financial year

 
 

RHB gets nod to buy rest of Vietnam securities firm

PETALING JAYA: RHB Bank Bhd’s wholly owned subsidiary RHB Investment Bank Bhd (RHB IB) has received the green light from the State Securities Commission of Vietnam (Vietnam SSC) for the proposed acquisition of the remaining 51% stake in Vietnam Securities Corp (VSEC) for VND121.63 billion (RM21.29 million) cash.

“The approval by Vietnam SSC is subject to the proposed acquisition to be completed within 90 days from the date of approval, failing which the approval shall lapse; and that VSEC shall make the necessary reporting and announcement in relation to the transaction in accordance with the relevant laws in Vietnam,” RHB said in a stock exchange filing.

The proposed acquisition will not have any effect on the issued capital and substantial shareholders’ shareholdings of RHB Bank, and it is not expected to have any material effect on the earnings and net assets of RHB Bank and its subsidiaries for the financial year ending Dec 31.

The proposed acquisition is expected to be completed by the second quarter of 2018.


Digi’s strategic shift in service revenue mix from prepaid to postpaid is good

KUCHING: With Digi.Com Bhd’s (Digi) first nine months 2018 (9M18) earnings generally meeting or surpassing expectations, analysts highlight that the group’s shift in service revenue mix from prepaid to postpaid was a good move for the group. From the research arm of MIDF Amanah Investment Bank Bhd’s (MIDF Research) viewpoint, the strategic shift in service […]


Gabungan AQRS shares actively traded on strong Q3FY18 results

KUALA LUMPUR, Oct 19 ― Gabungan AQRS Bhd’s shares were actively traded in the morning session today on strong third quarter 2018 financial year (3Q18) results. At 11.46am, Gabungan AQRS’ shares perked 6.5 sen to RM1 with 5.02 million shares…


Maxis shares lower in morning session on weaker Q3 results

KUALA LUMPUR, Oct 19 ― Maxis Bhd’s shares fell in the morning session today after posting weaker third quarter financial results. At 11.15am, Maxis shares were down 13 sen to RM5.38 with 447,100 shares changing hands. Public Investment Bank in a…


Press Metal’s proposed acquisition of JAA expected to be earnings accretive

KUCHING: Press Metal Aluminium Holdings Bhd’s (Press Metal) proposed acquisition of a 50 per cent equity interest in Japan Alumina Associates (Australia) Pty Ltd (JAA) is expected to be earnings accretive for the company, analysts say. In a press statement, Press Metal said, via its 80-per cent owned subsidiary Press Metal Bintulu Sdn Bhd, it […]


Vizione to accelerate regional expansion

KUALA LUMPUR: Vizione Holdings Bhd plans to accelerate its venture into Indonesia and Vietnam for housing and infrastructure projects by the third quarter of 2019, due to the weak sentiment in the local construction sector.

Managing director Datuk Ng Aun Hooi said it is still exploring opportunities and may need to bring forward its plan to expand into Southeast Asia sooner than the targeted 2020.

“Now, looking at Malaysia, if you want mega projects you have to wait for the next two years after they (government) review everything and make sure the fiscal account is in a healthy condition,” he told reporters after its AGM today.

He said Vizione will enter into joint ventures for its overseas housing projects and will work as a main contractor for concession holders for its infrastructure projects.

Vizione currently has no projects overseas but noted that its wholly owned subsidiary Wira Syukur (M) Sdn Bhd had previously worked on projects in Cambodia and Thailand (Bangkok).

Vizione is in the business of construction for residential, infrastructure and commercial projects. It has an outstanding order book of RM3.3 billion and a tender book of RM2.4 billion.

Its orderbook also consists of a job for LRT3, which the government has agreed to continue under a fixed price contract regime.

“We have to go back to the main contractor to renegotiate, but our package is small. We hope for more (jobs) to come in.”

Ng said Vizione aspires to achieve a minimum of RM600 million in revenue for 2019, from RM413.19 million in the financial year ended May 31, 2018, and RM1 billion by 2020 driven by its order book of mainly infrastructure and housing jobs.

On the upcoming Budget 2019, he is hoping that there will not be a drastic cut in development expenditure despite the government tightening its belt for a leaner budget.

“We need the government to help the private sector to have more jobs,” he added.

While building materials are exempted from the sales and services tax (SST), Ng said construction costs are going up for contractors as not all items are on the tax exempt list.

“Major materials like steel bar, concrete are free (from SST) but there are still many items that need to pay SST, up to 10%. For new tenders, we will put (factor) in the price; for earlier projects, we have to bear with it,” he said.


