18.78 million will be made available to the Malaysian public and 9.39 million to the eligible director, employees and business associates.

The remaining 22.72 million shares are provisioned for selected investors, while 68.86 million shares to Bumiputera investors were approved by the Ministry of International Trade and Industry.

Master-Pack Group Bhd's share price rose as much as 48 sen or 23.88% to RM2.49 so far today before paring gains at Bursa Malaysia's afternoon break after the corrugated paper packaging manufacturer said on Friday third quarter net profit rose to RM5.99 million from RM1.26 million a year earlier.

“About 11,000 units were sold in Selangor from January to June, achieving sales of about RM7 billion, which was way over our target of RM3 billion for the HOC for the entire Klang Valley. It is obvious there is always demand for the right product at the right price and location,”

Brahim’s Holdings Bhd, whose shares dived after it announced PricewaterhouseCoopers PLT (PwC) had voluntarily resigned as its external auditor with immediate effect, said yesterday PwC’s departure is partly due to Brahim’s board’s view that a change of auditors would be good for corporate governance.

While corporate earnings in Malaysia for the first quarter (1Q) and 2Q of this year were disappointing, analysts said 3Q earnings largely met expectations, with several sectors recording growth.

MNC Wireless Bhd is expanding into the film-making industry after signing a memorandum of understanding (MoU) with New Zealand-based Monfils Pictures Ltd to produce and market a movie on the biography of war photojournalist, Tim Page.

Both companies have agreed to form a joint-venture (JV) company, in which MNC Wireless holds a 51% stake while Monfils Pictures holds 49%.

Engineering services group AWC Bhd has bagged a RM113 million job to provide hospital support services for the National Cancer Institute.

Under the terms of the three-year contract, the scope of works to be undertaken by AWC will be to provide all engineering, cleaning, healthcare waste, linen, and laundry management services for the cancer institute in Putrajaya, the group said in a filing with the local bourse.

The contract that will start from Sept 1, 2019, to last till Aug 31, 2022, was secured by AWC's wholly-owned unit Ambang Wira Sdn Bhd from the Ministry of Health.

“Demand for Perodua (Perusahaan Otomobil Nasional Kedua Sdn Bhd) vehicles remained strong in this quarter, especially with the Myvi, Axia and Aruz models, complemented by strong fleet sales volume from Daihatsu,” the firm said in a statement to the local bourse yesterday.

Profit before tax (PBT) for the segment jumped 34.2% YoY or RM2.2 million to RM8.8 million in 3Q19, helped by robust demand.

Revenue from the group’s auto parts manufacturing segment increased by 5.3% YoY or RM2.3 million to RM46.4 million from the previous quarter, in tandem with consistent market demand.

However, PBT for the segment edged lower to RM2.3 million in 3Q19, mainly due to customer mix. MBM Resources is the secondlargest shareholder of Perodua. It also holds a 42% stake in Hino Motors (M) Sdn Bhd.

Currently, Muda’s paper mills have a production capacity of 500,000 tonnes annually, said Lim, adding that Chinese manufacturers’ capacities could easily be three times more.

While not expecting to post the same level of earnings as last year, Lim is confident that Muda’s bottom line will not dip below the 2017 level.

IJM Plantations aims to harvest record high one million tonnes of FFB

IGB Bhd said the properties within Mid Valley City to be included into the REIT known as IGB Commercial REIT are Menara IGB, Centrepoint South, Centrepoint North, The Gardens South Tower, The Gardens North Tower, Menara Southpoint and Boulevard Offices. The Jalan Tun Razak properties comprise Menara Tan & Tan and GTower.

IGB Bhd said the REIT establishment and listing entail the disposal by the subsidiaries of IGB Bhd of their interests in the properties to IGB Commercial REIT with the sale consideration to be satisfied through a combination of cash and issuance of new units in IGB Commercial REIT.

PPB Group Bhd’s (PPB) net profit in the third-quarter (Q3) ended September 30, 2019, increased 9.56 per cent to RM394.18 million from RM359.77 million previously.