Digi records higher 3Q net profit of RM392.54 million

KUALA LUMPUR: Digi.com Bhd (Digi) recorded a higher net profit of RM392.54 million for the third quarter (3Q) ended September 30, 2018 from RM384.62 million in the same period last year. Revenue was higher at RM1.60 billion against RM1.57 billion year-on-year on the back of increased data consumption on its network, growth across its postpaid […]


KPS unit bags deal from Air Selangor

PETALING JAYA: Kumpulan Perangsang Selangor Bhd’s (KPS) 51%-owned subsidiary Aqua-Flo Sdn Bhd has clinched a RM162.5 million contract from Pengurusan Air Selangor Sdn Bhd (Air Selangor) to supply and deliver chemicals.

Aqua-Flo is a trading company offering chemicals and equipment, as well as provision of technical services in the water, waste and sewage treatment industries.

Under the contract, Aqua-Flo will provide chemicals to water treatment plants in Selangor, Kuala Lumpur and Putrajaya for two years from Nov 1, 2018, KPS said in a statement.

According to its filing with Bursa Malaysia, Aqua-Flo has entered into a framework agreement with Air Selangor for the chemical supply contract.

Under the agreement, the estimated contract sum is based on the actual total quantities to be supplied based on the purchase orders issued by Air Selangor.

The contract is expected to contribute positively to the group for financial years ending Dec 31, 2018 to 2020.

KPS CEO Ahmad Fariz Hassan said, backed by the group’s excellent track record, the contract win, which was secured through an open tender, strengthens Aqua-Flo’s status as one of the market leaders in the supply of water treatment chemicals.

“Aqua-Flo has been safeguarding the quality of water in Selangor since 1994 and we are heartened by the continued vote of confidence by Air Selangor to provide international-standard drinking water in the state.”


Kumpulan Perangsang Selangor unit bags RM162.5m deal from Air Selangor

PETALING JAYA: Kumpulan Perangsang Selangor Bhd’s (KPS) 51%-owned subsidiary Aqua-Flo Sdn Bhd has clinched a RM162.5 million contract from Pengurusan Air Selangor Sdn Bhd (Air Selangor) to supply and deliver chemicals.

Aqua-Flo is a trading company offering chemicals and equipment, as well as provision of technical services in the water, waste and sewage treatment industries.

Under the contract, Aqua-Flo will provide chemicals to water treatment plants in Selangor, Kuala Lumpur and Putrajaya for two years from Nov 1, 2018, KPS said in a statement.

According to its filing with Bursa Malaysia, Aqua-Flo has entered into a framework agreement with Air Selangor for the chemical supply contract.

Under the agreement, the estimated contract sum is based on the actual total quantities to be supplied based on the purchase orders issued by Air Selangor.

The contract is expected to contribute positively to the group for financial years ending Dec 31, 2018 to 2020.

KPS CEO Ahmad Fariz Hassan said, backed by the group’s excellent track record, the contract win, which was secured through an open tender, strengthens Aqua-Flo’s status as one of the market leaders in the supply of water treatment chemicals.

“Aqua-Flo has been safeguarding the quality of water in Selangor since 1994 and we are heartened by the continued vote of confidence by Air Selangor to provide international-standard drinking water in the state.”


LKL hopeful of enhanced healthcare initiatives in Budget 2019

PETALING JAYA: Medical/healthcare beds, peripherals and accessories provider LKL International Bhd is hopeful that the upcoming Budget 2019 will include significant initiatives to enhance healthcare services in Malaysia.

Managing director Lim Kon Lian said in a statement that there is a significant gap to close in Malaysia’s hospital bed-to-population ratio to ensure that Malaysians have reliable access to quality healthcare.

Lim said this issue would become more acute in the future, with 20% of the Malaysian population reaching over 60 years old by 2050.

Therefore, he said the group is hopeful that the government would address this concern by allocating more resources for healthcare facilities, in addition to incentives to encourage investments from the private sector.

“At our end, to effectively meet the anticipated growth in orders from our customers in the longer term, we plan to enhance our manufacturing facilities in Seri Kembangan by building a new four-storey steel structure extension, which we expect to complete by 2021.

“This would boost our capacity and capabilities to scale up our production in line with future demand,” Lim said.

The new structure, which would require estimated capital expenditure of RM6.7 million, will increase the total built-up area of the manufacturing plants by 37,400 sq ft or 40.8% to 129,140 sq ft, from 91,740 sq ft currently.

The steel structure extension is expected to be operational in the third quarter of the financial year ending April 30, 2021.

LKL also intends to increase its product range further by adding new medical products to its portfolio, so that medical practitioners are able to provide better diagnosis to patients, perform more complex procedures, and increase patient comfort.