In an exchange filing today, PPB said earnings were fuelled by stronger contribution from Wilmar International Ltd as well as higher performance from the grains and agribusiness and environmental engineering and utilities segments.

Sunway Bhd’s (Sunway) net profit in the third-quarter (Q3) ended September 30, 2019, rose 26.57 per cent to RM183.42 million from RM144.92 million recorded a year ago.

RHB Investment Bank Bhd has maintained its “Buy” rating on Matrix Concepts Holdings Bhd at RM1.90 with an unchanged target price of RM2.20 and said the developer’s 2QFY20 results were in line, and it should be on track to hit its RM1.3 billion sales target for FY20 – as 1H sales have already reached RM666 million.

Teo Seng Capital Bhd’s net profit has jumped 2.6 times to RM18.05 million or 6.02 sen per share for the third quarter ended Sept 30, 2019 (3QFY19), against RM7.02 million or 2.34 sen per share a year earlier, on higher revenue from its poultry farming business.

Quarterly revenue grew 10.47% to RM138.38 million, from RM125.26 million, according to its filing with Bursa Malaysia today.

Amway (Malaysia) Holdings Bhd:

* QTRLY REVENUE 235.1 MILLION RGT; QTRLY NET PROFIT 10.6 MILLION RGT

* A THIRD SINGLE TIER INTERIM DIVIDEND OF 5.0 SEN NET PER SHARE HAS BEEN DECLARED

* YEAR AGO QTRLY NET PROFIT 17.1 MILLION RGT, REVENUE 260.2 MILLION RGT

In this aspect, this fulfills the Group’s aspirations to continue growing and eventually become one of the largest PVC food wrap producers in the Asia Pacific,” Ang added.

The group is also working on penetrating into new markets in Latin America, and the US. “There are countries in Latin America who prefer to source stretch film and garbage bags from Asian countries.

Serba Dinamik Holdings Bhd, menerusi anak syarikat milik penuh Serba Dinamik International Ltd (SDIL) dan Serba Dinamik Sdn Bhd (SDSB), mendapat lima kontrak dengan anggaran nilai gabungan sebanyak RM682.81 juta.

PPB Group Bhd’s 18.56%-owned Wilmar International Ltd’s (Wilmar) third quarter of financial year 2019 (3QFY19) core net profit (CNP) came in broadly within expectations at US$303 million (-6% year-on-year [y-o-y]; +174% quarter-on-quarter [q-o-q]), bringing nine months of financial year 2019 (9MFY19) CNP to US$756 million (+3% y-o-y), accounting for 66%/67% of our/consensus estimates, respectively. Fourth quarter of the financial year is usually the strongest on the back of sugar crushing season in Australia. As a historical check, the first nine months of the financial year’s profits for the past five years (except 9MFY16) constituted 64%-75% of a full-year earnings. However, 9MFY19 fresh fruit bunch (FFB) output of 2.95 million tonnes (-7% y-o-y) came in below our FY19 forecast of 4.3 million tonnes (+5% y-o-y) at 68%, as we expect to see production slowing down in 4QFY19. No dividend was declared, as expected.

CIMB Bank Singapore Partners SESAMi-Capital Match to Bring Cost-effective E-supply Chain Financing Solutions to the Supplier Community

S P Setia is also the winner of the Best in Qualitative Attributes sub-award.

The others in the top 10 list are Sunway Bhd — property division (No 2), UOA Development Bhd (No 3), IJM Land Bhd (No 4), UEM Sunrise Bhd (No 5), Mah Sing Group Bhd (No 6), Gamuda Bhd — property division (No 7), IOI Properties Group Bhd (No 8), Sime Darby Property Bhd (No 8), Eco World Development Group Bhd (EcoWorld) (No 9) and IGB Bhd (No 10).

IGB REIT 3Q earnings, gross DPU within expectations

During the quarter, Sarawak Plantation registered the strongest fresh fruit bunches production growth, up 20.9 per cent followed by FGV, 14.8 per cent and IOI Corp, 12.4 per cent.

TNB loses case, set to compensate 100 Cameron Highlands flood victims

Genting Group’s subsidiary Genting Singapore (GenS) reported a relatively weak set of numbers for the nine months of financial year 2019 (9MFY19), as its core profit after tax and minority interests (Patami) of S$529 million (RM1.61 billion) (-14% year-on-year [y-o-y]) was below our expectations but within consensus forecast, as it constituted 66% and 75% of the respective forecasts. Apart from the weaker gaming revenue (-9.3% y-o-y), the overall profitability was also bogged down by higher depreciation charges. We believe that the outlook for the Singapore gaming market is likely to remain challenging, due to a slower local mass market and uncertainty in the VIP segment.

Tanco Holdings Bhd and Eduspec Holdings Bhd have entered into a 20-year land lease agreement to lease a freehold commercial land in Negeri Sembilan for Eduspec to construct and operate the edutainment theme park.

Dubbed STEM EduPark, the theme park aims to introduce science, technology, engineering and mathematics based education to the public. The STEM EduPark will comprise general amenities, STEM discovery zone, activity zone and STEM hubs zone.

For I-Berhad, the company could go beyond the current RM10 billion gross development value (GDV) footprint for its i-City development in Seksyen 17, said executive chairman Tan Sri Lim Kim Hong.

Lim said the value of I-Berhad’s investment properties would be enhanced by being located within the golden triangle.

Inter-Pacific Research Sdn Bhd, in its initiating coverage report on the company, noted MTAG is a major supplier of labelling and adhesive solutions in the EMS supply chain and is well positioned to benefit when EMS players secure new customers following the US-China trade tensions.

“MTAG, one of the leading printed labels suppliers in the EMS ecosystem, will benefit from the trade war and enjoy organic growth from the regional markets.

Main Market-bound integrated engineering supporting services provider UWC Bhd is aiming to raise RM57.4 million from its initial public offering (IPO) on Bursa Malaysia.

UWC is principally involved in the provision of precision sheet metal fabrication and value-added assembly services as well as the fabrication of precision machined components.

The group has been under margin pressure for 10 straight quarters since the third quarter (3Q) of FY17 as rising operating costs have outpaced sales growth. The group even registered unprecedented losses at the gross level in the most recent 4QFY19. Resin, which made up at least 60-70% of total operating costs, saw a 9% year-on-year (y-o-y) rise. Fixed costs such as depreciation, upkeep, utilities and labour, jumped 22% y-o-y following commencement of the new Kulai plant. Remaining costs that are related to administrative, selling and marketing expenses rose 2% y-o-y

life insurance segment which saw an 8.5 per cent growth in operating revenue to RM780.7 million, as gross earned premiums and investment income grew by RM51 million and RM10 million respectively.

Food and beverages company, Fraser & Neave Holdings Bhd is allocating RM450 million for capital expenditure (capex) in 2020, said chief executive officer Lim Yew Hoe.

The allocation was a substantial increase compared with just RM30 million in capex for 2019.

The project aims to make KLIA the leading airport in South-East Asia, for innovative airport advertising solutions, which is also part of the Malaysia Airports Holdings Bhd (MAHB) commercial reset plan.

“By mid-2020, we will have completed all six phases and invested up to RM35 million to create one of the world’s most comprehensive airport advertising product portfolios.

PPB Group pays eight sen dividend despite nearly halving 2Q net profit

For the nine months of financial year 2019 (9MFY19), Ajinomoto registered a net profit of RM4.8 million which grew 7.7% y-o-y, while revenue improved 2.2% y-o-y to RM382.2 million. The encouraging results were due to steady revenue and earnings in the consumer segment.

TIME dotCom Bhd’s net profit jumped 42% to RM92.5 million for the second financial quarter ended June 30, 2019, from RM64.94 million in the previous year’s corresponding quarter.

The group’s quarterly revenue grew 16% to RM277.82 million from RM239.85 million a year earlier, which was attributed to higher sales across all core product segments.

“All core customer groups also contributed to overall revenue growth, led by wholesale and retail customers,” said TIME in a statement.

British American Tobacco (Malaysia)'s cigarette and heated-tobacco products could benefit from a possible ban on flavored e-cigerettes in the U.S., which will likely escalate Malaysians' concerns over vaping's health implications and teen usage, Daiwa says, raising the stock to buy from hold.

HONG Leong Financial Group Bhd (HLFG) has earmarked RM40 million to develop the HLX Integrated Innovation Centre, a 32-storey innovation exchange.

Fully owned by GuocoLand Malaysia Bhd — the property arm of HLFG, the exchange is located along Jalan Kia Peng in Kuala Lumpur, offering 250,000 sq ft (23,225.76 sq m) of co-working spaces, event facilities, high-tech talent development and training centres, co-living facilities and more.

“To date, a total of 100,000 sq ft has been taken up by start-ups and corporates, including a Vietnamese co-working space with 50,000 sq ft and local training academy KCOM Group plc, which will occupy about 16,500 sq ft,” HLX Management Sdn Bhd GM Mohd Reezan Mohd Fadzil told a press conference in Kuala Lumpur recently.

The exchange aims to curate, develop and operate ecosystems focused on accelerating innovation in the digital economy.

Maintain outperform with a higher target price (TP) of RM28.70: Post-meeting, we felt reassured of the management’s positive tone on its growing premium portfolio. The segment sustained double-digit volume growth (+22% versus the core beer brand’s +5%) in the first half of 2019 (1H19), which we believe has more potential for greater sales, after having successfully penetrated the market. That said, we believe the group is well-positioned to tap into the growing trend for premiumisation which will translate into bigger market share and volume growth. Notably, the group prides itself on its fastest-growing premium brand, 1664 Blanc (1H19 volume growth of 55%), thanks to its unique taste and a lack of direct peers in the market, which should continue to serve as a key driver for the premium segment moving forward.

In its first quarter ended March 31, 2019 (1QFY19), Kanger more than tripled its net profit to RM1.37 million from RM362,000 it posted a year ago, as revenue jumped 42.7% to RM18.04 million from RM12.65 million on higher sales to the China market as a result of increased marketing efforts.

Hibiscus to participate in offshore Gippsland Basin project in Australia

While Dayang Enterprise Holdings Bhd started with an underwhelming first quarter of financial year 2019 (1QFY19) with core losses of RM5 million, it bounced back in 2QFY19 with a core profit of RM53.5 million — one of its best 2Q performances in years. Moving forward into 3QFY19, we have reasons to believe that Dayang could possibly post even stronger earnings, underpinned by increased number of work orders in topside maintenance, on top of higher vessel utilisation. This is in line with Petroliam Nasional Bhd’s (Petronas) guidance of a higher capital expenditure spend in the second half of 2019, with focus on upstream oil and gas, jiving with the Petronas’ latest activity outlook

Mi Technovation Bhd has proposed a bonus issue of up to 250 million new shares on the basis of one bonus unit for every two existing shares held, to reward shareholders of the semiconductor assembly equipment solutions provider.

In a statement to Bursa Malaysia today, Mi Technovation said the company also plans to establish an employees' share grant scheme (SGS) of up to 10% of the group's issued shares.

Dayang to raise up to RM683m via sukuk programme

MyEG rebounds despite govt’s plans to cap foreign workers’ number

IGB REIT distributable income up 1.3%, declares 2.31 sen distribution

i will follow you.

The drilling segment recorded a revenue of RM272 million (+7% y-o-y; +18% q-o-q) and a LBT of RM36 million (-38% y-o-y; -29% q-o-q). Six rigs were utilised during the quarter. The outlook for the drilling segment is improving with seven to eight rigs expected to be utilised in the second half of FY20.

Sapura Energy has announced RM774 million worth of new contract wins and extensions, bringing its cumulative contract wins to RM3.1 billion. The new contracts include: i) engineering, procurement, construction and installation (EPCI) works for the Salman project in Brunei; ii) the provision of procurement, construction, hook-up and commissioning and start-up works for the BNJT-K BN-84 well tie-in for Bardegg-2; and iii) the Baronia enhanced oil recovery development project.

When active traders find an opening to get in on a stock they think is about to make a move, they may try to buy up as much as they can before the price moves back outside the buying range. This buying may be seen when the stock market dips after a bearish move.